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To learn more about our ESG initiatives, read our most recent ESG report:

Message from the President and CEO

I am pleased to share CT REIT’s 2024 Environmental, Social, and Governance (ESG) report with you, detailing our progress, achievements, and future goals as we continue to implement our ESG strategy.

In 2024, we reframed our ESG strategy to focus on creating sustainable outcomes for stakeholders by striving to operate a business that is climate resilient, socially responsible, and, of course, well-governed. Our prioritization of resilience reflects our commitment to adapting the REIT’s business to a changing climate and the need to minimize our impact. One example of how we are prioritizing resilience is our newly announced development of CTC’s first net-zero-ready store in Kelowna, British Columbia. This store is based on CTC’s net-zero-ready prototype which has an energy efficient design and is expected to open in late 2025.

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CT ceo

Kevin Salsberg

President and
Chief Executive Officer

2024 ESG Highlights

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Operational Excellence

Our multi-tenant retail property at 1025 Lake Shore Boulevard East in Toronto, Ontario, was recognized for operational best practices and excellence, earning the BOMA 360 Performance Program designation, as well as both the regional and national “The Outstanding Building of the Year” (“TOBY”) Awards in the Open-Air Retail category

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Improving Our Ability to Measure

We implemented a new ESG data management system to consolidate our ESG data

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Supporting Communities

We donated $100,000 to Jumpstart in 2024 to support the construction of two inclusive playgrounds, the Pawâtêtân court in Saskatoon, Saskatchewan, and a playground at Lions Park in Grande Prairie, Alberta

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DIB Training

CT REIT’s executive team completed CTC’s Diversity, Inclusion and Belonging (“DIB”) Level-UP Course throughout 2024 with the full team completing the course by Q1 2025, covering foundational concepts and practices related to DIB, and tools for bringing these practices to CT REIT

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Refining our ESG Strategy

We reframed the ESG pillar of our Strategic Plan to focus on creating sustainable outcomes for stakeholders, and to outline our priorities including climate resilience

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Recognition

We were included in The Globe & Mail’s Women Lead Here List for the first time in March 2024

CT REIT’S ESG JOURNEY TIMELINE

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  • CT REIT’s Initial Public Offering occurs, with strong governance practices in place.

  • Acquired 1.4 million square foot Bolton Distribution Centre. Built with many ground-breaking sustainable features, the state-of-the-art facility achieved LEED Gold certification in 2018 by the Canada Green Building Council.

  • Completed exterior LED retrofits at over 90% of CT REIT-owned Properties between 2017 and 2022.

  • Formed cross-functional Sustainability Committee, comprised of senior leaders from CT REIT and CTC.

  • Supported HVAC motor retrofits at the majority of the Properties in our portfolio between 2020 and 2022.

  • Conducted ESG Materiality Assessment.

  • Conducted physical Climate Risk Assessment.

  • Published inaugural ESG Report outlining our 2021 activities.

  • Donated to support Jumpstart’s development of a multi-sport court in Welland, Ontario.

  • Completed construction of our Net-Zero Distribution Centre, which received the Zero Carbon Building – Design Standard certification from the Canada Green Building Council.

  • Adopted a Board Diversity Policy.

  • Adopted a Sustainable Investment Corporate Policy and Checklist.

  • Donated to support Jumpstart’s development of the Pawâtêtân court, an inclusive, universally accessible basketball facility in Saskatoon, Saskatchewan.

  • Received two grants in 2024 from Emissions Reduction Alberta to fund energy reduction measures and renewable technology at the Net-Zero Distribution Centre.

  • Participated in an enterprise-wide Climate Risk and Opportunity Assessment.

  • Updated the ESG pillar of CT REIT’s Strategic Plan, integrating findings from the Climate Risk and Opportunity Assessment.

  • Implemented a new ESG data management system.

  • Donated to support the development of an inclusive playground at Lions Park in Grande Prairie, Alberta.

  • Finalizing an initial decarbonization plan and assessing potential targets to guide our GHG emissions reduction efforts.

  • Working to refine our understanding of climate-related risks and opportunities and integrate same into decision-making.

  • Updating the mandates and membership of our cross-functional and internal management Sustainability Committees to improve collaboration across CT REIT business units and with our primary tenant, with the goal of accelerating progress on our ESG Plan.

  • Continuing to advance our ESG Plan and prepare for compliance with mandatory reporting requirements.

Our Approach to ESG

At CT REIT, we focus on creating sustainable outcomes for stakeholders by striving to operate a business that is climate resilient, socially responsible, and well-governed. ESG is a critical pillar of our strategy reflecting our commitment to adapting the REIT’s business to a changing climate while working to minimize our environmental impact, supporting our employees, tenants, and the communities in which we operate, and maintaining policies and processes that manage our key risks and opportunities.

In developing and executing our strategy, we consider nine priority ESG topics identified as most impactful to the REIT’s business and relevant to the REIT’s stakeholders: Climate Change, Operational Efficiency, Sustainable Building Design, Community Impact, DIB, Talent & Culture, Business Ethics, Corporate Governance & Risk Management, and Privacy & Data Security.

Our strategy is accompanied by an ESG plan with action items supporting our priorities, focused on ESG data governance and preparation for mandatory climate reporting. As we progress along our ESG journey, we expect that our ESG plan will continue to evolve.

Strategic Pillar 

Creating Sustainable Outcomes for Stakeholders
Category

Environmental

Social

Governance

Guiding Principles

Climate resilient business

Socially responsible business

Well-governed business

Priority ESG Topics

  • Climate Change

  • Sustainable Building Design 

  • Operational Efficiency

  • Community Impact

  • Diversity, Inclusion & Belonging 

  • Talent & Culture 

  • Corporate Governance & Risk Management 

  • Business Ethics

  • Privacy & Data Security 
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Land Acknowledgement

Long before Canada was a country, strong nations and cultures existed here – and they continue to exist.

The lands on which CT REIT operates, in what is currently known as Canada, have been the site of human activity for approximately 15,000 years. Today, these lands and lakes continue to be home to many First Nations, Inuit and Métis communities from across Turtle Island, also known as North America.

Our head office, located in what is currently known as Toronto, is situated on the traditional territory of the Anishinaabeg, Huron-Wendat and the Haudenosaunee Nations. This location is covered by Treaty 13, signed with the Mississaugas of the Credit, and the Williams Treaties, signed with multiple Mississauga and Chippewa bands. We are grateful that we can live and work here, and we are committed to building and sustaining a relationship with Indigenous peoples based on respect, dignity, trust and cooperation.

At CT REIT, we know that land acknowledgements mark a small but important step in the journey of confronting the truth and working towards reconciliation with Indigenous peoples. We are committed to acknowledging the truth and advancing reconciliation.

Archived ESG Reports