Tishman Speyer Commits to Net Zero Carbon Emissions by 2050

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Sep 13, 2021, 08:30 ET

NEW YORK, Sept. 13, 2021 /PRNewswire/ -- Tishman Speyer, a leading real estate developer, owner, operator and investor, today announced its commitment to achieve operational net zero carbon emissions by 2050 or sooner across its entire global portfolio, which currently encompasses 87 million square feet in 140 properties across North America, Asia, Europe and South America. In addition to eliminating carbon emissions throughout its existing portfolio, Tishman Speyer will ensure that all potential future acquisitions will have clear pathways to net zero.

Tishman Speyer's net zero pledge is consistent with its commitment to the United Nation's Principles for Responsible Investment (UN PRI), which is dedicated to cultivating an economically efficient, sustainable global financial system that rewards long-term, responsible investment, as well as supporting the environment and society as a whole.

"We are dedicated to the health and well-being of our customers and neighborhoods," said Jonathan Flaherty, Global Head of Sustainability and Building Technology Innovation at Tishman Speyer. "We design, construct and operate our properties with this is mind. Our commitments to be net zero by 2050 and to the PRI will ensure that as we are enhancing our physical environments, we are also minimizing our environmental impact. We all bear responsibility for this planet."

Tishman Speyer has long been a leader in the use of innovative energy management technology. Seventy-three percent of its current global portfolio is sustainably certified by internationally-recognized accrediting programs, including LEED, BREEAM and DGNB. In addition, 100 percent of its U.S. portfolio is benchmarked by EnergyStar, which has recognized Tishman Speyer as an EnergyStar Partner of the Year for seven consecutive years. Tishman Speyer has also set a minimum global standard that all of its new construction projects be built to a LEED Silver standard with an ultimate target of LEED Gold or higher.

One recent example of Tishman Speyer's pioneering approach to sustainability projects is the retrofit of the central plant at its headquarters in Rockefeller Center. By installing 102 new ice storage tanks, Tishman Speyer was able to create operational flexibility, maximize energy efficiency and achieve a 70% reduction in on-peak electrical demand and carbon emissions throughout Rockefeller Center.

About Tishman Speyer
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 28 key markets across the United States, Europe, Asia and Latin America. We develop, build and manage premier office, residential and retail spaces for industry-leading tenants, as well as state-of-the-art life science centers through our Breakthrough Properties venture. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers' evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO., and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 453 properties, totaling 210 million square feet, with a combined value of approximately $113 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.