ESG
“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 formalized 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 and other environmental, social, and corporate governance (“ESG”) matters in its investment activities. We strive to be responsible investors, including by integrating ESG 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 ESG risks could affect performance of portfolio investments, and, furthermore, that the effective management of ESG issues may contribute positively to returns through alignment of interests of Shorenstein investors, the general partner, joint venture partners, employees, and other key stakeholders.