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$13Bassets under management(1)
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23,810condominium and purpose-built rental units in the Dream group portfolio (including development pipeline)(1)
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11.7Msf of commercial /retail GLA across the Dream group portfolio(1)
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$40Bof real estate transactions completed(1)
Dream Unlimited Corp. (TSX: DRM) is a innovative developer of exceptional office and residential assets in Toronto. DRM owns stabilized income generating assets in both Canada and the U.S. and has an established and successful asset management business, inclusive of $13 billion of assets under management. DRM has a proven track record for being innovative and for its ability to source, structure and execute on compelling investment opportunities. DRM is the asset manager for Dream Impact Trust and Dream Industrial REIT.
(1) All figures as at September 30, 2021
In 2021, Dream further expanded its impact platform by successfully launching one of the world’s first open-ended private funds dedicated exclusively to impact investing. With investments from some of Canada’s leading institutions and family offices, Dream Impact Fund shares a similar mandate to Dream Impact Trust, including the three impact verticals and the Impact Management System.
2020/2021 Highlights
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Net ZeroStarted construction on our permanent Zibi Community Utility (“ZCU” or the “District Energy System”) plant which will enable zero-carbon heating and cooling at our Zibi development -
63%waste diversion at Arapahoe Basin, an increase of 15% over 2019
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13,937metric tons of soil remediated
at Zibi -
$761,065donated to charities and NGOs
in 2020 -
$265,629paid for employee tuition
and professional fees(1) -
96%employee response rate for employee engagement satisfaction survey
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1st Impact
ReportDRM published our first Impact Report that presents our approach to impact investing through the creation of the Dream Impact Management System and reports on our impact performance aligned with the leading impact framework, the Operating Principles for Impact Management -
Developed ESG FrameworkDRM’s new ESG Framework sets out the most material sustainability topics and how we are responding based on the type of asset class and specific objectives
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GIINDRM became a member of the Global Impact Investing Network (GIIN)
(1) Based on employees of Dream Asset Management Corporation, which includes employees of DRM and MPCT.UN. Does not include employees at Dream recreational properties, employees on unpaid leaves of absence (e.g., permanent disability, long-term disability, parental leave) or interns.
ESG Scorecard
| Indicator(1) | 2020 |
| Energy | |
| Energy consumption (ekWh)(2) | 21,131,324 |
| Energy intensity (ekWh/sq.ft.)(3) | 64 |
| Water(3) | |
| Water consumption (m3) | 33,833 |
| Emissions(2)(4) | |
Scope 1 emissions (tCO2e) |
2,338 |
Scope 2 emissions (tCO2e) |
2,038 |
Total GHG emissions (Scope 1 and 2; tCO2e) |
4,376 |
| Metric | Women | Men | |
| Employees(5)(6) | 49% | 51% |
| Managers(5) | 40% | 60% |
| Executive Team(5) | 43% | 57% |
| Role | Responsibilities | Status |
| Chief Responsiblity Officer, President of Asset Management | Provide oversight of sustainablity and ESG | Ongoing |
| Governance and Nominating Committee | Provide oversight of sustainablity and ESG | Ongoing |
| ESG Executive Committee | Adopt ESG framework | Ongoing |
| Sustainability and ESG Team | Implement ESG Framement | Ongoing |
(1) 2019 data is not available. We continue to improve our data collection processes and coverage for transparency and comparability purposes.
(2) Data covers only the Broadview Hotel, Distillery District and Arapahoe Basin Ski Resort.
(3) Data covers only the Broadview Hotel and Distillery District.
(4) GHG emissions are calculated in accordance with the World Resource Institute Greenhouse Gas Protocol. They capture activities DRM has direct and indirect operational control over:
Scope 1 emissions generated directly from its operations, including heating at DRM’s properties.
Scope 2 emissions indirectly associated with generation of purchased electricity, heating, cooling and steam consumed by properties.
(5) Based on employees of Dream Asset Management Corporation, which includes employees of DRM and MPCT.UN. Does not include employees at Dream recreational properties,employees on unpaid leaves of absence (e.g., permanent disability, long-term disability, parental leave) or interns.
(6) Includes employees at all levels.
Environmental
Dream is committed to integrating sustainability into the design, construction and operations of all our buildings.
Sustainable living at Alpine Park
Nestled under an 11-acre ridge-line that provides scenic mountain and prairie views, Alpine Park is an over 600-acre community that offers a unique blend of natural and urban living. We believe the future of community-building isn’t in technologies alone, but in connections to the people and the environment around us. Alpine Park is Dream’s first step of Calgary’s new West End expansion and provides both a green and urban lifestyle.
- Village centre, located an 8-minute walk from almost any corner of the park, with inspiring public art, curated shops and charming, inviting cafes that turn daily routines into opportunities for connection and interaction
- Street-oriented housing with attractive, varied architecture favouring porches over poured driveways
- Wide paths, safely set back from the street weave through beautiful green court parks
- Efficient automobile use, without allowing cars to dominate the environment
- Located close to major highways, maintaining the connection to the heart of downtown Calgary
- Cherishes its natural surroundings with multi-use trails, respectful of environmental features
Key Accomplishments
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DRM, on behalf of the Dream group of companies, joined the Net Zero Asset Managers (NZAM) Initiative, which is a group of international asset managers committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5 degrees Celsius -
DRM, on behalf of the Dream group of companies, signed onto the United Nations Principles for Responsible Investment (UN PRI), which includes a group of more than 4,300 investment managers and asset owners from nearly 90 countries committed to developing a more sustainable global financial system -
DRM is an official supporter of the Task Force for Climate-related Financial Disclosures (TCFD) which provides guidance and recommendations to help companies provide better climate disclosures to support capital allocation. More than 2,300 companies support the TCFD and Dream is one of the first Canadian public real estate companies to become an official supporter
Social
DRM’s strength as an organization comes from our strong and diverse workforce. Our employees possess expertise in a wide variety of areas that benefit our business, from real estate management and development to capital markets, risk, insurance and many more.
Social Procurement at Dream
DRM aims to develop local supply chains to minimize our environmental footprint and create local jobs.
Our new program, The Dream Difference, will establish a clear, intentional and equity-focused strategy for social procurement to leverage and influence our entire supply chain. As a start, Dream is creating a request to suppliers and contractors to highlight their company diversity programs.
For further information please see our
Social Procurement Brochure ↗
DRM Employee Gender Breakdown(1)
(1) Based on employees of Dream Asset Management Corporation, which includes employees of DRM and MPCT.UN. Does not include employees at Dream recreational properties, employees on unpaid leaves of absence (e.g., permanent disability, long-term disability, parental leave) or interns.
(2) Includes employees at all levels
Governance
As part of the ESG Framework, DRM links ESG performance to executive and employee goals and compensation.
Women Lead Here
In 2021, for the second consecutive year, Dream Unlimited Corp is a recipient of the Globe and Mail’s “Women Lead Here” award. With 50% of our Board, 43% of our executives, 40% of our managers, and 49% of our employees being women, we are proud to be recognized for our leadership in corporate Canada.
Sustainability at DRM is managed by the following:
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Chief Responsible Officer; President of Asset Management
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Provide oversight of sustainability and ESG at DRM
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Governance, Environmental and Nominating Committee
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Provide oversight of environmental property risks
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Organization Design and Culture Committee
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Provide oversight of corporate culture and employee satisfaction
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Leaders and Mentors Committee
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Provide oversight of diversity and inclusion at all levels of organization
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ESG Executive Committee
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Adopt ESG framework for each Dream entity
Communicate sustainability strategy and commitment across company and key external stakeholders
Delegate implementation to the Sustainability and ESG team
Report to the Governance and Nominating Committee
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Vice Chair, Development
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Manage the implementation of sustainable practices in the design of select development projects, including the Distillery District, Broadview Hotel, Canary District and West Don Lands
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Head of Impact Investments and Strategy
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Responsible for the execution of Dream’s impact pathways, which includes delivering specified, measurable outcomes for specific social and environmental goals
Identify opportunities with external stakeholders and community partners to further advance DRM’s impact initiatives and broader community objectives
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Sustainability and ESG Team
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Oversee and manage portfolio sustainability initiatives including building certifications, energy, water and waste management and monitoring, as well as strategic initiatives
Meet quarterly with the ESG Executive Committee
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Sustainability Working Groups
+
Serve as a forum to share information across departments and groups
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Sustainability Manager, Arapahoe Basin Ski Area
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Manage the implementation of site-specific sustainability plans and objectives
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Program Manager, Sustainability at Zibi
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Manage the implementation of site-specific sustainability plans and objectives
Environmental
Update on Arapahoe Basin’s 2025 Sustainability Targets
In 2018, Arapahoe Basin implemented a strategic sustainability plan and road-map to achieve completely carbon neutral operations by 2025. Despite the unprecedented 2019/2020 ski season which saw our operations close at the onset of the Covid-19 pandemic, sustainability remained a constant focus and we continue to make steady progress toward our 2025 goals.
Environmental
Reducing waste at Arapahoe Basin
Waste reduction is an accessible way to get involved in sustainable action and a significant focus in the community where Arapahoe Basin operates in Summit County.
- Recycling and composting bins are provided alongside all waste bins
- Staff are encouraged to bring compost and recycling from home
- Unique strategies are employed to divert any and all material we can from the landfill
These efforts all contribute to Arapahoe Basin’s goal of carbon neutral operations by 2025.
Social
The Broadview Hotel
The Broadview Hotel is an example of our social procurement strategy in action. The hotel collaborates with the community to support local artists, social entrepreneurs and independent businesses through the sourcing of various hotel products and services, such as skincare, mini-bar items, vinyl records, coffee and chocolate. This year, we will be expanding to include a specific focus on BIPOC and women-owned businesses.
Social
Indigenous Hub
Canary Block 10 is an innovative development in Toronto’s Canary District that we are working on in partnership with Anishinábe Health Toronto. Canary Block 10 is a mixed-use project that will house the first purpose-built Indigenous Hub in a major North American city. The development will be composed of a 238-unit condominium building, a 206-unit residential rental building, heritage retail space, a community health centre and a mixed-use commercial building that includes a training, education and employment centre, offices for Indigenous-owned businesses and a city daycare. The five-building development will be built to a LEED Gold Standard and draws from Indigenous architectural and design influences to foster a lasting spirit of diversity and inclusivity.
Anishinábe Health Toronto is a community health centre with the mission to improve the health and well-being of Indigenous People in spirit, mind, emotion and body by providing Traditional Healing within a multi-disciplinary healthcare model.
Sustainability Reports
- Previous years +
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Policies
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Disclosure Policy
The objective of our disclosure policy is to ensure that communications to the investing public about Dream are timely, factual and accurate, and disseminated in accordance with all applicable legal and regulatory requirements.
Code of ConductOur Code of Conduct (the “Code) is our statement of the values and principles that guide us in our day-to-day business activities. The keystones are: integrity, respect, fairness, accountability and transparency. The Code supports our commitment to operate our business at the highest level of legal, moral and ethical standards. The Code applies to all directors, officers and employees of Dream Unlimited Corp.
Whistleblower PolicyAt Dream, we are steadfast in our commitment to maintaining the highest business and personal ethical standards by dealing openly and honestly with our investors, tenants, suppliers and employees. With our Whistleblower Policy we marry this commitment to that of securities laws and regulations with respect to accounting standards and internal control standards. We have contracted EthicsPoint Inc., an independent service provider, to manage any complaints or concerns on our behalf. This service reports directly to the Audit Committee of Dream Unlimited Corp. and is available seven (7) days a week, 365 days a year. Any concerns may be reported directly, confidentially, and, if preferred, anonymously, through www.ethicspoint.com.
Majority Voting PolicyThe Corporation has a majority voting policy, requiring that each Director nominee receive the support of a majority of the total number of votes cast by the shareholders entitled to elect such Director nominee, failing which such Director shall submit his or her resignation to the Board for consideration.
Diversity Inclusion & Advancement CommitmentAs one of Canada’s leading real estate companies, we always invest with purpose, embracing creativity and diversity, passion and innovation, while positively impacting our communities and the world around us.
Board Diversity PolicyDream seeks to maintain a Board comprised of talented and dedicated directors whose skills and backgrounds reflect the diverse nature of the business environment in which Dream operates. Accordingly, the composition of the Board is intended to reflect a diverse mix of skills, experience, knowledge and backgrounds, including an appropriate number of women directors.
