January 2022
33
Green
ULI Chair’s Fund Launched
Boston Energy Facilities Go Emissions-Free
Boston – Vicinity Energy, owner of a portfolio of district energy systems, has entered into an agreement with energy provider Constellation, to purchase Emission-Free Energy Certificates (EFECs) to match 100% of its annual Boston-Cambridge electricity use. With this agreement, the company has transitioned to purchasing 100% emissions-free electricity, eliminating 3,132 metric tons of carbon emissions associated with the company’s electricity use annually. Vicinity has invested more than $110 million in a series of infrastructure projects to improve efficiencies and reduce environmental impacts in Boston and Cambridge. By implementing a cleaner energy mix and continuously investing in the city’s infrastructure to reduce carbon impacts, Vicinity reduces greenhouse gas emissions in Boston-Cambridge by over 165,000 tons annually, the equivalent
of removing 36,000 cars from the road each year. “This is another step forward in our goal to reach net zero carbon emissions,” said Bill DiCroce, CEO and president of Vicinity Energy. This announcement is one of many sustainability moves by Vicinity this year, including plans to electrify its Boston district energy steam facilities and its novel use of biogenic fuels in its operations. EFECs represent the emissions-free attributes of generating sources that do not directly emit greenhouse gases, such as sulfur dioxide, nitrogen oxide, or carbon dioxide. The EFECs purchased by Vicinity Energy are sourced from facilities located in the PJM Interconnection grid territory. EFECs are tracked and reported through PJM Environmental Information Services’ Generation Attribute Tracking System (GATS).
Washington – Three longtime Urban Land Institute (ULI) leaders have joined together to make a total of $17 million in donations to launch the ULI Chair’s Fund. Douglas D. Douglas D. Abbey Abbey, chairman of Swift Real Estate Partners; James D. Klingbeil, founder and CEO emeritus of Klingbeil Capital Management; and Thomas W. Toomey, chairman and CEO of UDR, Inc.; have created the unrestricted fund to give ULI the flexibility to respond quickly to new opportunities as it delivers its mission of shaping the future of the built environment for transformative impact in communities worldwide. The fund will provide ULI with the resources to tackle three new global priorities: increasing housing attainability, achieving net-zero emissions in the real estate sector, and educating the next generation of diverse real estate leaders. “The idea with unrestricted gifts is that ULI decides where the money should go, and how it can be best used to innovate, pivot and respond to needs,” explained
James D. Klingbeil
Thomas W. Toomey
Klingbeil, former ULI president and ULI Foundation chair, whose Klingbeil Family Foundation is making a $7 million contribution. “What we’re trying to do here as the three founding donors is to help create something that will get larger and be able to respond to the needs of ULI as it goes forward.” Toomey, past ULI global chairman, and Abbey, former ULI Foundation chairman, are making $5 million contributions each. The gifts establish them as members of the ULI Foundation’s Marcus Vitruvius Society. Abbey, Klingbeil, and Toomey say they hope other members will follow their example and contribute to the ULI Chair’s Fund. Klingbeil urged donors to consider including bequests to ULI in their estate planning.
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