ENVIRONMENT
Nature and biodiversity
Contents Introduction Our approach to ESG
In the wake of the UN Biodiversity Conference (COP15) in 2022, 190 states committed to a set of ambitious goals and targets under the Global Biodiversity Framework (GBF). Biodiversity loss is also now recognized by the world’s central banks as a source of systemic risk alongside climate change. Fengate Real Estate recognizes the significance of the protection and conservation of nature and biodiversity. We also acknowledge that nature loss poses a large risk to the economy as a whole and has a substantial impact on the built environment.
Our goal is to work alongside the TNFD to embed nature-related risks and opportunities into our firm’s strategic planning, operations, risk management processes and asset management activities to create long-term sustainable value.
Environment
— Biodiversity in operations Bees and other pollinators are essential to maintaining balance in every aspect of our planet’s ecosystem. In partnership with Alvéole, Fengate has installed honeybee hives on all the office towers we manage. — Migrating bird protection Each year in Canada, around 25 million migratory birds die as a direct result of collisions with buildings. To protect migrating birds from colliding with windows, we worked with FLAP (Fatal Light Awareness Program) Canada to install window film at Concorde Corporate Centre. — Green cleaning All chemicals used in cleaning Fengatemanaged properties shall bear the UL ECOLOGO certification seal. These chemicals are verified for reduced environmental impact and indicate that a product has undergone rigorous scientific testing and exhaustive auditing to prove its compliance with stringent third-party environmental standards.
Climate and energy initiatives Climate and energy case studies Water and waste management Nature and biodiversity
Honeybees at work
Social
In Spring 2021, Fengate Real Estate took thousands of bees under its wing. We are proud to play an active role in creating a more eco-conscious city by installing beehives on the rooftops of the office buildings we manage. Our thousands of new colleagues will pollinate the urban flora that surrounds us during the summer. At the end of the season, we harvest their honey and share it with our community.
Governance
Our project is realized in collaboration with Alvéole, a social beekeeping company. Since 2013, Alvéole has been spreading their passion for beekeeping and environmental sustainability to cities across the globe. They have partnered with hundreds of companies and schools on beekeeping projects that integrate urban agriculture to city life. Each hive creates greater ecological awareness, allowing city dwellers to reconnect with nature and adjust their sense of responsibility towards the environment.
Looking Ahead
Urban beekeeping is a great way to educate city dwellers to the crucial role of bees in food production.
Bees pollinate more than 130 varieties of fruits and vegetables around the globe — that’s a third of our food supply.
Population of bees, butterflies, bumble bees, and other pollinators are in rapid decline all over the world.
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— Environmental remediation Aligned with our commitment to build clean and healthy communities, Fengate employs experts to assess environmental risks and carry out the remediation of historically contaminated properties.
Climate action: TCFD report
Fengate Real Estate ESG Report 2023
As such, Fengate is pleased to announce that we have officially become a Taskforce on Nature-related Financial Disclosures (TNFD) Forum Member in 2023.
Our initiatives