Net Zero Strategies

Moving their operational portfolio forward along the journey to full decarbonization.

In pursuit of their ambitious net zero goals, the Tower Companies employs an array of strategies. They begin by prioritizing their least efficient assets and looking at their capital needs. Considering these needs alongside proven technologies to address them, they implement these improvements – such as more efficient HVAC systems – to advance the asset’s sustainability (Lanciano 2024). Proactively assessing new methods, they’re determining the feasibility of electrification for large residential assets and are evaluating technologies like thermal storage. Additionally, The Tower Companies has placed substantial emphasis on clean energy generation. Producing approximately one gigawatt hour of solar energy across their assets in 2024, this investment is further supported by their renewable energy and carbon offset procurement efforts. In 2023, they purchased 25,500 MWh of RECs and carbon offsets equivalent to 2,650 tonnes CO2e for the assets in their portfolio. This commitment supplements their onsite renewable energy generation and energy efficiency measures, and demonstrates their broader understanding that a multifaceted approach is necessary to “fully decarbonize their operational portfolio by 2047” (Lanciano 2024), the centennial of the company’s founding.

Energy & Carbon

Efficiency is the cornerstone of The Tower Companies’ approach to decarbonization

Tower Implements strategies that either directly reduce energy use or help prepare for electric alternatives.

Notably, 3 buildings in the portfolio are fully electrified, with no Scope 1 emissions. Of the 16 buildings assessed, 1 building achieved Certification and 7 achieved Recognition.

Journey to Net Zero

“Having a third party evaluate our portfolio is always a helpful tool to learn more about our portfolio and help ensure that we are on the right path to meeting our goals.”

Luke Lanciano, Director of Sustainability

The Tower Companies’ interest in a “continuum of decarbonization” aligns with the central framework of GBI’s Journey to Net Zero. This approach recognizes that many building owners and operators want to achieve net zero goals, but cannot do so overnight The Journey to Net Zero supports users by providing critical insights and validation of their energy use and CO2e emissions reduction efforts. With the support of GBI’s Client Services team and the expertise of a thirdparty Green Globes Assessor, the assessment yields a detailed results with recommendations to achieve further reductions.