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 our ESG Framework across the Dream group to provide direction on the policies we create and initiatives we undertake. Throughout this Report, you will find references to these Framework Pillars as we demonstrate how we’ve integrated our ESG Framework across the Dream entities. We are excited to share our progress on how we are executing on our ESG strategy in this Report.
ESG Framework Pillars
Creating better places and communities that make positive impacts on people’s lives and the planet.
- Health, Safety and Wellness
- Amenities and Inclusive Atmosphere
- Attainability and Affordability
Building and operating with the future in mind.
- Climate Change Resilience
- Carbon and Resource Efficiency
- Innovation and Technology Adoption
- Sustainable Development
- Sustainable Redevelopment
Fostering inclusive relationships to create value for everyone in our community.
- Tenant Relationships
- Government Collaboration
- Community / NGO Partnerships
- Indigenous Engagement
- Sustainable Procurement
Running a great company that focuses on purpose and profit.
- Diversity, Inclusion and Advancement
- Valuing Employees
- ESG Risk Management
- Corporate Governance
- ESG Impact and Management
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 three key steps:
- Identify current baseline emissions and estimate future emissions
- Develop roadmaps to achieve net zero at the property level
- Establish oversight and transparency to hold ourselves accountable to our stakeholders through comprehensive governance and reporting
Embedding Net Zero Thinking
Throughout 2022, 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.