CivicAction’s Race to Reduce wins Green Real Estate Excellence award
NAIOP prize caps week of milestones and recognition
April 10, 2014, Toronto – CivicAction’s trail-blazing Race to Reduce garnered industry acclaim last night, capturing Green Award of the Year at the NAIOP Greater Toronto chapter’s Real Estate Excellence awards.
The award recognizes excellence, innovation, and achievement in the area of sustainable real estate initiatives, and the Race to Reduce smart energy office challenge delivers on that in spades.
As the second largest regional energy challenge in the world, the Race to Reduce has already made a remarkable impact on the environmental performance of the Greater Toronto and Hamilton Area’s (GTHA) commercial office sector:
- 600 landlords and tenants in 176 office buildings across the GTHA are participating in the program to reduce energy use, representing 67.8 million square feet or 32 per cent of the GTHA’s office stock
- In just two short years Race participants have collectively reduced their energy use by 9 per cent – one point away from their four-year collective reduction target
- This equates to savings of over 139 million ekWh or a reduction of 17,000 metric tons of GHG emissions, and over $10 million annually and almost $11 million in perpetuity.
Launched in May 2011, the Race aims to reduce office buildings’ carbon emissions through lower energy use. Research for the Living City Report Card found that the office sector is one of the largest contributors of carbon emissions in the Toronto region at close to 20%, consuming 37% of electricity and 17% of natural gas.
Says Sevaun Palvetzian, CEO of CivicAction, “The Race to Reduce is transforming the way landlords and tenants collaborate on their buildings’ environmental performance, and it’s great to see the broader real estate community recognize the new ground we’re breaking.”
“The award caps a big week for the Race”, says Brad Henderson, Senior Managing Regional Director of CBRE Ltd. and one of the Co-chairs of the Race’s Leadership Council, “coming on the heels of a full-page national newspaper story and the release of the Race’s inaugural report, entitled Remarkable Alliances: Changing the energy conversation with Canada’s office sector. The report captures great insights from the Race’s early years that can be used by other cities and sectors who are looking to replicate our friendly competition model in their own communities.” Henderson added.
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About CivicAction’s Race to Reduce
Launched in May 2011, CivicAction’s Race to Reduce challenges commercial office building landlords and tenants to publicly commit to work together to reduce energy use in their respective buildings, whileaiming for a meaningful collective energy reduction target of at least 10 per cent over four years (2011 – 2014).
About the report
For a copy of the full report, visit: http://racetoreduce.ca/wp-content/uploads/2014/02/RacetoReduce-web-version.pdf. The report details insights gathered between 2009 to 2012, and includes 2011 and 2012 Race to Reduce program results and award winners.
For the past 10 years, CivicAction has brought together senior executives and rising leaders from all sectors to tackle some of our region’s toughest social, economic and environmental challenges. CivicAction sets a non-partisan agenda, builds strategic partnerships with organizations, and launches campaigns, programs and organizations that transform our region. For more information, visit: www.ca.cmohr.ca, or follow us on Twitter @CivicActionGTA.
For more information or to schedule an interview, please contact:
416-309-4480 x 507