Posted 22 minutes ago

Issued by Boston Properties

Summary

The report details KPIs, progress towards ESG objectives and continued focus on strategic climate action, climate resilience, diversity and inclusion, healthy buildings and community engagement.

Report Highlights

In 2021, BXP remained focused on creating positive economic, social and environmental outcomes for its customers, shareholders, employees and the communities it serves. BXP has advanced policies, programs and projects that support sustainable development and operations and key issues that impact their business and stakeholders, including climate change, health security and social equality.

Carbon neutral operations
In 2021, BXP committed to achieve carbon neutral operations from its occupied and actively managed buildings by 2025 and remains on track to achieve this goal. Progress toward goal includes maintaining energy-efficient operations, increasing renewable energy to 70% of total supply, and reducing scope greenhouse gas emissions intensity 1 and 2 by 80% relative to the 2008 base year. BXP had previously set an ambitious emissions reduction target consistent with a 1.5°C trajectory, the most ambitious designation available at the time of submission in as part of the Science Based Targets initiative, making BXP the only North American office company to achieve this distinction by 2020.

Board oversight
In 2021, the BXP Board Sustainability Committee was formed to assist the Board in its risk oversight responsibilities. The Sustainability Committee also serves as a direct resource to management by conveying information, knowledge and ideas related to environmental sustainability issues, including best practices, developing trends and potential issues. The main areas of work for the committee in 2021 were the analysis of climate risk scenarios and the alignment with the recommendations of the working group on climate-related financial information.

Diversity and Inclusion
BXP’s Diversity and Inclusion Committee, created in 2020 and reporting directly to senior management, continued its work promoting diversity, inclusion, equality and transparency as part of the culture, business activities and decision-making practices of BXP, while providing a mechanism for positive impact in the community. Key D&I initiatives for 2021 included identifying achievable diversity goals; the launch of three employee resource groups for female, BIPOC/multicultural and LGBTQ+ employees; working with minority-owned businesses to provide commercial real estate space on attractive terms; acquisition of a minority, woman-owned bank to act as co-manager of two senior unsecured note offerings; and engage with suppliers using surveys to assess their sustainability and D&I practices.

Leadership in Healthy Buildings
BXP continued and expanded its alignment with Fitwel, the world’s leading certification system for healthy buildings. BXP was named the winner of the Best in Building Health 2022 award by the Center for Active Design for the most endorsed assets under the Fitwel Viral Response Module.

About BXP ESG
BXP’s commitment to ESG leadership has been recognized by numerous industry groups and rankings, including BXP’s recent inclusion as #4 on the 2021 Forbes Green Growth 50 and #3 list on Barrons List of the 10 most sustainable US REITs. BXP has been appointed to Newsweek’s 2022 list of America’s Most Responsible Companies, ranking first in its industry with a ranking up from 31st overall out of the 499 companies included in the list. BXP recently achieved a tenth consecutive “Green Star” recognition in the GRESB® 2021 assessment and a 5-star GRESB rating. BXP has been a leader in green building and has certified 28.5 million square feet of its current portfolio in service to the highest LEED Gold and Platinum certification levels. In 2021, BXP was named ENERGY STAR Partner of the Year – Sustainable Excellence Award Winner and Best in Building Health Award Winner by the Center for Active Design.

About BXP

Boston Properties (NYSE: BXP) is the largest publicly listed developer, owner and manager of Class A office properties in the United States, focused on six markets: Boston, Los Angeles, New York, San Francisco, Seattle and Washington, DC. . BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diversified portfolio of primarily Class A offices. Including properties held by unconsolidated joint ventures, as of December 31, 2021, BXP’s portfolio totaled 52.8 million square feet and 201 properties, including nine properties under construction/redevelopment. For more information, please visit our website at www.bxp.com or follow us on LinkedIn or instagram.

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