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2018 GRESB | Siemens Sustainable Real Assets Conference - Washington DC

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May 17, 2018 at District Center, in partnership with Siemens, hosted by MetLife

GRESB - 2
Emilie Mazzacurati, 427 - 14
Stephen Scofield, South Pole Group - 29
Amanda Wallace, JPMAM - 36
Chris Pyke & Heather Rosenberg - 48
John Porcari, WSP - 70
Ben Myers, Boston Properties - 86
Laura Craft, Heitman - 112
Greg Simmons, Siemens - 123
Jill Ziegler, Forest City Realty Trust - 138
Elena Alschuler, View Inc - 158
Brian Asparro, Enel - 163
Jaime Statter, PEER - 171
Heather Rosenberg - 185
Matt Ellis, Measurabl - 190

Published in: Real Estate
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2018 GRESB | Siemens Sustainable Real Assets Conference - Washington DC

  1. 1. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  2. 2. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE LONDON WASHINGTON SYDNEY April 25 May 17 June 26
  3. 3. 2009 Assesses the ESG performance of property companies, fund managers and developers 2015 2016 Assesses the ESG performance of infrastructure assets and portfolios GRESB Reporting Framework Annual ESG disclosure for real asset portfolios Assesses the ESG performance of real estate lenders 4
  4. 4. 2018 Timeline Preparation | Submission | Validation | Results March July SeptemberApril June March 1 Releases of Assessments and Reference Guides for: • Real Estate • Developer Release of modules: • Health & Well-being • Resilience April 1 GRESB Portal opens for Assessment submission Real Estate Response Check period begins June 8 Real Estate Response Check request deadline June 15 Real Estate Validation process begins July 1 GRESB Real Estate Assessment submission deadline September 6 Launch of individual Assessment results September 11 GRESB Real Estate market reports released 5
  5. 5. 198 850 Participation Development Continued growth 6 Real Estate 51 Funds 134 Assets 64 Funds 160 Assets Infrastructure
  6. 6. The frequency, size, and cost of disasters is increasing due to climate change, population growth, and urbanization Why is Resilience important for all of us? More Risk from Events
  7. 7. 8 RESILIENCE Definition The capacity of companies or funds to survive and thrive in the face of stressors and shocks Scope The combination of management practices, assets and circumstances that create or mitigate risk.
  8. 8. 9 “better access to data will enhance how climate-related risks are assessed, priced, and managed”
  9. 9. P R O G R A M 8 : 3 0 R e g i s t r a t i o n & N e t w o r k i n g W e l c o m e & I n t r o d u c t i o n S e s s i o n 1 : R e s i l i e n c e : w h a t i s i t a n d w h y i s i t i m p o r t a n t f o r t h e r e a l e s t a t e a n d i n f r a s t r u c t u r e s e c t o r s ? C o f f e e & N e t w o r k i n g S e s s i o n 2 : H o w d o e s r e s i l i e n c e t r a n s l a t e i n t o o p p o r t u n i t y a n d r i s k f o r i n v e s t o r s ? R e s i l i e n c e M a d e S i m p l e R e s i l i e n c e & G R E S B 9 : 0 0 9 : 3 0 1 0 : 1 5 1 0 : 4 5 1 1 : 4 5 L u n c h & P o l i c y L e a d e r s h i p / P r i v a t e S e c t o r O p p o r t u n i t i e s N Y - N J T u n n e l p r o j e c t S e s s i o n 3 : C a s e s t u d i e s s h o w c a s i n g r e s i l i e n c e l e a d e r s h i p C o f f e e & N e t w o r k i n g S e s s i o n 4 : W h a t a r e k e y i n n o v a t o r s w o r k i n g o n r i g h t n o w i n t h e w o r l d o f r e s i l i e n c e ? C l o s i n g & K e y T a k e a w a y s D r i n k s & N e t w o r k i n g 1 4 : 0 0 1 4 : 2 0 1 6 : 0 5 1 7 : 0 5 1 7 : 2 01 2 : 0 5 1 5 : 5 0 1 2 : 2 5
  10. 10. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  11. 11. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  12. 12. S E S S I O N 1 Resilience: what is it and why is it impor tant for the real estate and infrastructure sector s? E m i l i e M a z z a c u r a t i F o u n d e r a n d C h i e f E x e c u t i v e O f f i c e r F o u r T w e n t y S e v e n I n t e r v i e w e d b y J o n a t h a n A . S c h e i n G l o b a l H e a d o f B u s i n e s s D e v e l o p m e n t & S V P I n s t i t u t i o n a l R e a l E s t a t e , I n c
  13. 13. © 2017 Four Twenty Seven – All rights reserved Building resilience in real asset portfolios Emilie Mazzacurati, Founder & CEO, Four Twenty Seven GRESB – May 17, 2018
  14. 14. + Day of reckoning? © 2018 Four Twenty Seven – All rights reserved Top 15 cities most exposed to sea level rise by population Source: Climate Central
  15. 15. + © 2018 Four Twenty Seven – All rights reserved
  16. 16. + Impacts on infrastructure © 2017 Four Twenty Seven – All rights reserved n Revenues n Expenditures n Assets n Capital expenditures n Tangible n Intangible n Financing
  17. 17. + Climate change will redistribute wealth © 2018 Four Twenty Seven – All rights reserved
  18. 18. + And population 19 Hauer, Matthew. Migration induced by sea-level rise could reshape the US population landscape, Nature Climate Change 7, 321–325 (2017) •doi:10.1038/nclimate3271 © 2018 Four Twenty Seven – All rights reserved.
  19. 19. + Impacts on city’s economic welfare © 2018 Four Twenty Seven – All rights reserved Source: Four Twenty Seven, Impacts of climate change on muni risk ratings (May 2018)
  20. 20. + What happens when the climate bubble bursts? © 2018 Four Twenty Seven – All rights reserved
  21. 21. + The adaptation finance gap © 2018 Four Twenty Seven – All rights reserved
  22. 22. + Taking action: understand your risks © 2018 Four Twenty Seven – All rights reserved Exposure to extreme rainfall of real estate portfolio Source: Four Twenty Seven
  23. 23. + Taking action: build resilience Value: $92M Residential building, San Jose, CA © 2017 Four Twenty Seven – All rights reserved Rating: Low-Med Risk Hazards Real Estate Sensitivity Site Risk Adaptive Capacity Signal Heavy rainfall High High Medium Coastal Flooding/ SLR Medium- High Medium Medium Temperature Increases Low Low Unknown, building-specific Recommendations Inquire about on-site drainage
  24. 24. + Taking action: Invest in community resilience © 2018 Four Twenty Seven – All rights reserved
  25. 25. © 2017 Four Twenty Seven – All rights reserved Emilie Mazzacurati, Founder and Chief Executive Officer – emazzacurati@427mt.com Tel: 415.420.0074 – www.427mt.com
  26. 26. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  27. 27. S E S S I O N 2 How does resilience translate into oppor tunity and risk for investor s? S t e p h e n S c o f i e l d D i r e c t o r o f F i n a n c i a l I n d u s t r y S o l u t i o n s , N o r t h A m e r i c a S o u t h P o l e G r o u p N i n a J a m e s G M C o r p o r a t e S u s t a i n a b i l i t y I n v e s t a O f f i c e M a n a g e m e n t R a e l M c N a l l y D i r e c t o r B l a c k R o c k A m a n d a W a l l a c e M a n a g i n g D i r e c t o r I n f r a s t r u c t u r e I n v e s t m e n t s G r o u p J . P . M o r g a n A s s e t M a n a g e m e n t
  28. 28. Climate Risk Management & Institutional Investors
  29. 29. Disclosure & Transparency: Investor Initiatives & Legislation Global Investor Statement on Climate Change of 350 investors Portfolio Decarbonization Coalition with Allianz, AP4, Amundi and others UN PRI Montreal Carbon Pledge with 170+ signatories (USD 10tn+) Mandatory investments transparency laws in France California, Sweden The Investor Agenda Accelerate and scale up the actions that are critical to tackling climate change and achieving the goals of the Paris Agreement. Task Force on Climate Disclosure TCFD G20, FSB leadership
  30. 30. TCFD: Regulatory Up Take
  31. 31. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  32. 32. FOR INSTITUTIONAL/WHOLESALE/PROFESSIONAL CLIENTS AND QUALIFIED INVESTORS ONLY – NOT FOR RETAIL USE OR DISTRIBUTION Resilience in Infrastructure Assets The Preparedness Imperative
  33. 33. STRICTLY PRIVATE | CONFIDENTIAL 37 | FOR INSTITUTIONAL/WHOLESALE/PROFESSIONAL CLIENTS AND QUALIFIED INVESTORS ONLY – NOT FOR RETAIL USE OR DISTRIBUTION Resilience Approach n Review climate change impact in specific regions of the world – including those where material suppliers are located n Identify and assess actual and potential impacts of climate-related risks and opportunities for the company/asset and include in strategic and financial planning n Review metrics and targets used to assess and manage relevant climate-related risks and opportunities n Build infrastructure assets to a higher engineering standard n Take initiative rather than wait to see what happens – planning, testing, refining n Focus on those things that can be controlled n Monitor service reliability immediately before, during and after extreme weather n Implement communication programs (employees, customers, communities, regulators and supply chain) for immediately before, during and after extreme weather n Assess supply chain, including contractors, sustainability during and after extreme weather n Conduct after event reviews to surface learnings n Share best practices across portfolio and with industry more broadly Planning Experiencing and Learning Resilience is about the strength of our assets, how to use that strength during challenging times and what the assets can do to bounce back
  34. 34. STRICTLY PRIVATE | CONFIDENTIAL 38 | FOR INSTITUTIONAL/WHOLESALE/PROFESSIONAL CLIENTS AND QUALIFIED INVESTORS ONLY – NOT FOR RETAIL USE OR DISTRIBUTION Identifying Stakeholders in Preparing and Maintaining a Resiliency Plan Employees Company Operations Customers Communications Supply Chain and Third Parties Community Environmental Organizations Government Agencies Emergency Services Providing alternate options, choices and substitutions under shocks and stressors Strength or resistance of a company, asset or system to withstand external demands without material interruption Resilience Capacity to mobilize needed resources and services in emergencies and implement a resilience roadmap/communications system for stakeholders Speed at which a disruption can be overcome IT and Technology Identifying risks and creating a plan to prepare for events related to natural disasters, climate change, population growth, rapid urbanization and other factors related to resilience
  35. 35. STRICTLY PRIVATE | CONFIDENTIAL 39 | FOR INSTITUTIONAL/WHOLESALE/PROFESSIONAL CLIENTS AND QUALIFIED INVESTORS ONLY – NOT FOR RETAIL USE OR DISTRIBUTION Renewables Case Study: Preparing for Natural Disasters Global solar power producer that develops, builds, owns and operates solar power plants Solar Plants and Resilience • In September 2017, Hurricane Maria slammed into Puerto Rico and Hurricane Irma made landfall in Florida • Operations: • While damage on Puerto Rico was severe to homes, businesses and other power producers (including catastrophic damage to the energy grid), damage to the company’s 2 solar plants on the island was minimal (>3% of panels) • This was due to the company’s high engineering standards (above 150 year storm event) and the quality work done by the contractors during the construction at each site • Direct result of the company’s ESG-focus and resilience preparation for weather and natural disasters Employees: • To prepare for the hurricane Irma, the company pro-actively booked a block of hotel rooms for employees and their families which provided them with a safe place to stay with water and electricity and allowed for employees to get back to work quickly after the hurricane to help to restore the power to the community
  36. 36. STRICTLY PRIVATE | CONFIDENTIAL 40 | FOR INSTITUTIONAL/WHOLESALE/PROFESSIONAL CLIENTS AND QUALIFIED INVESTORS ONLY – NOT FOR RETAIL USE OR DISTRIBUTION Distribution Case Study: Stakeholder Communication Through Weather Events Regulated electricity distribution network providing power to over five million people in northwest England Resilience and Effective Customer Communication Source: Electricity North West materials. Storm Desmond Communication Recap • In 2015, Storm Desmond hit northwest UK and caused widespread damage and disruption to the area (loss of power to 55,000 people) and caused severe flooding (a month’s worth of rain fell in just 24 hours, the highest rainfall ever recorded in the UK) • The company has invested over $350 million in upgrading the power systems and underground electricity cables • Increased customer and stakeholder communication to prepare for weather events and provide updates during and after storms (created Priority Services Register that customers can sign up for and receive extra communications) • In 2017, several storms (including Storm Emma – Beast from the East) caused disruption in the UK by impacting power networks due to strong rains and wind • The company worked through the night to repair damages and restore power to the majority of customers through the different storms • The company communicated to customers before, during and after the storms about power cuts – available 24/7
  37. 37. STRICTLY PRIVATE | CONFIDENTIAL 41 | FOR INSTITUTIONAL/WHOLESALE/PROFESSIONAL CLIENTS AND QUALIFIED INVESTORS ONLY – NOT FOR RETAIL USE OR DISTRIBUTION Risk and Disclosures NOT FOR RETAIL DISTRIBUTION: This communication has been prepared exclusively for institutional/wholesale/professional clients and qualified investors only as defined by local laws and regulations. The views contained herein are not to be taken as an advice or a recommendation to buy or sell any investment in any jurisdiction, nor is it a commitment from J.P. Morgan Asset Management or any of its subsidiaries to participate in any of the transactions mentioned herein. Any forecasts, figures, opinions or investment techniques and strategies set out are for information purposes only, based on certain assumptions and current market conditions and are subject to change without prior notice. All information presented herein is considered to be accurate at the time of writing, but no warranty of accuracy is given and no liability in respect of any error or omission is accepted. This material does not contain sufficient information to support an investment decision and it should not be relied upon by you in evaluating the merits of investing in any securities or products. In addition, users should make an independent assessment of the legal, regulatory, tax, credit, and accounting implications and determine, together with their own professional advisers, if any investment mentioned herein is believed to be suitable to their personal goals. Investors should ensure that they obtain all available relevant information before making any investment. It should be noted that investment involves risks, the value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested. Both past performance and yield may not be a reliable guide to future performance. All case studies are shown for illustrative purposes only and should not be relied upon as advice or interpreted as a recommendation. They are based on current market conditions that constitute our judgment and are subject to change. Results shown are not meant to be representative of actual investment results. Past performance is not necessarily indicative of the likely future performance of an investment. Securities products, if presented in the U.S., are offered by J.P. Morgan Institutional Investments, Inc., member FINRA/SIPC. J.P. Morgan Asset Management is the brand for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide. This communication is issued by the following entities: in the United Kingdom by JPMorgan Asset Management (UK) Limited, which is authorized and regulated by the Financial Conduct Authority; in other European jurisdictions by JPMorgan Asset Management (Europe) S.à r.l.; in Hong Kong by JF Asset Management Limited, or JPMorgan Funds (Asia) Limited, or JPMorgan Asset Management Real Assets (Asia) Limited; in Singapore by JPMorgan Asset Management (Singapore) Limited (Co. Reg. No. 197601586K), or JPMorgan Asset Management Real Assets (Singapore) Pte Ltd (Co. Reg. No. 201120355E); in Taiwan by JPMorgan Asset Management (Taiwan) Limited; in Japan by JPMorgan Asset Management (Japan) Limited which is a member of the Investment Trusts Association, Japan, the Japan Investment Advisers Association, Type II Financial Instruments Firms Association and the Japan Securities Dealers Association and is regulated by the Financial Services Agency (registration number “Kanto Local Finance Bureau (Financial Instruments Firm) No. 330”); in Australia to wholesale clients only as defined in section 761A and 761G of the Corporations Act 2001 (Cth) by JPMorgan Asset Management (Australia) Limited (ABN 55143832080) (AFSL 376919); in Brazil by Banco J.P. Morgan S.A.; in Canada for institutional clients’ use only by JPMorgan Asset Management (Canada) Inc., and in the United States by JPMorgan Distribution Services Inc. and J.P. Morgan Institutional Investments, Inc., both members of FINRA/SIPC.; and J.P. Morgan Investment Management Inc., which is regulated by the Securities and Exchange Commission. Copyright 2018 JPMorgan Chase & Co. All rights reserved
  38. 38. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  39. 39. S E S S I O N 2 How does resilience translate into oppor tunity and risk for investor s? S t e p h e n S c o f i e l d D i r e c t o r o f F i n a n c i a l I n d u s t r y S o l u t i o n s , N o r t h A m e r i c a S o u t h P o l e G r o u p N i n a J a m e s G M C o r p o r a t e S u s t a i n a b i l i t y I n v e s t a O f f i c e M a n a g e m e n t R a e l M c N a l l y D i r e c t o r B l a c k R o c k A m a n d a W a l l a c e M a n a g i n g D i r e c t o r I n f r a s t r u c t u r e I n v e s t m e n t s G r o u p J . P . M o r g a n A s s e t M a n a g e m e n t
  40. 40. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  41. 41. J o s h S a w i s l a k A I C P , G l o b a l D i r e c t o r o f R e s i l i e n c e A E C O MResilience Made Simple
  42. 42. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  43. 43. C h r i s P y k e R e s e a r c h O f f i c e r U . S . G r e e n B u i l d i n g C o u n c i l H e a t h e r J o y R o s e n b e r g F o u n d e r B u i l d i n g R e s i l i e n c e N e t w o r k Resilience & GRESB
  44. 44. Resilience
  45. 45. 49 Motivation for Action Resilience 1.Investor demand for information about the resilience of property and infrastructure companies and funds; and 1.On-the-ground action to promote resilience by leading companies and funds.
  46. 46. 50 Motivation for Action Losses Today
  47. 47. 51 Motivation for Action Future Risks
  48. 48. 52 Motivation for Action Industry Leadership Risk Assessment Planning & Design Operations
  49. 49. 53 Motivation for Action Recommendations for Reporting
  50. 50. 54 Resilience Definition and Scope Definition: The capacity of individuals, organizations and communities to survive and thrive in the face of stressors and shocks Scope: The combination of management, assets, circumstances, and operational practices that create or mitigate risk.
  51. 51. 55 Dimensions of Resilience Aware. Prepared. Capable. Employees Tenants Community Partners Buildings Infrastructure Natural systems Business Processes Products & Services Market Position Financial Capabilities Physical SocialEconomic
  52. 52. 56 Resilient Organizations Qualities • Qualified and empowered leadership • Integrated, coordinated internal team • Strong, tested external partnerships • High level of situational awareness • Ability to perceive threats and opportunities • Ability to mitigate, prepare for and adapt to disruptive change • Ability to respond quickly and effectively • Ability to learn from experience and improve over time
  53. 53. 57 Transparency GRESB Assessment 2013 2011 2012 2014 2015 2016 2017 GRESB provides transparency for ESG performance
  54. 54. 58 Transparency GRESB Assessment 2013 2011 2012 2014 2015 2016 2017 What is the capacity of organizations to survive and thrive in the face of shocks and stressors?
  55. 55. 59 Resilience Module Structure A supplement for GRESB Real Estate and Infrastructure with new indicators addressing: •Leadership and accountability •Risk assessment •Goals and management strategies •Experience and learning
  56. 56. 60 Resilience Module Industry Challenges/Opportunities •Absent or fragmented leadership and lines of accountability •Changing capabilities for hazard assessment •Confusion between hazard and risk •Variation in legal perspectives on risk communication •Untested business strategies •Reliance on historic climatic data •Absent or immature systems for evaluation and learning
  57. 57. 61 Resilience Module Development Plan 2018-2020 Year 1 Year 2 Year 3 Raise awareness Establish an industry baseline using a global snapshot of practice and performance for property and infrastructure companies Raise expectations for practice and performance Establish a global benchmark for property and infrastructure companies Track changes in practice and performance Align with emerging industry standards, guidelines, and rating systems
  58. 58. 62 Resilience Module Alignment with TCFD Recommendations Year 1 Year 2 Year 3 Governance Risk Assessment Strategy Governance Risk Assessment Strategy Metrics & Targets Governance Risk Assessment Strategy Metrics & Targets Standards & Certifications
  59. 59. 63 Resilience Module 2018 Milestones April-June: Resilience Module open for participation July-August: data validation September-October: release of year 1 results November-December: review and improvement
  60. 60. Resilience Road Ahead
  61. 61. Learn more on GRESB.com Participate in the Resilience Module Action
  62. 62. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  63. 63. L U N C H Policy Leader ship/ Private Sector Oppor tunities M o d e r a t o r : M a t t E l l i s C E O M e a s u r a b l D a n C a r o l S e n i o r A d v i s o r f o r I n f r a s t r u c t u r e a n d E n e r g y C a l i f o r n i a G o v e r n o r J e r r y B r o w n K e v i n J . B u s h C h i e f R e s i l i e n c e O f f i c e r W a s h i n g t o n , D . C . S e t h M i l l e r G a b r i e l D i r e c t o r O f f i c e o f P u b l i c P r i v a t e - P a r t n e r s h i p s ( O P 3 ) D C G o v e r n m e n t
  64. 64. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  65. 65. J o h n D . P o r c a r i P r e s i d e n t o f U S A d v i s o r y S e r v i c e s W S PNY-NJ Tunnel project
  66. 66. THE GATEWAY PROGRAM - RESILIENCY AND CAPACITY INVESTMENT May 17, 2018 John D. Porcari, WSP USA GRESB Sustainable Real Assets Conference
  67. 67. GLOBAL PARTNERS FOR SUSTAINABLE INFRASTRUCTURE As a GRESB global partner, WSP supports all aspects of the GRESB process, including compiling sustainability performance data; developing strategy, policy and governance programs, setting goals and targets; assessing risk and opportunity; engaging stakeholders and responding to GRESB’s annual assessments. 71
  68. 68. GATEWAY: THE MOST URGENT PROJECT IN AMERICA • Busiest section of NEC is between Penn Station New York & Newark, NJ (450 trains, 200k trips/day) constrained by a two-track bottleneck • North River Tunnel, Portal Bridge & other infrastructure dates to early 1900’s • PSNY regularly operates at capacity (1,300 train movements daily on 21 tracks) • Capacity constraints + aging infrastructure = ↑ risk to 10% of U.S. GDP • Super Storm Sandy accelerated degradation of these assets 72
  69. 69. STRATEGIC INVESTMENTS TO PRESERVE & EXPAND NEC 73
  70. 70. Hudson Tunnel Project Portal North Bridge Project PHASE I: ADDRESSING IMMEDIATE NEEDS 74
  71. 71. Portal South Bridge Secaucus Station Expansion Bergen Loop NJ Rail Yard - Site TBD Penn Station Expansion Sawtooth Bridge Replacement PHASE II: BUILDING FOR THE FUTURE 75
  72. 72. • Purpose: Replace century-old swing bridge over Hackensack River in NJ with new, high-level, fixed span • Frequent failures of mechanical and electrical systems cause hours of delay and hundreds of canceled trains • Project is fully designed & permitted • Early work underway, funded by $16m TIGER grant + $4m NJT match • Financial plan in place: • Port Authority of NY/NJ pledged $284m to support low-cost loans • NJT & Amtrak commitments in place • Accepted into project development pipeline for FTA Core Capacity grant program • Requested entry into engineering phase in November 2017 • Financial plan being amended to support re-rating from FTA Portal Bridge rotates open for river traffic Rendering of the new bridge – a high-level fixed span PORTAL NORTH BRIDGE PROJECT 76
  73. 73. Purpose: Preserve NEC functionality by repairing existing North River Tunnel and strengthen resiliency by creating redundant capacity for Amtrak & NJ TRANSIT HUDSON TUNNEL PROJECT 77
  74. 74. • Super Storm Sandy caused a 5-day closure of NEC • 3.5 million gallons of sea water pumped out of North River Tunnel • Salts & chlorides left behind continue to damage internal components (concrete bench walls, high- voltage cables and other infrastructure) • Tunnel is safe but increasingly unreliable; rehab required ASAP • Reconstruction requires ~2 years per tube • Without new tunnel in place, closure would devastate the regional economy SUPER STORM SANDY CAUSED SEVERE DAMAGE 78
  75. 75. TUNNEL CLOSURE WOULD CRIPPLE THE REGION 79
  76. 76. • Accelerated environmental review led by FRA/NJT nearing completion • Preliminary Engineering led by Amtrak advancing in support of NEPA • Financial plan for $12.7 billion project being amended to support FTA re-rating • Construction start: 2019 or sooner HUDSON TUNNEL PROJECT: NO TIME TO WASTE! 80
  77. 77. Preservation and Resiliency • Replacement of century-old critical infrastructure • Preservation of existing NEC service to Penn Station New York • Protection from weather-related and man- made events Capacity • Roughly double trans-Hudson capacity (approx. 48 trains/hr) • Elimination of two-track bottleneck at busiest point on Northeast Corridor • Redundancy for stable operations THE GATEWAY PROGRAM WILL DELIVER… 81
  78. 78. • Design Flood Elevation of all components will be 5 feet higher than the current Base Flood Elevation at any given location, based on the latest and best available FEMA data • Project elements will be designed to the highest cost-effective standards • All elements will be designed to allow for even further future protection upgrades • The track bed within the floodplain will feature flood-resistant design To avoid, minimize, and mitigate the potential risks of severe storms and flooding in the future: HUDSON TUNNEL PROJECT RESILIENCY 82
  79. 79. THANK YOU! More info/resources at: nec.amtrak.com www.gatewayprogram.org www.hudsontunnelproject.com 83
  80. 80. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  81. 81. S E S S I O N 3 Case studies showcasing resilience leader ship M o d e r a t o r : D a n W i n t e r s H e a d o f A m e r i c a s G R E S B B e n M y e r s D i r e c t o r o f S u s t a i n a b i l i t y B o s t o n P r o p e r t i e s A n n K o s m a l S t r a t e g i c R i s k M a n a g e m e n t & R e s i l i e n c e O f f i c e o f F e d e r a l H i g h - P e r f o r m a n c e B u i l d i n g s , U . S . G e n e r a l S e r v i c e s A d m i n i s t r a t i o n L a u r a C r a f t H e a d o f G l o b a l S u s t a i n a b i l i t y H e i t m a n G r e g S i m m o n s M a n a g i n g D i r e c t o r , E n t e r p r i s e C l i e n t S o l u t i o n s S i e m e n s B u i l d i n g T e c h n o l o g i e s J i l l Z i e g l e r D i r e c t o r o f S u s t a i n a b i l i t y a n d C o r p o r a t e R e s p o n s i b i l i t y F o r e s t C i t y R e a l t y T r u s t
  82. 82. Integrating Resiliency at the Portfolio Level
  83. 83. • Promote our growth and operations in a sustainable and responsible manner • Focus on the economic, social, and environmental aspects of our activities • Maximize sustainability performance transparency through the disclosure of environmental, social and governance (ESG) data Sustainability Strategy
  84. 84. Reduce Operating Costs Protect Asset Value Grow Socially Responsible Investment
  85. 85. Materiality Assessment 89
  86. 86. When there’s a scoreboard, people play differently.
  87. 87. Performance Management and Disclosure Performance Scoring, Benchmarking and Certification Real-time Performance Monitoring Analysis, Reporting and Disclosure
  88. 88. ESG Performance Benchmarking 92 • Ranked 41st out of 823 global companies in 2017 (among the top 5% of all participants) • Achieved highest “Green Star” rating last 6 years and a GRESB 5-Star Rating
  89. 89. GOAL PROGRESS NOTES 32x25 Energy Use Reduction Reduce energy use intensity, targets a 32% reduction by 2025. Units are kBtu/SF. BXP reached 72% of this goal by the end of 2017. The Company has previously exceeded a 2020 target and has recorded a 23% energy use intensity reduction since 2008. 45x25 Greenhouse Gas Reduction Reduce Scope 1 and Scope 2 greenhouse gas emissions intensity, targets a 45% reduction by 2025. Units are kgCO2e/SF. BXP reached 84% of this goal by the end of 2017. The Company had previously exceeded a 2020 target and has recorded a 38% greenhouse gas intensity reduction since 2008. 30x25 Water Use Reduction Reduce water use intensity, targets a 30% reduction by 2025. Units are gallons/SF. BXP reached 87% of this goal by the end of 2017. The Company had previously exceeded a 2020 target and has recorded a 26% water use intensity reduction since 2008. 65x20 Waste Diversion Increase waste diverted from landfill, targets a 65% diversion rate by 2020. Units are % diverted. BXP reached 83% of this goal by the end of 2017. The Company continues to make progress towards achieving a waste diversion rate of 65%. Sustainability Goals 93
  90. 90. Climate Action Leadership 94 38%
  91. 91. Coastal Resiliency
  92. 92. Times Square Tower New York Atlantic Wharf Boston 601 Massachusetts Avenue Washington, DC 888 Boylston Street Boston Salesforce Tower San Francisco
  93. 93. Hurricane Sandy 97 • Record-setting storm surge caused extensive damage along large portions of New Jersey, New York, Connecticut, Rhode Island and Massachusetts coastal zones • $50 billion in property damage • In New York City, 51 square miles flooded • 17% of the city’s total land mass • $19 billion in property damage BXP portfolio • 17 properties, physical damage • 2 properties, time element loss • Total Sandy Claim = $557K
  94. 94. Source: NASA/NOAA Satellite Image, Bomb Cyclone, January 4, 2018 98
  95. 95. 99
  96. 96. Source: Nancy Lane 100
  97. 97. Source: NOAA 101
  98. 98. 102
  99. 99. 103
  100. 100. Preliminary Flood Vulnerability Assessment
  101. 101. Resiliency Planning 105 • What are our known exposures to flood risk? • How may these risks change over time? • What cost effective measures should we be taking to improve the resilience of our portfolio? • How are government entities planning for sea level rise and how may these efforts impact real estate companies?
  102. 102. Sea Level Rise Predictions SLR Consensus 2050 2070 2100 Low High Low High Low High BRAG 7 18 16 37 29 89 NPCC 10 20 15 35 22 50 NCA 6 18 8 30 12 48 NRC 11 24 24 45 36 66 NOAA 4 25 6 43 8 79 Average 8 21 14 38 21 66 Design SLR 18” 33” 55”
  103. 103. Washington, DC 107 500 East Street Capital Gallery Market Square North
  104. 104. 108 Recommendation: Acquisitions and Development Integrate climate preparedness consideration into all new development and acquisition decisions, including: • Site selection • Elevation of ground floor above BFE, now and future • Elevation of critical equipment above BFE, now and future • Emergency power generation • Grid resilience and alternative power generation • Floodable first floors • Passive survivability
  105. 105. Marketing Resilience 109
  106. 106. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  107. 107. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  108. 108. Building Resilience Greg Simmons | Siemens Building Technologies usa.siemens.com/ecsRestricted © Siemens Building Technologies 2018
  109. 109. Restricted © Siemens Building Technologies 2018 May 2018Page 2 Greg Simmons / Building Performance & Sustainability The Enormous Global Impact Of Buildings 40%of all energy consumed globally 33%of all green-house gases emissions 25%of all water consumed globally Sources: CommScope/IDC Energy Insights, Business Strategy: Global Smart Building Technology Spending 2015-209 Forecast Intel, Smarter Building & Homes With the Internet of Things
  110. 110. Source: Ross, L. Arrow; K., Cialdini; R, Diamond-Smith N.; Diamond, J.; Murphy, C. (2016). The climate change challenge and barriers to the exercise of foresight intelligence. BioScience, 66(5), 363-370. Schneier, B. (2013). Carry on. Sound advice from Schneier on security: John Willey & Sons … our ability to perceive and manage risk still functions in the same way as when humankind first developed … when little knowledge about the probabilities and impact of risk exists (e.g. climate change), humans are tempted to ignore them
  111. 111. Blue Lake Rancheria Resiliency Case Study usa.siemens.com/ecsRestricted © Siemens Building Technologies 2018
  112. 112. Restricted © Siemens Building Technologies 2018 May 2018Page 5 Greg Simmons / Building Performance & Sustainability About Blue Lake Rancheria • A federally recognized Native American tribe in California “The Tribal Council is very concerned about the increased threats—and severe health and economic costs—of flooding, large storms, and other imminent impacts of climate change. The Tribe is working to stabilize the environment, and they’re willing to invest in the work.” Jana Ganion, Sustainability Director • The site is rural and geographically isolated. Risks include seismic events, storms (high winds and flooding), landslides, and wildfires. • 100-acre reservation including government offices, a casino, a hotel, a Red Cross Safety Shelter, and an emergency operations center.
  113. 113. Restricted © Siemens Building Technologies 2018 May 2018Page 6 Greg Simmons / Building Performance & Sustainability Three Fundamental Questions Where are you now? Requiring good quality of data & 100% honesty Where do you want to go? Must be defined as clearly as possible Are you ready to commit to become more resilient? 1 2 3
  114. 114. Restricted © Siemens Building Technologies 2018 May 2018Page 7 Greg Simmons / Building Performance & Sustainability How Resilient Are You? Exposing Key Vulnerabilities Grid Constraints1 Regulatory/Voluntary Obligations2 Exposure to Price Volatility 5 Shifting Behaviors3 Obsolete Technology4 Cyber Security 6 Reputation/Business Mission 7
  115. 115. Restricted © Siemens Building Technologies 2018 May 2018Page 8 Greg Simmons / Building Performance & Sustainability Reliance Required Alignment Across Disparate Resources A True Partnership Blue Lake Rancheria, Humboldt State University, PG&E, and Siemens partnered to support the project. Funding was provided in part by a $5 million grant from the California Energy Commission’s Electric Program Investment Charge A Complex Challenge • Coordination of diverse energy sources: ‒ 0.5 MW solar PV, ‒ 950 kWh battery storage system, ‒ a biomass fuel cell, and ‒ diesel generators • Assets need to be optimally managed and controlled to achieve energy efficiency, cost savings, and emission goals. • Operations need to be automated to allow limited staff to manage the system in event of a grid outage to ensure energy security for the on-site emergency shelter.
  116. 116. Restricted © Siemens Building Technologies 2018 May 2018Page 9 Greg Simmons / Building Performance & Sustainability A Smart And Resilient Energy System 1 MW Diesel Generator 175 kW Fuel Cell + Biomass 0.5 MW Solar ~1 MW Battery Storage Siemens Spectrum Power Microgrid Management System Project Benefits • Provides the ability to “island” for up to 7 days during a grid outage • Provides renewable energy generation for up to 40% of the site’s annual consumption • Enables participation PG&E’s demand response program • Reduces annual electrical consumption from the grid by at least 680 MWH • Reduces annual greenhouse gas emissions more than 150 metric tons CO2 • Microgrid powering critical infrastructure will save the Tribe approximately $200,000 per year Ø Blue Lake Resiliency - Short Video (42 Seconds)
  117. 117. Restricted © Siemens Building Technologies 2018 May 2018Page 10 Greg Simmons / Building Performance & Sustainability Did The Blue Lake Rancheria Become More Resilient? Grid Constraints Regulatory/Voluntary Obligations Price Volatility Cyber Security Reputation/Business Mission • Extra capacity from onsite generation • Control of peak loads • “Islanding” for up to 7 days • Eliminating 150 tones of CO2 per year • Use less, pay less • Earning from Demand Response • Control of peak loads • ~$200,000 per year in energy savings • White House / US DoE “Climate Action Champion” • Appointed to the US DoE Indian Country Energy and Infrastructure Working Group • PG&E “Golden Orb Award” • US EPA “Program Champion” • Siemens microgrid management software offers fully encrypted and secure communication • Siemens provides ongoing security updates, standardized patch management, and virus protection Obsolete Technology • Identification and management of critical assets • Siemens microgrid management software predicts load and dynamically manages generation Shifting Behaviors • Supports future plans for the Tribe’s EV fleet
  118. 118. Restricted © Siemens Building Technologies 2018 May 2018Page 11 Greg Simmons / Building Performance & Sustainability Value Generation Through Resilience New earning model and cash flow Improved efficiency Earnings from demand response Ownership Asset Value Increases While Investments are Protected
  119. 119. Restricted © Siemens Building Technologies 2018 May 2018Page 12 Greg Simmons / Building Performance & Sustainability Key Takeaways Business continuity risks represent a growing challenge Resilience is not a necessary evil. Resilience can be a great business model! Find the right partner/trusted advisor 1 2 3 4 Manage “unrealistic optimism”
  120. 120. Restricted © Siemens Building Technologies 2018 May 2018Page 13 Greg Simmons / Building Performance & Sustainability Greg Simmons Managing Director Siemens Industry, Inc. Building Technologies Division Building Performance & Sustainability Chantilly, Virginia USA Mobile: +1 571 926 3329 Email: Greg.Simmons@Siemens.com www.linkedin.com/in/simmonsgreg/ Contact Information usa.siemens.com/ecs
  121. 121. Appendix usa.siemens.com/ecsRestricted © Siemens Building Technologies 2018
  122. 122. Restricted © Siemens Building Technologies 2018 May 2018Page 15 Greg Simmons / Building Performance & Sustainability Committed To Carbon-Neutrality By 2030
  123. 123. Integrating Resilience into Real Estate Jill Ziegler, LEED AP BD+C Forest City Realty Trust May 17, 2018 METRO 417 | Los Angeles, CA @ForestCityREIT
  124. 124. 124 • About Forest City • Resilience – Enterprise Risk Management • Resilience – New Development Case Study Agenda NY BY GEHRY | NYC
  125. 125. About Forest City INVESTOR PRESENTATION | 125 THE NEW YORK TIMES BUILDING | NYC THE NEW YORK TIMES BUILDING | NYC VISION Our vision is to be the creative leader in realizing the power of place. MISSION We create sustainable value by envisioning, owning, and operating places where people, businesses, and communities thrive.
  126. 126. Portfolio Composition Office 30 properties | 80 mil sf • 17 traditional office • 13 life sciences Residential 72 properties | 24,393 units Development $191 million under construction YARDS PARK | Washington, DC
  127. 127. Environmental, Social, Governance (ESG) Performance | 127 Green Star 3rd consecutive year 89th percentile overall ESG performance on Sustainalytics MSCI “A”rating for ESG committed to reduce GHG emissions 27.5% by 2025 $2.4 million reduction in utility spend in 2017 100% new development pipeline targeting LEED certification 2017 Equileap Gender Equality Global Report and Ranking only U.S. REIT to receive recognition 2020 Women on Boards Winning ‘W’ Company 2017 25% of Directors are women 83% independence among Board of Directors Board tenure reduced to an average of 3.6 years Board oversight of ESG Enterprise risk management process expanded to account for environmental & social risks Forest City develops and manages thriving places that address both the environmental and social needs of our core markets. Awards & Recognition Environment Social Governance
  128. 128. ARRIS | THE YARDS – WASHINGTON, D.C. Resilience: Enterprise Risk Management (ERM)
  129. 129. 129 Enterprise Risk Management: Process • Standardized approach to identify, describe, and prioritize enterprise risks across eight different risk areas covering operational, market, strategic, reputational, and compliance risks –Resilience is one of the eight • Eight risk areas are comprised of 25 more specific risk categories, including ESG topics, such as: –Diversity & inclusion of thought –Geographic concentration of assets and associated climate change risks
  130. 130. Resilience Case Study: Pier 70
  131. 131. San Francisco, CA – A former shipyard on San Francisco's eastern waterfront. The Forest City master development area of 28 acres is a mixed-use project. At full build-out (3.2 million sf): Apartments: 1,000 – 2,000 units Office: 900,000 – 1.75 million sf Retail: 360,000 sf Waterfront parks: 7 acres Resilience Case Study: Pier 70
  132. 132. 132 Resilience Case Study: Pier 70 • Sustainability Plan aligned with EcoDistricts Protocol • Guiding Principles: 1. Equity 2. Climate protection 3. Resilience • Six priority areas: 1. Livability 2. Prosperity 3. Health + Wellness 4. Mobility + Connectivity 5. Ecosystem Stewardship 6. Climate Protection + Resource Efficiency
  133. 133. 133 Resilience Case Study: Pier 70 LIVABILITY: Create an inclusive and vibrant community FOCUS AREA 2.1: Engagement OBJECTIVES TARGETS STRATEGIES BENEFITS Facilitate early and meaningful engagement that is inclusive and representative of local residents Build capacity, ownership and leadership to enable implementation of shared goals At least 120 pre- development community outreach meetings and events At least 10,000 square feet of indoor civic space Engage citizens and relevant stakeholders to shape development Provide indoor civic space Project better serves the needs of local stakeholders Increases social cohesion
  134. 134. 134 Resilience Case Study: Pier 70 LIVABILITY: Create an inclusive and vibrant community FOCUS AREA 2.2: Housing OBJECTIVES TARGETS STRATEGIES BENEFITS Create accessible, affordable, and adaptable housing for people of all abilities, incomes, and ages Ensure that housing is equitable in terms of quality of materials and overall green building practices At least 1,000 new housing units 30% affordable housing at the 28-acre site 50% or more units as rental at the 28-acre site 100% of housing meets San Francisco green building standards Design and develop a mix of housing types Design and develop all housing units to the same San Francisco green building standards A more diverse community increases resilience to social and economic changes
  135. 135. 135 Resilience Case Study: Pier 70 PROSPERITY: Support economic opportunities that build prosperity and accelerate innovation FOCUS AREA 3.1: Employment OBJECTIVES TARGETS STRATEGIES BENEFITS Generate diverse employment opportunities Ensure that economic development investments provide direct benefits for San Francisco residents and workers through job creation and workforce development At least 1,000,000 square feet of commercial-office and at least 200,000 square feet of retail, arts, and light industrial space at full build-out Up to 10,000 permanent jobs Up to 11,000 construction jobs At least 30% local workforce for construction jobs At least 10% of contract values awarded to Local Business Enterprises Provide a variety of commercial spaces to generate diverse employment opportunities Provide market spaces for local vendors Hire locally Connect new Pier 70 residents and existing residents in surrounding neighborhoods to on-site job opportunities Explore connecting commercial tenants to local job training programs A more diverse community increases resilience to social and economic changes Increases local spending and tax base
  136. 136. 136 Resilience Case Study: Pier 70 CLIMATE PROTECTION+RESOURCE EFFICIENCY: Work towards net positive energy, water & waste FOCUS AREA 7.3: Climate Resilience OBJECTIVES TARGETS STRATEGIES BENEFITS Design the site to be resilient to a changing climate, including higher temperatures and sea level rise At least 12% reduction in hardscape surfaces from current condition All of the Project is functional even by 2100 projected sea level rise + coastal storm Mitigate the urban heat island effect by incorporating green and cool roofs, light colored pavements, and urban greening Manage sea level rise risks by elevating buildings and the Bay Trail Design the shoreline to accommodate sea level rise and storm events Increases safety and comfort of residents, workers, and visitors Improves access to the shoreline even as sea level rises Reduces risk of flood damage
  137. 137. 137
  138. 138. 138 Resilience Case Study: Pier 70 CLIMATE PROTECTION+RESOURCE EFFICIENCY: Work towards net positive energy, water & waste FOCUS AREA 7.4: Water efficiency OBJECTIVES TARGETS STRATEGIES BENEFITS Reduce potable water demand by reusing treated greywater and/or wastewater and through water efficient building design 40% less potable water consumed in fixtures and cooling systems compared to baseline standards 100% of non-potable demands met through alternative water resources, consistent with local health code Use water efficient fixtures and appliances Prioritize native and drought-resistant plants Install on-site alternative water treatment and reuse system Explore strategies to maximize collection and reuse of rainwater Increases the project’s resilience to drought Reduces impact on aging water infrastructure Creates/enhances habitat with native species Lower water bills
  139. 139. Thank You Jill Ziegler, LEED AP BD+C Forest City Realty Trust www.forestcity.net @ForestCityREIT
  140. 140. S E S S I O N 3 Case studies showcasing resilience leader ship M o d e r a t o r : D a n W i n t e r s H e a d o f A m e r i c a s G R E S B B e n M y e r s D i r e c t o r o f S u s t a i n a b i l i t y B o s t o n P r o p e r t i e s A n n K o s m a l S t r a t e g i c R i s k M a n a g e m e n t & R e s i l i e n c e O f f i c e o f F e d e r a l H i g h - P e r f o r m a n c e B u i l d i n g s , U . S . G e n e r a l S e r v i c e s A d m i n i s t r a t i o n L a u r a C r a f t H e a d o f G l o b a l S u s t a i n a b i l i t y H e i t m a n G r e g S i m m o n s M a n a g i n g D i r e c t o r , E n t e r p r i s e C l i e n t S o l u t i o n s S i e m e n s B u i l d i n g T e c h n o l o g i e s J i l l Z i e g l e r D i r e c t o r o f S u s t a i n a b i l i t y a n d C o r p o r a t e R e s p o n s i b i l i t y F o r e s t C i t y R e a l t y T r u s t
  141. 141. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  142. 142. S E S S I O N 4 Tech and tools for resilience M o d e r a t o r : C h r i s P y k e R e s e a r c h O f f i c e r U . S . G r e e n B u i l d i n g C o u n c i l E l e n a A l s c h u l e r D i r e c t o r R e a l E s t a t e S t r a t e g y , V i e w I n c . B r i a n A s p a r r o C h i e f C o m m e r c i a l O f f i c e r E n e r N O C J a m i e S t a t t e r P E E R U S G B C H e a t h e r J o y R o s e n b e r g F o u n d e r B u i l d i n g R e s i l i e n c e N e t w o r k M a t t E l l i s C E O M e a s u r a b l
  143. 143. glass sold 4M+ SQFT 95% Overall occupant delight View Dynamic Glass in 25 million square feet of building space Headquarters | R&D Milpitas, California Manufacturing Olive Branch, Mississippi • Founded 2007 • Product Launched 2012 • Employees 700+ • Funding $700M+ • Patents 600+ 200+ more in progress 400+ projects installed Select Investors
  144. 144. View Dynamic Glass saves ~10% of energy use compared to Low E 144 8% 14% 12% 8% 8% 0 2000 4000 6000 8000 10000 12000 14000 16000 Atlanta Miami Phoenix New York San Francisco kWh Low E View View Dynamic Glass also enables up to 24% HVAC downsizing *Assumed Low E with SHGC =0.38 and Tvis = 0.7 (PPG Solarban 60)
  145. 145. Two 250,000 SF buildings with 90,000 SF glass Keep the building comfortable using power equivalent to 45 lightbulbs View Dynamic Glass uses less than 0.001% of total building energy
  146. 146. Physical Security
  147. 147. Higher productivity 2% Reduced eyestrain 63% Fewer Headaches Less drowsiness 56% Less drowsiness Research conducted by Professor Alan Hedge of Cornell University; scientific study of 313 people from seven different locations in North America, who worked in offices with traditional windows or offices with self-tinting “smart” windows from View Dynamic Glass. 51% 56% Human health & wellbeing is a core aspect of resiliency. Occupants in buildings with View have:
  148. 148. Case Study in Resilience: A First-of-its-Kind Microgrid in New York City 5/17/2018 1
  149. 149. 30/05/2018 2 The Enel Group Worldwide Overview § Second largest global utility by revenue § More than 50 years of experience § No. 20 on Fortune’s ‘Change the World List’ § CEO Francesco Starace appointed to Board of Directors of United Nations Global Compact World Class Resources § More than 63,000 employees operating in 31 countries § Net installed capacity of more than 82 GW in electricity and gas § Global leadership in renewables with 36 GW in consolidated capacity
  150. 150. The Enel X Vision Enel’s 2017 acquisitions form the basis of Enel X § Innovative energy storage and microgrid projects § Optimization of Distributed Energy Resources § Worldwide leader in demand response § Strategic commercial & industrial energy management provider § Market-leading smart EV charging hardware § Optimization of EV charging for load balancing and sustainability
  151. 151. Project details § 625-unit residential complex located in Brooklyn, NY § New York City’s first-ever solar+storage microgrid in an affordable housing development § First lithium-ion battery system approved for use in a multi-family building in New York City § BQDM requirements mandate that the site can self-consume all power it creates, without exporting to the grid 30/05/2018 Presentation footer 10PT. Please add the relevant country to the footer. 4 Overview of the property Marcus Garvey Village Microgrid Project
  152. 152. Microgrid combines: § 400 kW solar PV § 400 kW fuel cell § 300 kW/1,200 KWh energy storage Deployment needs: § Self-sufficient power supply during outages § Con Ed’s BQDM program § NYISO demand response 30/05/2018 Presentation footer 10PT. Please add the relevant country to the footer. 5 Automated deployment of DERs for maximum resilience and economic value Marcus Garvey Village Microgrid Project
  153. 153. 30/05/2018 Presentation footer 10PT. Please add the relevant country to the footer. 6 How we progressed from concept to value Project Lifecycle Planning & Permitting Financing & Installation Deployment & Optimization Analysis & Expansion
  154. 154. Four Key Aspects of a Microgid Site-level Resilience Local Grid Reliability Sustainability Goals Return on Investment Self-sufficient power supply in the event of grid outages Participation in grid-level stability programs Reduce reliance on fossil fuels for resilience Maximize cost reduction, incentive payments 30/05/2018 Presentation footer 10PT. Please add the relevant country to the footer. 7 Seamlessly deploying microgrid assets to capture multiple value streams “This installation is an important part of a portfolio-wide effort to use renewable energy to enhance property sustainability and residents’ quality of life in line with our double bottom line approach to development.” —Josh Weisstuch, Project Manager at L+M Development Partners
  155. 155. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  156. 156. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  157. 157. Building Resilience Network Heather Joy Rosenberg
  158. 158. Building Resilience Process
  159. 159. Fundamentals of Building Resilience • Leadership Training
  160. 160. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  161. 161. Resilience Relies on ESG Data. Technology improves ESG transparency and accuracy. Here’s how.
  162. 162. #1 Sustainability Software More than 27,000 properties representing in excess of 5.3 billion square feet across 70 countries use Measurabl — more than any other software of its kind. 27Kproperties 5.3Bsquare feet 70countries $1.2T AUM
  163. 163. Resilience. On-Demand. Just like your building operations, resilience must be measured to be managed. Tracking actual asset-level performance is the key. 3 ESG data your organization needs. Build portfolio-wide resilience by understanding its strengths and weaknesses. Capital markets will reward or punish you otherwise. Establish Objectives Why does your organization care about resilience? Understand the motives and goals before you act. Monitor Performance Create a baseline of current operations to better understand where you need to improve. Implement & Improve Pilot new initiatives, iterate, then scale to continually advance your portfolio’s resilience.
  164. 164. Data. Mastered. Collect all data related to portfolio operations, then identify areas to make your portfolio more resilient. 4 Take charge of your portfolio data. Capture energy, water, and waste utility data down to the meter-level, quality assure it using data science, then push it to external benchmarking organizations for a complete data chain of custody. Collect Data Utility data, certifications, projects, financial performance… A wide variety of ESG data is needed to best quantify resilience. Integrate Widely Spend less time collecting data and more time improving. Choose software that integrates with other data providers. Analyze Continuously Slice and dice your portfolio down to the meter, then utilize your analyses to make measurable improvements.
  165. 165. Investment. Grade. Control your entire ESG data chain of custody for auditable, investment grade reporting and a competitive edge. 5 Quality and credibility your investors trust. From “meter to market” - Investment Grade data is the next level increasingly expected by capital markets. Credible Reporting Garbage in, garbage out. Peer relative performance is meaningless if investors don’t trust the reported data. Totally Transparent Provide data at the asset level backed up by individual meter readings and other documentation. Capital Markets Accepted Secure preferred cost of capital and premium underwriting and diligence results using Investment Grade ESG data.
  166. 166. Matt Ellis CEO & Founder matt@measurabl.com
  167. 167. S E S S I O N 4 Tech and tools for resilience M o d e r a t o r : C h r i s P y k e R e s e a r c h O f f i c e r U . S . G r e e n B u i l d i n g C o u n c i l E l e n a A l s c h u l e r D i r e c t o r R e a l E s t a t e S t r a t e g y , V i e w I n c . B r i a n A s p a r r o C h i e f C o m m e r c i a l O f f i c e r E n e r N O C J a m i e S t a t t e r P E E R U S G B C H e a t h e r J o y R o s e n b e r g F o u n d e r B u i l d i n g R e s i l i e n c e N e t w o r k M a t t E l l i s C E O M e a s u r a b l
  168. 168. SUSTAINABLE REAL ASSETS CONFERENCES 2018 RESILIENCE
  169. 169. P A R T N E R S E V E N T P A R T N E R S : G L O B A L M E D I A P A R T N E R S : S P O N S O R S : H O S T :

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