About BerkshireTHRIVE

At Berkshire we increase operational efficiencies, mitigate risks, and reduce our footprint through energy efficiency, water conservation, and recycling programs.¹

 

Our ESG Strategies

The BerkshireTHRIVE environmental, social, and governance (ESG) program consists of an integrated set of strategies to monitor, track, and enhance our real estate performance, focused on the following:
Berkshire Residential Investments

Our Communities

Enhancing resident satisfaction, attraction, and retention

Berkshire Residential Investments

Our Commitment

Improving our ESG performance and sharing our accomplishments with stakeholders

Berkshire Residential Investments

Our Impact

Driving operational efficiencies, mitigating risks, reducing our footprint, and creating long term value

Berkshire Residential Investments

Our Team

Curating a uniquely passionate and positive team member culture, making Berkshire an industry employer of choice

Corporate Policies

Social Responsibility

Remain an integral part of the social fabric of our communities and neighborhoods and promote the well-being of our team members. Examples may include:

  • Promote team member community outreach activities through BerkshireGIVES
  • Provide opportunities for professional growth
  • Encourage team member health and wellness through comprehensive benefits, wellness events, and education sessions

Culture of Inclusion

Foster a company culture that welcomes and supports people with diverse backgrounds, allowing our team to fully utilize talents to provide exceptional service to our clients. Examples may include:

  • Implement diversity and inclusion initiatives throughout recruitment, training, and employee development
  • Encourage work-life balance
  • Recognize team member achievements
  • Support continuing education
  • Distribute culture and engagement surveys

Corporate Operations Sustainability Initiatives

Reduce our environmental footprint and increase the sustainability of corporate office operations. Examples may include:

  • Conserve energy in office operations
  • Reduce waste production (paper usage)
  • Support alternative transportation efforts
  • Full adoption of virtual meeting platform to enhance productivity and reduce travel

Equity Property-Level Policies

Energy Efficiency

Reduce community energy consumption, greenhouse gas emissions, and associated expenses. Examples may include:

  • Track energy consumption in ENERGY STAR® Portfolio Manager® for all communities
  • Apply operational energy management best practices
  • Use energy efficient products and appliances (ENERGY STAR certified, smart thermostats)

Water Conservation

Reduce indoor and outdoor water consumption and associated expenses. Examples may include:

  • Track water consumption in ENERGY STAR Portfolio Manager for all communities
  • Install EPA WaterSense labeled products and low flow fixtures
  • Implement operational water efficiency best practices

Waste Management

Reduce use of raw materials, promote the reuse of existing materials, and limit amount of materials allocated to landfill. Examples may include:

  • Track waste production and recycling rates in ENERGY STAR Portfolio Manager for all communities
  • Execute waste management best practices
  • Strive to purchase recycled and/or zero waste materials

Transportation

Reduce fossil fuel consumption by investing in real estate in urban and suburban locations near a variety of transportation options. Examples may include:

  • Track transportation key performance indicators
  • Encourage residents to use alternative forms of transportation
  • Provide alternative transportation options at our communities

Climate Risk and Resilience

Formalize Berkshire’s approach to mitigating physical and transitional climate risk during due diligence and operations. Examples may include:

  • Conduct property condition and climate risk assessments during due diligence
  • Review insurance coverage and hazard modeling for each property annually
  • Conduct regular climate risk assessments on GRESB funds
  • Implement disaster recovery plans

Resident Engagement and Wellness

Enhance resident attraction, satisfaction, and retention. Examples may include:

  • Purchase environmentally and health-friendly maintenance materials
  • Display sustainability certifications
  • Educate residents about sustainable building attributes
  • Distribute resident satisfaction surveys

Associated Policies

Sustainable Lending

Integrate ESG best practices into our lending and debt investment processes including origination, due diligence, approval, and portfolio monitoring. Examples may include:

  • Evaluation of asset-level ESG attributes
  • Borrower survey of ESG practices
  • ESG incorporation into the loan approval process
  • Climate risk assessment
  • Industry engagement

Responsible Contracting

Conduct business in an ethical manner through guidance of Berkshire’s internal Responsible Contractor Policy for the qualification of responsible contractors providing property-level support and outlining expectations and overall business standards for contractors and suppliers as reflected within our Responsible Contractor Code of Conduct. Examples may include:

  • Fair labor standards
  • Adherence to employment laws
  • Compliance with confidentiality and privacy laws
  • Operation in accordance with business ethics standards
  • Payment of taxes and maintenance of business records

Development ESG Guidelines

Incorporate design strategies that support our ESG activities while requiring JV partners to abide by all applicable codes and regulations. Examples may include:

  • Encourage the selection and installation of building equipment, materials, and amenities that are efficient and promote occupant health and wellness
  • Seek development locations in close proximity to jobs and conveniences with a priority placed on walkable or transit-oriented sites
  • Obtain sustainability certifications where feasible

Our Partnerships

We have partnered with internationally-recognized organizations to connect with industry experts, expand our resources and share our knowledge and best practices.

GRESB

GRESB assesses the sustainability performance of real estate and infrastructure portfolios and assets worldwide. Berkshire is a member of GRESB and participates in the GRESB Real Estate Assessment on an annual basis.

ENERGY STAR Partner

With this partnership Berkshire joins ENERGY STAR as a Partner, and makes a fundamental commitment to help protect the environment through the continuous improvement of our energy performance. We believe that an organization-wide energy management approach will help enhance our financial health and aid in preserving the environment for future generations.

Better Buildings

Better Buildings is an initiative of the U.S. Department of Energy (DOE) designed to improve the lives of the American people by driving leadership in energy innovation. Through Better Buildings, DOE partners with leaders in the public and private sectors to make the nation’s homes, commercial buildings and industrial plants more energy efficient by accelerating investment and sharing of successful best practices.

U.S. Green Building Council

Berkshire is a Silver Level member of the U.S. Green Building Council. The U.S. Green Building Council is committed to a sustainable, prosperous future through LEED, the leading program for green buildings and communities worldwide.

Urban Land Institute

The Urban Land Institute provides leadership in the responsible use of land and in creating and sustaining thriving communities worldwide.

Our BerkshireTHRIVE Scorecard¹

Our commitment to sustainability and positive societal impact enhances resident satisfaction, attraction, and retention.

  • Berkshire Residential Investments

    50

    average walk score
  • Berkshire Residential Investments

    52

    average bike score
  • Berkshire Residential Investments

    33

    average transit score
  • Berkshire Residential Investments

    4.2

    average resident satisfaction score out of five
  • Berkshire Residential Investments

    37

    Green certified properties

View the report here

 

Our Team

The BerkshireThrive team includes representatives from each area of the firm, subject to the approval of the Chief Executive Officer, including the following:

  • Portfolio Management
  • Property Operations
  • Investments
  • Portfolio Reporting & Analytics
  • Human Resources
  • National Real Estate Service
  • Construction & Development Resources
  • Training & Education
  • Legal, Compliance & Risk Management
  • Business Development
  • Information Technology
  • Research

Footnotes

1 The BerkshireTHRIVE program applies to wholly-owned and managed multifamily equity assets unless otherwise mentioned, such as debt investing or corporate ESG efforts. Properties in funds undergoing the process of liquidation, under third-party management, or with joint venture restrictions are not included in the program. Energy and greenhouse gas data includes a combination of whole building and common area electricity, natural gas, and fuel consumption. Water and waste data include whole-building consumption for nearly all properties. Baseline is 2015 for most properties, but may vary depending on acquisition or stabilization date.