To download the complete 2016 Sustainability Report, please click here.

A Letter from Owen Thomas, CEO

Sustainability considerations have become increasingly important to our customers, shareholders, employees and communities we serve. As one of the largest owners and developers of office properties in the United States, we have become a global industry leader by integrating sustainable decision making that promotes our growth in a responsible manner across our five regions.

In 2016 we executed our sustainability strategy by implementing policies, programs and projects that advanced our commitment to sustainable development and operations. Through our efforts, we demonstrated that developing and operating commercial real estate can be conducted with a conscious regard for the environment and our communities while mutually benefiting our tenants and shareholders. 

 

During 2016: 

  • We reduced like-for-like energy and water use 6.9% and 4.0% respectively, saving approximately $10.7 million in annual recurring operating costs;
  • We exceeded our 2020 targets for reducing our energy and water use intensity and greenhouse gas emissions intensity, reducing our energy use intensity 19.8%, water use intensity 21.8% and greenhouse gas emissions intensity 31.5% below a 2008 base year; 
  • For the fifth straight year, we ranked in the top quadrant of the Global Real Estate Sustainability Benchmark (GRESB) assessment, earning our fifth “Green Star” recognition and the highest GRESB 5-star Rating;
  • We placed 36th out of 733 companies — among the top 5% of worldwide participants in the 2016 GRESB assessment and second among U.S. office companies;
  • We certified and re-certified 3.3 million square feet under the U.S. Green Building Council’s (USGBC) Leadership in Energy and Environmental Design (LEED) certification program, growing our green building portfolio to 17.1 million square feet; and
  • We maintained our ongoing commitment to volunteerism and philanthropy by donating over 4,000 service hours to more than 700 community events and charitable activities.

We are proud of our sustainability efforts to date and will continue to implement impactful policies and initiatives that improve our performance outcomes, protect asset value and cultivate long-term profitability for the company.

 

 

Corporate Overview

Boston Properties, Inc. (“Boston Properties,” “BXP” or the “Company”) is one of the largest public REITs in the United States with a significant presence in five markets: Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company was founded in 1970 by Mortimer B. Zuckerman and Edward H. Linde and became a public company in June 1997. BXP is a fully integrated real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 47.7 million square feet and consisting of 164 office properties (including six properties under construction/redevelopment), five retail properties, four residential properties (including two properties under construction) and one hotel. BXP is well-known for its in-house building management expertise and responsiveness to tenants’ needs.

The Company holds a superior track record in developing premium Central Business District (CBD) office buildings, successful mixed-use complexes, suburban office centers and build-to-suit projects for the U.S. government and a diverse array of creditworthy tenants. Key assets include the GM Building in New York, Prudential Center and 200 Clarendon Street in Boston, Kendall Center in Cambridge, 2200 Pennsylvania Avenue in Washington, DC, Reston Town Center in Northern Virginia, Embarcadero Center and Salesforce Tower in San Francisco and Colorado Center in Santa Monica.

The Company is listed on the New York Stock Exchange under the symbol “BXP.” Boston Properties reported total revenue for the twelve month period ending December 31, 2016 of $2.6 billion and net income attributable to BXP common shareholders of $502.3 million. Boston Properties’ consolidated market capitalization was $31.6 billion, including $21.8 billion in equity value and $9.8 billion of consolidated debt. Additional financial information can be found in the Company’s most recent 10-K filing.

Leadership and Oversight

BXP is managed under the direction of our Board of Directors, which is currently comprised of eleven highly accomplished men and women who are dedicated to serving the best interests of our stakeholders. The Board of Directors supports efforts to implement our sustainability strategy through our corporate sustainability program. Owen Thomas, our Chief Executive Officer, is the senior decision maker on issues related to sustainability. Additionally, the Company’s Chief Financial Officer and Sustainability Manager work together to oversee Boston Properties’ Sustainability Committee, which includes representatives from all of our regions and many departments. This Committee helps inform the direction of our sustainability program, which is formally reviewed annually with our Board of Directors. The Sustainability Committee has the following goals:

  • Identify and execute new strategies for promoting sustainability in new construction, existing buildings and corporate operations;
  • Enhance the Company’s processes for collecting sustainability performance information;
  • Promote communication across the Company and share “best practices;”
  • Assess the cost effectiveness of small and large scale projects and programs; and
  • Follow new regulatory requirements and cooperate with the regulators to make new requirements meaningful.

To support the achievement of these overarching goals, our Regional Managers and Regional Heads of Property Management are accountable in their annual quantifiable performance goals for the success of their efforts to measure and improve our efficiency as measured on this system. These goals are formulated starting with specific performance at the incremental building level and then consolidated to establish regional goals. Sustainability targets and objectives are also communicated to senior management periodically. With a wide range of department representatives in attendance, sustainability objectives are effectively communicated to the Board, senior management and throughout the Company.

Ethics and Integrity

For more than four decades, Boston Properties and its employees have maintained the highest standards of integrity and ethics. We take pride in our traditions of responsibility and accountability. We also believe that transparent disclosure of our corporate governance policies is fundamentally important to maintaining our well-established reputation and preserving the trust of our investors. We believe this sets a “tone at the top” for good governance and includes the appropriate checks and balances that a formalized system of governance should have. BXP has a strong commitment to minimizing our exposure to bribery, corruption and conflicts of interest. We have a set of strict rules and regulations, found in our Code of Business Conduct and Ethics, which is publicly available on the Company’s website.

Across the Company, every employee receives online training regarding their obligations under the Code every two years. Employees who deal specifically with the government receive in-person training regarding the requirements of the Code as it relates to the Federal Government every two years. Additionally, all employees must certify in writing at the time they are hired that they will abide by the Code, and each employee must provide a re-certification every time they are trained. The Company has established a Policy on Political Spending, publicly posted on our website, which requires the prior approval of our General Counsel in consultation with our Chief Executive Officer and President of any political contributions made by the Company. BXP requires employees to report any suspected violations of the Code using the EthicsPoint™ Reporting System. Through EthicsPoint, any employee is able to anonymously report any suspected or observed violations of the Code 24 hours per day, 365 days per year, either online or via telephone. In addition, BXP includes a provision highlighting the requirements of our Code in vendor contracts, including how to file a complaint on our hotline if they become aware of any inappropriate activity. We remain committed to adhering to these policies and principles and are confident that our employees will continue to conduct themselves in a manner consistent with these policies and ideals.

Strategy

As one of the largest owners and developers of office properties in the United States, Boston Properties actively works to promote our growth and operations in a sustainable and responsible manner across our five regions. Our sustainability strategy is broadly focused on the economic, social and environmental aspects of our activities, which include the design and construction of our new developments and the operation of our existing buildings.

BXP is a real estate company with a strategy of long-term ownership. By understanding the externalities of our business, we aim to protect asset value, reduce risk and advance initiatives that result in positive social and environmental outcomes. This report highlights the execution of our sustainability strategy and is organized into three themes: Environmental Impact, Health and Wellness and Community Involvement.

Through our efforts, we demonstrate that operating and developing commercial real estate can be conducted with a conscious regard for the environment and wider society while mutually benefiting our tenants, investors, employees and the communities we serve.

To download the complete 2016 Sustainability Report, please click here.

 

Reporting Methodology

The intent of this report is to present material information related to sustainability in a format that is understandable and accessible to our stakeholders. The report is focused on the performance of our occupied and actively managed office building portfolio in Boston, Los Angeles, New York, San Francisco and Washington, DC. Occupied office buildings are buildings with no more than 50% vacancy. Actively managed buildings are buildings where we have operational control of building system performance and investment decisions.

BXP’s 99 occupied and actively managed office buildings represent 85% of total portfolio gross square footage (SF). By concentrating on similarly situated buildings, we are able to meaningfully benchmark performance and measure the efficacy of our sustainability measures. Unless otherwise noted, data presented in this report relate to these types of office buildings. Over time we will continue to assess available data and determine when to expand this report to address other property types and information.

 

Stakeholder Engagement

We develop our understanding of the views and priorities of our stakeholders by engaging our supply chain, tenants, employees, communities and joint venture partners throughout the lifecycle of our activities. BXP management identifies and seeks to understand the groups and/or organizations that may affect and/or be affected by a decision, activity or outcome of a project. During stakeholder engagement processes, we work closely with our tenants, vendors and service providers to gather knowledge, plan and implement design solutions, technologies and programs that drive key performance indicator improvement. We regularly convene public forums during the development process to seek community input and apply green building standards to manage our supply chain. In our communities, we participate in Business Improvement Districts, EcoDistricts and other planning processes intended to advance sustainability at the neighborhood scale.

The operation of our properties is heavily dependent on the behavior of our tenants. Our goals cannot be achieved without effective engagement of our building occupants. We have integrated sustainability into property management practices, regional annual goals, lease documents, tenant improvement guidelines and our routine meetings with existing and prospective tenants. In addition to tenant meetings, we survey regularly to collect tenant satisfaction. We believe that by developing green buildings, we maximize the likelihood of sustainable performance, and that through effective stakeholder engagement we can align efforts and assure operational success.

The company continues to support the advancement of the industry on sustainability issues by sharing knowledge and learning from our peers. BXP actively participates in the following industry groups and organizations:

  • National Association of Real Estate Investment Trusts® (NAREIT®);
  • Real Estate Roundtable (RER) Sustainability Policy Advisory Committee (SPAC);
  • United States Green Building Council® (USGBC®);
  • Global Real Estate Sustainability Benchmark (GRESB®);
  • Building Owners and Managers Association (BOMA) International; and
  • Urban Land Institute (ULI).

 

Green Leasing

We strive to limit our energy and natural resource consumption through active management of our properties and leasing activity. In order to align our sustainability efforts with our tenants, our Master Lease form includes: cost recovery for capital expenditures made to reduce operating expenses, cost recovery for certifications (including LEED and ENERGY STAR), sub-metering of high intensity tenant equipment and required tenant energy disclosure (benchmarking). Our internal legal counsel and leasing team actively negotiate our leases with the intent of preserving green lease clauses without alterations or exceptions.

 

Materiality

Boston Properties has conducted a materiality assessment to identify the significant economic, social and environmental issues that impact our business and are important to our stakeholders. In defining material aspects, BXP has evaluated the main sustainability interests, topics and indicators raised by stakeholders. The results of the materiality assessment have been used to establish and confirm sustainability-related performance indicators for our organization, prioritize resources and to determine the contents of this report. This report prioritizes the following material aspects: economic performance, resource use, energy, greenhouse gas emissions, water, waste, customer satisfaction, public transportation, climate preparedness and resilience, green building, local community impact and the health, safety and wellness of our customers and employees.

 

Recognition

Recognition

 

Goals

Our sustainability goals establish reduction targets for energy, greenhouse gas emissions, water consumption and waste. By setting company-wide goals, we raise stakeholder awareness and make best efforts to drive continuous year-over-year, like-for-like key performance indicator improvement. We have adopted goals with the following specific time frames, metrics and targets below a 2008 baseline:

Goals

 

Key Performance Indicators

Water

Waste

Emissions

Certifications

 

Green Building

BXP is a corporate member of the U.S. Green Building Council® (USGBC) and has a long history of owning, developing and operating properties that are certified under USGBC’s Leadership in Energy and Environmental Design™ (LEED®) rating system. The LEED Green Building Rating System is a voluntary, consensus-based national standard of design guidelines for high performance and sustainable buildings. Since 2008, BXP has certified 15.2 million square feet of our actively managed office portfolio, of which over 95% is certified at the highest Gold and Platinum levels.

LEED for Building Design and Construction

We target LEED Silver® certification or better on all developments. Between 2008 and 2016, we completed 19 LEED certified new development projects, totaling 7.3 million square feet. As of the end of 2016, BXP was pursuing LEED certification of 3.5 million square feet of residential and office new construction.

LEED for Existing Buildings (LEED-EB)

Green building certification of our existing properties is an important component of our strategy to achieve operational sustainability. BXP continues to actively explore the LEED-EB certification across our portfolio and has a company-wide Sustainability Committee dedicated to sharing best practices. Currently, we have certified 16 of our actively managed properties, totaling 10.8 million square feet.

 

Building Materials

As part of our commitment to developing LEED projects, sustainability criteria informs the building materials selection process. These criteria, aligned with the LEED rating system, support sustainable construction material procurement, green building delivery, conservation of natural resources, waste reduction and occupant health. Project teams review vendor disclosures and aim to cost-effectively procure building materials that are:

  • Extracted, harvested, recovered and manufactured within 500 miles of the project site;
  • Composed of the maximum possible recycled content;
  • Third-party validated sustainably harvested wood products; and
  • Non-toxic and support healthy, productive indoor environments containing no volatile organic compounds (VOCs), urea-formaldehydes and/or other chemicals of concern.

High Performance Tenant Improvements

Tenant Improvement guidelines have been developed by Boston Properties to support sustainable design and construction of fit-ups and to strengthen a more sustainable Landlord-Tenant relationship. By following these guidelines during the design and construction process, we share common goals of creating workspaces that reduce environmental impact, improve indoor environmental quality and promote occupant health, wellness and productivity.

 

Education

Developing Boston Properties’ internal green design, construction, operations capabilities and knowledge base is a key aspect of the Company’s overall environmental strategy. Ongoing training and education of our employees is essential to sustainable operations and growth. We have made a concerted effort to train and accredit our managers and staff in green design, construction and operations. 72 managers across our development, construction and property management departments are certified as either LEED Accredited Professionals® or LEED Green Associates™. 47 building engineers have received Green Professional (G-PRO) Operations & Maintenance Essentials certification, a program which provides building skills training and is endorsed by the USGBC. Our trained property management professionals are equipped to effectively engage tenants to promote more sustainable tenant behavior and discovery of opportunities.

Green Professional Training 

GPRO is a series of courses and certificate exams that teach the people who build, renovate and maintain buildings the principles of sustainability combined with trade-specific green construction knowledge. GPRO Certificate Holders will be poised to work in accordance with new regulations and to meet the expectations of owners and tenants who want healthier, environmentally sustainable and energy-efficient homes and offices.

 

Energy & Emissions

Energy Management

Managing energy consumption and implementing energy conservation measures aligns with our objective to provide the greatest benefit to our tenants and investors. We continually measure and manage the usage of electricity, gas and steam using Energy Intelligence Software (EIS), EPA’s ENERGY STAR® Portfolio Manager® and energy audits. Our Regional Managers and Heads of Property Management have annual performance goals with energy, emissions, water and waste targets. These goals are formulated at the asset level and roll up to regional and company-wide targets.

Energy Intelligence Software

Since 2011, Boston Properties has strategically partnered with EnerNOC to deploy EIS and real time energy monitoring infrastructure, including 248 commodity meters at 102 sites. As an active manager, BXP leverages EIS, interval data and increased energy use awareness to optimize facility operations and to control utility costs by adjusting Building Management System (BMS) programming, verifying nighttime shutdowns/setbacks, holiday scheduling, peak load shedding, optimizing equipment runtime and executing strategic demand response events. Across the portfolio, 127 active EIS users log in an average of 104 times per week. Using interval data to optimize energy performance, BXP implemented over 5.8 million kWh in automatically generated energy savings measures in 2016, resulting in approximately $565,000 in savings. Interval data is also used to execute demand response events. Demand response program enrollments have generated income of $2.6 million over the last five years.

Energy Conservation Measures (ECMS)

We are committed to identifying and implementing ECMs and capital improvements that reduce energy use. ECMs are reviewed and the projects that meet certain investment criteria are implemented. In 2016, energy conservation efforts resulted in a 6.9% like-for-like energy use reduction, amounting to approximately $10.4 million in recurring annual utility cost savings. ECMs include lighting retrofits, HVAC upgrades and the addition of BMS programming and controls.

Lighting Improvements

Implemented measures include the relamping and replacement of fixtures with high-efficiency light emitting diodes (LEDs) and fluorescent lamps. Lighting system improvements also include the addition of occupancy and daylighting sensors and controls. Lighting improvements conserve resources, improve energy efficiency and provide improved lighting quality that supports healthy and productive indoor environments for our tenants.

HVAC Upgrades

Implemented measures include a variety of heating, ventilation and air conditioning improvements. Upgrades have been made to heating and cooling systems, including boiler retrofits, compressor replacements, air handling unit replacements, addition of variable frequency drives, installation of heat exchangers and improved filtration on cooling towers. HVAC equipment upgrades and replacement, central plant improvements, modernization and reconstruction projects are helping drive energy savings and optimize occupant comfort, health and wellness.

BMS Programming and Controls

Implemented measures include demand control ventilation, airflow stations and monitoring, occupancy sensors and the addition of direct digital control points to building automation systems. Adjustment of ventilation rates to meet demand improves energy efficiency and air quality, particularly CO2 concentration.

Renewable Energy

In 2016, Boston Properties generated more than 1 million kWh renewably on-site. At specific sites, distributed generation technologies such as solar photovoltaics are capable of producing energy more cost-effectively than traditional technologies. We are pursuing renewable energy projects where these utility cost discounts are evident. We are actively researching and pursuing the adoption of alternative and renewable energy technology at our existing buildings and new developments. Over half of our new development projects are either studying or implementing alternative and renewable energy installations, including solar photovoltaics, vertical axis wind turbines and/or co-generation systems.

 

Water

We recognize the growing importance of water conservation. In 2016, Boston Properties cut water use by 4.0%. Since 2008, BXP has reduced water use intensity (gallons/SF) by 21.8%, saving 160 million gallons of water every year. We use ENERGY STAR Portfolio Manager to monitor and benchmark water usage in buildings where we have access to water meter data. We prioritize the oldest, least efficient fixtures for improvement and focus our efforts on some of our largest properties to ensure that we are maximizing our conservation efforts. Implemented improvements include smart controllers, low flow sprinkler heads, rain sensors, cooling tower retrofits and infrastructure improvements. BXP is also a leader in rainwater harvesting. At the end of 2016, BXP had placed three rainwater harvesting systems in service and had two more under development.

 

Waste

In partnership with our vendors and tenants, Boston Properties has implemented best waste management practices, including single stream recycling, composting and e-waste programs for tenant solid waste in all of our regions. As a result, 57.3% of office waste by weight is recycled across our portfolio, which is a 21.3% increase since 2008. We also work closely with our vendors and tenants to promote responsible waste management practices, including haul trip optimization and composting at cafés and restaurants.

Single-Stream Recycling

We have worked across our portfolio with our tenants and waste haulers to transition to single-stream recycling programs. Single-stream simplifies recycling. Commingled materials are collected in one container and sorted off-site at a material recovery facility. The advantages of single-stream recycling include increased customer participation and potentially higher waste diversion rates.

Composting

Our integrated composting program diverts 3,125 tons of organic material from landfills. We work with our tenants to ensure that they have signage and receptacles and our buildings have designated central compost bins with frequently scheduled pickup. Composting produces valuable nutrient-rich soil and reduces the frequency of waste hauls required, saving an estimated $180,000 in hauling fees annually.

 

Transportation

Over 76% of our square footage is located in central business districts with ready access to public transportation. Within 0.25 miles of our buildings, the customers and communities we serve have access to over 3,000 alternatives to non-single occupancy vehicle transportation, including bike spaces, bike sharing stations, bus stops, subway stations, commuter rail stations, car share spaces, hybrid spaces, van pool spaces and electric car charging stations.

BXP promotes the use of mass transit by its tenants through on-site events for tenant employees, newsletters and one-on-one meetings with tenant contacts. Our employees support alternative transportation programs by working with local transportation management authorities and supporting the use of car pooling. We encourage our employees to use alternatives to single occupancy vehicles by subsidizing the purchase of transit passes and enabling employees to fund many of their additional commuting expenses, such as vanpools and parking at public transportation stations, by using pre-tax dollars through our Commuter Benefits program.

 

Climate Preparedness

We understand the importance of climate preparedness and are working proactively to protect our investments. We are preparing for environmental impacts, including increased flooding, severe storms and water scarcity by implementing measures to improve the resilience of our existing properties and new developments. Across our portfolio, we are assessing vulnerability, modeling future sea level rise scenarios and developing infrastructure improvements and emergency response plans.

 

Health & Wellness

Indoor Environmental Quality

Thermal comfort and air quality are fundamental to healthy and productive workplaces. Boston Properties assures thermal comfort by continuously monitoring space temperature set points across the portfolio with advanced building management systems. Air quality is routinely and proactively tested for volatile organic compounds, mold and CO2 concentration. We understand that the creation of great space requires careful consideration of the lives inside our buildings. We strive to create these great places by incorporating principles like biophilic design, connecting occupants with the natural environment, and developing supporting restaurant, retail and service amenities that nourish and delight our customers.

Green Cleaning

All regions have formalized a Green Cleaning requirement with our cleaning vendors to minimize the impact of cleaning products on the environment. Aspects of this requirement include using Green Seal Certified® cleaning products, High Efficiency Particulate Air (HEPA) vacuums, dry cleaning for carpets and restroom supply products made from recycled materials. Our Green Cleaning program benefits both the janitorial workers within our buildings and our tenants because the cleaning methods and products used do not include toxic chemicals that can cause respiratory and dermatological problems. Indoor air quality has also improved as a result of the use of HEPA vacuums. The cleanliness of our properties is maintained by over 1,000 janitors and porters who are trained in green practices and use Green Seal Certified products.

Employee Health and Wellness Program

Our employees are what sets Boston Properties apart. Our operational and financial performance depends on their talents, energy, experience and well-being. Our continued success is attributable to having healthy and productive employees. BXP’s employee benefit programs are designed to meet the needs of our diverse workforce and support our employees and their families by offering comprehensive programs that provide flexibility and choice in coverage. Our Employee Wellness Program, established to encourage employees to improve their health and well-being, offers wellness activities facilitated through an engaging and personalized approach. Incentives for enrollment include a health care coverage premium credit and smart fitness gadgets.

The Boston Properties benefits program is designed to offer valuable resources to protect and enhance financial security and to help balance work and personal life. Some of the benefits that we offer our employees include health and dental insurance, a 401(k) plan with a generous matching contribution, an employee stock purchase plan, health care and dependent care reimbursement accounts, income protection through our sick pay, salary continuation and long term disability policies, a scholarship program for the children of employees, a commuter subsidy to support the use of public transportation, tuition reimbursement and paid vacation, holiday and personal days to balance work and personal life.

Quality Workplace

Maintaining a quality workplace is central to demonstrating our commitment to each of our employees. As an Affirmative Action and Equal Opportunity Employer, Boston Properties is committed to fair and impartial treatment of all employees and maintains a respectful workplace free from all types of discriminatory harassment. Employees undergo regular training to understand our policy against harassment and their responsibilities under our Code of Business Conduct and Ethics with respect to conflicts of interest, fraud, financial reporting and dealing fairly in our business relationships. Our quality workplace ensures that employees have the opportunity to make their maximum contribution to BXP and to their own career goals, while simultaneously serving the requirements of society, the law, sound business practices and individual dignity.

By providing a quality workplace and comprehensive benefit programs, we recognize the commitment of our employees to bring their talent, energy and experience to BXP, which allows us to lead the industry in every facet of our operations. Our continued success is attributable to their expertise and dedication. The success of our efforts in the workplace is demonstrated by the long tenure of our employees and union workers, 40% of whom have worked at BXP for more than 10 years.

 

Community Involvement

We are a leading property owner and developer, our local teams are very engaged in their local communities, not only seeking entitlements, but also determining how our projects can enhance neighborhood amenities and quality of life. Our community involvement was strengthened in 2016 by our ongoing commitment to volunteerism and philanthropy. Throughout the year BXP employees donated over 4,000 service hours to more than 700 community events and charitable activities.

In addition to supporting charities and community groups across our regions, we are committed to enhancing our local, national and global communities through education and outreach and volunteer our time with industry groups, including BOMA, NAREIT and local chambers of commerce and tourism organizations. Boston Properties serves on government committees including regional and city sustainability efforts and “green” ribbon task forces, Building Innovation District and Ecodistrict sustainable neighborhood planning committees, technical advisory teams and local engineering unions. Additionally, we provide building tours, offer educational programs about our buildings and operations and host annual sustainability and healthy-living events.

 

United Way

United Way of Massachusetts Bay and Merrimack Valley

During four Community Care Days held this year in Boston, 54 BXP employees worked a total of 432 hours at four projects around the region. One of the projects involved improvements to an organic garden at the Boston Center for Youth and Families (BCYF). BCYF members planted crops last year for the first time and donated all proceeds to local families in need of food support. In addition to the Community Care Days, we raised $85,000 through employee contributions, a Company donation and proceeds from the Casino Night fundraiser in mid October 2016.

United Way

Volunteer Expo at the Prudential Center

The Prudential Center hosted the 11th annual Volunteer Expo, where over 80 Boston area nonprofit organizations hosted informational exhibits within the Center to raise awareness for their causes and promote volunteer opportunities. This event promotes multiple volunteer opportunities in a variety of categories, including education, environment and youth services. Since 2006, over 500 organizations have participated, resulting in more than 3,000 community members connecting with charities to support.

United Playaz

Winter Wonderland at Embarcadero Center

In partnership with the San Francisco Police Department and the San Francisco Police Activities League, BXP hosted Winter Wonderland at the Holiday Ice Rink at Embarcadero Center. 200 children, SFPD officers and parents enjoyed ice skating, playing life size Jenga®, making arts and crafts, jumping around in a bouncy house and taking fun photo booth pictures with Santa Claus. 

JDRF Games

JDRF Real Estate Games

The JDRF Real Estate Games is an Olympic-style field day for adults. The annual fundraiser sponsored by the Washington DC area real estate community benefits the JDRF Greater Chesapeake and Potomac Chapters. 115 companies and over 2,400 individuals participated, raising $520,000 for Type 1 diabetes research.  

Charrette

The Salvadori Center Charrette

In New York, BXP sponsored the Salvadori Center Charrette, an all-day design challenge that brings together 100 students from schools all over New York City. Each year the students are given a new challenge related to the built environment and asked to find a solution using only the specific parameters and materials provided. This year’s challenge required the students to design water towers made of spaghetti that were at least 32” tall and capable of withstanding an earthquake.

Thanksgiving Food Drive

Reston Community Center Thanksgiving Food Drive

During a Thanksgiving food drive benefitting the Reston Community Center, BXP facilitated the collection of several hundred non-perishable food items. All donations went to families in need in and around the Reston area.

 

Case Studies

535 Mission Street

Relentless focus on operational efficiency leads to big savings

888 Boylston, Boston's Most Sustainable Building

As Eataly, Under Armour, Tesla and others open their doors for business, we're transitioning from developing to operating a building that has been called Boston's Most Sustainable. Read the case study to learn more about why 888 Boylston Street is our greenest building.

A Golden Performance at 100 Federal Street

Boston Properties becomes an early adopter of LEED® Dynamic Plaque, a building performance scoring and monitoring platform.

Thinking on the Bright Side

Cutting edge LED lighting technology has been adopted at the Prudential Center garage, reducing operating costs and carbon emissions.

Greening an Architectural Landmark

Simple systems tweaks lead to big cost savings at Boston’s most iconic building.

Home Grown Clean Energy at Bay Colony

Bay Colony shines with the largest garage-mounted solar canopy in the Northeastern United States.

Urban Bee Keeping

Find out what all the buzz is about at Atlantic Wharf!

Weston Corporate Center Deep Water Source Cooling System

See how we took advantage of the natural resources at Weston Corporate Center to create a state of the art deep water cooling system.

Harvesting Rain at Atlantic Wharf

Harvesting rain at Atlantic Wharf has helped to save over 12.5 million gallons of water annually-that’s 19 Olympic sized swimming pools! 

701 Carnegie Center

701 Carnegie Center achieves LEED Gold Certification with careful development strategies.

Democracy Tower

High-performance glass and occupancy sensors help reduce the energy usage in this LEED CS Gold building in Reston Town Center.

 

GRI Index

GRI 102: GENERAL DISCLOSURES

102: ORGINAZATIONAL PROFILE

102-1

Name of the organization

Boston Properties Inc., Boston Properties Limited Partnership
102-2

Activities, brands, products, and services

Annual Report 2016 Form 10-K, page 1

102-3

Location of headquarters

The Prudential Center, 800 Boylston Street, Boston, Massachusetts, 02199-8103

102-4

Location of operations

Annual Report 2016 Form 10-K, page 1-2; Sustainability Report 2016, page 4

102-5

Ownership and legal form

Annual Report 2016 Form 10-K, page 1-2; Sustainability Report 2016, page 4

102-6

Markets served

Annual Report 2016 Form 10-K, page 1-2, 30-33; Sustainability Report 2016, page 4

102-7

Scale of the organization

Annual Report 2016 Form 10-K page 1, 30-33, 39-43

102-8

Information on employees and other workers

Annual Report 2016 Form 10-K, page 1; Sustainability Report 2016, page 8

102-10

Significant changes to the organization and its supply chain

Annual Report 2016 Form 10-K page 1-6

102-11

Precautionary Principle or approach

Sustainability Report 2016, page 25 

102-12

External initiatives

Sustainability Report 2016, page 12

102-13

Membership of associations

Sustainability Report 2016, page 16

102: STRATEGY

102-14

Statement from senior decision-maker

Annual Report 2016 Form 10-K page 10-11, Sustainability Report 2016, page 3
102-15 Key impacts, risks, and opportunities Annual Report 2016 Form 10-K, page 23-25; Sustainability Report 2016, page 5-28

102: ETHICS AND INTEGRITY

102-16 Values, principles, standards, and norms of behavior  Sustainability Report 2016, page 6-7; Annual Report 2016 Form 10-K, page 12; Website, Corporate Governance, Code of Conduct and Ethics, Policy on Political Spending
102-17 Mechanisms for advice and concerns about ethics Sustainability Report 2016, page 6, 28

102: GOVERNANCE

102-18 Governance structure  Annual Report 2016 Form 10-K, page 11-12, 173; Sustainability Report 2016, page 5
102-19 Delegating authority Sustainability Report 2016, page 5
102-20 Executive-level responsibility for economic, environmental, and social topics  Sustainability Report 2016, page 5
102-21 Consulting stakeholders on economic, environmental, and social topics  Sustainability Report 2016, page 5
102-22 Composition of the highest governance body and its committees Sustainability Report 2016, page 5
102-23 Chair of the highest governance body Sustainability Report 2016, page 5
102-26 Role of highest governance body in setting purpose, values, and strategy Sustainability Report 2016, page 5
102-31 Review of economic, environmental, and social topics Sustainability Report 2016, page 5
102-32 Highest governance body’s role in sustainability reporting  Sustainability Report 2016, page 5

102: STAKEHOLDER ENGAGEMENT

102-40 List of stakeholder groups Sustainability Report 2016, page 9-10
102-42  Identifying and selecting stakeholders Sustainability Report 2016, page 9-10
102-43 Approach to stakeholder engagement Sustainability Report 2016, page 9-10

102: REPORTING PRACTICE

102-45 Entities included in the consolidated financial statements  Annual Report 2016 Form 10-K, page 1-2
102-46 Defining report content and topic Boundaries  Sustainability Report 2016, page 8, 14, 16, 18, 19, 21 - 26, 29
102-47 List of material topics  Sustainability Report 2016, page 11
102-50 Reporting period Fiscal year ended December 31, 2016
102-51 Date of most recent report  July, 2016
102-52 Reporting cycle Annual (for Annual Report)
102-53 Contact point for questions regarding the report  Ben Myers, Sustainability Manager at Boston Properties, E: bmyers@bostonproperties.com, T: +1 617 293 9895
102-54 Claims of reporting in accordance with the GRI Standards This report contains Standard Disclosures from the GRI Sustainability Reporting Guidelines
102-55 GRI content index Sustainability Report 2016, page 35
102-56 External assurance Report not assured

103: MANAGEMENT APPROACH

103-1 Explanation of the material topic and its Boundary Provided alongside material topics (see below)
103-2 The management approach and its components Provided alongside material topics (see below)
103-3 Evaluation of the management approach Provided alongside material topics (see below)

GRI 200: ECONOMIC

201: ECONOMIC PERFORMANCE

GRI 103   Annual Report 2016 Form 10-K, pages 1-2, 13-29, 39-44, 107-172,  Sustainability Report 2016, page 16-17, 19-20, 23, 25; Website: Sustainability - Community Involvement
201-1 Direct economic value generated and distributed  Annual Report 2016 Form 10-K, pages 39-42, 103-167, 169; Website: Sustainability -  Community Involvement
201-2 Financial implications and other risks and opportunities due to climate change Annual Report 2016 Form 10-K, page 24; Sustainability Report 2016, page 16-17, 19-20, 25
201-3 Defined benefit plan obligations and other retirement plans Annual Report 2016 Form 10-K, page 132

205: ANTI-CORRUPTION

GRI 103   Sustainability Report 2016, page 6
205-2 Communication and training about anti-corruption policies and procedures Sustainability Report 2016, page 6

GRI 300: ENVIRONMENTAL

300: MATERIALS

GRI 103   Sustainability Report 2016, page 11, 17

302: ENERGY

GRI 103   Sustainability Report 2016 page 11, 13-14, 19-21
302-1 Energy consumption within the organization Sustainability Report 2016, page 14
302-2 Energy consumption outside of the organization Sustainability Report 2016, page 14
302-3 Energy intensity Sustainability Report 2016, page 14
302-4 Reduction of energy consumption Sustainability Report 2016, page 20, 21
302-5 Reductions in energy requirements of products and services Sustainability Report 2016, page 20, 21
GRI - CRE 1 Building energy intensity Sustainability Report 2016, page 14

303: WATER

GRI 103   Sustainability Report 2016 page 11, 13, 15, 22
303-1 Water withdrawal by source Sustainability Report 2016, page 15
GRI - CRE 2 Building water intensity Sustainability Report 2016, page 15

305: EMISSIONS

GRI 103   Sustainability Report 2016 page 11, 13, 14, 19, 20
305-1 Direct (Scope 1) GHG emissions Sustainability Report 2016, page 14
305-2 Energy indirect (Scope 2) GHG emissions Sustainability Report 2016, page 14
305-5 Reduction of GHG emissions Sustainability Report 2016, page 14

306: EFFLUENT AND WASTE

GRI 103    Sustainability Report 2016, page 11, 13, 15, 23
306-2 Waste by type and disposal method Sustainability Report 2016, page 15, 23

307: ENVIRONMENTAL COMPLIANCE

GRI 103    Website: Corporate Governance - Code of Conduct and Ethics

TRANSPORT

GRI 103   Sustainability Report 2016, page 11, 24

GRI 400: SOCIAL

401: EMPLOYMENT

GRI 103   Sustainability Report 2016, page 11, 24, 27
401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees Sustainability Report 2016, page 24, 27

404: TRAINING AND EDUCATION

GRI 103    Sustainability Report 2016, page 18 
404-2 Programs for upgrading employee skills and transition assistance programs Sustainability Report 2016, page 18 

406: NON-DISCRIMINATION

GRI 103    Sustainability Report 2016, page 6, 28; Website: Careers- Diversity and Commitment to Quality Workplace

413: LOCAL COMMUNITIES

GRI 103    Sustainability Report 2016, page 29
413-1 Operations with local community engagement, impact assessments, and development programs Sustainability Report 2016, page 29

415: PUBLIC POLICY

GRI 103    Annual Report 2016 Form 10-K, page 12; Sustainability Report 2015, page 6; Website: Corporate Governance - Code of Conduct and Ethics - Policy on Political Spending

417: MARKETING AND LABELLING

GRI 103    Sustainability Report 2016, page 11, 15-16
GRI - CRE 8   Sustainability Report 2016, page 15-16

419: SOCIOECONOMIC COMPLIANCE

GRI 103    Sustainability Report 2016, page 28; Website: Corporate Governance - Code of Conduct and Ethics

 

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