Case studies

Renewable energy procurement makes a difference

Oxford is committed to reducing carbon emissions across its global portfolio. To this end, Oxford is continuously seeking opportunities to increase energy efficiency and renewable energy usage.

Oxford’s portfolio of hotels in Banff has faced unique challenges in setting a decarbonization strategy due to the high carbon intensity of Alberta’s electricity sector. To tackle this challenge, Oxford has established renewable energy procurement contracts to offset the region’s high grid emissions associated with coal-fired electricity generation. Renewable energy credits (RECs) are an effective approach to purchasing clean electricity for properties regardless of the local electricity grid. They also increase demand for renewable energy, supporting the development of additional renewable energy developments.

Five years ago, Oxford’s Banff hotels portfolio procured RECs equivalent to 5,500 MWh. This initiative has had a significant impact on reducing the greenhouse gas emissions of Oxford’s hotel portfolio and will be continued in the coming years. During that time, RECs have been used to generate 38,500 MWh of green electricity resulting in over 19,000 tonnes of avoided carbon emissions. This is equivalent to the electricity consumption of over 12,700 homes!

The use of RECs has been ramping up at other properties across Oxford’s global portfolio. Oxford recognizes the urgency of climate change—RECs enable Oxford to lower emissions from building energy consumption now, rather than waiting for the electricity grid to decarbonize. In 2021, Oxford purchased nearly 40,000 MWh of renewable energy credits which represents 6.5% of Oxford’s total electricity use, up from 2.3% in 2020. Over the last few years, Oxford’s use of RECs has been steadily increasing. It is expected that the use of RECs will continue to rise each year across the portfolio!

Making smart buildings more sustainable through data-driven management

Oxford is always on the lookout for innovative ways to reduce carbon emissions and increase energy efficiency across its portfolio. One innovation to drive significant energy savings is the use of smart building systems. These systems leverage technology and analytics to operate buildings more efficiently, improve financial performance and create seamless communications between the tenant and building operations to improve productivity, experience and wellness.

Significant energy savings have been realized through the use of smart building technology at 17 buildings Australia-wide covering over 500,000 m² of floor space. Through working with an Australian company called Bueno Systems these properties, operated by our platform business, Investa, implemented a more efficient data-based approach to maintenance over a 12-month period.

These new systems improved data-driven asset maintenance while also identifying opportunities for energy reduction. Implementing these systems supported the achievement of 5-Star average NABERS ratings across the portfolio and 2,500 MWh of energy savings.

Further, Investa applies this same data-driven approach to the commissioning of all new developments. The use of ongoing data-driven commissioning can proactively identify and resolve issues in the building and help to achieve a fully functioning building that operates in line with the original design intent.

Collecting this information has benefits beyond just new developments. Tracking this information has also led to more informed capital program decisions at many properties.

Energy upgrades stack up at the Sony Center

The Sony Center Berlin is an iconic mixed-use building complex that comprises offices, restaurants, entertainment, residential and retail in the heart of the city. The complex spans eight buildings with over 100,000 m² net floor area and is connected to Berlin’s District Heating and Cooling energy system.

Two of the buildings are currently undergoing a comprehensive energy upgrade that will improve energy efficiency and reduce GHG emissions. The energy upgrades will also improve occupant wellbeing through enhanced indoor air quality and thermal comfort. Planned initiatives include:

• Implementation of Variable Air Volume and Demand Control Ventilation
• CO₂ sensor installation in occupied spaces for enhanced ventilation
• Circulation pump system upgrades and controls optimization
• Expansion of LED lighting
• Envelope upgrades
• Building automated controls

Once completed, the upgrades at Sony Center will result in 375,000 kWh avoided energy consumption and 100 tCO₂ of avoided carbon emissions annually.

Oxford is committed to doing our part to reduce global greenhouse gas emissions. In advancing our portfolio decarbonization, we are following the pathways set out by the Carbon Risk Real Estate Monitor (CRREM). CRREM defines the greenhouse gas reductions required for the building sector to meet global emissions reductions targets. The Sony Center Berlin is just one example of Oxford’s many efforts to decarbonize our properties in alignment with the urgent global need.

Oxford wins a triple crown

This past year, Oxford’s Vancouver office portfolio was recognized by the Building Owners and Managers Association of British Columbia (BOMA BC), achieving three outstanding awards for building performance.

401 West Georgia – TOBY award (The Outstanding Building of the Year)

This year 401 West Georgia was recognized as one of BOMA BC’s Outstanding Building of the Year (TOBY). This highly prestigious award recognizes quality and rewards excellence in building management. Highlights include a 15% decrease in energy use intensity between 2019–2020, regular indoor air quality inspections and a waste diversion rate of 75% or higher.

401 West Georgia & 402 Dunsmuir – Building Operations Team of the Year

This year Oxford celebrated the successes of its building operations team at 401 West Georgia & 402 Dunsmuir who demonstrated a high level of expertise in preventative maintenance, building operation and energy efficiency. Highlights include advising on energy-saving opportunities that contributed to a 40,000 kWh reduction in annual energy use and utilizing Angus Preventative Maintenance system as a tool for inspections and risk mitigation.

Marine Building – TOBY – Historical Building of the Year Award

This year, the Marine building was recognized as the Outstanding Building of the Year (TOBY) by BOMA BC. This highly prestigious award recognizes quality and rewards excellence in building management. Highlights include the buildings green team committee that meets quarterly to discuss energy conservation and other sustainability topics. The building chief engineering and operations manager also meet annually to review the building’s carbon reduction plan.

These certifications demonstrate that Oxford is operating its buildings efficiently and shows leadership in building performance.

Sparking solar for shopping centres

Oxford is committed to being a leader in the development and operation of energy efficient, low-carbon buildings. The economic and environmental benefits associated with solar power ‘sparked’ Oxford’s pledge to create 1 million SF of rooftop solar by 2024.

To date, we have built over 260,000 SF of solar across our portfolios. Our retail assets made significant strides this year.

Our first significant solar project at Yorkdale Shopping Centre (Toronto, Canada) features 600 rooftop solar panels, installed on 25,000 SF, generating over 234 MWh of clean electricity/year – equivalent to three months of interior and exterior lighting at the property. Les Galeries de la Capitale followed shortly after, installing 80,000 SF and generating over 590 MWh annually.

In 2020, Scarborough Town Centre (Scarborough, Canada) installed over 900 panels, on 54,000 SF, generating 374 MWh annually. More recently, Square One (Mississauga, Canada) installed a whopping 2250 solar panels atop 96,000 SF of rooftop and will generate 920 MWh of electricity per year.

Combined, our shopping centre’s rooftop solar systems generate over 1,500,000 kWh of clean electricity per year. That's enough to power 200 homes for 1 year. Not only does this save on electricity costs, it also positions our shopping centres for the future low-carbon economy.

New energy systems = big savings

Our multi-residential team is continuously working to find innovative ways to reduce carbon emissions and increase energy efficiency – a strategy that makes both environmental and economic sense for residents and Oxford.

That’s why the team partnered with Legend Power® Systems Inc. to pilot an onsite energy management technology aimed at finding efficiencies and minimizing a building’s electricity use. The technology metering and monitoring system captures causes of equipment malfunctions, failures and inefficiencies. Legend Power installed two SmartGATE™ platforms at two assets in Canada – Lakeside Place and Forest Lane Apartments. For both assets, the system resulted in an average annual electricity reduction of 6%, which is about 465,000 kWh or $56,000 per year. That’s equivalent to powering 85 apartment units for an entire year!

As a result of these analytics, the multi-residential portfolio is now equipped with the capability of up to 500 control points, giving the operations team the control needed to manage their mechanical equipment.