ESG Goals
Our new ESG goals align with our decarbonization objectives and create positive impact in our communities.
| Climate and Environment | Target Year | Target Objective |
|---|---|---|
| Complete formal submission to SBTi | 2024 | Y/N |
| Improve CREIF energy performance | 2024 | 9% |
| Improve CREIF carbon performance | 2024 | 9% |
| Execute decarbonization strategy | 2027 | 35% |
| Increase CREIF’s third-party building certifications | 2024 | 90% |
| Social Impact | Target Year | Target Objective |
|---|---|---|
| Maintain or improve employee engagement score | 2025 | 90% |
| Maintain or improve inclusion score | 2025 | 70% |
| Maintain or improve tenant satisfaction score | 2025 | 77% |
| Operational Excellence | Target Year | Target Objective |
|---|---|---|
| Maintain GRESB 5 Stars | Annually | Y/N |
| Submit first report to the Principles of Responsible Investment | 2023 | Y/N |
| Publish a Responsible Investing Policy | 2022 | Y/N |
| Conduct climate risk assessments in CREIF | 2023 | Y/N |
| Conduct corporate-wide governance review | 2023 | Y/N |
Future Actions
| Climate and Environment |
|---|
| Track and consolidate Growth Fund environmental performance data for 80% of assets by 2023 |
| Execute property-level decarbonization strategies for properties in Phase 1 |
| Identify new decarbonization opportunities for multi-residential, retail and industrial properties |
| Secure Canadian Infrastructure Bank financing to execute our decarbonization strategy for CREIF |
| Submit all assets under management to the Science Based Targets Initiative for approval |
| 100% of developments designed to achieve a net-zero carbon balance |
| Social Impact |
|---|
| Secure CMHC financing and begin construction on Valhalla in the Affordable Housing Fund |
| Close on acquisition of 220 affordable housing units |
| Expand the number of Social Committee events run throughout the year |
| Improve flex work by introducing Work From Anywhere Fridays |
| Roll out mental health app to all employees for stress reduction |
| Monitor the uptake and usage of tenant engagement apps |
| Continue to roll out valuable tenant experiences and events across our properties |
| Create volunteer opportunities for employees to engage with our communities |
| Operational Excellence |
|---|
| Implement feedback from first PRI submission to improve ESG ranking in Fixed Income |
| Align with the Net Zero Asset Managers initiative |
| Conduct third-party corporate governance review |
Sustainable Development Goals
Our ESG Strategy positions us to make significant contributions to the UN Sustainable Development Goals (SDGs) most relevant to our business.
Doing so gives us the opportunity to positively impact the broader environments and communities in which we do business and enhance and strengthen our impact wherever possible.
| Goals | Our Commitments | 2022 Results | |
|---|---|---|---|
 | KingSett is committed to reducing energy use across our assets and helping the industry develop cleaner sources of energy |
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 | KingSett strives for equity for all, to make our society and business more successful and works diligently to create a safe and inclusive workplace |
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 | KingSett is committed to creating more sustainable, accessible and environmentally friendly buildings and communities for all |
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 | KingSett seeks to reduce the material consumption at our assets through the conscientious use of finite resources and minimizing waste generation |
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 | KingSett is committed to reducing our carbon emissions and strengthening the resilience of our assets |
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GRESB
In 2022, KingSett achieved global leader recognition in the GRESB Real Estate Assessment for the second year in a row.
KingSett ranked first across the Americas (North, South and Central) and first globally for the second year in a row for our CREIF portfolio. For the first time since responding to GRESB, KingSett ranked first globally in our peer group for the Developments Benchmark.
KingSett Capital is a proud participant in GRESB and has responded to the Assessment since 2015. In 2022, we continued to lead the commercial real estate market and out-perform our previous achievements. We achieved a Five Star Rating for the fifth year in a row, were first in our peer group for the third year in a row and first globally within our peer group of non-listed core funds for the second year in a row. KingSett also achieved first in Canada and first across the Americas in the Developments Benchmark, leading all companies who participated in the benchmark in those regions.
"We use third-party standards such as GRESB to demonstrate our ability to turn sustainability policies and goals into verifiable results and ensure we are focused on the material aspects of real estate that will drive value.”
— Kit Milnes, Vice President, Sustainability and Resilience
Standing Investments
Globally: DIVERSIFIED
Office | Residential | Non-Listed | Core
In our Regional Sector: DIVERSIFIED
Office | Residential | Americas
In our Peer Group: NORTH AMERICA | DIVERSIFIED
Office | Residential | Core Development
Developments
Globally
Other | Non-Listed | Core
Our Reporting Strategy
Our reporting strategy is the primary way that KingSett informs key stakeholders about our ESG approach, performance and progress. It is designed to meet the various needs of our stakeholders.
2022 ESG Summary Report: An evolution of our annual ESG reporting, KingSett’s ESG Summary provides a high level overview of our key accomplishments and performance from the year and demonstrates how ESG builds value through actively managing the ESG risks and opportunities associated with the ownership, development and management of real estate.
This Website: KingSett Capital’s Environmental, Social and Governance (ESG) approach and the performance of the KingSett Canadian Real Estate Income Fund LP (CREIF) (“Portfolio”) during the 2022 calendar year (January 1, 2022 – December 31, 2022), unless otherwise stated.
2022 Verification Statement: KingSett received limited verification of selected environmental data, including carbon emissions performance disclosed in this report by an independent third party, Quinn+Partners, in accordance with ISO 14064-3.