Short for “environmental, social and governance,” ESG is a stakeholder-centric approach to doing business. Companies that adhere to ESG standards agree to conduct themselves ethically in those three areas. Organizations have a wide range of approaches and solutions to focus on under the ESG umbrella. For example:
Environmental: preserving our natural world
- Climate change
- Carbon emission reduction
- Water pollution and water scarcity
- Air pollution
- Deforestation
- Greenhouse gas emissions
Social: considering humans and our interdependence
- Customer success
- Data hygiene and security
- Diversity, equity, inclusion, and belonging
- Community relations
- Mental health
Governance: Logistics for running an organization
- Board of directors and its makeup
- Executive compensation guidelines
- Political contributions and lobbying
- Venture partner compensation
- Hiring and onboarding best practices
- Pay transparency
C-PACE and the “E” in ESG Investing
The Colorado Commercial Property Assessed Clean Energy program lets owners of eligible commercial and industrial buildings finance up to 100% of energy efficiency, renewable energy and water conservation eligible improvements. Private capital providers offer financing at competitive rates with repayment terms up to 25 years.
Building owners are empowered to modernize building energy infrastructure, lower energy costs, increase building comfort and asset value. Owners can make enhancements with no upfront costs while enjoying positive cash flow. C-PACE projects also advance public policy goals to create local jobs, reduce greenhouse gas emissions and increase renewable energy usage.
C-PACE financing repayment is facilitated through the county property tax assessment process. A voluntary assessment (similar to a sewer district assessment) is placed on the building owner’s property tax bill, which is repaid over the financing term up to 25 years. In most cases, the annual energy cost savings exceed the annual assessment payment, enabling capital intensive equipment upgrades. Because the C-PACE assessment obligation runs with the property, the assessment can transfer to the next owner when the property is sold.
ESG Is More Than a Responsibility
ESG is more than a responsibility. It’s a mindset and an opportunity for growth. Knowing where to start can be overwhelming. Contact Miller’s Landing to discover your first steps and take advantage of the C-PACE program. Let’s create the future together!
Miller’s Landing is the first mixed-use SmartTown development in the country. Technology has a role across multiple dimensions – including mobility, transportation, sustainability, public health, safety, and community – to help the people who live, work, play, and invest in our communities be successful.
