ESG Policy | Expertise | Tishman Speyer
Environmental, Social and Governance Policy (ESG Policy)As a leading property developer, owner and operator, Tishman Speyer recognizes the vital importance of enlightened social governance and responsible environmental management. Our activity, which can begin with land purchases and extend through decades of ongoing property ownership, must reflect the values and needs of the regions and communities where we invest. We always strive to find and incorporate the correct balance of economic, social and environmental challenges and oppurtunities at each stage of the ownership cycle. This is both a top-down mandate and an integral part of our culture as we conduct day-to-day business.
Ethics and Standards
Tishman Speyer’s Guiding Principles outline the ethical principles of our global business. Underpinning these core tenets are strict written policies that apply to all employees regarding compliance, business ethics, anticorruption and financial governance.
We adhere to the highest standards of social, employment and environmental practices, striving to make each community in which we operate a better place to live and work.
Commitment to Protecting Biodiversity and Sensitive Environments
As developers and custodians of buildings whose lifecycles span many generations, we are acutely aware that construction and management of these properties must protect and enhance the physical environments they occupy. This entails the protection of existing habitats, controlling pollution and use of resources, and effectively addressing the longer-term impact of transportation infrastructure. Tishman Speyer has a long history of using innovative design to enhance energy efficiency and reduce our carbon footprint. In building truly sustainable properties, we begin with good design and constantly seek to minimize the impact our projects have on the environment, both during construction and operation.
Efficiency has always been at the core of our business. Our vertically integrated platform allows us to identify trends and share best practices across the globe, from London to Los Angeles and Shanghai to São Paulo. By effectively collaborating across business lines and regions, we are able to ensure that we remain at the forefront of industry standards, allowing us to minimize our portfolio’s carbon footprint.
Tishman Speyer is committed to building sustainably certified new developments. This may result in LEED, BREEAM or HQE certifications, depending on the development in question, its location and market expectations. There may also be rare exceptions in which certifications would be impractical or in conflict with our investors’ interests. Our current minimum standards are:
• LEED Silver
• BREEAM “Very Good”
Tishman Speyer’s commitment to driving sustainability into each sector of our business applies at all levels. Consequently, all Tishman Speyer property management teams undergo dedicated training regarding sustainable practices.
Green Standard Operating Procedures (SOPs)
All Tishman Speyer properties are managed in line with our Green SOPs, detailing measures to be taken when undergoing any renovations, cleaning, maintenance or repairs within our buildings around the world.
Supply Chain Management
Given the range of functions within our own business, we are highly conscious of the inherent scale of the supply chain on which we rely. As such, we will seek to ensure that all legislative requirements are not only met within each country and region, but exceeded. Regular spot checks and monitoring of our suppliers is a key means by which we ensure that standards continue to be maintained. In addition, we ensure that we only do business with suppliers who comply with local laws and regulations related to fair labor and wage standards.
Reduction in Consumption Metrics and our Carbon Footprint
Data is critical to our ability to manage our properties effectively. However, data in itself is not the ultimate goal—what it tells us about a property’s consumption trends and the impact of efficiency measures is far more important. Using the trends and patterns we identify from raw data, we are able to share best practices across our portfolio, driving performance and results. We are also implementing new transparency measures for our energy data, allowing both tenants and property management more control over consumption.
Engaging in the Global Debate
Tishman Speyer shares knowledge with our peers, as well as learning from their experiences, as we continue to establish and/or play key roles within Green Building Councils around the world. To date, we have found that there is a remarkable willingness within the real estate community to share evidence and best practices—we welcome the collaboration and are committed to actively contributing to it.