Woodbourne engaged Stok to develop an ESG strategy that supports the firm’s GRESB and B Corp certification efforts, as well as to implement initiatives in close collaboration with Woodbourne’s ESG Committee and key departments. Specifically, Stok is providing:
At a Glance
Woodbourne Capital Management
National (Canada)
Corporate
45 buildings across 7 assets
Woodbourne Capital Management (Owner & Client)
Toronto Green Building StandardBOMA Best (targeting)
- ESG Strategy
- ESG Program Management
The Challenge
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Creation of an ESG roadmap, workplan, and policies
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KPI development
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Green leasing support
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ESG report content development
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Investor reporting support
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Climate change risk strategy
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Carbon strategy and education
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ESG due diligence for new acquisitions
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Stakeholder engagement and training
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Budgeting for energy efficiency projects
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ESG reporting including GRESB, TCFD, UNPRI, GRI, and investor questionnaires
Henry Heyman
“Stok has been an informed, thoughtful, responsive, and experienced partner in Woodbourne’s ESG efforts. Their team’s organization and knowledge, coupled with their easy collaboration and innovative ideas, have brought a lot of joy and many wins along our ESG journey. The ESG landscape is rapidly evolving and encompasses a wide range of topics, having a trusted partner like Stok to help guide us on our ESG journey is a key to our past and future successes. We couldn’t have accomplished half of what we have without Stok’s valuable help, and we’re excited to continue our partnership as we enhance our ESG program and performance moving forward.”
The Solution
ESG GAP ANALYSIS & MATERIALITY ASSESSMENT
Stok conducted an ESG and GRESB gap analysis to better understand what ESG systems and initiatives Woodbourne already had in place as well as identify areas for improvement. We then conducted a materiality assessment and peer comparison to determine the most impactful ESG initiatives to Woodbourne’s business, stakeholders, and the commercial real estate industry. We applied results, which were heavily focused on efficiency improvements at the asset level, carbon reduction, data tracking, diversity, equity, and inclusion (DEI), and climate change mitigation, to develop a custom ESG roadmap and workplan aligned to initiatives that would have the greatest impact on Woodbourne’s business and stakeholders. This included KPIs for each initiative to measure progress.
ESG COMMITTEE & WORKING GROUP CREATION
Stok facilitated the creation and management of an ESG committee and ESG working group with representation from a variety of departments, including Asset Management, Investor Relations, Investment, Development, and Operations, as well as senior leadership to get buy in on ESG initiatives across the firm as well as provide diverse perspectives on how ESG impacts all departments.
ESG STRATEGY IMPLEMENTATION & ONGOING MANAGEMENT
As Woodbourne’s trusted ESG advisor, Stok supports the implementation of ESG initiatives and management of the overall ESG program. We provide education and training for all employees and stakeholders including property managers to support a collaborative and informed approach. Our team of experts keeps Woodbourne informed on key trends and upcoming regulations to prepare Woodbourne for future reporting requirements and support their culture of doing the right thing.
Photos courtesy of Woodbourne Capital Management
