LOS ANGELES, May 6, 2022 /PRNewswire/ — CommonWealth Partners (CWP), a leading national commercial real estate developer, investor and operator, has received the 2022 ENERGY STAR® Partner of the Year Award from the U.S. Environmental Protection Agency and the U.S. Department of Energy. This marks the fifth year in a row the firm has received this recognition, and the third consecutive year they received the Sustained Excellence designation, the highest honor bestowed by the ENERGY STAR program.
CWP is recognized for its long-term commitment to fighting climate change and protecting public health through energy efficiency. The Award distinguishes the nation’s leaders in driving value for the environment, the economy, and the American people.
"Industry-leading ESG practices are a cornerstone of our portfolio operations," said Brett Munger, CEO and Managing Partner of CommonWealth Partners. "These practices and principles not only help the environment, but also continue to keep our properties highly competitive with an increasingly ESG-focused tenant base and ensures we’re managing our investments with an eye to the future."
Since 2013, the CWP portfolio has reduced Energy Use Intensity by 34%. Looking to the future, CWP established new targets of reducing emissions by 50% from a 2013 baseline and has committed to a Net Zero Carbon goal by 2050. In addition, the CWP portfolio is 100% LEED Certified, with 65% of Properties earning LEED Platinum status and 35% earning LEED Gold status.
"The work we do to reduce our carbon footprint and promote wellness in our properties is a direct result of our dedication to providing what our customers – our tenants — want and deserve," said Travis Addison, a principal at CWP who directs the firm’s sustainability efforts. "It is our mission to create and maintain environments that are safe, healthy and efficient while securing the financial health of our investors and tenants. Our most valued assets are not the structures we own and operate, but the occupants and partners who rely on us to make sound and lasting decisions."
The ENERGY STAR® Sustained Excellence award is just one of many recent ESG awards earned by CommonWealth Partners. CWP was awarded First Place in the Global Real Estate Sustainability Benchmark (GRESB) in their U.S. Office Corporate High-Rise peer group in both 2021 and 2020, and also received their prestigious Office Overall Regional Sector Leader award and a 5 Star Rating.
The firm was also recognized in 2021 with a Gold Award from Green Lease Leaders, a national program honoring owners, tenants and partnering real estate practitioners from a variety of sectors that incorporate green leasing to drive high-performance and healthy buildings.
About CommonWealth Partners
CommonWealth Partners, LLC is a vertically integrated, privately owned real estate investment, development and management organization. They are headquartered in Los Angeles and New York with over $10 billion of assets located throughout the United States, including New York, Washington DC, Seattle, San Francisco, Silicon Valley, San Diego, Los Angeles, and Boston. They offer a wide array of services including investment and capital market transactions, portfolio management, asset management, property management, marketing, leasing, development, and reporting with a sharp focus on tenants and investors. Learn more about CommonWealth Partner’s sustainability program at https://www.commonwealth-partners.com/sustainability/highlights/
About ENERGY STAR
ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations—including more than 40 percent of the Fortune 500®—rely on their partnership with the U.S. Environmental Protection Agency (EPA) to deliver cost-saving energy efficiency solutions. Since 1992, ENERGY STAR and its partners helped American families and businesses avoid more than $450 billion in energy costs and achieve 4 billion metric tons of greenhouse gas reductions. More background information about ENERGY STAR can be found at: https://www.energystar.gov/about and https://www.energystar.gov/about/origins_mission/energy_star_numbers
SOURCE CommonWealth Partners