- Along with the 2035 commitment, Dream and the Canada Infrastructure Bank have announced a $136.6 million investment commitment from the CIB for deep building retrofits in Ontario and Saskatchewan.
The Dream group of companies (“Dream”), comprised of DREAM UNLIMITED CORP. (TSX: DRM) (“Dream Unlimited”), DREAM IMPACT TRUST (TSX: MPCT.UN) (“Dream Impact”), DREAM OFFICE REIT (TSX: D.UN) (“Dream Office”), and DREAM INDUSTRIAL REIT (TSX:DIR.UN) (“Dream Industrial”), has set
With a portfolio worth more than $13 billion, the announcement represents one of the industry’s most ambitious goals, aiming to achieve net-zero emissions 15 years ahead of the Paris Agreement.
“We believe that real estate can be developed or managed to have a positive impact on our communities and make them more equitable.”
Real estate accounts for roughly 40% of global greenhouse gas emissions.
That is the impetus for today’s announcement we believe we can halt the growth of carbon emissions from our properties and dramatically reduce our emissions,” said Michael Cooper, Chief Responsible Officer for Dream Unlimited.
“It has never been more significant to act quickly.” We can challenge the historical status quo or transform our business to meaningfully address these complex issues or pave the way for a resilient future.”
Dream’s global portfolio spans multiple regions in Canada, the United States, and Europe and includes many building types and communities, from large-scale master-planned communities to boutique heritage buildings. Dream’s progress toward its commitment will be measured and reported annually as part of its rigorous IMS.
To support this pledge, Dream Unlimited, on behalf of the Dream Group of Companies, has joined the Net Zero Asset Managers initiative, representing asset managers worldwide who have committed to net-zero targets by 2050 or sooner. The dream is one of the first Canadian companies to join the industry, which has 220 signatories and US$57.4 trillion in AUM.
Dream Unlimited, Dream Impact, and Dream Office have committed to net zero scopes 1 and 2 or select scope 3 GHG emissions (operational or development) by 2035 as part of the net-zero by 2035 commitment, while Dream Industrial has committed to net zero scope 1 and 2 GHG emissions (operational also development) by 2035 and net zero select scope 3 GHG emissions (operational and development) by 2050.