Our Board of Directors is committed to advancing initiatives company-wide and the ESG Committee is comprised of senior professionals across the firm who report on progress and implementation. Our work is not complete and we are committed to making continual progress in alignment with our employees, tenants, and investors.
Cabot promotes a culture of regulatory compliance, social awareness and employee well-being as a matter of sound business practices and responsible citizenry.
Sustainability
Responsible
Investment in Action
Cabot aims to incorporate responsible practices in all our investment and management processes. Our approach integrates sustainability touchpoints throughout the lifecycle of our investments.
New
Development
- All projects evaluated independently to identify site-specific sustainable features to integrate.
- Buildings designed to achieve new-build sustainable certification where feasible.
- Construction materials meet criteria for low emission values, including carpentry, framing and drywall, paint, among other categories.
- All projects incorporate concrete, surface and roofing materials with a lower solar reflectance rate to reduce heat island effect.
Acquisitions
- Property condition consultants provide a thorough physical risk assessment on every acquisition that analyzes current building systems and opportunities for improvement.
- ESG Due Diligence scorecard referred to as “Green Cost Table” included in review and findings underwritten and presented to Investment Committee for all deals.
- All underwriting includes LED upgrades either at acquisition or lease turnover, where feasible.
Asset
Management
- Manage the pursuit of operational green building certifications on assets where certification is feasible.
- Track portfolio progress through managing data on energy use, LED lighting, building certification, solar, etc.
- Facilitate the implementation of green lease language at acquisition or at lease turnover.
Property
Management
- Oversee tenant improvement projects and fit-outs, ensuring the use of sustainable, locally sourced building materials.
- Focus on tenants engagement and supporting our tenant’s diverse needs.
- Conversations around renewable energy options in select markets.
- Gather property level details and utility bills from tenants for benchmarking and annual reporting.
Objectives + Recent Actions
At Cabot, we are committed to the goals outlined below.
- Promote a work environment that emphasizes integrity, fairness and respect for all employees
- Implement cost-effective and practical solutions to reduce energy consumption, water usage, and waste disposal
- Develop properties to the highest environmental standard set by local authorities
- Foster employee growth at all levels through goal setting, objective feedback and mentoring
- Encourage employees to conduct business to the highest ethical standard
- Provide transparency to investors and clients regarding ESG commitment and actions
- Participate in the Global Real Estate Sustainability Benchmark (GRESB) for our US Core Funds
- Partner with an ESG platform and consulting service
- Implement ‘Green Lease’ provisions to our standard lease forms
- Develop properties to LEED, BREEAM, DGNB or other relevant local sustainable building certifications
- Advance our Women’s Mentoring Program
- Drive progress with our executive coaching program to support Cabot’s next generation of leadership
- Support diversity, equity and inclusion efforts through recruiting and fostering an inclusive workplace
Our Goals +
Commitments
Cabot is committed to developing a long-term strategy for our approach to sustainability, social initiatives, and governance; our company-wide goals reflect this commitment and are integrated among all teams and levels at the firm.
We align with five of the seventeen UN Sustainable Development Goals (SDGs) with the aim to support a framework that was developed as a ‘blueprint to achieve a better and more sustainable future for all by 2030’ and provide a clearer direction on our vision for the future. Our current ESG commitments are mapped to five of the SDGs that our team has identified.
UN SDGAlignment
Focus on employee benefits, health, and well-being. In 2023, we circulated a survey to all employees to gather feedback on our programs as well as updated employee benefits based on employee feedback.
Commit to upgrading energy options where feasible. In 2023, we completed a review of all Cabot assets to understand solar opportunities as well as continue to underwrite and execute LED upgrades at lease rollover.
Provide sustainable logistics assets to grow jobs and support the cities these assets serve. Our development process encourages working with municipalities to minimize the impact and maximize the benefits of our warehouses.
Explore new technology and continue to engage with peers and vendors to understand best-in-class practices. In 2023, we refined our processes around sustainable development and are continuing to define our requirements.
Add value to the cities and communities we invest in. In our investment process, we review options to add EV chargers in parking lots, community solar projects, beehives and other asset enhancements where feasible.
Social Responsibility
Community Involvement
Community Involvement
Volunteering and giving back to the communities we operate in is a pillar of what we practice. Our offices lead their own volunteering initiatives, including working with food banks, shelters, and other charitable organizations.
Employee Wellbeing
Employee Wellbeing
Our people are our biggest asset. Work / life balance is imperative to our families, communities, health and productivity. Through our flexible hybrid office policy and regularly reviewing and updating employee benefits, we are committed to the health and wellness of our employees.
Global Office Connectivity
Global Office Connectivity
We believe it is essential that employees at all levels across our firm’s regional US and international offices can come together in-person to develop close personal relationships, learn from each other, and reinforce our unique culture. Cabot invests heavily in this connectivity through in-person onboarding, annual leadership retreats, team building and strategic planning events.