| www.libertyproperty.com |
|
| Share Price (3/15/07): | $49.69 |
| OVERVIEW: | |
| Market Value (3/15/07): | $4.5 BIL |
| Revenue (2006): | $0.7 BIL |
| Employees: | 470 |
| Return on Equity 2006: | 8.6% |
| HIP PRACTICES: | |
| Vision: | "Create environments that enhance the lives of people that use them:" Two-thirds of new developments are LEED-certifiable; property management includes green cleaning, low toxin materials and paints, recycling, energy efficiency and audits. |
| Metrics: | Environmental savings quantifiable; health impacts still emerging; systematically track employee and customer satisfaction. |
| Financials: | #1 rated by tenants among same-size landlords three years in a row. High tenant satisfaction translates into low turnover, increased space-expansion rates and higher-value leases -- from innovative energy and building practices in 65 million sq. ft. of office and industrial space in 20 markets across US and UK. Employees and young, prospective talent motivated by and excited about "green" vision. |
| Accountability: | CEO advocates "green buildings are higher performance and drives productivity of tenants' employees" in public speeches. All staff types (energy auditor, property manager, developer, plumber) educate and encourage tenants on benefits of energy and environmental choices. Leader in US Green Building Council's certification and standards (Leadership in Energy and Environmental Design, or LEED) initiatives. |
| Decision-Making: | Best practices are shared monthly among national property managers, speeding local learning -- including recycling ceiling and floor tiles, and low-toxin paints. |
| HIP OUTCOMES: | |
| Health: |
Sustainable choices and green practices shown in external studies to boost physical and mental health of both tenants and maintenance workers. "Green" warehouse opening in 2007, to benefit workers conditions and lower absenteeism. |
| Wealth: |
Up to three percent (3%) higher construction expense for sustainable buildings yields 30% lower annual utility costs for customers. |
| Earth: |
Waterless urinals "don't smell" and save 500,000 gallons of water at Plaza at PPL Center in Allentown, Penn. One Crescent Center complex (Philadelphia) recycled 95% of construction waste, reduced 40% CO2 emissions during construction, 30% of building materials are recycled content, and heating/air systems to use 50% less energy and 30% less water use of comparable buildings. |
| Equality: |
Increased women-, minority-, and disability-owned businesses last year, by canvassing community for referrals and recommendations -- including for 57-story Comcast Center in Philadelphia. |
| WHAT'S NEXT: | |
| Practices: | Accumulating Intellectual property from "good, better and best" choices for materials and practices in multiple tenant types, geographies and building types. |
| Outcomes: | Early bets on "green" construction without client commitments could pay off big in higher lease rates, fuller capacity utilizations and hence profitability. |
| OTHER RATINGS: | |
| KLD:Companies are rated from negative (0) to positive (6) in seven areas. | Community: 2.5 Governance: 2.9 Diversity: 2.4 Employees: 3.2 Environment: 4.0 Human Rights: 3.4 Product: 3.6 Included in KLD Indices for: Global Climate 100, Broad Market Social Index, Dividend Achievers Social Index |
| RESOURCES: | |
| Sustainability or CSR Report: | Corporate Governance |
| Annual Report: | Annual Reports |
--Ruthie Ackerman and R. Paul Herman
