Strides in Sustainability
FSP has a core belief that the sustainability of our real estate portfolio is a critical component of our overall business strategy. The reduction of our environmental footprint, especially through decreases in energy and water usage, remains a primary focus. The Company recognizes that our asset class, commercial office properties, has a significant impact on the environment. The reduction of that impact through sustainability efforts allows us to have a positive environmental influence, while also increasing tenant satisfaction levels and reducing operating costs.
In the past year, FSP was awarded the 2015 Green Star designation by the Global Real Estate Sustainability Benchmark (GRESB®). GRESB is an international organization which assesses the sustainability performance of commercial real estate portfolios around the globe. GRESB utilizes a quadrant model to visualize score results and FSP’s score earned the Company a position in the highest quadrant. As part of the Company’s participation in the GRESB benchmark survey, FSP was evaluated regarding its efforts in areas such as management and policy, monitoring and environmental management system, performance indicators, and building verification and benchmarking.
FSP continues to enhance the energy efficiency of our portfolio of properties. Key aspects of our energy management process include the active monitoring of near real-time energy data, specialized energy software alerts, and regular team energy performance review calls. Our properties also participate in utility demand response programs where available, which provide regular payments in exchange for enacting an emergency energy curtailment plan in the event of a
FSP utilizes the EPA’s ENERGY STAR® program to track our progress in energy efficiency. As of year-end 2015, over 65% of our square footage, either owned or asset-managed by FSP, had earned the ENERGY STAR label, denoting that their energy performance is among the top 25% of similar properties.
In addition to GRESB and ENERGY STAR, a supplementary third-party verified tool that FSP employs to measure and track our overall sustainability efforts is the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED®) rating system. Approximately half of the square footage either owned or asset-managed by FSP has been awarded LEED certification under one of the various LEED rating systems, recognizing these buildings’ environmental performance in areas such as energy, water and waste management and indoor environmental quality.
FSP is committed to the ongoing enhancement of our portfolio of buildings and operations in a manner that is sensitive to our tenants and investors, as well as the environment. The achievement of the GRESB 2015 Green Star and the significant percentage of FSP properties which have an ENERGY STAR label or a LEED certification, are examples of the results of these efforts. In the coming year, FSP will remain focused on striving to find innovative means to attain our environmental and financial goals.