Real estate has a low profile among low-carbon earners on the newly released 2020 Carbon Clean200 list of publicly traded companies that derive at least 10 per cent of their total revenue from products and services tied to a clean economy. Technically, three real estate entities are ranked in this fifth year of the joint analysis from the clean capitalism advocacy organizations, Corporate Knights and As You Sow, but just two of them have conventional commercial real estate portfolios.
Weyerhaeuser Company, a forest products purveyor that owns or controls 12.2 million acres of timberlands in the United States, is categorized as a specialized REIT through its global industry classification standard (GICS) for investment management purposes and defined as a real estate company on the Clean200 list. However, the source of its clean revenue is cited as “FSC (Forest Stewardship Council) and PEFC (Program for the Endorsement of Forest Certification) certified products”. Two Singapore-based companies — City Developments Ltd. and CapitaLand Ltd. — are real estate’s truer representatives in the top 200.
While cautioning that their work should not be viewed as investment advice or recommendations, devisors of the Clean200 list position it as a register of competitive low-carbon investment options. To qualify, companies must boast annual revenue of at least USD $1 billion and be free from 21 identified negative encumbrances.
“In 2016, people were saying: If we divest fossil fuels there is nothing to invest in. We created the Clean200 to show investors around the world that the clean energy future is actually the clean energy present,” explains Andrew Behar, chief executive officer of the U.S. based organization, As You Sow.
Recognized sources of low-carbon revenue include business activities related to: energy efficiency; green energy; electric vehicles; financing low-carbon ventures; low-carbon real estate footprints; environmentally responsible forestry and mining; low-carbon food and apparel production; and information and communications technology aligned with a low-carbon economy. Clean200 sponsors report that designated companies have collectively delivered a 29.58 per cent return on investment since the annual analysis of investment performance was launched in 2016, which significantly surpasses the 6.68 per cent return that companies in the MSCI ACWI Global Energy Index delivered over the same period.
“Investors may finally be breaking up with fossil fuels as capital flows to better growth prospects in clean energy,” submits Toby Heaps, chief executive officer of Canada’s Corporate Knights.
Commentary accompanying the list of this year’s top low-carbon earners identifies Canadian investors as leaders of that trend.
“Many of the biggest investors in the world are selling off their fossil fuel holdings and loading up on green assets. For example, without any fanfare the C$200 billion (USD $150 billion) Ontario Teachers’ Pension Plan (has dialled down its fossil-fuel equity holdings to just 1 per cent. On the upside, the C$306 billion (USD $230 billion) Caisse de dépôt et placement du Québec (CDPQ) has grown its green investment book to C$30 billion (USD $22.5 billion), earning commercial returns along the way, according to outgoing chief executive Michael Sabia,” it states.
GRESB overlap and services promoting high-performance buildings also figure in Clean200
Looking specifically at listed real estate options, City Developments ranked 81st for deriving USD $3.1 billion, or 64 per cent of its total 2018 revenue of USD $4.9 billion, from energy-efficient buildings. CapitaLand Ltd. placed 101st with USD $2.5 billion, or 38.4 per cent, of its USD $6.5 billion in earnings attributed to energy-efficient buildings.
Both companies are also long-term participants in the GRESB global benchmark for the environmental, social and governance (ESG) performance of commercial real estate portfolios. In 2019, CapitaLand was named the global sector leader for listed companies with diversified portfolios, while City Developments was the Asia sector leader for listed companies in the office property category.
Nine Canadian companies are among this year’s Clean200, including two — SNC-Lavalin Group and Stantec — that provide professional services to the real estate industry. Both generate low-carbon revenue from design, consultation services and/or construction and project management of energy-efficient infrastructure and high-performance buildings. Another Canadian Clean200 designee, Cascades Inc., supplies recycled paper products to the property/facilities management sector among other consumer groups.
CN Rail achieved Canada’s top ranking, at 23rd, with nearly 81 per cent of its 2018 revenue attributed to clean sources — cited as “energy-efficient bulk transportation”. That’s more than USD $9.2 billion (CAD $12.2 billion) of USD $11.47 billion (CAD $15.25 billion) in total revenue.
Other ranking Canadian enterprises include CP Rail, Bombardier Inc., Canadian Solar Inc,, Brookfield Renewable Partners and Transcontinental Inc. Meanwhile, Hydro One Ltd. and Fortis Inc. were excluded from contention for failing to meet the Clean200 threshold for utilities to derive at least 50 per cent of revenue from green sources.
The largest share of 2020 Clean200 companies — 39 or 19.5 per cent — are headquartered in the United States, while, in total, 26 nations are represented. With nine, Canada surpasses more populous countries such as Germany, home to seven, and the United Kingdom, home to six. Canada’s tally trails the U.S; Japan, with 28; China, with 27; France, with 13; and Sweden, with 10.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
In the quest to find cities where renters can enjoy the best of all worlds, a recent study analyzed 24 metrics across three key categories—Housing & Economy, Quality of Life, and Community. The study ranked the 100 largest cities in Canada to determine which ones offer the most to their renters.
Here are the top 10 cities that emerged as the best for renters in 2024:
St. John’s, NL
St. John’s, Newfoundland and Labrador, stand out as the top city for renters in Canada for 2024. Known for its vibrant cultural scene, stunning natural beauty, and welcoming community, St. John’s offers an exceptional quality of life. The city boasts affordable housing, a robust economy, and low unemployment rates, making it an attractive option for those seeking a balanced and enriching living experience. Its rich history, picturesque harbour, and dynamic arts scene further enhance its appeal, ensuring that renters can enjoy both comfort and excitement in this charming coastal city.
Sherbrooke, QC
Sherbrooke, Quebec, emerges as a leading city for renters in Canada for 2024, offering a blend of affordability and quality of life. Nestled in the heart of the Eastern Townships, Sherbrooke is known for its picturesque landscapes, vibrant cultural scene, and strong community spirit. The city provides affordable rental options, low living costs, and a thriving local economy, making it an ideal destination for those seeking both comfort and economic stability. With its rich history, numerous parks, and dynamic arts and education sectors, Sherbrooke presents an inviting environment for renters looking for a well-rounded lifestyle.
Québec City, QC
Québec City, the capital of Quebec, stands out as a premier destination for renters in Canada for 2024. Known for its rich history, stunning architecture, and vibrant cultural heritage, this city offers an exceptional quality of life. Renters benefit from affordable housing, excellent public services, and a robust economy. The city’s charming streets, historic sites, and diverse culinary scene provide a unique living experience. With top-notch education institutions, numerous parks, and a strong sense of community, Québec City is an ideal choice for those seeking a dynamic and fulfilling lifestyle.
Trois-Rivières, QC
Trois-Rivières, nestled between Montreal and Quebec City, emerges as a top choice for renters in Canada. This historic city, known for its picturesque riverside views and rich cultural scene, offers an appealing blend of affordability and quality of life. Renters in Trois-Rivières enjoy reasonable housing costs, a low unemployment rate, and a vibrant community atmosphere. The city’s well-preserved historic sites, bustling arts community, and excellent educational institutions make it an attractive destination for those seeking a balanced and enriching lifestyle.
Saguenay, QC
Saguenay, located in the stunning Saguenay–Lac-Saint-Jean region of Quebec, is a prime destination for renters seeking affordable living amidst breathtaking natural beauty. Known for its picturesque fjords and vibrant cultural scene, Saguenay offers residents a high quality of life with lower housing costs compared to major urban centers. The city boasts a strong sense of community, excellent recreational opportunities, and a growing economy. For those looking to combine affordability with a rich cultural and natural environment, Saguenay stands out as an ideal choice.
Granby, QC
Granby, nestled in the heart of Quebec’s Eastern Townships, offers renters a delightful blend of small-town charm and ample opportunities. Known for its beautiful parks, vibrant cultural scene, and family-friendly environment, Granby provides an exceptional quality of life. The city’s affordable housing market and strong sense of community make it an attractive option for those seeking a peaceful yet dynamic place to live. With its renowned zoo, bustling downtown, and numerous outdoor activities, Granby is a hidden gem that caters to a diverse range of lifestyles.
Fredericton, NB
Fredericton, the capital city of New Brunswick, offers renters a harmonious blend of historical charm and modern amenities. Known for its vibrant arts scene, beautiful riverfront, and welcoming community, Fredericton provides an excellent quality of life. The city boasts affordable housing options, scenic parks, and a strong educational presence with institutions like the University of New Brunswick. Its rich cultural heritage, coupled with a thriving local economy, makes Fredericton an attractive destination for those seeking a balanced and fulfilling lifestyle.
Saint John, NB
Saint John, New Brunswick’s largest city, is a coastal gem known for its stunning waterfront and rich heritage. Nestled on the Bay of Fundy, it offers renters an affordable cost of living with a unique blend of historic architecture and modern conveniences. The city’s vibrant uptown area is bustling with shops, restaurants, and cultural attractions, while its scenic parks and outdoor spaces provide ample opportunities for recreation. Saint John’s strong sense of community and economic growth make it an inviting place for those looking to enjoy both urban and natural beauty.
Saint-Hyacinthe, QC
Saint-Hyacinthe, located in the Montérégie region of Quebec, is a vibrant city known for its strong agricultural roots and innovative spirit. Often referred to as the “Agricultural Technopolis,” it is home to numerous research centers and educational institutions. Renters in Saint-Hyacinthe benefit from a high quality of life with access to excellent local amenities, including parks, cultural events, and a thriving local food scene. The city’s affordable housing and close-knit community atmosphere make it an attractive option for those seeking a balanced and enriching lifestyle.
Lévis, QC
Lévis, located on the southern shore of the St. Lawrence River across from Quebec City, offers a unique blend of historical charm and modern conveniences. Known for its picturesque views and well-preserved heritage sites, Lévis is a city where history meets contemporary living. Residents enjoy a high quality of life with excellent public services, green spaces, and cultural activities. The city’s affordable housing options and strong sense of community make it a desirable place for renters looking for both tranquility and easy access to urban amenities.
This category looked at factors such as average rent, housing costs, rental availability, and unemployment rates. Québec stood out with 10 cities ranking at the top, demonstrating strong economic stability and affordable housing options, which are critical for renters looking for cost-effective living conditions.
Québec again led the pack in this category, with five cities in the top 10. Ontario followed closely with three cities. British Columbia excelled in walkability, with four cities achieving the highest walk scores, while Caledon topped the list for its extensive green spaces. These factors contribute significantly to the overall quality of life, making these cities attractive for renters.
Victoria, BC, emerged as the leader in this category due to its rich array of restaurants, museums, and educational institutions, offering a vibrant community life. St. John’s, NL, and Vancouver, BC, also ranked highly. Québec City, QC, and Lévis, QC, scored the highest in life satisfaction, reflecting a strong sense of community and well-being. Additionally, Saskatoon, SK, and Oshawa, ON, were noted for having residents with lower stress levels.
For a comprehensive view of the rankings and detailed interactive visuals, you can visit the full study by Point2Homes.
While no city can provide a perfect living experience for every renter, the cities highlighted in this study come remarkably close by excelling in key areas such as housing affordability, quality of life, and community engagement. These findings offer valuable insights for renters seeking the best places to live in Canada in 2024.
