GlobalData offers a comprehensive analysis of Hudson Pacific Properties, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Hudson Pacific Properties‘ ESG performance. GlobalData’s company profile on Hudson Pacific Properties offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Hudson Pacific Properties' climate strategy centers around a science-based target to achieve a 50% reduction in absolute operational GHG emissions by 2030, based on a 2018 baseline. This ambitious target, validated by the Science-Based Targets Initiative, aligns with a 1.5⁰C global warming scenario and comes after its successful transition to 100% carbon-neutral operations in 2020. As of year-end 2022, the company has already reduced absolute Scope 1 and 2 GHG emissions by approximately 14% from the 2018 baseline. Hudson Pacific's latest filings mentioned the keywords ‘Emissions' and ‘Carbon’ most number of times in relation to 'Net Zero'.
In 2022, the company's scope 1 emissions were 13,737 metric tons of carbon dioxide equivalent (mtCO2e), while its location based scope 2 emissions were 42,677 mtCO2e. Scope 3 emissions were reported at 300,820 metric tons. The company has taken steps to reduce its emissions, including using renewable energy and purchasing carbon credits. Hudson Pacific Properties has also invested in energy-efficient technologies and implemented waste diversion programs.
The company has purchased and retired Renewable Energy Credits (RECs) to offset its remaining electricity consumption from non-renewable sources. It has also calculated its Adjusted "Net Zero Operations" GHG Emissions by subtracting carbon credits purchased during the reporting period from its operational GHG emissions. The company has integrated building energy management considerations into its property investment analysis and operational strategy. Hudson Pacific Properties has also implemented waste diversion programs to reduce its waste generation. It aims to achieve net zero waste (i.e. landfill diversion rate of 90% or higher) across all operations by 2030.
In conclusion, Hudson Pacific Properties has adopted a science-based target to significantly reduce absolute operational GHG emissions by 2030, aligning with the 1.5⁰C global warming scenario, after achieving carbon-neutrality in 2020. Their commitment to sustainable practices is evident through their ongoing efforts to reduce emissions and prioritize green initiatives such as its waste diversion programs.