Three New Industry Leaders Join Better Buildings Challenge
Three prominent commercial real estate companies have recently joined the Better Buildings Challenge. MetLife Investment Management, Kilroy Realty Corporation, and Highwoods Properties join other notable Challenge partners that own, lease, or manage commercial properties in the United States. These partners have each committed to reduce their energy intensity portfolio-wide by at least 20% over 10 years, and together have added nearly 100 million square feet to the program.
In the U.S., commercial real estate office properties represent nearly 15 billion square feet of floor space, and energy is typically a building’s largest controllable operating expense. Through Better Buildings, commercial real estate partners work to share energy efficiency strategies and best practices, while engaging technical experts to help achieve their energy savings goals.
MetLife Investment Management, the institution asset management business for MetLife, Inc., provides investment solutions for institutional investors globally. As a Challenge partner, MetLife Investment Management is working toward its energy savings goal by implementing environmental, social, and governance (ESG) factors at the property level. MetLife maintains an impressive carbon neutral status and achieved its 2019 goal of signing onto the Principles for Responsible Investing (PRI) as an investment manager.
Kilroy Realty Corporation owns, acquires, develops, and manages commercial properties across the West Coast. Kilroy aims to achieve high levels of performance in energy and water efficiency across its stabilized portfolio, of which 63% is LEED certified and 77% is ENERGY STAR® certified. Kilroy is also the first North American commercial real estate owner to publicly commit to carbon neutral operations by the end of 2020.
Highwoods Properties owns, develops, acquires, leases, and manages office and mixed-use properties in Atlanta, Orlando, Pittsburgh, Richmond, and other cities across the Eastern U.S. To help reach its 20% energy reduction goal, Highwoods is working to improve efficiency throughout its portfolio by implementing building control systems modernization, LED lighting upgrades, and real-time energy management through its LiveMeter program.
Together, Better Buildings Challenge partners across commercial, education, multifamily, government, and other sectors are implementing sustainable, efficient solutions throughout their portfolios to achieve ambitious energy, water, and financial goals.