Woodbourne Capital Management (Woodbourne) is a leading investor, operator, and developer of apartments, seniors’ housing, student housing, self-storage, and other real estate assets located predominantly in urban areas across Canada. Woodbourne has invested in over 70 transactions, representing approximately 18,000 multi-residential units, 8,500 self-storage units, and 6,500 student housing beds, in more than 225 buildings diversified across nine Canadian provinces. Woodbourne believes there are lasting benefits to incorporating ESG principles broadly into our business practices, including as an important input for decision-making at both the corporate and investment levels.

Learn more about Woodbourne’s sustainability work.

Accomplishments at the Building Portfolio

  • Number of buildings enrolled: 2 of 11
  • GHG Emissions Intensity: 1.23 kgCO₂e/sq ft²/yr
  • Total GHG Emissions: 742 tCO₂e/yr

Ten-year resource reduction goals set for energy, greenhouse gas emissions, water, and waste

In 2021, Woodbourne’s ESG committee worked with the senior leadership team to design resource reduction goals and KPIs for the next 10 years. These goals will serve as the foundation and roadmap for future ESG programming.

Established an ESG committee

In 2021, Woodbourne established an ESG committee consisting of external consultants, special advisors, dedicated ESG personnel, senior leadership, and investor relations team. The committee meets weekly to ensure Woodbourne’s ESG-related efforts are moving along and to provide a cross-departmental perspective.

All Fund IV and new assets screened for climate risks

To better understand and plan for the risks of a changing climate, Woodbourne engaged with Moody’s Climate Risk Solutions to screen all Fund IV and new properties on climate risks. Through this comprehensive analysis, risk are able to be identified and mitigation strategies implemented before environmental disaster strikes.

Fund IV operating assets utility and resource usage data tracked

In conjunction with a data management partner, Woodbourne began tracking this data across all Fund IV operating assets. Utility data is currently being tracked and uploaded to Energy Star Portfolio Manager to help understand baselines and set reduction targets. Woodbourne is aiming to add all operating assets in the coming years.

Deep water lake cooling system installed at “The Well” development

“The Well” development project features a 12 story-deep, 2 million gallon storage tank in the subterranean base of the site. This underground well will act as a thermal battery capable of storing energy at night during off-peak times, easing the strain on the electricity grid and reducing costs. All buildings within the development and many more in the surrounding area will have all of their heating and cooling needs supplied by this resilient, low-carbon energy source.

One hundred per cent of commercial corporate travel emissions offset

As of Q1 2022, Woodbourne will be offsetting 100 per cent of our carbon footprint related to commercial corporate air travel. All travel will be offset through the purchase of verified carbon credits from “Cool Effect.”

Disclaimer: Profiles presented are based on information provided by participants. Participants’ GHG emissions performance published are based on utility data submitted and converted to GHG emissions. The emission factors applied aligns with the period of energy data reported (2021). The emission factors utilized for the conversion are calculated based on a combination of sources: Government of Canada (National Inventory Report & Canada’s Proposed Greenhouse Gas Quantification Requirements), Government of Ontario (Guide: Greenhouse Gas Emissions Reporting), The Atmospheric Fund (A Clearer View on Ontario’s Emissions – Electricity emissions factors and guidelines) and Enbridge Gas Inc. (Chemical Composition of Natural Gas).