The intent behind “greening” a portfolio is to utilize a systematic approach to green a real estate portfolio:
1. Develop a strategic plan to achieve your Environmental, Social, Governance goals including creating a long term vision, mission, and core values.
2. Establish a dedicated team of experts that works with you on an ongoing basis. This may include the owner, consultants, contractors, etc.
3. Set quantifiable goals and targets (short and long term) which will serve as the foundation toward reaching your ESG goals.
4. Benchmark your properties to assess the current performance of total energy use. This results in high potential of savings.
5. Develop a centralized Environmental Management System (EMS) to outline the commitments and policy, planning, implementation, and evaluation strategies.
6. Develop and implement ESG policies, perform energy audits, and invest in efficiency improvements to achieve our sustainability goals and targets.
7. Attain recognized green building certifications including Energy Star and LEED to demonstrate a commitment to good environmental practices and improve public image.
8. Develop and implement stakeholder engagement programs to improve your portfolio’s performance.
9. Establish and maintain partnerships with sustainable organizations and data management system providers to help you achieve your ESG goals.
10. Report your progress on an annual basis to organizations like GRESB and CDP to evaluate performance, and improve your credibility and reputation.