GWL Realty Advisors Commits to Achieving Net-zero Greenhouse Gas Emissions by 2050
January 17, 2022
GWL Realty Advisors, Inc. (‘GWLRA’) recognizes the urgent need for collective action to tackle the global climate crisis. We are making a commitment to do our part to help build a carbon neutral economy by moving towards to net-zero greenhouse gas (GHG) emissions by 2050. As part of this commitment, we will:
Engage with our owner-clients to target net-zero GHG emissions by 2050
Set interim targets that are aligned with a science-based approach
Share relevant elements of our net-zero action plan and provide regular updates to stakeholders on climate risks and opportunities
We are also pleased to support our parent company, Great-West Lifeco, in its target to achieve net-zero GHG emissions by 2050, for its general account investments, and net-zero (well before 2050) for its operational GHG emissions (see release).
GWLRA has built a solid foundation in climate risk management, through responsible investing and the assessment of physical risks and resilience throughout our portfolio. We have also demonstrated our resolve to mitigate the impacts of climate change, having reduced the absolute GHG emissions of our managed portfolio (where we have substantial operational and financial control) by 28% from 2013-2020.
“Making a commitment is only the beginning of the journey. Advancing towards net-zero GHG emissions will require enhancing cross-functional effort across our business units, confronting the challenges ahead, and exploring new opportunities. We don’t have all the answers yet, but we are confident in our approach and abilities, and we’re eager to get started,” said Ralf Dost, President.
GWLRA recognizes the critical role asset managers play in the decarbonization of the global economy. Investors are increasingly interested in the GHG emissions of their assets, companies’ net-zero ambitions, and better approaches to managing climate-related transition risks.
“We’re excited to work with our clients to establish decarbonization goals that align with their business objectives, help manage risks, and capitalize on opportunities arising from the transition to a low-carbon economy,” said Steve Marino, EVP, Portfolio Management.
Our focus moving forward will be the development of a strategic net-zero carbon roadmap to 2050 to reduce our emissions in line with what climate science deems necessary to meet the goals of the Paris Agreement. We look forward to sharing more information on our plans and key milestones in 2022, as we embark on our net-zero journey.
GWL Realty Advisors
GWL Realty Advisors Inc. is a leading North American real estate investment advisor providing comprehensive asset management, property management, development and specialized real estate advisory services to pension funds and institutional clients. GWL Realty Advisors Inc. manages a diverse portfolio of office, industrial, retail and multi-residential assets as well as an active pipeline of new development projects.