Measurable ESG
Every project we redevelop brings us closer to net zero.
Impact Report: 2022
- 114 Million
Number of Trees in Carbon Offset
- 5.47 Billion
Pounds CO2 Eliminated
15 Projects
Sustainably Redeveloped
- 26.65 BillionMMBTU of Coal Combustion Prevented
The transition of the energy grid to renewable sources is best accomplished by recycling the assets we already have in place.
Coal consumption has and will continue to decline sharply, engendering a continued trend of closing coal-fired power plants. Retired power facilities typically occupy prime locations on or near waterfront and urban centers. These complex properties are uniquely situated to support both clean power and logistics infrastructure as well as commercial space. The ability to unlock the potential of these sites requires extensive experience in the environmental remediation, redevelopment and reclamation of the underlying assets in order to realize their potential as economic and environmental hubs in their communities.
IRA enhances the 98six° Value Proposition
The confluence of capital infusion and policy alignment bolsters our infrastructure for the future approach
The Inflation Reduction Act of 2022 (IRA) is the most significant climate legislation in U.S. history, offering funding, programs, and incentives to accelerate the transition to a clean energy economy. ITC and PTC tax credits have been enhanced and extended, creating strong renewable incentives, including a new mechanism to sell tax credits to third parties.
Environmental
The degree sign in 98six° represents our team's shared commitment to improving the relationship between the built environment and the human communities they support. By applying responsible resource reduction strategies, we enhance our environmental performance as well as our investment performance.
Social
We maintain a deep commitment to the communities in which we invest and operate. Many of the asset we target were built over 100 years ago, when community impact wasn’t a metric. We understand the role our redevelopment makes in communities, both from filling the gap in tax revenues that are often lost when industrial plants are decommissioned to considering the upskill educational opportunities and community space we can introduce.
In addition to charitable contributions, we become an active part of the community; volunteering and dedicating time, skills and resources as well as being sensitive to the diversity of opinions and priorities of various constituents. We aim to engage with all of our stakeholders to achieve our purpose: helping to revitalize communities by utilizing the assets they already have.
Governance
ESG issues are foundational to our investment analysis and due diligence processes, which include a rigorous underwriting regimen, risk management evaluation and approval processes. We operate within a framework of policies, procedures, principles and practices established by our principals to embrace corporate responsibility, accountability, ethics, integrity and transparency in their stakeholder relationships.
