West Coast-based landlord and property development REIT Kilroy Realty Corporation (KRC) announced today that it has achieved carbon neutral operations, addressing all Scope 1 and 2 greenhouse gas (GHG) emissions from the company’s buildings at the end of 2020.
According to the company, KRC was the first North American REIT to set a commitment to be carbon neutral from operations, originally establishing the goal in 2018.
John Kilroy, Chairman and CEO of KRC, said:
“In 2018, I committed our company to reach carbon neutral operations by the end of 2020, and we have kept that promise. This achievement demonstrates that real estate companies can and should thrive while being excellent stewards of the environment.”
KRC outlined several of the steps that it took in reaching its new milestone, including pursuing initiatives in energy efficiency, setting up on-site renewables and setting up agreements to source energy from offsite renewables, including a large solar array currently under development. In addition, the offsite solar project purchases renewable energy certificated (RECs) on KRC’s behalf that allow the company to convert to 100% renewable electricity across all properties, and KRC offsets the remainder of emissions using verified emission reduction credits.
The company stated that it is now focusing on reducing its Scope 3 emissions through strategic management of the carbon emissions associated with its construction materials as well as emissions associated with tenant energy use.
Rob Paratte, KRC’s EVP and Head of Business Development and Leasing, said:
“Our tenants truly value our efforts and commitment to sustainability. This is a win not only for the environment but for the reputation of our portfolio in the real estate community.”