GROSVENOR

Grosvenor, one of the world’s largest privately-owned property businesses, develops, manages, and invests across some of the world’s leading cities. A signatory of the World Green Building Council Net Zero Buildings Commitment, Grosvenor maintains a company-wide ambition to reduce emissions in line with limiting global warming to 1.5°C. In April 2024, Grosvenor published its North American Net Zero Carbon Pathway, developed by Stok. The pathway defines a reductions-first approach to emissions reduction targeting a 42% overall reduction by 2030 and net zero by 2050.

At a Glance

Client:Grosvenor

Location:North America

Industry:Retail, Multifamily, Corporate

Size:10.8M SF

Solutions:

Strategic Carbon Planning
Net Zero & EUI/CUI Target-Setting
GHG Accounting (Scope 1, 2, 3)
Decarbonization Standards & Tool Development
Corporate Communications
Data Management & Improvement
Stakeholder Engagement
Engineering Management

The Challenge

Since 2019, Stok has supported Grosvenor’s North American property business in establishing and evolving its emissions reduction program. This includes implementing robust carbon data collection and accounting processes and developing annual greenhouse gas (GHG) inventories inclusive of Scope 1, 2, and 3. It also includes development of energy use intensity (EUI) and carbon use intensity (CUI) targets, development of standards, guidelines, and tools for development and asset managers, and corporate communications and stakeholder engagement support.

Stok is supporting Grosvenor in operationalizing its North American Net Zero Pathway across 6.3 million square feet of new and 4.5 million of existing portfolio assets. This includes:

Performing portfolio benchmarking to establish baseline performance and EUI/CUI targets across assets.
Prioritizing assets for decarbonization investments.
Developing a Sustainability Standard for new developments and tenant fit-outs.
Conducting supply chain hot spot analysis and developing supplier guidelines and an engagement plan.
Developing corporate communications materials and facilitating stakeholder engagement.
Inventorying and analyzing GHG emissions on an annual basis for performance tracking and reporting.

Tanja Milosevic

Associate Vice President, Sustainability, Grosvenor

“Stok has been a crucial partner in Grosvenor’s North American net zero carbon journey. They continue to navigate complexity and identify actionable solutions that are informed by sound data analysis and exceptional knowledge of the built environment. We appreciate Stok’s diversity of subject matter expertise and ability to get the job done, and in many ways think of them as an extension of our own team. The Stok team’s collaborative spirit and aptitude for problem solving have helped us to define and pursue our goals and continue to make positive contributions to the communities where we operate.”

By the Numbers

With action, expected business as usual (BAU) emissions decrease by 2030 (Scopes 1-3)

30-50%

The Solution

ASSESS & PRIORITIZE ASSETS

Stok began by analyzing asset-level building information and utility data. From this deep data review, Stok was able to provide data quality assurance by identifying specific issues in the data and areas of improvement. After completing portfolio benchmarking to establish a baseline and considering Grosvenor’s targets in line with its projected portfolio growth (business as usual pathway), Stok presented eight key overarching strategies for Grosvenor to implement to achieve net zero carbon by 2030, with a focus on energy efficiency over offsetting. To support implementation and foster corporate education and awareness, Stok held educational sessions and developed internal tools for Grosvenor’s team, including a tool for prioritizing assets for energy improvements and a net zero carbon strategy matrix to assist the investment team in evaluating energy efficiency measures for existing buildings.

SUSTAINABILITY DEVELOPMENT STANDARD

Stok developed another key tool, beginning as an owner’s project requirement document, then broadening to include codes and energy targets, decarbonization strategies, carbon offsets, and other project requirements. This Sustainable Development Standard provides a flexible framework applicable across the portfolio while guiding Grosvenor’s development managers in their engagement with consultants and general contractors through all stages of project development. To support the portfolio-level goal of net zero carbon for all future development projects, this document highlights processes for gathering and informing decision making, such as integrated design charrettes and whole building life cycle assessments (LCAs), as well as reduction strategies such as passive building, electrification, building envelope construction, onsite renewables, and material selection. Stok also developed a Tenant Fit-Out Guide for Grosvenor’s retail and office assets with a similar approach and objective.

GHG EMISSIONS ANALYSIS AND DATA MANAGEMENT

Since 2019, Stok has developed Grosvenor’s comprehensive Scope 1, 2, and 3 GHG inventory for its North American property business. These results are reported internally to Grosvenor executives and key stakeholders, and externally through annual reports and GRESB. In addition to the GHG inventory, Stok developed a foundational data management framework that is flexible and iterative, allowing evolution alongside Grosvenor’s accounting practices. This framework includes an Inventory Management Plan (IMP) that institutionalizes the process for collecting, calculating, and maintaining GHG data; a Data Improvement Roadmap, which prioritizes recommendations for improving data coverage, quality and validation; and a Data Collection Framework for guiding annualized data collection across the business.

SUPPLY CHAIN SPEND ANALYSIS AND ENGAGEMENT PLANNING

Stok began by analyzing category- and supplier-specific spend across Grosvenor’s supply chain, noting areas of highest spend and emissions intensity. Within these categories, Stok analyzed the contribution of individual suppliers, identifying those suppliers with the highest spend who are involved in emissions-intensive activities such as construction, and who are likely to continue to work with Grosvenor on future projects. Stok then prioritized specific supply chain areas and suppliers for an initial pilot program focused on engagement and disclosure founded in Grosvenor’s North American Sustainable Partner Principles and supporting guidance document. Stok supported the development of these guidelines through subject matter expertise on the action areas of Net Zero Carbon, Healthy and Sustainable Buildings, Sustainable Businesses and Communities, Health and Well-being, and Nature and Biodiversity.

Rendering of Grosvenor's Brentwood new development, with a tall building and green space with lots of people playing in it.

Brentwood Block is an 8-acre, pedestrian-focused, low-carbon community bringing 3,500 new homes to Burnaby. The project will not only exceed the City of Burnaby’s sustainability requirements but will also offer 100% electrification for heating, cooling, and in-suite appliances.