Dream Office REIT owns well-located, high-quality central business district office properties in major urban centres across Canada, with a focus on downtown Toronto.

2024 Highlights

  • GRESB

    Scored 90/100 in the 2024 GRESB(1) Real Estate Assessment and Placed 3rd out of 10 in the North American Office Comparison Group in the 2024 GRESB Public Disclosure

  • Advocate level

    Recognition achieved under the City of Toronto’s Green Will Initiative program

  • Award for Innovative Excellence

    Winner of the Building Operators and Managers Association (“BOMA”) CREST Award for Innovative Excellence for 30 Adelaide Street East and Emission Reduction (Office under 100,000 sf) for 360 Bay

  • Energy Manager of the Year

    Sumit Khatri and Tugrul Kodaz received the “Energy Manager of the Year 2024” award from Energy Manager Canada

  • Platinum Team Transaction

    Received the Green Lease Leaders Award in 2024 under the category Platinum Team Transaction

  • 9.3 (Negligible)

    Sustainalytics(2)(3) ESG Risk Rating (0-40+; 0 = best)

  • 97%

    of Dream Office’s Canadian properties over 100,000 sf are certified by BOMA BEST with operating standards requiring ongoing management of energy, water, and waste.

(1) All intellectual property rights to this data belong exclusively to GRESB B.V. All rights reserved. GRESB B.V. has no liability to any person (including a natural person, corporate or unincorporated body) for any losses, damages, costs, expenses, or other liabilities suffered as a result of any use of or reliance on any of the information which may be attributed to it.
(2) As at December 31, 2024.
(3) Copyright © 2024 Morningstar Sustainalytics. All rights reserved. This section contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at www.sustainalytics.com/legal-disclaimers.

ESG Scorecard

Indicator 2019 Baseline 2023 2024 YoY% Change % Change from Baseline
Energy
Total energy consumption – Absolute (GJ) 636,525 468,191 465,339
Total Energy Consumption – Intensity (GJ/sf)(3) 0.12 0.09 0.09 -3% -24%
Water
Total Water Consumption – Absolute (m³) 448,106 288,951 303,448
Total Water Consumption – Intensity (m³/sf)(3) 0.083 0.057 0.058 2% -30%
GHG Emissions(4)
GHG Emissions (Scope 1 and 2) – Absolute (tCO₂e) 26,067 17,656 18,353
GHG Emissions (Scope 1 and 2) – Intensity(3) 4.83 3.46 3.52 2% -27%
Waste
Total Waste Generation (tonnes) 1,213 1,602 2,078
Waste Diversion Rate(3) 44% 32% 47% 47% 7%
Certifications and Ratings
Percent of Portfolio with Green Building Certification 96% 97% 97% 6% 98%

(1) Unless otherwise stated, each year’s energy, scope 1 & scope 2 GHG emissions, water, and waste data is based on the relevant owned-Canadian properties where D.UN has operational control. Excludes assets that are under development and major renovations. Co-owned assets (such as Sussex Center) are included at 100% of GLA. For the US portfolio, please refer to the ESG Data Book.
(2) Please refer to the ESG Data Book for more information, including data coverage and sources of emission factors.
(3) Includes assets (at 100% of GLA) owned for the full year.
(4) GHG emissions are calculated in accordance with the World Resource Institute Greenhouse Gas Protocol. This includes emissions from activities under D.UN’s direct and indirect operational control: Scope 1 emissions generated directly from its operations, including heating at the properties. Scope 2 emissions indirectly associated with the consumption of purchased electricity, heating, cooling, and steam. The comparative periods are not presented using the emission factors included in the updated 2025 National Inventory Report, published on May 16, 2025. As such, trends in emissions may be impacted.
(5) Includes only employees 100% dedicated to D.UN and shared services functions for the Dream entities. Excludes employees on unpaid leaves of absence (e.g., permanent disability, long-term disability, parental leave) and interns.
(6) As at December 31, 2024.
(7) Includes employees at all levels.
(8) Includes managers and above.
(9) For the purposes of this report, executives include: the Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer of D.UN.
(10) Numbers represented as total headcount, not full-time equivalent.

Sustainability and ESG-related matters at
Dream Office are managed by the following(1):

(1) The responsibilities set out in this column are for illustrative purposes only, reflect certain relevant ESG matters, and do not purport to reflect the full extent of responsibilities or the full mandate of any of the boards, committees or teams referred to in this chart.

Case Studies

Sustainability Reports

* All intellectual property rights to this data belong exclusively to GRESB B.V. All right reserved. GRESB B.V. has no liability to any person (inclusing a natural person, corporate or unincorporated body) for any losses, damages, costs, expenses or other liabilities suffered as a result of any use of or reliance on any of the information which may be attributed to it.