TORONTO, May 18, 2022--(BUSINESS WIRE)--DREAM OFFICE REAL ESTATE INVESTMENT TRUST (D.UN-TSX) ("Dream Office REIT", the "Trust" or "we") today announced that it has been awarded a Platinum Level award by the Green Lease Leader program during the Better Buildings, Better Plants Summit, by the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Alliance.
Building on the Trust’s 2021 Gold Level recognition, this year the Trust achieved Platinum Level recognition for integrating ambitious building energy reduction goals with social impact goals. To receive this recognition, the Trust qualified for credits in energy efficiency and sustainability best practices such as utility data tracking and sharing, cost recovery for capital improvements, building resilience and sustainability training. This is the first year that the Platinum Level award was implemented, and the Trust is one of the few applicants to receive the highest level of recognition.
"This Platinum Level recognition reflects our proactive approach towards achieving net-zero by 2035 by engaging our tenants on all fronts of Sustainability and ESG. With our emission reduction and other Sustainability goals, along with the green lease standard, we strive to increase the positive environmental, social, and financial outcomes of our tenants and key stakeholders," said Gordon Wadley, Chief Operating Officer – Dream Office REIT.
The Trust continues to put strategies in place to systematically consider and manage sustainability in everything we do. In 2021, we became official supporters of the Taskforce on Climate-related Financial Disclosures, which provides guidance and recommendations on climate-related risk and opportunity disclosures, and, as part of the Dream group of companies, committed to the United Nations Principles for Responsible Investment and the Net Zero Asset Managers initiative. These represent meaningful commitments to accountability and corporate responsibility. Recently, the Trust published its Net Zero by 2035 Action Plan, which outlines the proposed strategy and course of action to achieve net zero within the targeted timeline.
More information on Trust’s sustainability goals, performance, disclosures and initiatives can be found on our sustainability website.
About Green Lease Leaders program
Launched in 2014, Green Lease Leaders sets standards for what constitutes a green lease, while recognizing landlords and tenants who modernize their leases to spur collaborative action on energy efficiency, cost-savings, air quality, and sustainability in buildings. Green Lease Leaders represent portfolios totaling nearly 2 billion square feet (sq. ft.) and comprise a diverse range of buildings from large and small commercial offices to industrial buildings to data centers. Altogether, Green Lease Leaders manage more than 5 billion square feet of commercial and government space across North America, representing a huge potential for growth in green leases. Learn more about Green Leasing by visiting GreenLeaseLeaders.com or reading Green Lease Leaders’ case studies.
About Dream Office REIT
Dream Office REIT is an unincorporated, open-ended real estate investment trust. Dream Office is a premier office landlord in downtown Toronto with over 3.5 million square feet owned and managed. Dream Office has carefully curated an investment portfolio of high-quality assets in irreplaceable locations in one of the finest office markets in the world. For more information, please visit our website: www.dreamofficereit.ca.
This press release may contain forward-looking information within the meaning of applicable securities legislation, including with respect to the trust’s sustainability goals, including the implementation of its Net Zero Action Plan, reaching net zero greenhouse gas emissions by 2035, and the Trust’s support and engagement with certain sustainability initiatives; and the Trust’s intention to engage tenants in respect of sustainability and environmental, social and governance matters ("ESG"), and the increase of related positive ESG and financial outcomes of tenants and key stakeholders. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, general and local economic and business conditions; risks associated with unexpected or ongoing geopolitical events, including disputes between nations, war, terrorism or other acts of violence, international sanctions and the disruption of the free movement and provision of goods and services across jurisdictions; employment levels; mortgage and interest rates and regulations; the uncertainties around the timing and amount of future financings; uncertainties surrounding the COVID-19 pandemic; the effect of government restrictions on leasing and building traffic; the ability of the Trust and its tenants to access government programs; the financial condition of tenants; our ability to refinance maturing debt; leasing risks, including those associated with the ability to lease vacant space; rental rates on future leasing; future parking revenues and interest and currency rate functions. Our objectives and forward-looking statements are based on certain assumptions, including that the general economy remains stable, interest rates remain stable, conditions within the real estate market remain consistent, competition for acquisitions remains consistent with the current climate and that the capital markets continue to provide ready access to equity and/or debt.
All forward-looking information in this press release speaks as of the date of this press release. The Trust does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR (www.sedar.com). These filings are also available at the Trust’s website at www.dreamofficereit.ca.
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Dream Office REIT
Michael J. Cooper
Chairman and Chief Executive Officer
Chief Financial Officer