Commitment to Sustainable Development
Across our portfolio, Ventas is undertaking wide-scale, long-term environmental programs, local sustainability initiatives and pilot programs that meet our objectives of protecting the planet, lowering operating costs and improving the efficiency of our building operations. Sustainable real estate development practices are integrated into all of our acquisitions, asset management processes and risk management processes, which help to reduce risk, including risk from climate change.
Ventas is an ENERGY STAR partner with a focus on meeting national energy efficiency benchmarks established by the US Environmental Protection Agency (EPA). The majority of Ventas’s U.S. SHOP and MOB properties are enrolled in ENERGY STAR portfolio manager, an online tool to measure and track energy and water consumption as well as greenhouse gas emissions.
Ventas was also named an ENERGY STAR® Charter Tenant for our Chicago, IL, headquarters location, highlighting the critical role that commercial tenants play in the energy performance of their offices. We worked with the EPA during the pilot and meet five energy criteria set by the EPA, including estimated energy use, metered energy use, lighting efficiency, use of efficient equipment and shared data.
Ventas is a proud member of the U.S. Green Building Council with experienced in-house LEED-accredited staff. Our Chicago headquarters is also located in a state-of-the-art LEED Platinum-certified building, the highest level of distinction awarded. In 2017, we relocated our second corporate office in Louisville, KY, to a new LEED-certified building and achieved LEED Gold certification for our interior build-out.
Ventas has $240 million in active LEED development and redevelopment projects, representing nearly 70% of our active development spend in Q1 2019. All projects within our University-based Research & Innovation portfolio target LEED Silver or greater designations.
SOUTH STREET LANDING
A 269,000 square-foot historic renovation of a former electrical power station, located on a high-quality life science, research and medical campus in Providence, RI, has become an important model for the future redevelopment of historical sites.
- Projected to achieve nearly 18% energy savings over the minimum energy code
- Preserved the building’s rich history, garnering state and federal historic tax credits, and remains on the National Register of Historic Places for Providence
- Expected to create 540 jobs, generating $29 million in annual earnings
- Catalyst for the transformation of Providence’s Jewelry District into an innovation hub, spurring economic grow thin a formerly uninhabited neighborhood
- Projected to achieve LEED Gold certification
- Anchored by Brown University and the Nursing Education Center, an initiative between Rhode Island College and University of Rhode Island’s nursing programs
- Part of our University-based Research & Innovation (R&I) development portfolio with Wexford Science & Technology
Ventas engages with our operating partners and tenants to identify and implement operational eco-efficiency measures.
Our wide-scale, long-term environmental initiatives aim to lower operating costs and reduce energy, emissions, water use and waste across our real estate portfolio.
We are on track to meet our ambitious 10-year targets set in 2013 to reduce our environmental impact.4
10-Year Water Target: -5%
Smart Irrigation: Ventas has implemented water-efficient irrigation systems at more than 70 Ventas seniors housing operating communities.
Drought-Tolerant Landscaping (Xeriscape): Drought-tolerant and native landscaping has also been implemented at several Ventas medical office buildings and seniors housing communities in Arizona and California. Water-loving grass is replaced with drought-tolerant native plants, which require much less water to survive and are also better for native pollinators. In addition to conserving water, these landscapes have lower maintenance costs and reduce the need to use gas-powered lawnmowers and trimmers.
High-Efficiency Plumbing Retrofits: We have implemented high-efficiency water fixtures, such as water aerators, low-flow toilets and low-flow shower heads, at several Ventas medical office buildings and seniors housing operating communities. Since implementation, these high-efficiency fixtures have helped save an estimated 10.2 million gallons of water.
10-Year Landfill Waste
Recycling and Composting: As of 2017, Ventas has implemented recycling programs in its corporate offices and at more than 239 portfolio properties, including medical office buildings and senior housing communities, and we have composting programs at 10 senior housing communities.
Ongoing Waste Performance Monitoring: Since 2016, Ventas’s program to oversee waste contracts and waste diversion performance has enabled us to track waste data at the majority of medical office buildings in our environmental control boundary. Ventas also collects waste data from several of our operators and tenants, and we continue to expand our waste data coverage to help identify opportunities for recycling and other waste efficiency measures.
ATRIA FOSTER SQUARE
A vibrant seniors housing development in Foster City, CA, incorporates sustainable design and practices that help conserve the Bay Area’s natural resources, resulting in a state-of-the-art community with a reduced carbon footprint.
- Innovative green roof that stores and filters rainwater
- Energy-efficient LED lighting, calibrated for mature eyes
- Energy- and water-efficient appliances and fixtures
- Environment- and health-friendly building materials
- Sustainable site and building design that maximizes resident mobility and accessibility and leverages natural sunlight and bay and mountain views
- LEED Silver certification
- For developments in progress in 2017.
- Based on historical spend and estimated returns 2013–2017.
- Data correct as of 03/31/2019.
- The coverage for Ventas’ environmental targets is our owned real estate assets where we have access to utility data. We continually strive to increase our utility data coverage. As of 12/31/2016, our data coverage for each target is (as a percent of total owned square feet): Energy and GHG Emissions: 64%; Water: 55%; Landfill Waste: 43%. The progress against our targets is measured for a subset of this, which is the pool of assets owned from 2013 to present.
- Subject to further investigation and confirmation of energy savings and ROI.