Responsibility | Brookfield

Our 2024 Sustainability Report

Download our latest report to learn more about our sustainability approach and initiatives.

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Reuters Breakingviews Webcast with Bruce Flatt

“We believe that value creation and sustainable development are complementary goals.”

-Bruce Flatt, Chief Executive Officer

Sustainability at Brookfield

We draw on our 100+ year heritage as an owner and operator to invest for value and seek to generate strong returns for our clients across economic cycles. Our Sustainability Policy outlines our approach and is based on the following guiding principles:

Mitigate the impact of our operations on the environment

Strive to minimize the environmental impact of operations and improve efficient use of resources over time.

Support the ambition of reaching net-zero greenhouse gas (GHG) emissions by 2050 or sooner.

Strive to ensure the well-being and safety of our workforce

Foster a positive work environment based on respect for human rights, valuing diversity, and having zero tolerance for workplace discrimination, violence or harassment.

Operate with robust health and safety practices to support the goal of achieving zero serious safety incidents.

Uphold strong governance practices

Operate to the highest ethical standards by conducting business activities in accordance with our Code of Business Conduct and Ethics.

Maintain strong stakeholder relationships through transparency and active engagement.

Be good corporate citizens

Strive to ensure the interests, safety and well-being of the communities in which we operate are integrated into our business decisions.

Support philanthropy and volunteerism by our employees.

Our Net-Zero Ambition

In 2021, we set an ambition to reach net zero by 2050 or sooner across Operationally Managed investments. We prioritize Operationally Managed investments where we believe such decarbonization steps will add value over the life of the investment; we can manage the outcomes; and we are able to identify and implement initiatives in the near term.

While we view decarbonization as a meaningful operational efficiency lever, we acknowledge transitioning to a net zero future is an ambition subject to many uncertainties. Despite these challenges, we work with portfolio companies to identify operational value-enhancement and decarbonization opportunities, including energy efficiency and electrification measures, where our operations teams can work closely with portfolio companies to support implementation.

Integrating Sustainability Into Our Investment Process

We seek to embed material sustainability considerations, while evaluating risks and value creation opportunities, throughout our investment life cycle¹:

Due Diligence

Evaluate material sustainability risks and value creation opportunities
- Perform climate impact analysis
- Understand policies and procedures
- Consider other sustainability factors
- Identify opportunities

Investment Committee Approval

Assess sustainability criteria and flag key risks and opportunities to the investment committee
Develop a post-acquisition sustainability plan
- Escalate material diligence findings to the investment committee for discussion
- Describe climate risks and mitigants
- Highlight sustainability-related opportunities

Ongoing Management

Identify, prioritize and monitor sustainability issues on an ongoing basis
Document and measure KPIs on relevant issues or incidents
- Collaborate with portfolio companies to collect, analyze, and use sustainability data
- Manage climate and other sustainability factors and execute value-accretive opportunities
- Report internally and externally

Exit

Outline potential value creation derived from relevant sustainability considerations
Prepare qualitative and quantitative data summarizing sustainability performance
- Create summary case studies
- Share relevant key performance indicators with buyers
- Transition ongoing initiatives
- Learn from experience

¹Refers to investments where Brookfield has control or significant influence.

Our People

Our people are our most important asset. The three attributes—collaboration, entrepreneurship, and discipline—form the foundation of Brookfield and have been critical to the success of the partnership in building relationships that are long-lasting and mutually rewarding. By hiring talented people and giving them opportunities to move into different businesses, we have been able to build our expertise into a broad ecosystem that facilitates collaboration across different areas and geographies as needed.

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Sustainability in Action

Private Equity

La Trobe’s Transition to Renewable Electricity

Our portfolio company transitioned to renewable electricity for select tenancies as part of its emissions reduction strategy, achieving cost savings and a stable renewable energy supply from wind and hydro.

Renewable Power

Harnessing AI-Powered Drones for Safer Operations in Spain

Our portfolio company deployed Harnessing AI-Powered Drones for Safer Operations in Spain
drone technology for automated inspections of ball joint assemblies, reducing manual interventions, saving work hours and costs, and enhancing data accuracy.

Real Estate

Driving Operational Efficiencies though Decarbonization in Real Estate

Brookfield Real Estate aims to reduce emissions and lower costs through decarbonization initiatives across its New York City housing, U.S. logistics and retail portfolios.

Infrastructure

Reducing Physical Climate Risk

One of our portfolio companies, a toll road business in Brazil, implemented a platform for landslide alerts based on rainfall history and the physical characteristics of the slopes.