Environmental, Social and Governance (ESG)

In 2018, Allied made a commitment to submit formally to independent ESG scrutiny by 2020. The most important single step in that regard was to obtain a GRESB Real Estate Assessment and to provide an ESG Report, which Allied did in November and December of last year. Allied’s GRESB score was 64, recognized as a “strong first-year showing”. In addition to strengths, the assessment identified clear opportunities for improvement in Allied’s ESG practices and disclosure.

Allied’s second annual GRESB score was 80, representing material progress in multiple areas over the initial assessment. Over the course of 2021, Allied also completed its first formal ESG Strategy, which set goals and targets for Allied’s ESG priorities. Allied also aligned its Second Annual ESG Report with (i) the Global Reporting Initiative (GRI) and (ii) the Sustainability Accounting Standards Board (SASB) Real Estate Standard. Allied’s Third Annual ESG Report, scheduled for release in mid-2022, will also outline Allied’s progress in adopting the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.

Allied’s Board and Management are committed to making Allied’s approach to ESG more manifest, deliberate and measurable. Allied has always believed that submitting to informed scrutiny will make it a better and more successful business, and formally submitting to ESG scrutiny is no exception in this regard.

Notable Initiatives

SECOND ANNUAL ESG REPORT On October 15, 2021, Allied released its Second Annual ESG Report. The Report outlines its ESG Strategy and describes its 2020 ESG performance. Read the most recent ESG Report.

GRESB ASSESSMENT In 2021, Allied obtained a GRESB score of 80, 16 points higher than its 2020 score of 64, representing material progress in multiple areas over the initial assessment. Allied intends to submit to GRESB on an annual basis.

GREEN FINANCING FRAMEWORK In February 2021, Allied released its Green Financing Framework under which it issues green bonds, green loans and/or other financial instruments. Over the course of 2021, Allied issued $1.1 billion in green bonds. Read more about Allied’s Green Financing Framework and Sustainalytics’ Second-Party Opinion.

ALLIED MUSIC CENTRE On December 8, 2020, Massey Hall announced that Allied made a landmark contribution to the Massey Hall Revitalization. This transformative support expands the project’s original scope and introduces Canada’s premiere multi-purpose performance facility, Allied Music Centre. This partnership with Massey Hall will enable Allied to contribute meaningfully to its communities over an extended period. It will also enrich the experience of the many creative organizations and people who use Allied’s urban workspace across the country. Read more about Allied Music Centre.

Governance Framework

DECLARATION OF TRUST, MANDATES & POLICIES Allied’s framework for governance balances the interests of stakeholders across the company. Our key governance documents are set out below.

Reports & Publications

Allied prioritizes disclosure of our ESG performance in a manner that is transparent, accurate and consistent. To do so, we have issued several reports and publications. Click here to access our ESG Reports & Publications.