HIW CRR 2023 v8 - Flipbook - Page 8
C L I M AT E R E S I L I E N C Y
We collect environmental data for our properties
through an integrated environmental management
system that aims to analyze and mitigate
environmental and climate risks and promote
resiliency. Our goal is to increase energy, water and
waste efficiencies across our portfolio, minimize
our impact on the environment and make positive
contributions to our customers, our communities
and society as a whole.
We believe we have an important role to play in
reducing greenhouse gas emissions and minimizing
our environmental footprint associated with the
development and operation of our properties. As such,
we are actively decarbonizing our portfolio and have
aligned our initiatives with global standards and best
practices, including the Intergovernmental Panel on
Climate Change (IPCC) and Task Force on Climaterelated Financial Disclosure (TCFD).
The Investment Committee of our Board of Directors
oversees all aspects of our climate risk and resiliency
strategy, including the review of risk management
policies, business plans, managing budgets, setting
performance objectives and monitoring program
implementation and performance. The Investment
Committee meets with our Corporate Resiliency
Team periodically to monitor progress towards
climate-related goals, discuss climate-related issues
and opportunities, and review impacts of recent
acquisitions and divestitures. In 2023, this collaboration
resulted in the development of a comprehensive
asset resilience index for quantifying and embedding
enterprise risk, including climate change, into our
financial and investment decision making.
Our climate resiliency initiatives strive to accomplish
the following:
• Support global climate commitments
• Manage climate-related physical and transition risks
throughout the life cycle of our assets
• Regularly assess the physical risks associated with
climate change
• Utilize industry leading risk assessment tools to
assess the potential financial impacts of climate
risk factors
• Develop individual climate resiliency plans for assets
with elevated climate-related risks
• Implement strategies to improve climate resiliency:
– Due diligence climate risk assessments
– Business continuity planning
– Emergency response and evacuation planning
– Floodable first floors
– Elevated electrical infrastructure
– Temporary flood barriers
– Life safety analysis and back-up
energy generation
Further, we have adopted an asset life cycle
perspective when assessing physical and transitional
climate-related risks. This life cycle view of our
portfolio is informed and guided by our
environmentally focused acquisition, development
and asset management procedures aimed at driving
resiliency and sustainability. Key considerations of
our approach include:
• Site Selection
• Material Sourcing and Procurement
• Renewable Energy
• Biodiversity and Habitat
• Indoor Environmental Quality
• Waste Management
• Water Management
HIGHWOODS LONG-TERM
CARBON STRATEGY
CARBON
OFFSETS
OFF-SITE
RENEWABLES
ON-SITE RENEWABLES
ELECTRIFICATION
UPGRADE SYSTEMS
REDUCE ENERGY USAGE
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