Certification marks major milestone in KingSett’s Decarbonization Strategy
(Toronto, ON) February 27, 2023 – KingSett Capital’s Scotia Plaza building at 100 Yonge Street in downtown Toronto has achieved the prestigious Zero Carbon Building – Performance Standard certification. This marks a major milestone in KingSett Capital’s Three-Phase Decarbonization Strategy as the firm works towards a decarbonization goal of 35% of carbon emissions across its CREIF portfolio by 2027.
100 Yonge is a Class “A” office building with 275k square feet of space and is the second building in our portfolio after 40 King Street West to receive this certification.
KingSett’s Decarbonization Strategy has included replacing end-of-life boilers and chillers, upgrading air handlers with heat recovery, and installing air source heat pumps to replace the existing heating plant.
Thanks to these efforts, 549 tonnes of carbon emissions will be eliminated annually – a 76% reduction – equivalent to removing 118 passenger vehicles from the road. These results exceed the Carbon Risk Real Estate Monitor (“CRREM”) guidelines for Canadian office building emissions by 2050, which are aligned with the Paris Climate Agreement and Science Based Targets Initiative (“SBTi”).
About KingSett Capital
KingSett Capital is a pioneer in the Canadian private equity real estate industry, co-investing with institutional and ultra-high net worth clients to deliver sustainable, premium risk-weighted returns. With over $17 billion in assets under management and a $19 billion portfolio, KingSett has a proven track record of success, having raised $15.4 billion in equity for its Growth, Income, Urban, Mortgage, Residential Development and Affordable Housing strategies since its founding in 2002.
