Nuveen Real Estate: Energy performance

Energy Performance
Energy Performance
Average Annual % Improvement2.6%
PORTFOLIO ENERGY PERFORMANCE

Nuveen Real Estate strives to decrease portfolio-wide source energy use intensity (EUI) and committed to improving over a set baseline as a Better Buildings Challenge participant for an enrolled portfolio consisting of approximately 120 buildings totaling more than 25 million square feet. Nuveen Real Estate has improved energy performance by an average of more than 2.0% per year since 2008, officially earning Goal Achiever status in 2020. Energy savings are achieved through a comprehensive sustainability initiative that establishes aggressive annual EUI reduction targets per asset and reviews progress annually; leverages consulting support to identify technology solutions and operational improvements that optimize efficiency; and enhances property management and tenant engagement efforts.

ENERGY PERFORMANCE BY PROPERTY

Looking at the cumulative percent improvement in energy performance across all properties can provide insight into how an organization is saving energy.Nuveen Real Estate has achieved its improvements through a broad-based approach, with nearly half of all properties achieving a reduction in energy intensity of greater than 15% since 2008 and over 75% of properties seeing an overall reduction in energy use over a 10 year period.

 

IDENTIFYING OPPORTUNITIES FOR IMPROVEMENT

Property-level energy performance metrics, including EUI and percent improvement to date, are critical to track the progress of a portfolio over time and identify the best opportunities for additional energy savings. Nuveen Real Estate portfolio consists of properties with a range of baseline EUI values, most of which are between 125 to 250 kBtu/sq. ft. The sustainablity program identifies properties with both high EUI and high energy costs in order to prioritize the biggest opportunties for improvement. These assets are slated for increased engagement and resources to meet energy reduction targets.