Founded in 1994 with a vision to revolutionize the way people live and work, the Dream group have become some of Canada’s leading real estate companies, with over $24 billion in assets under management.(1)
(1) As at December 31, 2023. Assets under management is a supplementary financial measure in respect of Dream Unlimited.
Please refer to the Specified Financial Measures and Other Disclosures section of the 2023 Sustainability Report.

ESG Framework

For over two decades, we have been working to make our communities better while maximizing returns for our investors. Building on our history, we announced our ESG Framework in 2021. Since then, our work has focused on generating intentional and measurable environmental and social returns and further embedding ESG throughout our business. 

We have implemented the ESG Framework across all entities and ensured that ESG risks and opportunities are integrated into our business activities including our investment decision-making, asset management, property management, stakeholder engagement, risk management and governance processes.

ESG Framework Pillars

  • Environmental Icon
    Environmental



    • Building certifications

    • Carbon and resource efficiency

    • Climate change resilience

    • Connectivity and low carbon transportation

    • Innovation and technology adoption

    • Sustainable development

    • Sustainable redevelopment


  • Social Icon
    Social



    • Amenities and inclusive atmosphere

    • Attainability and affordability

    • Community and NGO partnerships

    • Diversity, inclusion and advancement

    • Health, safety and wellness

    • Indigenous engagement

    • Sustainable procurement

    • Tenant relationships

    • Valuing employees


  • Government Icon
    Governance



    • Corporate governance

    • ESG impact and management

    • ESG risk management

    • Government collaboration


Net Zero Action Plan

In 2022, the Dream group of companies(1) published our Net Zero by 2035 Action Plan (Net Zero Action Plan) to outline the steps we intend to take to achieve net zero by 2035. Our Net Zero Action Plan includes a detailed implementation plan with interim milestones to reduce our Scope 1, Scope 2, and select Scope 3 GHG emissions.
At an organizational level, our Net Zero Action Plan is focused on the following:

  • Identify current baseline emissions and estimate future emissions
  • Develop roadmaps to achieve net zero at the property level
  • Secure financing and execute capital projects to realize emissions reductions
  • Establish oversight and transparency to hold ourselves accountable to our stakeholders through comprehensive governance and reporting

Embedding Net Zero Thinking

Throughout 2023, our focus has been on how we can successfully work across our organization and create engagement with various departments to execute on our Net Zero Action Plan. We have developed a delivery strategy with processes, systems and tools to guide specific changes and measure progress toward reaching our corporate net zero goals and commitments. This change management process has been successful in part due to continued strong leadership and oversight from the Net Zero Steering Committee, which is composed of selected executives and senior management. In addition, the Net Zero Working Group is made up of over 15 cross-functional champions, working on the day-to-day logistics of embedding net zero thinking and alignment, from the top of the organization down to our individual assets. The Net Zero Working Group hosted over 15 educational, training and strategy collaboration sessions in 2022 with many departments from across the Dream entities.

(1) At the time of publication, the Dream Group of Companies included Dream Unlimited Corp., Dream Impact Trust, Dream Office REIT, and Dream Industrial REIT. Dream Residential REIT was not formed.