Impact

PCI Developments is proud to share the highlights of our 2023 Impact Report.

In 2023, we created and formalized a framework for PCI’s Environmental, Social and Governance (ESG) initiatives, including the establishment of key metrics, priority actions and key performance indicators to ensure our approach is both measurable and impactful.

Our commitment to ESG principles is at the core of our identity as a responsible, community-minded and forward-looking real estate company. We believe that sustainable development is not only a moral imperative but also a strategic advantage, positioning us as leaders in responsible real estate development.

Defining our impact is about demonstrating our values in action, and being accountable to our community, employees and partners.

Impact Report 2023 Highlights

We’re pleased to note some of the highlights from our Impact Report for 2023.

EMISSIONS REDUCTION

As part of our impact assessment process, PCI has benchmarked our greenhouse gas (GHG) emissions to better understand how we can accelerate decarbonization in every property we build, manage and own. The work has already begun, whether it’s including the electrification of new parking stalls in our new buildings, making it easier for our employees and tenants to travel by transit, or initiating a zero-waste strategy for our head office. Some of our benchmarked data include:

Our goal is to accelerate our pace of change in the future, to make it easier for our tenants, customers and fellow community members to reduce their own carbon emissions, as well.

CLIMATE ADAPTATION

Climate change considerations add a crucial layer to every long-term business decision PCI makes. For us, that means we need to consider future climate risks when designing and building, and ensure that our acquisition and development processes consider building design for protection against extreme weather (flooding and heat domes), geographic events (earthquakes) and long-term geographic changes (rising sea levels). We’re already running climate models to assess climate adaptation needs for our most recent land acquisitions.

CASE STUDY

South Granville Station development at West Broadway & Granville Street, Vancouver

OUR PEOPLE

Hiring remains very competitive in our sector, and PCI endeavours to set itself apart to attract and retain our industry’s best people. This includes actively promoting a diverse workplace that is representative of our communities, and creating a welcoming and inclusive environment for persons who have historically been underrepresented within business environments like ours, or have been subject to discrimination on the basis of identity or disability. That’s why we’re:

• Measuring employee engagement and satisfaction
• Protecting and promoting human, cultural and Indigenous rights awareness in our company, with our tenants, and within our supply chains
• Protecting worker safety on the job and investing in education

Our Customers and Community

We’ve long recognized that our success is intricately linked to the well-being of the individuals and neighbourhoods we serve. ESG is not just a business strategy for PCI; it’s a genuine reflection of our dedication to fostering positive relationships with our customers, communities and team. From affordable housing initiatives, to daycare spaces and green spaces that encourage social interaction, to decolonization strategies, we are committed to crafting environments that nurture a strong sense of community, and to making investments in the broader community.

CHARITIES

PCI is also dedicated to supporting and investing in the communities where we live and work. We’re proud to support remarkable community organizations and agencies that are making life better for people in Metro Vancouver and BC, through donations, volunteer and promotional support. We believe our support can be particularly impactful in working with local organizations with committed, outstanding people addressing needs consistent with our values, in particular child and seniors care, education, food security, inclusivity and youth activities. Outstanding organizations that we are proudly supporting include:

PCI’s approach to Indigenous relations, in response to the TRC’s Call to Action #92 and with the guidance of Indigenous advisors, is to establish genuine connections with local nations, and build meaningful and respectful relationships over time.

At King George Hub, this has included commissioning of the Stolen Sisters mural by young Indigenous artists and students from Surrey School District’s Wraparound Program, and engagement with local First Nations and urban Indigenous youth on the discovery and commemoration of culturally modified trees.

As part of our South Flats projects in Vancouver, PCI has co-developed an Indigenous Advisory Committee to create opportunities to integrate Indigenous knowledge into these developments. Community engagement activities include planning for a Cultural Ribbon to showcase Indigenous knowledge and history in the area through landscaping, art, lighting and other historical elements; workshops for partners, suppliers and PCI staff on UNDRIP and the TRC; planning of a panel discussion on Indigenous partnerships in 2024; plans to create an Indigenous Intern position for the project in 2024; and inclusive approach to procurement.

GOVERNANCE

PCI’s impact assessment framework is an extension of our core focus on governance and integrity. PCI is committed to a robust approach to our governance practices and acknowledge and greatly appreciate our fiduciary responsibility to our communities, partners and employees. We are particularly proud of our partnership relationships with some of Canada’s most well-respected institutional and private real estate investors, some of which we’ve worked with for over 20 years.

Our impact assessment governance focus is on two key areas: business ethics (that is, PCI’s corporate practices to support fair competition and to identify and avoid corruption) and cybersecurity and customer privacy.

MEASUREMENT, CHECKS AND VERIFICATION

PCI has taken steps to assign departmental and personnel responsibility to every aspect of our company’s approach to measuring our environmental, social and governance impact. The assigned tasks will be tracked on a shared platform and progress reports will be regularly reviewed to ensure we stay on track with our priority tasks.

LEARN MORE

PCI is committed to transparency and accountability in our impact initiatives. We understand this journey is a continuous one, and we are dedicated to evolving and improving our practices and infrastructure to ensure we meet and exceed the expectations of our Impact Partners and communities.

To learn more about how we’re defining our impact as a company in 2023 and in the years to come, please contact us at info@pci-group.com.