Breakthrough Properties ESG Policy

Breakthrough Properties is committed to developing and operating properties that deliver enduring value to the companies who entrust us with their infrastructure and to the local communities around the world where our properties are located. As a global company developing life science projects, we have a responsibility to contribute to the development of vibrant, beautiful and environmentally sound communities.

We are committed to promoting positive environmental, social and corporate governance (ESG) practices, and intend to evolve our process and policies to meet the ongoing needs of our neighbors, clients, investors, and colleagues.

We seek to align with partner organizations who share our values and goals: build healthy communities, champion green initiatives, reduce our environmental impacts, and advance diversity and inclusion.

Scope

This ESG Policy applies to Breakthrough Properties globally, guiding management as it makes investment decisions and conducts its business. To achieve the commitments outlined in this policy, Breakthrough Properties has developed an ESG framework in alignment with ISO 14001, the internationally-recognized standard for environmental management, which requires the firm and our investment vehicles to:

• Establish roles, responsibilities, accountability, and resource allocation.
• Establish operational procedures to implement best practice ESG initiatives throughout day-to-day business activities.
• Work towards establishing specific, measurable, and time-dependent objectives and targets, which, alongside this policy, will be reviewed by senior management on a regular basis.
• Identify ESG-related risks and opportunities throughout the investment cycle.
• Ensure the continual improvement of ESG performance.</li >
• Be accountable to stakeholders, serving as evidence of ESG practices.

ESG Oversight

To deliver our ESG mission and strategy, we have established an ESG Taskforce to bring together senior-level representatives from all departments across the company. Tishman Speyer’s ESG team members also sit on the Taskforce, bringing their deep knowledge and experience in promoting ESG in real estate. The Taskforce meets regularly to define Breakthrough Properties’ ongoing ESG approach and priorities, to track and benchmark progress against our corporate targets, and to review and update our ESG governance.

Environmental Sustainability

As building developers and operators, we know that our portfolio’s construction and management must protect and enhance the physical environments in which we operate. The core of our environmental policies is to conduct business in accordance with applicable environmental laws and governmental directives and to minimize our environmental footprint whenever and wherever feasible. Furthermore, in response to our changing world, we must make our buildings resilient to the effects of warming while also promoting biodiversity and nature-based solutions. This entails the protection of existing habitats, as well as controlling pollution and use of resources.

In our physical assets, we commit to:

1. Promoting responsible consumption by monitoring energy, water and waste data and the associated greenhouse gas emissions.
2. Minimizing our impact on the environment and supporting the transition to sustainable cities by programmatically identifying and implementing innovative operational and mechanical strategies to continually improve resource efficiency and performance.
3. Managing the short-, mid- and long-term risks associated with changing regulatory, legislative and stakeholder requirements, as well as climate change resilience-related risks, including physical, social and transition risks.
4. Practicing sustainable procurement (including sourcing sustainable materials and products) and due diligence at both the operational level and for new acquisitions by embedding ESG requirement within operational processes and policies.

Net Zero

Breakthrough Properties has committed to achieve operational net zero carbon across our global real estate portfolio by 2050 or sooner. This goal is consistent with a maximum temperature rise of 1.5°C above pre-industrial temperatures and in line with the aims of the Paris Agreement.

Certifications and Standards

Breakthrough Properties strives to be a leader in sustainable development and property operations. Operating our businesses sustainably enhances the quality of life of every one of our clients and employees, and creates lasting value for our investors and communities. This ethos is reflected in our mission to certify all of our properties through recognized third-party certifications. We endeavor to certify all new developments to a minimum standard of LEED Gold, BREEAM Excellent, or local equivalent. With few exceptions, we endeavor to certify all eligible operating properties under the appropriate existing building rating system.

Efficiency

Efficiency has always been at the core of our business. Doing more with less allows us to reduce operating and capital expenses while minimizing our impact on the environment. Breakthrough Properties aims to reduce energy and water consumption and decrease waste production through better design, technology and sustainable operating procedures. Our integrated platform allows us to collaborate with peers, identify trends and share best practices across the globe, and to ensure that we remain at the forefront of industry standards, thus minimizing the carbon footprint of our portfolio.

Social Sustainability

We are committed to supporting our clients, employees and suppliers, and to delivering benefits to the communities in which we operate. We are proud of our culture, enabling diverse and collaborative creativity and innovation, facilitating the highest standards in research and development and championing transparency, integrity, and responsibility at every stage – all for the benefit of human health and well-being.

Health

Our commitment to sustainability ensures that our clients and employees work in healthy and productive environments. Through our innovative operating practices, education programs and outreach, we strive to create some of the healthiest and most desirable spaces to work.

Client Engagement

We are committed to working with our clients to maximize opportunities to collaborate on environmental issues within our buildings and our communities. We understand that in order to achieve impactful change we need to work hand in hand with our clients and occupiers. It is only with a strong partnership between Breakthrough Properties and our clients that we can achieve meaningful reductions in resource consumption in our buildings.

Professional Training and Development

Breakthrough Properties is committed to investing in the growth, development and well-being of our employees, as it is from within our ranks that we aim to develop the future senior management of our company. We deliver regular training to employees on ESG issues and work to enhance diversity within the senior levels of our management. This strategy, consisting of a combination of on-the-job training, internal and external training courses, helps ensure that all employees are able to reach their full potential.

Diversity, Equity, and Inclusion

As a signatory of the ILPA Diversity in Action Initiative, Breakthrough Properties has a long-term ambition regarding diversity, equity and inclusion (DEI) and is developing a DEI roadmap to guide and enhance those critical aspects of our company. We recognize our responsibility to facilitate and promote a diverse, equitable and inclusive environment for our people and support active listening, continuous learning, decisive action and an environment where speaking up is encouraged and championed. To deliver that environment, we commit to a vision:

• to proactively attract, promote and retain a diverse organization, creating pathways to provide opportunities for Black, Indigenous, People of Color and other underrepresented populations in the life science real estate industry;
• to implement effective practices that foster a diverse, equitable, inclusive and anti-racist work environment; and
• to create accountability systems within our company to share regular updates and track and measure our progress.

Community

At Breakthrough Properties, our deep-rooted philanthropic efforts are numerous, and our commitment to provide opportunities that encourage social growth through community involvement is at the core of every project. Our employees are the foundation of our community service initiatives, Breakthrough Cares. And, as individuals, they are also deeply committed to being active in their local communities including participating in Community Giving Days and volunteering time for important causes.

We aspire for all of our new buildings to incorporate community and user considerations into the design process, providing healthy and natural spaces that enable building users to thrive within their work environment and the community surroundings. We are not merely building world-class infrastructure; we are seeking to strengthen communities and ecosystems, to advance scientific discoveries and to support the life science industry in its mission to deliver therapies, diagnostics, vaccines and medical innovations to support humanity.

Good Governance

We take seriously our responsibility to do business in an ethical way that benefits all of our stakeholders. Our core values remind us to hold ourselves to the highest standards – to treat all with respect and civility, to incorporate transparency, honesty, and simplicity in our business relationships, to honor our agreements and act with integrity, and to make the communities we operate in around the world better places to work and live. We live these values through our governance practices and policies regarding anti-corruption, human rights and anti-slavery, non-discrimination, and our code of ethics.

Transparency

Breakthrough Properties seeks to maintain transparency with our stakeholders regarding the ESG characteristics of our developments and operations. We keep our investors and clients updated on material information related to our investments and business operations, and publicly report on ESG progress with annual reporting and certifications through recognized third-party platforms.