Bozzuto Group is a leading real estate development and management company headquartered in Greenbelt, Maryland, United States. The company was founded in 1988 by Tom Bozzuto and has since grown to become one of the largest privately held real estate firms in the country. Bozzuto Group specializes in the development, construction, and management of multi-family residential, commercial, and mixed-use properties across the United States.
As a company operating in the Multi Asset Class Own & Develop sector, Bozzuto Group has a strong focus on sustainability and decarbonization. The company is committed to reducing its carbon footprint and promoting renewable energy solutions across its portfolio of properties. Bozzuto Group recognizes that the real estate industry is a significant contributor to greenhouse gas emissions and is taking proactive measures to address this issue.
One of the ways that Bozzuto Group is working towards decarbonization is through the implementation of corporate energy strategies. The company has set ambitious goals to reduce its energy consumption and greenhouse gas emissions by 20% by 2025. To achieve these goals, Bozzuto Group is investing in energy-efficient technologies, such as LED lighting, smart thermostats, and high-efficiency HVAC systems. The company is also exploring the use of renewable energy sources, such as solar and wind power, to further reduce its carbon footprint.
Another key strategy that Bozzuto Group is pursuing to promote decarbonization is the use of corporate power purchase agreements (PPAs). A corporate PPA is a long-term contract between a company and a renewable energy provider, in which the company agrees to purchase a certain amount of renewable energy at a fixed price. By entering into a corporate PPA, Bozzuto Group is able to support the development of new renewable energy projects and reduce its reliance on fossil fuels.
Bozzuto Group has already entered into several corporate PPAs, including a 15-year agreement to purchase 50% of the output from a 120 MW solar farm in North Carolina. This project is expected to generate over 300,000 MWh of renewable energy annually, which is equivalent to the electricity consumption of approximately 26,000 homes. By purchasing this renewable energy, Bozzuto Group is able to offset a significant portion of its carbon footprint and support the growth of the renewable energy industry.
In addition to its focus on decarbonization and renewable energy, Bozzuto Group is also committed to promoting sustainable practices across its portfolio of properties. The company has implemented a number of initiatives to reduce waste, conserve water, and promote sustainable transportation. For example, Bozzuto Group has installed low-flow showerheads and toilets in its properties to reduce water consumption, and has implemented recycling programs to divert waste from landfills.
Bozzuto Group is also a leader in the development of sustainable buildings. The company has designed and constructed several LEED-certified properties, which are recognized for their high levels of energy efficiency and sustainability. Bozzuto Group's LEED-certified properties feature a range of sustainable features, such as green roofs, rainwater harvesting systems, and energy-efficient lighting.
Overall, Bozzuto Group is a company that is committed to promoting sustainability and decarbonization across its portfolio of properties. The company recognizes the importance of reducing its carbon footprint and is taking proactive measures to address this issue. Through the implementation of corporate energy strategies, the use of corporate PPAs, and the promotion of sustainable practices, Bozzuto Group is leading the way in the development of sustainable real estate.