Crown Property Management turns sustainability plans into action

Preet Jassal completed her master’s degree in environment and sustainability, learning about the impact of industries and individuals on the environment – and, conversely, the role they can all play in improving the health of the planet. Now, as a sustainability specialist at Crown Property Management Inc., she’s using her expertise to educate her colleagues on how they can contribute to the company’s responsible investment mindset.

Toronto-based Crown, a vertically integrated commercial real estate investment firm, is active in every aspect of the real estate ownership and investment cycle, including acquisitions, leasing, construction and property management. The firm integrates plans to reduce greenhouse gas (GHG) emissions, energy, water use and the non-hazardous waste of the properties it owns and operates into each asset strategy.

As part of that effort, Jassal has been hosting lunch and learns and developing learning modules for each of the company’s business units. “People can get lost in the jargon,” says Jassal. “So, we’ve focused on the practical aspects relating to our business to ensure everyone considers their day-to-day activities through a sustainability lens. I’m hoping that these sessions help reinforce everyone’s awareness of their role in contributing to, not only to the environment, but also to the longer-term value and resilience of our properties.”

The company, and the real estate sector broadly, has a major role to play in reducing GHG emissions, says Anna Huang, vice president. The built environment accounts for approximately 40 per cent of global carbon emissions. Much of that comes from the energy needed to heat, cool and power buildings. In Toronto, that figure is even higher, at 56 per cent of the city’s total emissions.

As an integrated investment and property management company, Crown is well positioned to quickly take action, says Huang.

“We have spent time understanding our operational and property data and devising rational plans,” she says. “We’re truly bringing plans to action as we integrate energy, waste, water and GHG reduction strategies into our property investment cycles.”

Huang joined the firm two years ago. At the time, investors and businesses were placing a growing emphasis on decarbonization and sustainability, but lofty public statements often weren’t backed by concrete action. She says Crown managing partner Emily Hanna’s pragmatic, investment-driven approach to decarbonization resonated with her own investment background. The company’s efforts allow it not only to do good in the world but to attract institutional investors, quality tenants, and ultimately achieve higher returns for its investors, she says.

Crown has completed in-depth reviews of the energy, waste, water and GHG reduction potential across approximately 70 per cent of its 4.9 million-square-foot fund portfolio. It’s an “intensive and lengthy” process that involves working with external engineering consultants, Crown’s own operational team, and artificial intelligence platforms to develop decarbonization recommendations. These include implementing intelligent retrofits such as replacing natural gas boilers with air-source heat pumps, as well as operational changes like lowering heating set points during unoccupied hours.

The company also integrated emissions reduction and energy efficiency considerations into its acquisition underwriting process.

Huang says she’s excited about longer-term projects the company is evaluating, including exploring geothermal power and district energy systems for mixed-use complexes.

In addition to internal education, Jassal analyzes property data to assess the impact of energy efficiency efforts and communicates these insights to stakeholders. With this data- driven approach, she says, she and the property team can make informed recommendations that drive meaningful change.

“We’re connecting the dots between the light fixtures that were upgraded this month to our electricity bill decreasing,” she says. “We’re transparent about our initiatives and our hope is that everyone feels included and motivated to make a difference.”

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