HIW CRR 2023 v8 - Flipbook - Page 20
ENERGY AND CARBON
Highwoods is committed to transitioning to a lower
carbon future. This journey began 20 years ago with
the hiring of engineers who were on the forefront
of deploying microprocessors to closely monitor
energy consumption. As technology advanced, we
began benchmarking our energy performance using
ENERGY STAR Portfolio Manager and created an energy
command center to monitor energy usage in real-time.
cooling off-site by local utilities (Scope 2). We utilize
the ENERGY STAR Portfolio Manager online platform
to monitor GHGs from our on-going operations and
to track progress towards meeting our goals. We
are currently monitoring the evolving landscape
of frameworks and legislations for measuring GHG
emissions that may impact how we measure emissions
from our supply chain, construction projects and assets
for which we do not have operational control (Scope 3).
To deploy innovative energy efficient technologies,
we reinvest utility savings to implement high value
opportunities across our portfolio. In 2023, we invested
over $7 million in energy efficiency projects across our
portfolio that included LED lighting retrofits, building
automation system (BAS) controls upgrades and
cooling tower and chiller replacements.
CASE STUDY
CAPTRUST COOLING TOWER
We have expanded our portfolio-wide energy and
GHG emissions reduction goals, targeting 35%
energy intensity and 50% GHG emissions intensity
reductions by 2030 from a 2016 baseline.
In 2023, we achieved ENERGY STAR certifications for
100 assets (69% of SF) for the first time in Highwoods
history, which was accomplished through a concerted
effort to expand energy data coverage for customers
with triple-net leases. Additionally, we achieved LEED
certifications for all new, wholly-owned developments
to ensure high-performing, energy efficient systems
are in place.
We measure our GHG emissions as Scope 1 or 2
Emissions. GHG sources include the on-site
combustion of natural gas and fuel oil for heating
and back-up power generation (Scope 1) and the
generation of electricity and district heating and
We continuously assess the financial impact of
achieving carbon neutrality across our portfolio
through evaluating current green power supply options
in the markets where we operate and nationally.
Additionally, we aligned with the Intergovernmental
Panel on Climate Change (IPCC) best practices for
reducing Scope 1 and 2 emissions to advance our
transition to a lower-carbon future.
COOLING TOWER INSTALLATION
After we acquired CAPTRUST Tower in
Raleigh in 2021, our engineering team
coordinated with local contractors to
install a separate cooling tower and
boiler dedicated to the retail customers.
Separating the office and retail HVAC
systems improved customer comfort,
system controllability and reduced
operating costs associated
with operating the base building
condenser water system after hours,
including on-call engineering support.
We then replaced the base building
cooling towers.
COOLING TOWER INSTALLATION
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