Tuesday, September 14, 2021

Montgomery County-based JBG Smith announces it has achieved portfolio-wide carbon neutrality

4747 Bethesda Avenue lobby

JBG Smith
, a real estate development firm headquartered at 4747 Bethesda Avenue, announced this morning that it has achieved carbon neutrality across its entire operating portfolio of properties, which include several in Rockville. It accomplished this by purchasing verified carbon offsets for scope-one carbon emissions, and renewable energy credits (RECs) for scope-two electrical consumption.

Galvan development in Rockville

In order to maintain carbon neutral status in the coming years, the company said it will have to take further actions. Those actions will include:

1.       Driving down energy consumption across its existing portfolio

2.       Reducing anticipated energy consumption and embodied carbon for its development pipeline

3.       Deploying onsite solar where most impactful

4.       Exploring offsite solar opportunities and bringing additional renewables to the national electrical grid 

5.       Addressing the remainder of carbon emissions with verified carbon offsets and renewable energy credits (RECs)

7200 Wisconsin in Bethesda

“Achieving carbon neutrality across our operating portfolio provides JBG Smith with a strong and compelling competitive advantage," JBG Smith CEO Matt Kelly said in a statement. "Our office, residential, and retail customers increasingly demand this from their real estate space and service partners and our investors expect that we are doing all that we can to address this looming and critical threat, Our collective actions over the next decade are essential in offsetting the current carbon emission trajectory and, through sustainable best practices, JBG Smith remains committed to positively impacting the communities we serve at every level.”

Terano in Rockville

JBG Smith has developed, owns or manages many properties in Montgomery County, including the Trader Joe's-anchored 8001 Woodmont and 7200 Wisconsin in Bethesda, the Rock Grove shopping center in Shady Grove, and the Galvan and Terano in Rockville. Its most prominent venture is the Amazon HQ2 National Landing project in Arlington County, Virginia.

Rock Grove shopping center


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