Our targets

Reduce scope 1 & 2 carbon emissions, on a per square foot basis, by 30% by 2025. (2015 base year)
(2025) (All Regions, All Asset Classes)

Note: Achieved -37% as at Dec 2021, and compared to -23% reduction in 2019. Exceptional 2020 and 2021 market conditions have resulted in this temporary amplified reduction in energy consumption. It is expected, as the market continues to adjust, the reduction in emissions will also fall to a lower year-over-year variance. Data is non-normalized.

Procure electric vehicles for all new Oxford light duty/passenger fleet vehicles.
(Ongoing) (All Regions, All Asset Classes)

Pilot the monitoring of embodied carbon for at least two major renovation/new development projects.
(2023) (All Regions, All Asset Classes)

Note: In progress—30 Bay & 1133 Melville new developments.

Pilot the CaGBC Zero Carbon Building (ZCB) Standard for two new development projects.
(2020) (Canada, Office)

Achieve CaGBC ZCB Design and Performance Certifications for two new development projects.
(2025) (Canada, Office)

Develop low-carbon playbook for all major mixed-use development projects.
(2022) (All Regions, Mixed-use)

Note: Achieved in 2021: Low-Carbon Energy Playbook implemented in Q4-2021 for SquareOne District development.

Pathway to Net-Zero: Develop long-term portfolio carbon emission forecast for all major investment types. This includes Oxford managed assets, third-party managed assets, and platform companies.
(2023) (All Regions, All Asset Classes)

Establish Decarbonization Plans for all direct drive and third party assets.
(2023) (All Regions, All Asset Classes)

Develop 1,000,000 square feet of rooftop solar projects.
(2024) (Canada/US, All Asset Classes)

Note: Additional 37,000 ft² of solar installed at SquareOne Shopping Mall.

Procure 100% renewable electricity.
(2025) (UK/AU, All Asset Classes)

Conduct a renewable energy generation feasibility study for all major renovation and new development projects, where appropriate.
(Ongoing) (All Regions, All Asset Classes)

Achieve an Energy Star score of 75 for all of our office buildings.
(Ongoing) (Canada/US, Office)

Develop and implement global best practice energy performance standards for all major renovation and new development projects.
(2024) (All Regions, All Asset Classes)

Pilot an energy storage project that utilizes batteries to reduce peak demand and energy costs.
(2023) (Canada, Retail)

Conduct global best practice annual indoor air quality testing and develop action plans where required.
(Ongoing) (All Regions, All Asset Classes)

Pilot IAQ continuous monitoring system.
(2022) (Canada, Office)

Note: Program rolled into Digital Buildings initiative.

Implement a biophilic design project that enhances customer wellbeing and asset productivity.
(Ongoing) (Canada, Office/Retail)

Conduct periodic customer satisfaction surveys and drive property level continual improvement.
(Ongoing) (All Regions, All Asset Classes)

Provide building and surrounding area wellbeing information to customers.
(Ongoing) (All Regions, All Asset Classes)

Achieve and maintain wellbeing certification.
(Ongoing) (All Regions, Office)

Note: Achieved 43 WELL Health-Safety certifications. 7 Fitwell certifications in progress.

Achieve regional and asset class waste diversion targets.
Office CA – 75%; Retail CA – 60%; Office US – 50%; Office UK – 50%; Office AU – 30%
(Ongoing) (All Regions, Office/Retail)

Note: Diversion rates are impacted by the total waste weight and the % of diverted weight. Some trends that impacted diversion rates include: 1) Less weight overall, 2) Less organics and paper products, which make up a high % of total weight, 3) Less recyclable material (office—paper shredding; retail—packaging from stores). Regional variables, such as incineration practices and markets for recyclables also impact and can offset occupancy use trends. Efforts to address these impacts are reflected in asset level waste reduction plans.

Achieve 85% diversion from landfill for all New Construction projects.
(Ongoing) (All Regions, Development)

Develop and implement asset level waste reduction plans.
(Ongoing) (All Regions, All Asset Classes)

Develop and implement a program to divert organics from landfill where feasible.
(Ongoing) (All Regions, All Asset Classes)

Develop and implement sustainable food court standards.
(2024) (Canada, Retail)

Pilot sustainable food court in urban retail environment to enhance customer experience and increase waste diversion.
(Ongoing) (Canada, Office)

Achieve 10% reduction in potable water use by 2020. (2015 base year)
(2020) (Canada/US, All Asset Classes)

Pilot a permeable pavement solution to improve storm water management.
(2024) (Canada, Retail)

Note: Target extended to align with new water strategy.

Pilot smart water meters to improve the quality of water data and management practices.
(2024) (Canada/US, Office)

Note: Target extended to align with new water strategy.

Conduct rainwater capture systems feasibility studies on all major renovation and new development projects where appropriate to inform potential decision making.
(Ongoing) (All Regions, All Asset Classes)

Install metering on all existing rainwater capture systems and benchmark portfolio water re-use performance.
(2024) (All Regions, All Asset Classes)

Note: Target extended to align with new water strategy.

Pilot grey water reuse in an existing building and share results.
(2024) (Canada, Retail)

Note: Target extended to align with new water strategy.

Request LEED v4 compliant EPDs (environmental product declarations) and LEED v4 compliant HPDs (health product declarations) for construction materials on all major renovation and new development projects.
(Ongoing) (Canada/US, Development)

Note: In accordance with Oxford's Restricted Materials List.

All Oxford major renovation and new development projects to follow BREEAM or LEEDv4 credit requirement for raw material sourcing, where appropriate.
(Ongoing) (All Regions, All Asset Classes)

Maintain a list of restricted materials to eliminate from Oxford major renovation and new development projects.
(Ongoing) (All Regions, All Asset Classes)

Support employees to engage in at least one dedicated volunteer day/year.
(Ongoing) (All Regions, All Asset Classes)

Cultivate spaces for philanthropic, entrepreneurial, and artistic partnerships within our leasable and common areas.
(Ongoing) (All Regions, Office/Retail)

Engage in customer, partner, and community events/activities to promote Oxford’s brand and interests.
(Ongoing) (All Regions, All Asset Classes)

Engage future generations on the benefits and values of the real estate industry through educational institutions and industry associations.
(Ongoing) (All Regions, All Asset Classes)

Pay at least the National Living Wage to all staff employed directly by Oxford and encourage Tier 1 supply chain to pay the same.
(Ongoing) (UK, All Asset Classes)

Develop and implement initiatives which actively support employability of disadvantaged people.
(Ongoing) (UK, All Asset Classes)

LEED, BREEM, NABER and similar – Increase certified office space to 95%.
(2024) (AU/CA/EU/UK/US, Office)

BOMA Best – Achieve 100% certification.
(Ongoing) (Canada, Retail)

Green Key – Achieve 100% certification.
(Ongoing) (Canada, Hotels)