As one of the nation's largest institutional real estate investors, TIAA-CREF's investments include more than 42 million square feet of Class A office space, 12,000 multifamily units, and 34 million square feet of retail properties. TIAA-CREF is receiving ENERGY STAR Sustained Excellence recognition for its dedication to superior energy management across its portfolio. Key 2011 accomplishments include:
· Benchmarking the energy and water use of 100 percent of its office, multifamily, and wholly owned retail portfolios in Portfolio Manager and working with these management teams to provide recommended energy and water efficiency measures and technical guidance and support for implementation.
· Reducing source energy intensity by more than 3 percent across its office, multifamily, and retail portfolios, including a 3.7 percent reduction in its office portfolio, a 3.3 percent reduction in its multifamily portfolio, and a 5.6 percent reduction in its retail portfolio.
· Raising the portfolio-wide average ENERGY STAR score of its office portfolio by 3 points in 2011, for a current score of 81. Since 2007, the firm has reduced the energy consumption of its office portfolio by 14.4 percent and saved $37 million in energy expenses.
· Earning 2011 ENERGY STAR certification for more than 60 percent of its office portfolio, for a total of 114 buildings that have earned certification one or more times since 1999.
· Raising awareness of the benefits of energy efficiency and ENERGY STAR among tenants, occupants, and building visitors by participating in the Change the World, Start with ENERGY STAR campaign and distributing 12,960 ENERGY STAR qualified CFLs. In total, the firm has distributed 296,960 CFL bulbs since 2008, which will save nearly 140 million kWh over the bulbs' lifetimes.
· Promoting ENERGY STAR throughout the organization and community through quarterly reports, communications with third-party property managers and building engineers, giveaways to tenants, participation in real estate industry groups, and partnerships with associations and nongovernmental organizations working to promote environmentally and socially responsible real estate investments.