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Sustainable Investing


Our approach to sustainable investing



Download our 2023-2024 report

Download our 2023-2024 report

Download our 2022 climate report

As a fiduciary, we approach sustainable investing from both a risk mitigation and a value creation perspective to help enhance the long-term financial and operational resiliency of the asset.


Our commitments

  • BGO is a signatory to the Net Zero Asset Managers’ (NZAM) initiative, pledging to support the goal of net zero emissions by 2050. By joining this initiative, we will work in partnership with clients on meeting their decarbonization goals1
  • In 2021, BGO set a goal that two-thirds of new hires at the firm globally would identify as belonging to an underrepresented group in our industry. For the past two years, we have surpassed this goal. We have also set a target to achieve gender parity by 2030.

Leadership in ESG


Top rankings in GRESB, the global real estate ESG benchmark, for 13 consecutive years | In 2023, two strategies achieved 5 Stars ("Industry Leaders") | Three strategies achieved 4 Stars


Received 4-Star or 5-Star rating, above PRI average, on every module. 5-Star rating in the Confidence Building Measures module, highlighting the strength of BGO's governance and data quality | Signatory to PRI since 2008


ENERGY STAR Partner of the Year Sustained Excellence for 14 consecutive years for leadership in energy management

Fitwel Champion5

Participate as a member of the Fitwel Leadership Advisory Board (LAB) and a Fitwel Champion, supporting the healthy building movement

Green Lease Leaders6

Received Gold Landlord award, recognizing leadership in setting the standard on green leases and sustainability clause integration


Real Estate Investment Management ESG Award in the open-ended fund strategy was awarded to our Canadian core strategy in 2023

ESG Highlights8



  • 53 solar projects completed to date9
  • 24 net zero studies initiated in 202310

Resource Conservation

  • $17M in utility savings from 2019 to 202311
  • 14.5% reduction in energy intensity in 2023 vs. 201912

BGO Human Capital

  • 24% of Senior Management is comprised of women13,14
  • 69% of new employees were women or visible minorities15

Thriving Communities

  • $857,129 donated to charities16
  • 45 corporate volunteer events funded globally by BGO Inspired17

Industry Engagement

  • 49% of real estate equity AUM reported to GRESB18
  • 35% of BGO’s AUM19,20 is included in our 2030 NZAM interim target



Climate resiliency

BGO views climate resilience as having the adaptive capacity to manage risks posed by climate change in addition to seizing the opportunities it presents. As a real estate investment manager, BGO plays a dual role in fostering such resilience. We are committed to enhancing our approach to integrating physical and transition risks, with the goal of reducing GHG emissions from new developments and across our global portfolio’s operations.

To learn more about our approach to managing climate-related risks and opportunities, please see our 2022 Climate Report.


Driving environmental performance improvements

Improving operational efficiency is integral to reducing GHG emissions, while at the same time lowering costs and enhancing long-term value. We rely on conscientious stakeholder engagement and sound data management practices to help reduce energy use and water consumption and improve waste diversion rates.


Equity, Diversity, and Inclusion (EDI)

BGO's ambition is to be an industry leader in EDI. Our vision is to create an environment in which all employees feel valued, included and empowered to do their best work is critical to our success. We recognize that each employee’s unique experiences, perspectives, and viewpoints strengthen our ability to create and deliver the best value to our clients, partners and stakeholders/investors. BGO rolled out a three-year strategic plan with four pillars that serve as our foundation for organizational diversity:

  • ATTRACT: Bringing diverse talent into BGO
  • RETAIN: Recognizing and keeping our diverse talent
  • CULTIVATE: Developing our diverse talent
  • COMMUNICATE: Telling our DEI story internally and externally

Learn about how we our attracting diverse talent with our Built to Lead program



Community Engagement

Our focus on social impact is aligned with our holistic approach to real estate investment. We work together with investors, tenants and other stakeholders to create thriving communities. Through our philanthropic mission, BGO Inspired, we are using our influence to make a difference. Connected at the intersection of the many communities we belong to, and identify with, our employees have united to direct the resources of BGO’s global philanthropy program to help create positive impact in our communities. Learn more about BGO Inspired here.

Our 2023 impact

Total BGO Donations in 2023: $857,129 (USD)

Number of Charities Supported Globally: 155



Industry Engagement

Our involvement with global industry associations allows us to share sustainable investing best practices, successes, and challenges based on our deep experience. We demonstrate our commitment to industry leadership through our participation in research that may inform policymakers, and establish industry benchmarks alongside our peers who are likewise committed to advancing the environmental and social performance of commercial real estate through sustainable investing. Examples of industry engagement include the following:

  • Signatory to the PRI since 2008
  • Participant in GRESB for since 2009
  • ENERGY STAR Partner of the Year since 2009 and recognized with Sustained Excellence since 2011 for leadership in energy management
  • Member of ULI Greenprint Center for Building Performance since 2022
  • Fitwel Champion since 2017 and member of the Fitwel Leadership Advisory Board (LAB) since 2023
  • Member of the Canadian, U.S. and U.K. Green Building Councils
  • Member of the Real Property Association of Canada (REALPAC)'s ESG Committee
  • Member of the PRI Real Estate Advisory Committee (REAC) since 2022
  • Committed to equity, diversity and inclusion (EDI) initiatives, such as Institutional Limited Partners Association (ILPA)’s Diversity in Action and CFA’s Diversity, Equity and Inclusion Code.

Tenant Engagement

We strive to establish long-term relationships with our tenants, which supports our objective to provide a high level of customer service while creating healthy environments for both tenants and building occupants. We regularly communicate with our tenants to help them understand the value of sustainable building attributes and collaborate with this group to achieve our goals for sustainable property operations.





At BGO, we foster a culture of respect, integrity, fairness and safety. Our Code of Business Conduct (Code) guides us to implement strong governance practices across our business. 

Our commitment to sustainable investing is established in our corporate vision and values, and incorporated into our strategic plan, which is reviewed, approved and monitored annually by the Board and senior leadership. Learn more about our Governance structure in our Sustainable Investing report.

Insights and stories

N01 Data Center Campus - Bulk Infrastructure


Powering the data center revolution with clean energy

With the growth in demand for modern data centers that are specifically built to serve the energy-intensive needs of artificial intelligence, BGO, through its investment in Bulk Infrastructure, is demonstrating how this demand can be met with renewable energy. Together, we are delivering on one of the most advanced data centers in Europe called the N01 Data Centre Campus, built in Norway, with the capacity to deliver up to 400 MW of clean electricity by 2026, and future ambitions to extend this to over 2,000 MW. BGO recently announced the growth of this new partnership with its focus on sustainability at the heart of a generational opportunity to meet an unprecedented demand for modern, newly constructed real estate in this niche sector.



LEED BD+ C and Fitwel at new multi-family development

One of BGO’s U.S. strategies recently completed the development of a 604-unit, two-building luxury apartment complex located in Boston’s South End. Upon completion of the second phase, the property achieved a two-star Fitwel certification with a score of 107. Some of the key health and wellness highlights of the property include a walkable surrounding neighborhood, bike storage and private outdoor courtyards. The property’s state-of-the-art amenities also include a two-story roof deck, on-site fitness center, pet spa, studio co-working space, resident lounge, outdoor grills and fire pits.

The property also recently achieved LEED Gold1 certification by incorporating sustainable features, such as low-flow plumbing fixtures, LED lighting, EV charging stations, and recycling 90% of all construction waste. The complex is also complemented by a publicly accessible green space between the two buildings, plus other community benefits such as a local farmers market and artwork created by local artists.



The gateway to UK innovation: Investing in Cambridge’s science cluster

In 2022, BGO partnered with a local developer to bring a new life sciences project to the science and innovation district in Cambridge. The district aims to accommodate the entire life cycle of innovation companies, from the beginning stages of discovery through research and development to manufacturing. The project will be located in the heart of the district and built over multiple phases, spanning approximately 740,000 square feet. In line with BGO’s social objectives, the project aims to promote equal access to Science, Technology, Engineering and Math (STEM) and inspire young people interested in science and innovation. As a result, in 2023, BGO partnered with the Cambridge Science Centre to fund interactive STEM programs in local public schools and community centers.



Creating value through renewable energy

In 2023, BGO installed rooftop solar panel systems at three multi-family buildings in one of our Asian strategies with each solar installation consisting of 9.8kW systems. The buildings were chosen for this solar project due to subsidies and economic feasibility.

Feasibility studies were conducted in 2022 to confirm the capacity and estimated projected power generation. As a result of this installation, the properties were able to generate enough electricity through solar power to cover approximately 95% of the common areas’ electricity needs across the three assets. This solar initiative increased the Net Operating Income across the three properties by JPY 960,000 due to reduced electricity costs and revenue generated from selling excess electricity to the grid, resulting in an 8.8% increase in ROI. BGO sold these assets at a lower cap rate, resulting in an approximate three times return on capital expenditure through the solar panel installation.



Road mapping our decarbonization journey

Twenty-four assets across BGO’s Canadian portfolio were strategically selected to complete net zero decarbonization studies. Properties across all asset classes were identified and prioritized by evaluating the investment and asset strategy, geographic carbon exposure, financial impact, and the opportunity to decarbonize operational emissions. The studies will identify comprehensive pathways and practical, cost-effective recommendations for assets to reduce their operational carbon emissions to near zero by 2050, using a combination of energy efficiency measures, strategic capital investments, on-site renewable energy solutions and procurement strategies to address residual emissions.