Sustainability Spotlight
Spotlight 1
Environmental Leadership at Eco Parc
Eco Parc, an asset in clients’ Real Estate portfolios, is a 98-acre logistics campus development project located in the Montreal area. Under development since 2022, in partnership with developer Montoni and another Canadian investment partner, this two-building project is on track to be both LEED Gold and Zero Net Carbon certified later this year. Developed with carbon emission reduction and sustainability at its core, Eco Parc is projected to produce 97% fewer greenhouse gas emissions, compared to the standard. Careful construction material selection contributes to a 60% reduction in embodied carbon relative to standard construction practices. Innovative rainwater collection for grey water and advanced plumbing will lead to a 50% reduction in water usage.
Tenants received meaningful cost savings as a result of these sustainable design features. In comparison to a standard set by local governments, both buildings are expected to yield energy cost savings of 48% and an overall energy usage that is 58% lower than the efficiency standard for new developments.
Spotlight 2
Infrastructure Portfolio Adds Solar and Storage Project
AES Clean Energy, which is 25% owned by AIMCo, acquired the largest permitted solar-plus-storage project in the U.S. in June of 2023.
The project is located in Kern County, California where AES Clean Energy already has significant operations. It includes two phases, each with 500 megawatts of solar and up to 500 megawatts of four-hour duration battery energy storage. The acquisition strengthens AES Clean Energy's position as a leader in providing renewable energy solutions to corporate customers under long-term contracts.
Spotlight 3
Climate Taxonomy Helps Classify Investments
AIMCo developed a climate taxonomy in 2023 to serve as a classification system that helps identify climate change-related risks and opportunities in the portfolio and provides a baseline for where the assets are today with regards to carbon emissions. The system is designed to provide additional transparency for clients and frames both existing and new investments as they relate to changing energy dynamics and carbon intensity. Mapping the entire portfolio is a tall task and the work will continue throughout 2024 and beyond.
