Choice Properties REIT is a Canadian real estate investment trust that operates in the retail REIT sector. The company owns and manages a portfolio of over 700 properties across Canada, including shopping centers, supermarkets, and other retail properties. With a market capitalization of over $7 billion, Choice Properties REIT is one of the largest REITs in Canada.

As a responsible corporate citizen, Choice Properties REIT is committed to decarbonization and reducing its carbon footprint. The company has set ambitious targets to reduce its greenhouse gas emissions by 30% by 2030, and to achieve net-zero emissions by 2050. To achieve these targets, Choice Properties REIT is implementing a range of initiatives, including energy efficiency measures, renewable energy installations, and corporate power purchase agreements (PPAs).

One of the key ways that Choice Properties REIT is reducing its carbon footprint is through energy efficiency measures. The company has implemented a range of measures to reduce energy consumption in its properties, including upgrading lighting systems, installing energy-efficient HVAC systems, and optimizing building automation systems. These measures have not only reduced the company's carbon footprint, but also resulted in significant cost savings.

In addition to energy efficiency measures, Choice Properties REIT is also investing in renewable energy installations. The company has installed solar panels on several of its properties, which generate clean energy and reduce the company's reliance on grid electricity. Choice Properties REIT is also exploring other renewable energy technologies, such as wind and geothermal, to further reduce its carbon footprint.

Another key strategy that Choice Properties REIT is using to reduce its carbon footprint is through corporate PPAs. A corporate PPA is a long-term contract between a company and a renewable energy provider, where the company agrees to purchase a certain amount of renewable energy at a fixed price. By entering into a corporate PPA, Choice Properties REIT is able to secure a reliable source of renewable energy, while also supporting the growth of the renewable energy industry.

In 2020, Choice Properties REIT signed a 10-year corporate PPA with Bullfrog Power, a leading provider of renewable energy in Canada. Under the agreement, Choice Properties REIT will purchase 100% of the electricity generated by a 10 MW solar project in Ontario. This project is expected to generate over 14,000 MWh of clean energy per year, which is equivalent to the annual electricity consumption of over 1,300 homes.

Through its commitment to decarbonization and renewable energy, Choice Properties REIT is setting an example for other companies in the retail REIT sector. The company's efforts to reduce its carbon footprint not only benefit the environment, but also provide financial benefits through cost savings and long-term energy security.

In conclusion, Choice Properties REIT is a Canadian real estate investment trust that operates in the retail REIT sector. The company is committed to decarbonization and reducing its carbon footprint, and is implementing a range of initiatives to achieve this goal. These initiatives include energy efficiency measures, renewable energy installations, and corporate PPAs. Through its commitment to sustainability, Choice Properties REIT is setting an example for other companies in the retail REIT sector, and demonstrating that it is possible to achieve both environmental and financial benefits through responsible corporate energy management.