'Boston Properties Inc' announced the creation of its first-ever ESG committee. This committee was launched alongside the company setting a range of goals, such as a commitment to carbon-neutral operations by 2025 and a commitment to ensuring equality and accessibility across its business operations.
The committee, according to Boston Properties Inc, "Allows BXP to be a more purposeful company. Focusing on ESG is both the right and smart thing for us to do," said the CEO, Owen Thomas. The committee will work to address each area including carbon neutrality, diversity and inclusion, healthy building practices, and overall positive social impact.
In order to achieve the environmental goals, the ESG committee will work closely with all departments "from the board room to the boiler room," according to Ben Myers, the VP of sustainability. This helps prevent the ESG committee from falling into the pitfalls of simply looking at an issue from management or from a worker's point of view.
As for its equality and equity goals, the ESG committee will work closely with each relevant department, including onboarding, human resources, management, training, community engagement, and more.
Comprehensive ESG Committees
Boston Properties Inc. Created a New ESG Committee
Trend Themes
1. ESG Committee Creation - There is an opportunity for companies to create ESG committees to focus on environmental, social, and governance issues and set ambitious goals for sustainability, diversity, and positive impact.
2. Carbon-neutral Operations - Companies can aim for carbon neutrality by setting targets and working closely with all departments to achieve a comprehensive strategy for reducing emissions.
3. Equity and Inclusion - Companies can establish committees to promote equity and inclusion across all relevant departments and prioritize issues such as onboarding, human resources, management, training, and community engagement.
Industry Implications
1. Real Estate - Real estate companies can establish ESG committees and set goals for sustainability, diversity, and social impact to promote responsible development and operation of properties.
2. Corporate Sustainability - Companies can prioritize ESG issues and establish committees to create comprehensive strategies for sustainable operations and positive social impact, which can enhance brand reputation and attract socially conscious investors.
3. Human Resources - Human resources departments can work with ESG committees to promote equity and inclusion in onboarding, training, and community engagement, which can improve employee retention and enhance corporate culture.