10B — March 27 - April 9 , 2020 — Owners, Developers & Managers — M id A tlantic Real Estate Journal


O wners , D evelopers & M anagers Multifamily finance nonprofit announces carbonmitigation plans for continued sustainability

Community Preservation Corporation announces plan to go carbon neutral


and continues to push the real estate industry forward in its sustainability efforts. The Intergovernmental Pan- el on Climate Change (IPCC)’s Special report on the impact of global warming of 1.5°C (2018) details the global risks to health, livelihoods, food se- curity, water supply, human security, and economic growth that are projected to increase due to climate change. These are issues that affect cities large and small worldwide. According to New York City’s One City: Built to Last plan, the city’s buildings are responsible for the overwhelming share of

emissions. CPC’s work to achieve car- bon neutral operations is a continuation of its nonprofit mission and its commitment to align with City and State goals to reduce carbon emis- sions 80 percent by 2050. With such prevalent influence over the economics and conditions of the built environment, CPC believes that the real estate industry has a tremendous op- portunity, and responsibility, to take the lead in advancing measures that will improve the quality and sustainability of the communities in which we live and work.

“The impacts of cl imate change on the health and sta- bility of our cities are well docu- mented. From global warming to air pollution, drought, and flooding, our communities – especially those that are home to underserved and vulnerable populations – are struggling to adjust and cope with this new reality,” said Rafael Cestero , president and CEO of CPC. “We felt strongly that being good stewards of our neighborhoods meant that we needed to take a critical approach to changing our behavior and tracking our progress to further lessen our environmental impact. Achiev-

ing carbon neutral operations is a natural step for CPC that complements our ongoing sus- tainability initiatives, and will help us create greener, healthier, and more sustain- able cities.” Greg Hale , senior advisor for energy efficiency markets and finance, The New York State Energy Research and Development Authority (NYSERDA) said, “As an ad- visor on NYSERDA’s Carbon Neutral Buildings Roadmap, the Community Preservation Corporation is already leading by example, and by adopting carbon neutral operations CPC is now positioning itself as an industry leader in New York’s transition to a clean energy economy. By making this im- portant commitment, CPC is highlighting how businesses and the private sector are play- ing an essential role in meeting the state’s climate and clean energy agenda under Governor Cuomo’s leadership.” “Reducing our climate foot- print is crucial in the fight against climate change and carbon neutrality is a tool that can help achieve a healthier and more sustainable environ- ment for all,” said Lindsay Robbins director, strategic alignment and implemen- tation at the Natural Re- sources Defense Council (NRDC) . “CPC’s commitment to carbon neutral operations is a great example of their leadership in sustainability efforts in the field of affordable housing.” CPC retained EcoAct , a re- spected international sustain- ability consultancy, to help develop and implement its carbon neutral strategy. CPC will achieve carbon neutral operations through a three- pronged approach. First, CPC will complete a Greenhouse Gas Assessment (also known as a “carbon footprint”) annu- ally to measure and track total emissions for Scope 1, Scope 2 and select aspects of Scope 3. Based on the results of the first carbon footprint, com- pleted in 2018, CPC has devel- oped an ambitious reduction plan to eliminate 100 percent of emissions associated with the organization’s electricity consumption by purchasing electricity exclusively sourced from renewable sources, and eliminating or mitigating waste produced in day-to-day operations. 

EW YORK CITY, NY — The Commu- nity Preservation

C o r p o r a - tion (CPC) , a nonprof i t a f f o r d a b l e housing and c ommun i t y r e v i t a l i z a - tion finance c o m p a n y , announced it

Rafael Cestero

has committed to attaining car- bon neutral operations during the 2020 calendar year. CPC is one of the first real estate nonprofits to set such an ambi - tious carbon reduction target

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