Boston Properties Inc

In 2021, BXP's Board of Directors formed a new committee of the Board dedicated to BXP's sustainability activities, including climate action and resilience initiatives. The new Sustainability Committee assists the Board of Directors in its risk oversight responsibilities and serves as a direct resource to management with the primary purpose of imparting any information, knowledge and ideas related to environmental sustainability matters, including best practices and developing trends and issues. [...] The Company's sustainability initiatives are supported and coordinated by this Board-level Sustainability Committee, as well as the Company's Corporate Sustainability Steering Committee, and a Company-wide Sustainability Committee comprised of regional leaders and key decision-makers.

The Board of Directors and the Sustainability Committee support efforts to implement our sustainability strategy through our corporate sustainability program. Our Board-level Sustainability Committee, chaired by BXP Director Diane Hoskins, assists the Board in fulfilling its oversight responsibilities with respect to matters relating to environmental sustainability and climate, including the issues and risks related to these topics. Throughout the year, the Company organizes meetings, presentations, and regional Sustainability Summits to communicate the objectives and performance of our ESG initiatives to our Board of Directors, executive management, and other stakeholders, including our employees and investors. BXP's ESG reporting and implementation of our sustainability initiatives are led by Ben Myers, our Senior Vice President of Sustainability. The sustainability program initiatives are supported and coordinated by BXP's Board-level Sustainability Committee, a Corporate Sustainability Steering Committee, and a Company-wide Sustainable Operations Committee of regional leaders and key decision-makers. [...] Sustainability Committee of the Board of Directors BXP's Sustainability Committee assists the Board of Directors in its risk oversight responsibilities by overseeing BXP's sustainability activities, including risks and initiatives related to climate action and resilience, and serves as a direct resource to management by providing oversight and direction related to environmental sustainability matters, including best practices, developing trends, risks, and issues. The duties and responsibilities of the Sustainability Committee of BXP's Board of Directors include: • Reviewing and sharing real estate industry sustainability best practices; • Working with the Board and management to oversee the establishment of environmental performance goals (energy, emissions, water, and waste), and initiatives related to climate action and resilience; • Monitoring and evaluating the Company's progress in achieving its sustainability goals and commitments, progress, and achievements, as well as relevant independent ESG ratings/rankings; • Reporting to and advising the full Board as appropriate on the Company's sustainability objectives and strategy; • Periodically reviewing legal, regulatory, and compliance matters that may have a material impact on the implementation of the Company's sustainability objectives, and making recommendations to the Board and management, as appropriate, with respect to the Company's response to such matters; • Assisting the full Board in fulfilling its oversight responsibility by identifying, evaluating, and monitoring the environmental and climate trends, issues, risks, and concerns that affect or could affect the Company's business activities and performance; • Advising the full Board on significant stakeholder concerns related to sustainability; and • Performing such other functions as may be requested by the full Board from time to time.

The Compensation Committee also reviews and makes recommendations to the full Board of Directors regarding the compensation of non-employee directors. [...] The Compensation Committee's responsibilities include, among other duties, the responsibility to (1) review and approve the corporate goals and objectives relevant to the compensation of the Chairman, the Chief Executive Officer and certain designated senior executive officers, (2) evaluate the performance of the Chairman, the Chief Executive Officer and designated senior executive officers in light of such goals and objectives and determine and approve compensation of such officers based on such evaluation, (3) review and approve the compensation of other executive officers, (4) review and approve grants and awards under all incentive-based compensation plans and equity-based plans and (5) perform other functions or duties deemed appropriate by the Board.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]We have a Company-Wide Sustainability Operations Committee that tracks and discusses regional policies. In all cases, we are trying to stay ahead of future regulations. Our adoption of net-zero carbon developments are the latest examples of these efforts. In addition to sustainable development, we are working with our peers and policymakers to define and procure eligible green power, onsite and offsite, that will advance regional climate action goals.

BXP became a proud signatory of the We Are Still In pledge after the U.S. withdrawal from the Paris Agreement and has aligned emissions reduction targets with climate science. The SBTi Target Validation Team has classified BXP's emissions reduction target ambition and has determined that it is in line with a 1.5°C trajectory, the most ambitious designation available at the time of submission. We are committed to achieving carbon-neutral operations, or net-zero carbon dioxide equivalent emissions, which includes direct and indirect Scope 1 and Scope 2 emissions, by 2025 from our occupied and actively managed buildings where we have operational control.

The BXP Management's role in overseeing climate-related initiatives is spread across multiple teams throughout our organization, including our Board of Directors, executive leadership and our Sustainability, Risk Management, Development, Construction and Property Management Departments. BXP has a dedicated team of sustainability professionals focused on ESG issues that coordinate and collaborate across corporate and regional teams to advance environmental sustainability issues and initiatives. As a vertically integrated, full-service real estate company, we are engaged in addressing climate-related issues at all levels of our Company.

During stakeholder engagement processes, we work closely with our clients, vendors and service providers to gather knowledge and plan and implement design solutions, technologies and programs that drive key performance indicator improvement that aligns with our climate change strategy. We regularly participate in public forums during the development process to seek community input and apply green building standards to manage our supply chain. In our communities, we actively participate in business improvement districts (BIDs), associations, nonprofits and other civic engagement activities intended to strengthen public-private partnerships and advance sustainability at the neighborhood scale.