Hudson Pacific Properties Expands Sustainability Initiatives with Renewable Energy Agreement

09 Sep 2019

Hudson Pacific Properties, Inc. (NYSE: HPP) announced that all of its electricity consumption is now carbon-neutral.

In a three-year agreement with Calpine Energy Solutions, LLC, Hudson Pacific has purchased the environmental attributes associated with 577,000 megawatt-hours (MWh) from Horse Hollow III Wind Farm in Wingate, Texas. Hudson Pacific expects this deal will offset its greenhouse gas (GHG) emissions by approximately 121,500 metric tons of CO2 over the next three years, effectively all anticipated electricity-generated GHG emissions from properties the company owns and manages. This includes 53 office and three studio properties, totaling more than 16.5 million square feet in Los Angeles, Silicon Valley, San Francisco, Seattle and Vancouver, B.C.

The agreement advances Hudson Pacific’s ongoing sustainability efforts, including investments in energy efficiency and on-site renewable energy, and underscores its long-term commitment to meet, if not exceed, its GHG emissions reduction target of 15% by 2025.

Natalie Teear, Vice President, Sustainability and Social Impact, said: “Our investment in renewable energy delivers on our strategic approach to realize a range of short- and long-term benefits associated with reducing our environmental impact and increasing operational efficiencies throughout our portfolio. This is a significant step that brings us closer to our sustainability goals, and is perfectly aligned with current carbon neutrality policies within our core markets.”

Hudson Pacific | http://www.hudsonpacificproperties.com