BioMed Realty Unveils Its 2023 ESG Milestones

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by KnowESG
KnowESG_BioMed Realty Unveils Its 2023 ESG Milestones
Image courtesy of BioMed Realty

BioMed Realty, a prominent provider of real estate solutions for the life sciences and technology sectors, has shared the key highlights of its ongoing commitment to Environmental, Social, and Governance (ESG) accomplishments in 2023.

BioMed Realty forms a vital part of Blackstone's Core+ Life Sciences Real Estate strategy, which has proudly achieved a 5 Star Rating in the 2023 GRESB Real Estate Assessment. The GRESB Real Estate Assessment stands as the premier benchmark for evaluating ESG performance within the global real estate and infrastructure investment landscape.

In addition to securing a 5 Star Rating in the Standing Investments Benchmark, BioMed Realty's portfolio has also clinched the first rank in Technology/Science/Americas and a commendable 4 Star Rating in the Development Benchmark.

Tim Schoen, CEO of BioMed Realty, expressed, "The prestigious GRESB 5 Star Rating mirrors BioMed Realty's unwavering dedication to nurturing assets that cater to the present and future needs of our tenants and local communities. Investors and tenants are increasingly gravitating towards sustainable structures, and BioMed Realty's ESG initiatives will undoubtedly set our portfolio and our company apart. We are honoured to be recognised as ESG trailblazers in our industry."

BioMed Realty's noteworthy environmental achievements include:

  • A considerable increase in renewable electricity deployment across the company's operational portfolio, including the introduction of on-site solar power generation slated to provide renewable electricity for select assets in the Bay Area and San Diego markets, with commercial operation commencing in 2025.

  • Implementation of 175 energy-efficiency projects since 2016, such as the replacement of HVAC cooling systems and the installation of LED retrofits, collectively resulting in savings exceeding 38.7 million kWh of electricity.

  • A proactive approach to promoting health, wellness, and inclusivity throughout the project life cycle, with a focus on obtaining healthy building certifications. For instance, in April 2023, BioMed's South San Francisco Gateway's Forum achieved Fitwel 2 Star certification for its world-class conference centre.

  • Collaborative efforts with tenants to pursue sustainable development, including a partnership with Takeda Pharmaceuticals aimed at achieving Leadership in Energy and Environmental Design (LEED) Gold and WELL Gold certifications for the fully leased 585 Kendall asset in Cambridge, Massachusetts.

Other remarkable achievements:

  • As of June 30, 2023, 32% of BioMed Realty's 15.2 million square feet US operating portfolio holds LEED certification. Within the company's overall US operating portfolio and ongoing developments spanning 18.3 million square feet, 42% is expected to be LEED-certified.

  • Successful implementation of tenant satisfaction surveys across the company's operational assets, designed to enhance tenant engagement, elevate satisfaction levels, and integrate feedback into future operations.

  • The incorporation of ESG objectives and policies into new construction and development projects, encompassing the optimisation of electrification and the integration of net-zero design strategies.

BioMed Realty's ESG principles also extend to its commitment to research institutions, charities, and non-profit organisations in the communities it operates within. Some of the notable partnerships include:

  • Fostering healthcare innovation and groundbreaking research by providing support and leadership to institutions like the Salk Institute for Biological Studies in San Diego and the University of Colorado Boulder's BioFrontiers Institute.

  • Extensive support for over 65 hunger-relief organisations spanning 22 regions in the United States through a partnership with CoreGiving, a prominent non-profit organisation dedicated to combatting child hunger.

  • Bolstering workforce readiness in the biotechnology sector through support for the Gloucester Marine Genomics Institute in Massachusetts.

This highlights BioMed Realty's unwavering dedication to making a meaningful impact on both the ESG landscape and the communities it serves.

For more company-related news

To view and compare company ESG Ratings and Sustainability Reports, visit our Company ESG Profiles page.

Source: BioMed Realty

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