Cadillac Fairview Profile
Cadillac Fairview is one of North America’s largest investors, owners and managers of commercial real estate. With a portfolio valued at more than $17 billion and nearly 50 million square feet of leasable space, Cadillac Fairview, and its affiliates owns and manages 83 properties across North America.
A New Business Challenge
Going green has become a socially expected mantra for government, business and the private sector alike. Increasingly, research suggests that retail and office tenants are influenced in their real estate decisions by how advanced or committed a landlord is in reducing the environmental impact of its operations.
Having been actively engaged in energy management activities across their portfolio for many years, Cadillac Fairview wanted to devise a national corporate sustainability strategy that would set benchmarks across all properties to reduce energy consumption and waste, improve environmental practices and encourage sustainable procurement.
With this in mind, Cadillac Fairview set out to become an industry leader in the execution of green initiatives, including related technologies and innovation. A significant challenge was to implement a program that could be adopted and integrated into the workflow of the Property and provide an effective portfolio –wide view.
A Collaborative Solution
To achieve this goal Cadillac Fairview initiated a detailed, focused, and long term enterprise-wide effort referred to as the GREEN AT WORK™ Program.This initiative was designed to support the realization of the following vision:
“To establish an environmental leadership position in our industry through operational excellence focused on the principles of Environmental Protection, Energy Conservation and Efficiency, Preservation of Materials and Resources, Innovation and Social Responsibility.”
Cadillac Fairview believes that a focused corporate-wide sustainability program supports their overall ‘Best in Class’ vision and can positively impact their financial performance. To realize this vision Cadillac Fairview has focused on the following five (5) significant aspects of sustainability:
- Waste Management;
- Environmental Protection;
- Sustainable Procurement; and
Cadillac Fairview looked to Energy Advantage to help design, build, and support an operational platform for their GREEN AT WORK™ national sustainability program.Working collaboratively, Cadillac Fairview and Energy Advantage outlined the program’s vision and objectives, methodologies and measures, and the evaluation and scoring system. The core of the operational platform is energy and environmental use data which is available on a 7X24 basis.
The program goes beyond energy measures to include a wide spectrum of sustainability factors including waste management, environmental protection, procurement, and awareness. Based on the program’s strategy, Energy Advantage developed an online sustainability management solution for individual properties to monitor, communicate and assess their green initiatives.
This solution integrates all aspects of the program and is designed to encourage properties to use and monitor their performance on a regular basis. Launched in November 2008, Energy Advantage conducted training sessions across all properties.
Measurable & Tangible Results
Cadillac Fairview has now implemented its GREEN AT WORK™ sustainability program within all of its core Canadian properties.
Each property has taken steps to heighten awareness of the program and actions to achieve their energy and waste targets. The program is designed with proper metrics and a reliable platform to analyze and measure the results of each property. Cumulative results for five years include:
Emissions Reduction (electricity/gas/water): Equivalent to approximately 40,393 tCO2e.
Cost Savings: $31,760,428 million