Franklin Street Properties Corp. 2014 Annual Report
Pathway To Value Through Sustainability
During 2014, FSP continued to place a high priority on sustainability initiatives to support our objectives of reducing our environmental footprint and maximizing investor returns. Central to these efforts is the ongoing measurement, benchmarking and analysis of the energy, water and waste consumption of our buildings as well as the continuing review and refinement of FSP’s environmental goals, policies, and procedures.
In the past year, FSP participated for the first time in the Global Real Estate Sustainability Benchmark (GRESB) survey. This benchmark assesses the sustainability of real estate portfolios around the world, taking into account data-driven performance indicators as well as broader environmental, social and governance issues. FSP is pleased to participate with a global group of sustainability-focused peers and is actively utilizing the survey insights to further enhance our environmental programs.
Energy efficiency continues to be an area of focus for FSP, with our properties being active participants in the EPA’s ENERGY STAR program. As of year-end 2014, approximately 60% of our square footage, either directly owned or asset-managed by FSP, had earned the ENERGY STAR label, denoting that its energy performance is among the top 25% of similar properties. FSP earned special recognition from the EPA in 2014 as a premier member of Certification Nation, further demonstrating FSP’s commitment to the ENERGY STAR program.
During the year, FSP expanded and added to our energy efficiency programs. Successful programs, such as the active third-party monitoring of near real-time energy data, have been expanded. FSP also continued our participation in local demand response programs, whereby participating properties implemented short-term energy reduction measures during grid emergencies, helping the environment and also earning regular quarterly payments. Additionally, FSP began to test the effectiveness of a peak demand predictive tool, which aims to provide insight into the demand charges on our utility bills and to predict when new peak demand charges may be established. FSP proactively investigates new energy efficiency tools as they come to the market to determine their usefulness in minimizing our consumption and costs.
An additional tool that FSP uses to measure and track our overall sustainability efforts is the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED®) rating system. Approximately half of the square footage either directly owned or asset-managed by FSP has been awarded LEED certification under one of the various LEED rating systems, recognizing these buildings’ environmental performance in areas such as energy, water and waste management and indoor environmental quality. Furthermore, FSP properties are among the first to utilize the new LEED Dynamic Plaque™ for LEED recertifications, with the aim of regular building benchmarking information and enhanced occupant sustainability engagement.
FSP believes that our ongoing progress in the area of sustainability creates a healthier environment for our tenants and our properties’ communities. Simultaneously, through lower operating costs and increased property desirability, FSP is also enhancing investor return.