2020–2021
Building Economic Health in Communities Environmental, Social and Governance 2020-2021 Executive Summary
EQ Office ESG Executive Summary 2020-21
EQ’s Purpose: To build economic health in communities by regenerating urban spaces, preserving local culture and bringing humanity into our workplaces. At EQ Office, we invest beyond our square footage, by supporting the people, culture and communities that enrich our portfolio and enhance our business. We uphold our responsibility as both an organization and as individuals to provide access and opportunities for career growth, talent development and economic stability.
Rodel’s story is one of many at EQ that demonstrates how consistent support and training, combined with employee dedication, can create limitless opportunities for talent development. Our investment in people supports professionals at every stage of their career, cultivates an inclusive culture and contributes to thriving communities around the country.
Rodel Salvio, EQ’s Director of Engineering, is a leading example of our commitment to investing in people and their talents. Rodel began his career at EQ fifteen years ago as a building Engineer in Los Angeles and quickly became known for his work ethic and persistent willingness to go above and beyond. Whether he was needed for a building emergency or asked to travel last minute to evaluate a possible acquisition, his answer was always the same, “Whatever you need, chief.” Rodel’s dedication earned him a promotion to Chief Engineer and later a Director managing a large portfolio of buildings. Today, Rodel oversees engineering for 10 million square feet of property across the West Coast.
To expand the reach of our commitment, we have enhanced our partnership with YouthBuild USA, a global nonprofit that provides education, counseling and job skills training for opportunity youth between the ages of 16 and 24 who are neither in school nor employed. We launched an annual commitment to renovating YouthBuild’s community centers, starting with Compton, California in 2021. Our employees volunteer their time and talents throughout the year to YouthBuild. People are at the core of many foundational priorities and our broader Environmental, Social, and Governance approach here at EQ. We invite you to read highlights of success from our August 1, 2020 through July 31, 2021 ESG reporting period on the following pages. Forward in purpose,
Charlie Hobey Managing Director
Rodel Salvio, Director of Engineering. Photo credit Lisa Salvio.
EQ Office’s full 2020-21 ESG Report can be found here
Photo credit Chris Ozer.
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EQ Office ESG Executive Summary 2020-21
Reimagining a Compton YouthBuild Project We enhanced our partnership with YouthBuild with a commitment to transform the Compton YouthBuild training center into a space where generations can learn and grow. Our shared goal was to inspire participants, nurture their best work and help them discover new talents and opportunities. Our investment in the training center’s renovation ensured that Compton YouthBuild could sustain these opportunities for future generations of students. The project also gave young aspiring professionals real-world, hands-on learning experiences in commercial interior design and construction. We brought attention to detail and expertise into every aspect of the project with an eye for bringing the quality and longevity of commercial real estate to this talent training center. Overall, EQ and our partners contributed over $1.2M, 5,616 hours of labor and close to $196K of in-kind donations, including furniture and building supplies.
The Compton YouthBuild training center now embodies the organization’s purpose throughout their space from picnic tables to an updated culinary classroom that will stand the test of time. Sara Silva, Co-founder of Compton YouthBuild said,
“We never had a space that reflected the true way we feel, and now we actually do. How the space feels matters. It influences how long our young people are willing to stay.”
Sara Silva, Co-founder of Compton YouthBuild. Photo credit Myshalae Lyons.
More than 125 students per year will benefit from this transformed space for decades to come. Our project united many in a single purpose that will continue to shape our impact and action moving forward. We plan to reimagine one new YouthBuild building per year, ensuring that more opportunity youth feel inspired to do their best work.
Left photos: Before/After by Chris Ozer and Myshalae Lyons. Above (left to right): YouthBuild students with Compton YouthBuild Co-Executive Director Sara Silva, Compton Mayor Emma Sharif, Compton YouthBuild Co-Executive Director Kim Hughes, EQ Interim CEO Frank Campbell, Compton City Councilmember Lillie Darden, and EQ Director of Development Lisa Foyston. Photo credit Myshalae Lyons.
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EQ Office ESG Executive Summary 2020-21
EQ’s Progress to Two-Year Goals We set goals for environmental, social and governance issues material to EQ stakeholders, including EQ employees, tenants, investors, vendors and community members. Below are highlights of our progress to date; full reporting on our progress is available in our 2020-2021 ESG Report.
Electricity Usage - Reduce by 5% kWh (M)
Goal: 5% Reduction
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YoY Variance: 10%
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Water Consumption - Reduce by 5% Gallons (M)
YoY Variance: 2% Reduction
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1
1
0
0 2019-20 2020-21 (287,943,148) (260,286,124)
Goal: 5% Reduction
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75% 50%
0% 2019-20 2020-21 (20 Properties) (43 Properties)
Waste in Operations - Divert 45%
Waste in Construction - Divert 70%
2020-21: 32%
2020-21: 13 Properties 62% over goal
2019-20: 51,293
2020-21: $1,941,818 Total: $4,673,104
Vendor Diversity - 75% Inclusion Goal: 75% DEI standards utilized in vendor searches
2020-21: 50%
Goal 70% Diversion
Goal: 45% Diversion
Job Creation and Sustainment 10% more Jobs
2019-20: $2,731,286
Goal: $3,090,345
Clean Energy - Increase by 10%
25%
Goal: 8 Properties
Charitable Contributions Increase by 25%
Tracking to target
100%
2019-20 2020-21 (284,432,535) (278,551,528)
Composting - 10% more Properties
Exceeded
Professional Development & Job Training for Community 50% more Individuals 2019-20: 682
Goal: 56,442
2020-21: 144,395 Total: 195,688 Jobs
Goal: 1,023 Individuals
2020-21: 26,484 Total: 27,166
ESG Tracking & Reporting - 100%
Satisfaction Rate - 85% 2020-21: 81%
Goal: 100% Reporting
2020-21: 81% Utilization
EQ Office
Goal: 85% Favorability
2020-21: 100% Reporting
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EQ Office ESG Executive Summary 2020-21
Preserving Local Culture – Social
Expanding Job Creation, Skills Training, and Tenant Engagement Efforts In partnership with nonprofits operating on the ground, we have extended opportunities to tenants and vendor partners, particularly those with limited resources and infrastructure to access ESG opportunities. Supporting our tenant and partners’ ESG goals is an important amenity at EQ. Our team members and partners invested 11,534 hours volunteering, including taking students on building tours while giving them hands-on job exposure. For example, YouthBuild student, Maria Diaz served as a Construction Assistant for the Compton YouthBuild repositioning project. Sean Walsh, Chief Engineer at Playa District mentored Maria throughout the project. Sean was so impressed by Maria’s constant curiosity and work ethic that he advocated with Senior Property Manager Elizabeth Salazar to hire her at EQ. Today, Maria Diaz works at Playa District as an Engineering Maintenance Attendant.
We set a goal to increase job training and professional development by 50% or 1,023 more individuals. We also committed to creating 10% more new jobs in our communities to reach 56,222 jobs created. We surpassed our milestones by offering 26,484 people job training with the help of our social impact partners, YouthBuild and CareerVillage. We also significantly increased new jobs in our communities by surpassing our 10% goal to reach 56,442 jobs, by creating 51,293 jobs in 2019-2020 and 144,395 in 2020-2021. Our teams also increased community engagement events by 157% across properties when compared to 2019-2020, in addition to hosting portfolio-wide education and engagement experiences. Katrina Jones, General Manager summarized,
“I am proud to work for a company that is willing to put action behind their commitments . . . in telling my friends about what we are doing, they all say ‘I want to come work for your company.’ They can’t believe it!” Maria Diaz, YouthBuild alumnus and EQ Office employee together with Sean Walsh, General Manager, Playa District. Photo credit Myshalae Lyons.
EQ Office
Katrina Jones, General Manager. Photo credit Chip Rountree.
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EQ Office ESG Executive Summary 2020-21
Bringing Humanity into our Workplaces - Governance
Celebrating Diversity Every Day of the Year Our Diversity, Equity and Inclusion Task Force includes volunteers representing all levels of management in our company. With skillful planning, they developed a full calendar of events that celebrate our diverse heritages and integrated it into EQ’s programming and within our larger community. In addition to circulating monthly resources and education, this team introduced new events for Women’s History Month, LGBTQ+ Pride Month, Hispanic Heritage Month and Black History Month. During Black History Month in February, the DEI Task Force steered the organization through meaningful black history exploration and engagement. In 2021, our theme was The Black Family: Representation, Identity and Diversity.
Dr. Ibram X. Kendi Photo: Jati Lindsay
Journalist A’Lelia Bundles Photo: CSUF News Photos
In honor of Dr. Martin Luther King, Jr., we hosted a Community Circle and listened to Dr. King’s “I Have a Dream” speech. We also supported black-owned businesses on corporate, property-level and personal social media accounts. Many of us also attended an event with Dr. Ibram X. Kendi, who is the Andrew W. Mellon Professor in the Humanities at Boston University and the Founding Director of the BU Center for Antiracist Research. We also shared extensive learning materials and opportunities to get involved in celebrating and supporting Black communities and businesses with our teams.
In June, we dedicated a week to learn more about Juneteenth through education, celebration and service through African American history and allyship. We welcomed expert speakers in their field and invited the Blackstone organization to learn and grow with us. EQ recognized June 18 as a new annual company holiday in commemoration of Juneteenth, to honor the anniversary of the ending of slavery in the United States. We have also invested in Diversity, Equity and Inclusion trainings and workshops for 2022. Blackstone recognized our contributions to the firm’s Diversity, Equity and Inclusion efforts, inviting EQ to sit on additional task forces.
EQ Office
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EQ Office ESG Executive Summary 2020-21
Regenerating Urban Spaces – Environmental
Championing Community Development Through Sustainability We ensure our buildings offer true economic value to the communities where they are located, serving a vital role by supporting art, providing public green gathering spaces and by sharing mutual interests for tourism. We have added over $69.2M in economic value to local neighborhoods and 73% of our buildings have public-access spaces that enrich the lives of many in our communities. As part of our public-access spaces, properties adopted 1.1 million bees who live in hives across six cities at twelve properties. These pollinators each have a two-mile pollination range within our local communities. With 22 hives, the bees have pollinated 153 square miles, enriching local biodiversity. Our Alvéole beekeepers hosted 30 in-person or remote workshops this year to build awareness about beekeeping and honey-based products. Our beekeepers also harvested 660 pounds of honey, producing 2,200 jars of local raw honey, which were distributed among our communities.
Left photo: Beehives at CANVAS. Right photo: Beekeeper and Marisol Olvera, Senior Property Manager at 350 N. Orleans. Photo credit Alvéole.
EQ Office
In addition, we prioritized sourcing local materials in our capital improvement projects and strived to support contractors that aligned with EQ’s commitment to sustainability. We hired 135 green vendors for construction projects, and re-purposed materials like ceiling tiles, door frames and furniture wherever possible. In one space, the team was able to repurpose $190,500 of materials that would have ended up in a landfill.
YouthBuild student re-purposing ceiling tiles from tenant suite at Playa District. Photo credit Chip Rountree.
The COVID-19 pandemic brought about disruption that prompted new policies in health and wellness, as well as a creative new approach to the use of space in our portfolio. In addition to investing in air quality testing and pursuing WELL HSR Certification for all common areas, we have made extra efforts to open up unused space for public art projects to offer safe, socially distanced activities for our neighbors, which also supports our retailers and food and beverage partners. All of these pieces of art ensure that we weave creativity and community into the human experiences of our spaces and our local neighborhoods.
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EQ builds economic health in communities by regenerating urban spaces, preserving local culture and bringing humanity into our workplaces. By living our purpose every day, we create tangible economic value for our tenants, our partners and the communities in which we operate.
EQ Office 233 South Wacker Drive Suite 4700 Chicago, IL 60606 www.eqoffice.com
For inquiries, please contact EQimpact@eqoffice.com
For full access to EQ’s 2020-2021 ESG Report, click here