• $17B
    assets under management(1)(2)
  • ~30,000
    condominium and purpose-built rental units in the Dream group portfolio(2)
  • 10.9M sf
    of commercial/retail GLA across the Dream group portfolio(2)
  • $39B
    of real estate transactions completed(2)
Dream Unlimited Corp. (TSX: DRM) is an 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 $17 billion of assets under management.(1) DRM has a proven track record for its ability to source, structure and execute on compelling investment opportunities.
(1) For the definition of the following supplementary financial measure of Dream Unlimited Corp.: assets under management,
please refer to the “Non-GAAP Measures and Other Disclosures” section of the 2021 Sustainability Update Report.
(2) All figures as of September 30, 2022.

DRM is committed to making a positive impact on the natural environment and the communities in which it operates. When building new communities, making new investments or operating existing assets, DRM integrates ESG considerations into its practices to reduce risks and create value for customers, tenants, employees and home-buyers, while positively impacting communities and the environment.

2021/2022 Highlights

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    Amenities and inclusive atmosphere

    Opened Pangishimo Park, Zibi’s first community park which was designed with Indigenous input and has a naturalized children’s play structure with elements from Zibi’s Heritage Interpretive Plan. The Plan ensures that the cultural heritage values and resources of the Zibi site are respected for future generations

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    Connectivity

    Opened a pedestrian and cycling connection between Zibi and the regional Multi Use Pathway, providing easy access to recreational opportunities and vast green space across the city’s waterfront

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    Certifications

    Published inaugural Impact Report, presenting DRM’s approach to impact investing through the creation of the Dream Impact Management System and reporting on performance aligned with the Operating Principles for Impact Management. The second Impact Report was published in early 2022

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    Sustainable Development

    Remediated 13,500 metric tons of
    soil at Zibi

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    Carbon and resource efficiency

    Installed 18,000 sf of green roofs at Brightwater development

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    Carbon and resource efficiency

    Produced 23,662 kWh of renewable electricity at Arapahoe Basin, contributing to 54% of total electricity being sourced from renewables

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    Sustainable procurement

    Developed Dream’s Social Procurement Strategy to establish a clear, intentional and equity-focused strategy to leverage and influence supply chain. As a start, DRM is surveying all existing vendors to establish a baseline against identified metrics. All new vendors will complete the same survey as part of the accounting on-boarding process. Over the coming years the Social Procurement Strategy will be phased in on a project-by project basis for DRM, D.UN, and MPCT.UN. Please see our Social Procurement Strategy for more information

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    Government collaboration

    Began leasing Aalto Suites in December 2022, a 162-unit rental apartment building at Zibi that was funded and financed through the Canada Mortgage and Housing Corporation (CMHC)’s Rental Construction Financing Initiative (RCFI) program

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    Tenant relationships

    Offered 18 workshops and events at Zibi welcoming over 17,000 visitors / participants to the site

  • ESG impact and management

    Launched the Net Zero Steering Committee, which includes executive representatives from across the Dream group of companies

  • Valuing employees

    Conducted an employee engagement survey to better understand employee satisfaction across a variety of topics

  • Corporate governance

    One of the first Canadian public real
    estate companies to become an official supporter of the Task Force on Climate-related Financial Disclosures (TCFD)

ESG Scorecard

Indicator 2020 2021
Energy
Energy consumption (ekWh) 19,760,739(3) 24,730,688(3)
Energy intensity (ekWh/sq.ft.) 69(4) 47(4)
Water
Water consumption (m3) 30,510(4) 94,092(3)
GHG Emissions(5)

Scope 1 emissions (tCO2e)

2,164 2,625

Scope 2 emissions (tCO2e)

2,018 1,677

Total GHG emissions (Scope 1 and 2; tCO2e)

4,182 4,301
Building Certifications
GLA of portfolio with Green Building Certification (sf) 395,000 395,000

(1) 2019 data is not available. We continue to improve our data collection processes and coverage for transparency and comparability purposes.
(2) The scope of boundary of the data was updated to exclude properties where DRM does not have operational control. As a result, investment assets Gladstone
Hotel and Broadview Hotel are moved to outside DRM’s boundaries for 2020 and 2021 reporting. For more information, please refer to the Supplemental Disclosure
section.
(3) Data coverage includes Distillery District and Arapahoe Basin Ski Resort.
(4) Data coverage includes Distillery District.
(5) 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.
Scope 2 emissions indirectly associated with generation of purchased electricity, heating, cooling and steam consumed by properties.
(6) 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.
(7) Numbers represented as total headcount, not full time equivalent.
(8) Turnover is calculated as a percentage of average employee headcount for 2021.
(9) Percentages are based on total headcount.
(10) Includes employees at all levels.
(11) Managers include Manager level and above.
(12) For the purposes of this Report, Executives include: the Chief Responsible Officer and Chief Financial Officer of DRM.

Environmental

Dream is committed to integrating sustainability into the design, construction and operations of all our buildings.

Zibi’s Net Zero Heating and Cooling Community Utility

The Zibi Community Utility (ZCU) is the only district energy system in a master-planned community in North America to use low-grade, post-industrial waste to heat buildings. The waste heat generates no emissions and directly replaces the burning of natural gas. This is an innovation rarely considered for heating in cold climates and ZCU is one of a few district energy systems in North America to meet 100% of the community’s heating needs without fossil fuels.

Since coming online in December 2021, ZCU has been servicing three residential buildings and three office buildings totaling 615,000 sf. ZCU ramped up to 6MW in heating output in 2021. During the cooling season, the chillers will leverage the Ottawa River as a heat sink to efficiently produce chilled water to cool the buildings.

When completed, all four million square feet of residential and commercial buildings at Zibi will be interconnected through a hydronic loop that delivers heating and cooling energy, saving 4,400 tCO2e per year, the equivalent of taking 1,354 cars off the road. Learn more in Zibi’s One Planet Report.

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Carbon and resource efficiency
Innovation and technology adoption

Block 211

One of the buildings currently being served by the ZCU is Block 211, a state of the art class A office building totaling 175,248 sf that is occupied by the Government of Canada. Block 211 is net zero ready and is 17.5% more efficient than National Energy Code of Canada for Buildings (NECB) 2015 thanks to its design. It also has a 36% lower peak electric demand compared to NECB. Because of its proximity to the future Union Square Park, tenants and visitors will have easy access to green space from their office. The building was completed in November 2021, on time and within the original planned budget – a notable achievement given pandemic-related limitations.

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Innovation and technology adoption
Carbon and resource efficiency
Amenities and inclusive atmosphere

Key Accomplishments

  • Net Zero Asset Managers logo
    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
  • Principles for Responsible Investment logo
    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
  • Task Force on Climate-Related Financial Disclosures logo
    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

MPCT.UN has committed to utilizing its purchasing practices to generate social and economic value in the communities where it develops and manages real estate assets. In 2021, Dream established an internal Executive Steering Committee and a working group of senior leaders that has undertaken extensive research with regards to social procurement opportunities in the real estate industry. The working group undertook a global scan of best practices for social procurement, looking both inside and outside the real estate industry. Publicly available material from government agencies, universities, and large resource extraction and infrastructure companies was reviewed.

The working group’s efforts led to the creation of our formal Social Procurement Strategy. Through the strategy, MPCT.UN is seeking to support equity-seeking groups by:

  • Expanding the diversity of its vendors
  • Ensuring it creates employment opportunities
  • Providing local community benefits through the use and programming of space in its buildings

To activate the strategy, the working group identified consistent themes and measurable goals finding a balance between making the goals impactful and achievable with the time and resources available. MPCT.UN is among the first in Canada’s private sector to set quantifiable targets to meet social procurement goals by 2025.

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Community/NGO partnerships
indigenous engagement
sustainable procurement

  • 20% of the annual value of all contracts to be awarded to local, independent and/or socially responsible businesses
  • 20% of the annual value of all contracts to be awarded to businesses that are majority owned or managed by an equity-seeking group
  • 20% of annual jobs created through capital and operating spending to be filled by equity-seeking groups
  • 30% of apprentice hours worked on development projects to be by equity-seeking groups

DRM Employee Gender Breakdown(1)(2)

(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) Numbers represented as total headcount, not full time equivalent.
(3) Includes employees at all levels.
(4) Managers include Manager level and above.
(5) For the purposes of this Report, Executives include: the Chief Responsible Officer and Chief Financial Officer of DRM.

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, 50% of our executives,(1)(2)(3) 41% of our managers,(1)(2)(4) and 50% of our employees(1)(2)(5) being women, we are proud to be recognized for our leadership in corporate Canada.

(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) Numbers represented as total headcount, not full time equivalent.
(3) For the purposes of this Report, Executives include: the Chief Responsible Officer and Chief Financial Officer of DRM.
(4) Managers include Manager level and above.
(5) Includes employees at all levels.

Sustainability at DRM is managed by the following:

Zibi Boardroom - 30 Adelaide - Toronto, ON
Zibi Boardroom – 30 Adelaide – Toronto, ON

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Sustainability Reports

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