Trizec Properties Wins ''Leader in the Light'' Award from NAREIT; REIT honored for superior energy use practices
08 November 2005 - 1:30AM
Business Wire
Trizec Properties, Inc. (NYSE:TRZ), one of North America's leading
office property owners, announced today that it has been awarded
the 2005 Gold "Leader in the Light" award from the National
Association of Real Estate Investment Trusts (NAREIT) in
collaboration with the United States Environmental Protection
Agency (EPA). Trizec was honored during an awards breakfast at the
2005 NAREIT Annual Convention, held in Chicago on November 4, 2005.
The NAREIT Leader in the Light award recognizes company-wide
operations which generate substantially improved energy efficiency
and expense management. Trizec received the top award in the Large
Market Cap category (above $1.7 billion). Applicants were judged by
a panel of three experts from the fields of academia,
business/finance, and the EPA in the following categories:
Organizational Commitment and Approach, Financial and Environmental
Value of Energy Achievements and Portfolio-Wide Energy Use. "We are
delighted that NAREIT and the EPA are recognizing the impact of the
REIT industry in the area of energy use and efficiency and we are
honored that they have chosen Trizec as the recipient of the first
'Leader in the Light' award," said Bill Tresham, Trizec Executive
Vice President and Chief Operating Officer. "Trizec is dedicated to
the pursuit of excellence in the area of energy management,
monitoring, control and consumption, and as a publicly traded REIT,
we understand the importance of operating our properties in an
environmentally and financially responsible manner." Trizec's
formal commitment to energy conservation and management began in
the late 1990's with the introduction of 'Trizec's Energy
Excellence Program,' which is focused on achieving exceptional
results and constantly improving the energy performance of the
portfolio. To effectively administer its portfolio-wide energy
conservation program, Trizec has implemented sophisticated systems
to monitor energy consumption, store detailed comparative data and
generate reports that aid in the analysis of the energy
conservation efforts of every property in the Trizec portfolio.
Since the program was formally instituted five years ago, Trizec
has realized a savings of approximately 15% in energy consumption
over the base year of the program. This translates to savings of
almost $16 million annually. Additionally, the impact of Trizec's
program has translated in a reduction of CO2 emission by
approximately 690,000 tons per year as compared to the base year.
This reduction in CO2 emission is equivalent to removing
approximately 125,000 vehicles from the nation's highways. Trizec
Properties, Inc., a real estate investment trust (REIT)
headquartered in Chicago, is one of the largest owners and
operators of commercial office properties in the United States. The
Company has ownership interests in and manages a high-quality
portfolio of 50 office properties totaling approximately 37 million
square feet concentrated in the metropolitan areas of seven major
U.S. cities. The Company trades on the New York Stock Exchange
under the symbol TRZ. For more information, visit Trizec's web site
at www.trz.com or call toll free at 1 (800) 891-7017.
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