Sustainability
“Sustainability is not just a competitive edge or an optional business strategy—it’s a collective obligation.”
At Shorenstein, sustainability means enhancing investment performance, operational resilience, and business governance for the benefit of the company’s properties, tenants, employees, investors, and communities. We embrace sustainability as an opportunity to improve our business practices and create value while also reducing our impact on the environment and strengthening the communities in which we operate.
Shorenstein strives to be an industry leader in sustainability practices, and in 2008 formed a “Green Committee” with a strong commitment to energy conservation and responsible environmental practices. We aim to employ operational best practices by setting annual goals and measuring our performance through national and international benchmarks such as LEED, ENERGY STAR, Green Lease Leaders, the US Department of Energy Better Buildings Challenge, and GRESB. We believe these efforts have added value to our portfolio, including through reduced operating expenses and increased tenant satisfaction.
Our investment approach aims to incorporate the consideration of sustainability matters in its investment activities. We strive to be responsible investors by integrating Sustainability considerations into investment management processes and ownership practices where appropriate and consistent with our fiduciary duties, with the belief that these factors can have a positive impact on financial performance. Shorenstein recognizes that material Sustainability risks could affect performance of portfolio investments, and, furthermore, that the effective management of Sustainability issues may contribute positively to returns through alignment of interests of Shorenstein investors, the general partner, joint venture partners, employees, and other key stakeholders.
Property Highlights & Case Studies
Sustainability Highlights
BUILDING CERTIFICATIONS & RATINGS
| LEED Certified Buildings | Total ENERGY STAR Benchmarked | Total 2024 ENERGY STAR Certified | Total WELL Health-Safety Rated |
|---|---|---|---|
|
LEED Certified Buildings
Number of Properties: 37 Square Feet: 11.4 million |
Total ENERGY STAR Benchmarked
Number of Properties: 70 Square Feet: 18.5 million |
Total 2024 ENERGY STAR Certified
Number of Properties: 21 Square Feet: 8.3 million |
Total WELL Health-Safety Rated
Number of Properties: 18 Square Feet: 8.4 million |
RENEWABLES STATS
| Off-Site Renewable Energy |
|---|
|
Off-Site Renewable Energy
Square Feet: 5.95 million |
EV CHARGING STATS
| EV Charging Stats |
|---|
|
EV Charging Stats
Number of Properties: 43 |
- Our 2024 Utility Data was third-party assured by Sustainable Investment Group on May 23, 2025.
- The difference in buildings that were benchmarked but not certified represents buildings that do not meet the occupancy minimum for ENERGY STAR at this time.
Performance Indicators
Year-end 2024 Performance
energy
25%
From 2018 Baseline by 2025
energy
Progress toward 2025 goal: 100%
Data Coverage: 94%
water
40%
From 2018 Baseline by 2025
water
Progress toward 2025 goal: 40%
Data Coverage: 92%
waste
75%
Diversion from Landfill by 2025
waste
Progress toward 2025 goal: 51%
Data Coverage: 88%
carbon emissions
50%
From 2018 Baseline by 2025
carbon emissions
Progress toward 2025 goals:
Scope 1 – 45%
Scope 2 – 100%
Data Coverage: 94%
BUILDING PARTNERSHIPS, CERTIFICATIONS, & INITIATIVES
GRESB
The ESG benchmark for real estate assets, GRESB works in collaboration with the industry to define the global standard for sustainability performance in assets and providing standardized and validated ESG data. We have been participating in the GRESB Real Estate Assessment on an annual basis since 2014.
GREEN LEASE LEADERS
Shorenstein has been involved with the Institute for Market Transformation and the Green Lease Leaders program since 2019. Green Lease Leaders sets the standard for what constitutes a Green Lease and recognizes building owners who are effectively using the lease to drive high performance buildings and energy efficiency in commercial buildings. Shorenstein has maintained its Gold level designation since our inaugural participation and renewed this status in 2023.
LEED
The Leadership in Energy and Environmental Design rating system is an internationally recognized green building certification developed by the U.S. Green Building Council (USGBC) and administered by Green Business Certification, Inc. Shorenstein is a Platinum member of USGBC. We require that all Shorenstein existing buildings and development projects pursue LEED certification where feasible. In 2024, our portfolio included 37 LEED certified assets totaling over 11.4 million square feet.
ENERGY STAR CERTIFICATION
The ENERGY STAR platform dynamically scores each building on a percentile scale, measuring its energy performance compared to a nationally representative statistical model. In 2024, 21 properties in our portfolio were ENERGY STAR Certified, totaling 8.3 million square feet.
Better buildings
Better Buildings is an initiative of the U.S. Department of Energy (DOE) designed to improve the lives of the American people by driving leadership in energy innovation. Through Better Buildings, DOE partners with leaders in the public and private sectors to make the nation’s homes, commercial buildings, and industrial plants more energy-efficient by accelerating investment and sharing successful best practices.
UN PRI
Participating as a signatory to the United Nations Principles for Responsible Investing (UN PRI) in 2023, our inaugural reporting year, marked a significant milestone for Shorenstein and reflects a recognition that our responsibility extends beyond our investors to society and the planet.
As a UN PRI signatory, Shorenstein pledges to adhere to its six core principles, which include incorporating ESG considerations into investment decision-making and ownership practices, seeking appropriate ESG disclosure, and promoting the principles in our industry. We plan to align our operation with these principles and strive to promote responsible business practices within the real estate sector.