SocialResponsibilityReport - Ivanhoé...

2008

SocialResponsibilityReport

CORPORATE OVERVIEWSocial Responsibility and SITQ

At SITQ, we have chosen to make social responsibility oneof our core values, in keeping with our commitment to movingbeyond our role as a purely economic player and doingeverything we can to be a well-rounded corporate citizen.Accordingly, as this report shows, we have put a wide rangeof solutions in place in the following five categories:

THE ECONOMY,through our purchasing power, our investments and thenumerous jobs we provide; through various initiatives thatfacilitate our tenants’ business operations; and through ourreturns, which ultimately benefit our Québec shareholders.

OUR PEOPLE,through appealing motivational, training, benefits and humanresources renewal programs and initiatives.

THE ENVIRONMENT,via the development of eco-friendly practices focusing on reducedconsumption, energy efficiency, recycling, reuse, transportation,etc.; through our active involvement in environmental awarenessevents; and through collaborative efforts that lead to greenbuilding certification for our properties.

COMMUNITY ACTION,by providing generous support to Centraide and causesrelated to urban heritage preservation and children’s well-being;by encouraging employees who give back to the community;and by providing access to our properties for charitable,cultural or educational causes.

THE EXPANSIONOF KNOWLEDGE, ESPECIALLYREAL ESTATE EXPERTISE,thanks to our support for two universities.

TABLE OF CONTENTS

Message from the President 02Contributing to the STRENGTH of our Economy 04Focusing on our Main STRENGTH: Our People 08Acting with STRENGTH to Protect the Environment 12Putting our STRENGTH to Work for the Community 18Supporting the STRENGTH of Progress: Knowledge 22Social Responsibility at a Glance 24

PROFILESince 1984, SITQ has upheld a tradition of excellence that hasmade it a leader in the North American and Western Europeanreal estate industries. Founded by the Caisse de dépôt etplacement du Québec with $9 million in invested capital, SITQtoday holds a $12.2-billion portfolio composed of prestigiousoffice buildings and business parks in major cities in Canada,the United States, France, the United Kingdom and Germany.Together, these properties represent over 38.5 million squarefeet (3.6 million m2).

SITQ draws strength and stability from its shareholders, namely,the Caisse de dépôt et placement du Québec (which owns a91.6% interest), the Régime de rentes du Mouvement Desjardins,Alcan Canada Master Trust, the Association de bienfaisanceet de retraite des policiers et policières de la Ville de Montréal,the Fonds commun de placement des régimes de retraite del’Université Laval and the Fiducie globale des régimes de retraitede la Société de transport de Montréal.

Backed by a team of nearly 360 employees, SITQ owes itssuccess to its solid investment and asset management know-how,its proven insight into the real estate development sector and therigour and quality of its property management. The Company hasits head office at the Centre CDP Capital in Montréal, businessoffices in Montréal and Calgary and a Canada-wide presencethrough its interest in Bentall Limited Partnership. Overseas, SITQalso has offices in Paris (France), Brussels (Belgium), Luxembourg,New Delhi (India), Shanghai (China) and Ebene (Mauritius).

SITQ

—SocialResponsibilityReport

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MESSAGE FROM THE PRESIDENT

As this is our third consecutive annual social responsibility report,we now have a basis of comparison that enables us to assessthe progress we have made and determine the work that stillremains to be done in terms of our contributions to the economy,our work force, our tenants, the environment, the community andthe expansion of knowledge. This comparison has led us to makeseveral observations and has helped ensure we continue to actwith transparency in everything we do.

First, we can be proud of the quantity and scope of achievementswe have made thus far. Throughout 2008, as this report shows,we continued the work begun in previous years, enhanced severalof our efforts and introduced new initiatives related to socialresponsibility. The results were remarkable and we were proud toroll out a substantial number of new internal policies, partnershipsand projects, meet and exceed many of our targets and garnereven more accolades for our properties.

The high number and advanced level of environmental certificationsthat have been presented to our properties are particularly indicativeof the progress we have made. In all, 37 of our properties are nowcertified under the LEED, BOMA BESt and/or Energy Star programs,and 18 others are in the midst of the application process. Theseachievements require a considerable amount of work on the partof various teams before, during and after the certification process.

This recognition has proven to us that we can and, even moreimportantly, that we must continue to push the envelope wheneverpossible. That is what we aim for every day, at every level of ourorganization. With this in mind, covering all of the initiativesundertaken in all of our properties in a single report like this oneis an imposing challenge. Given that we have 124 properties inour portfolio and that those outside Québec are managed by thirdparties and co-owned through various joint ventures, it wasdifficult for us again this year to come up with a comprehensiveoverview of the social responsibility activities currently in place.

However, during the year, we also made our first attempts atovercoming this problem in the medium term. We asked theDeloitte consulting firm to put together a sustainable developmentdiagnosis for all of SITQ’s operations. Armed with detailedknowledge of the current state of affairs of our activities, themarket in general, our strengths and areas for improvement andour risks and opportunities, we will be better poised to continueto expand the scope of this report.

In conclusion, I would like to extend my sincere thanks to all ofour employees, tenants and partners who each contributed intheir own way to making 2008 a successful year in terms ofsocial responsibility. Their outstanding engagement and creativityare why SITQ enjoys an enviable position in the real estate industryand continues to be an economic, social and environmental leaderin Québec.

PRESIDENT AND CHIEF EXECUTIVE OFFICER,Paul Campbell

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A GROWING STRENGTH:OUR SOCIAL RESPONSIBILITY

A MAJOR EMPLOYER AND BUYERIn Québec, which is home to 12 of our properties and 358 ofour tenants, SITQ is a major employer and buyer. In addition toproviding 325 direct jobs at our various workplaces and for themanagement of our properties, we support many more indirectjobs through repeat purchases and outsourcing contracts in awide variety of sectors (security, technical building management,janitorial services, parking administration, etc.). Our collaborationwith numerous suppliers in construction, engineering, architecture,law, taxation, accounting and so forth also contributes tomaintaining a large number of jobs in other areas.

In other markets where we invest, we contribute to local economiesin many ways, for example by calling upon the services of variousconsultants (tax experts, lawyers, appraisers, contractors, etc.).In addition, we have 32 people on staff in Calgary, Europe and Asia.

CONTRIBUTING TO THE STRENGTH OF OUR ECONOMY

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AS OF DECEMBER 31, 2008,OUR REAL ESTATE PORTFOLIOWAS MADE UP OF 124 PROPERTIESthroughout Canada, the United States and Europe, for a totalof 1,777 tenants. Given the extent of these assets and the numberof tenants we deal with, we must devote considerable human,material and financial resources to accommodate their needs.These activities naturally have a beneficial impact on thesurrounding communities.

RETURNS THAT BENEFIT OUR QUÉBECSHAREHOLDERSConsidering that SITQ’s main shareholder is the Caisse dedépôt et placement du Québec (91.6% owner) and that its fellowshareholders are also Québec pension fund managers, the returnswe generate translate into financial gains and investments for theQuébecers who contribute to these funds.

CONTRIBUTING TO THE PROSPERITYOF OUR TENANTSOur property management offering is unique in that we providehigh-quality, modern workplaces and unrivalled service that exceedour tenants’ expectations. We consider our tenants to be ourbusiness partners and we are proud to provide them with anenvironment conducive to their comfort and success.

Personalized, diligent and proactive service

Even though, year after year, our tenants have expressed avery high level of satisfaction with SITQ, we continue to strive tofine-tune our services. Accordingly, we have introduced a seriesof measures in recent years designed to pinpoint and quicklyrespond to the specific needs of our clientele and implementcontinuous improvement programs in each of the properties wemanage in Québec. Following is a description of these initiativesand the main results they generated in 2008.

• A Customer Service Centre with property-specific agentswho prioritize responses to service calls from their assignedtenants. This meant a maximum 10-second response time for93% of service calls in 2008, and a similar performance in2007. The average number of enquiries per day in 2008 was308. A short customer service questionnaire was sent to50 callers every month to gauge their satisfaction.

• Comprehensive survey to measure tenant and occupantsatisfaction. This year, we conducted a satisfaction surveyin the properties we manage in Québec. Respondents wereinvited to weigh in on property cleanliness, safety, comfort,amenities, staff courteousness, environmental managementand the brand image of the property they occupy. The resultsshow an overall satisfaction rating of 98%, which outstrips2005’s score of 95%.

• Performance indicator table, identifying areas forimprovement and making it possible to make promptchanges where appropriate.

• New, more efficient and more customized newsletter.CliKinfo is a newsletter for occupants that showcases eachindividual property and provides relevant information onSITQ’s activities in the property, as well as information oncurrent and upcoming work, safety and security andsustainable development.

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* As at December 31, 2008.SITQ

INQU

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MEN

TAN

DPU

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SING

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• Direct jobs: 325

• Total payroll: $33.8 million

• Total amount disbursedto suppliers: $60.6 million

• Indirect jobsthrough outsourcing: 425

Entertaining, informing, educating

One of our greatest strengths at SITQ is our commitmentto providing tenants with a diverse array of complimentaryactivities. The goal of these initiatives is to help companies andtheir employees enhance their existing practices – includingthose related to sustainability, safety and security – and bringsomething new to their day-to-day routine.

Among the entertainment-oriented activities we offer, some havealready become traditions in our Québec properties:• Les Concerts midi du Quartier international de Montréal, a series

of midday musical performances in downtown Montréal duringthe summer;

• Un air d’été, a concert series presented indoors or on outdoorpatios of our Montréal-based properties;

• Our annual business luncheon for key Montréal tenants,with this year’s guest speaker, Pierre Boivin, president of theMontréal Canadiens;

• Holiday choral concerts.

In Québec City, SITQ and the Caisse de dépôt et placement duQuébec co-presented a lunchtime concert series, coinciding withthe city’s 400th anniversary. In addition, tenants were given theopportunity to attend some of the headline events of theanniversary celebrations.

Our information and education activities in 2008 includeda special eco-event and Fire Prevention Week, both of whichsuccessfully reached out to our occupants.

• The Éco-Événement, presented for the second year in arow in four of our Montréal properties and two in Québec City,raised tenant and occupant awareness about the importanceof being ecologically responsible in the management of theiractivities within our properties. The event included a computerand electronics recycling drop-off day and information onenvironmental initiatives rolled out in recent years. TheÉco-Événement was held with the participation of severalof our key partners and suppliers.

• Fire Prevention Week. The 2008 edition of Fire PreventionWeek took place at Place Ville Marie (involving everyone, rightdown to our daycare tots!) and three other SITQ propertiesin Montréal. Experts were on hand to answer questions andinstruct occupants on how to properly operate fire protectiondevices, inspect their fire extinguishers and obtain affordableextinguisher refills.

Rewarding outstanding management

Thanks to initiatives such as the ones described earlier andour management approach based on proactivity and continuousimprovement, several of our properties have received a numberof prestigious honours over the years. The past year wasexceptionally rich in this regard: in addition to the numerousenvironmental certifications earned across the portfolio, thefollowing two properties walked away with awards for the qualityof their management in 2008:• London’s Chiswick Park ranked on the U.K.’s 50 Best

Workplaces list for the second year running. This achievementis due to the fact that every aspect of the Chiswick Park complex,in particular its wide range of tenant-oriented services, amenitiesand activities, reflects a simple but powerful idea: enjoy work.

• Centre CDP Capital, in Montréal, received a Building of theYear award from BOMA International.

EFFECTIVE, TRANSPARENT GOVERNANCEAs part of our pledge to implement and maintain effectivegovernance practices, we have adopted many structures andtools that have helped SITQ outperform expectations in thisregard, including:

• A Board of Directors, backed by a number of committees,including an Audit Committee, in order to ensure maximumshareholder protection.

• A Code of Ethics and Professional Conduct, which is adoptedand renewed by all employees on a yearly basis, after trainingon the principles and application of its provisions.

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ANNIK

DESMARTEAU

Prop

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pital

TEAMWORK: THE KEYTO CENTRE CDP CAPITAL’SSUCCESS AT THE BOMAINTERNATIONAL AWARDS

What’s the secret to winning one of themost prestigious commercial real estatemanagement awards in North America?Annik Desmarteau, Property Manager, CentreCDP Capital, attributes it to teamwork and theconstant pursuit of excellence. “We are veryproud of this honour,” she says. “Especiallyseeing as this is the first time in 20 years thata Québec property has walked away with thetitle and we were up against some prettyfierce competition.”

Before Centre CDP Capital could enter theinternational competition, it needed to makeits mark at BOMA’s provincial and nationalrounds. But on June 24, 2008, in Denver,Colorado, the property proudly received theultimate prize: the Building of the Year Award(500,000 - 1 million square feet), beating outfive other U.S. properties – one of which,incidentally, also belongs to the SITQ portfolio!

TEAMWORKAT EVERY LEVEL,COMMITMENTTOTOTALQUALITY“All of our management teams – maintenance,air-conditioning, elevators, electricity, etc. –have had to work hard before, during andafter the competition. Once our reputationfor quality is established, we have to keepit up, so our ongoing efforts are just as vitalas the award itself,” says Annik.

This achievement reflects well on the entirestaff at Centre CDP Capital, especially DanyGauthier, Property Manager at the time ofthe nomination process and the driving forcebehind this long-term undertaking. The honouris also shared with the property occupants,who can be more assured than ever of theexceptional quality of the management ofCentre CDP Capital.

A few of the team members behind the award:

Annik Desmarteau, Property Manager,Dany Gauthier, Property Manager,Carmen Huard, Coordinator, Operations,Nathalie Guiragossian, Secretary.

FOCUSING ON OURMAIN STRENGTH: OUR PEOPLE

PROMOTING EMPLOYEE ENGAGEMENTFocus groups to better identify the needs of our staff

In 2007, the results of our major biennial survey, which measuresemployee engagement and satisfaction, showed a very high overallsatisfaction rating of 83%. Despite this exceptional performance,we undertook an in-depth analysis of all of our results in 2008,which enabled us to identify areas for improvement, particularlyfrom the perspective of organizational communication and careermanagement.

We subsequently organized focus groups for these topics andestablished action plans to address the issues the groups raised.Certain measures were implemented as a result, such as the newtraining programs for managers and employees.

Recognizing excellence within SITQ

We firmly believe in the importance of concrete rewards forexemplary employee performance. Moreover, beyond thenumerous promotions we grant every year and our competitivecompensation programs, we hold an annual Quality Awardsceremony, which we founded in 1998, to honour those who havemade exceptional contributions toward achieving outstandingresults and improving quality. Winners receive their awards at aceremony in the presence of their peers and are treated to aspecial day-long activity organized especially for them.

Concrete support for volunteer and professional commitments

We are proud of the work many of our employees do in thecommunity, devoting their time and talent to various non-profitorganizations and professional associations. It is important for usto support our employees’ commitment toward such initiatives.This can take the form of a donation, sponsorship, time off duringthe work week, free access to meeting facilities or anothergesture, depending on which solution is the most suitable foreveryone involved.

OUR NUMBER-ONEASSET ISN’T ANY OF OUR REALESTATE HOLDINGS: IT’S THEDEDICATED, TALENTED PEOPLEwe have on our team. And to attract and retain theseskilled professionals, we do everything we can to helpthem grow with us and achieve their full potential.

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NURTURING OUR IN-HOUSE TALENTIn response to a survey conducted in 2007, we set up enrichedinternal training modules that are even better adapted to therealities of our managers and our employees for 2008 and 2009.In addition to targeting specific areas identified by the survey –namely quality of feedback provided by managers, involvement inthe decision-making process, maximization of individual potentialat work and stress management – these training initiatives willallow our people to make the most of their talents and broadentheir professional horizons.

In total, in 2008, we invested 2.5% of our payroll budget in training.Employees at any level can register for the many programs availableinternally, the costs of which are defrayed in full by SITQ. In addition,individuals who wish to pursue their studies at an outside institutionin a part-time program related to their current or future career pathare encouraged to do so. In these cases, we refund all expensesfor tuition and course materials.

But professional development is about more than courses andtraining. Bearing this in mind, we also offer the services of ahuman resources professional to help employees draw up acompetency development plan and support their career growthwithin the organization. In 2008, 39 SITQ employees werepromoted, given a temporary assignment or laterally transferred.

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PROMOTING THE WELL-BEING OFOUR EMPLOYEESA comprehensive benefits package

Over the years, we have developed benefits programs that put SITQat the head of the industry in this regard. These programs are highlycompetitive, especially in terms of work-life balance, and as suchare powerful tools for attracting, motivating and retaining personnel.

In addition to our group insurance and pension plans, our employeescan take advantage of a flextime option with core hours, condensedwork weeks, summer hours (longer hours over nine days, with everysecond Friday off) and various types of personal leave (wedding,birth, moving, etc.).

Two assistance programs for our employees and their families

We also offer two assistance programs, not only for employees butalso their families, to promote mental health and well-being. We feelthis family-oriented approach is important because, in the end, forour employees to be able to give their best at work, they need to behappy and balanced in their lives in general.

• Assistance program for employees and families. This is aspecialized round-the-clock counselling service designed toprovide short-term support and referrals for various personaldifficulties, including drug addiction, gambling, depression,legal or financial worries and so forth.

• Assistance in finding accommodations for aging parents.In 2008, we signed an agreement with Visavie, an organizationthat helps individuals find housing in the Montréal area for agingparents who are no longer able to live on their own. Ouremployees can therefore turn to this service to find the bestsolutions for their families as quickly and effectively as possible.

Activities and resources for a healthy mind and body

As in past years, we offered our employees an extensive variety ofactivities and tools designed to favour a healthy, balanced lifestyle.

Promotion of physical activity and wellness. The fitness centrelocated in our head office celebrated its second anniversary inAugust 2008. Inspired by the tremendous response it hasreceived, we added even more classes to the lineup during theyear. Employees can therefore consult with a team of experiencedkinesiologists and take advantage of a range of programs toenrich their quality of life.

As for employees working in our other Montréal properties, theyhave access to nearby workout centres at affordable prices,thanks to the efforts of our Social Club. And our employees atÉdifice Price in Québec City can use the exercise facilitiesavailable in the building.

In addition, we once again organized our annual physical fitness dayknown as Aujourd’hui j’bouge. Held at the Centre CDP Capital, thisevent allowed employees to visit a series of information booths ondifferent outdoor activities and take part in a relay race designed tofind out which of our property tenants are in the best shape!

Lastly, SITQ arranged a new and impressive series of lunchtimepresentations on health and well-being, tailored specifically to topicsof interest voiced by staff members. Well-known figures such asGuy Corneau, Hélène Baribeau and Dr. Nadia Gagné delivered talkson subjects such as the connection between memory and nutrition,leading a joy-filled life every day, the art of parenting and how to tapinto the best of yourself.

Incentives to quit smoking. In addition to providing a smoke-freeenvironment for our employees, we also refund a portion of thecosts of smoking cessation programs for those who are seriousabout quitting.

Celebrations and outings. Every year, we organize a number ofactivities for employees and their families, such as the children’sChristmas party, the employee holiday reception and our OutdoorActivity Day.

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LISE

VAUTOUR

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egalSe

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LISE VAUTOUR, OUTSTANDINGMANAGER AT THE 2008 QUALITYAWARDS: THE ART OF TEAM MOTIVATION

Lise Vautour, Manager, Legal Services, is respected and admiredby her employees – a sentiment that came across loud and clearwhen they secretly nominated her for a 2008 Quality Award asOutstanding Manager. Her track record was so impressive – andeven moving, as certain accounts attested – that Lise walked awaywith this year’s title!

A CAPTAIN WORKING IN HARMONYWITH HER CREWLise’s staff drew inspiration from the ocean surrounding her nativeprovince of New Brunswick to find the words for the impact shehas had on them. They compared her to a lighthouse – and awalking legal encyclopedia – and praised her natural leadership,delegating and motivational skills. “The open environment Lisecreates cultivates a feeling of cooperation and teamwork on thepart of every employee,” says Marjorie Gauvin, Legal Counsel.

This leader par excellence, who has risen in the SITQ ranks quicklysince joining us in 2001, is not one to back down from a challenge– such as the major one that she and her team faced in 2008 withthe reorganization of the Legal Services. In the end, she navigatedsmoothly through these rough waters, without undermining thequality of the services offered to our property management andleasing teams.

But Lise remains modest: “I owe this award to my employees.They have made me the manager I am today, and I think that thishonour gives us all the boost we need to do even more.”

ACTINGWITH STRENGTH TO PROTECT THE ENVIRONMENT

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RESOURCES AND TOOLS THAT PROMOTEEFFICIENCY AND CREATIVITYEnvironment Committee

The purpose of this multidisciplinary committee, which has beenactive for more than 12 years, is threefold:• Monitor compliance with our environmental policy for all

properties in the SITQ portfolio;• Ensure that our partners adopt an environment policy, if they

have not done so already, and share it with us;• Check that all applicable laws and regulations are met by both

SITQ and our property management partners outside Québec.

In 2008, the Environment Committee worked on a comprehensivesustainable development policy, which will be enacted in 2009,replacing the environmental policy currently in effect.

Green Committee

Our Green Committee celebrated its third anniversary in March 2008.Its mission is to continuously enhance our environmental practicesand develop awareness programs for employees and tenants.

Over the years, the Green Committee has been more and moreactive, as is evident in this section outlining the progress madeand the new projects established in 2008. The year also sawLinda Plante, Property Manager, named Chair of the Committee,after being a member since its creation in 2005.

Coordinator, Environment

The position of Coordinator, Environment, was created in 2006.Tasks include overseeing the efforts of the Green Committee,working toward the implementation of eco-friendly buildingmanagement programs in our Québec properties and actingas an internal consultant on environmental matters.

Guide to a Greener Office

Our policy on sound environmental management was adopted in2006 to set out reduction goals for the consumption of materialsand energy, foster respect for the environment and encouragethe responsible use of office supplies. In order to achieve theestablished targets, the Guide to a Greener Office, which containsa wealth of recommendations for achieving an eco-friendlyworkplace, was produced in 2008.

ETHICAL CONSUMPTIONAir

Year in, year out, we are committed to ensuring that the airour employees and tenants breathe is clean and adheres to thestrictest quality standards, namely those established by ASHRAE(American Society of Heating, Refrigerating and Air-ConditioningEngineers). We conduct regular inspections to ensure compliancewith these standards.

Water

In 2008, we installed a water meter at Centre CDP Capital toaccurately measure our consumption of drinking water. Anothermeter will be installed in 2009 at 1000 De La Gauchetière. Theoutcome of these efforts will be known during the course of theyear. With these meters, we will be able to keep close tabs on theresults of our water conservation initiatives. These projects havebeen carried out in conjunction with a City of Montréal program,in which we voluntarily agreed to participate.

In addition, we undertook a project in 2008 to reduce the amountof drinking water used at Centre CDP Capital, by connecting ournon-potable water supply to the underground Saint-Martin River,which flows through this part of the Island of Montréal. The watercollected from this source is used for cleaning purposes, therebysaving some 570,000 litres of drinking water per year.

1000 De La Gauchetière also introduced an interesting innovationto minimize the use of drinking water, with downtown Montréal’sfirst environmentally responsible steam cleaning car wash. Thissystem requires only 2 litres of water per vehicle, compared to the75 litres required by a conventional car wash. Over the course ofthe day, this means some 400 litres of water is saved.

GIVEN THE SIGNIFICANTENVIRONMENTAL IMPACTS BUILDINGSCAN HAVE, WE STRIVE TO MAKEECOLOGICALLY RESPONSIBLE DECISIONSevery day and at every level of our property management.We areproud of our achievements in this regard and of the substantial progresswe made in 2008.More than ever, SITQ leads the way in the real estateindustry in terms of green practices and sustainable development.

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Consumable supplies

New green procurement policy for Centre CDP Capital. We haveadopted a procurement policy at Centre CDP Capital that targetssupplies for our management office and janitorial products as wellas the acquisition, reuse and recycling of construction materials.All of these items must have recycled content and contain few or nosubstances harmful to public health or the environment. Our GreenCommittee has recommended that this policy be extended to all ofour properties in Québec.

Purchase of environmentally friendly goods from our suppliers.We have continued to work closely with our suppliers to obtainthe greenest possible solutions with respect to janitorial services,the processing of water in air-conditioning and heating systemsand our construction projects.

Paper. In 2008, two initiatives – the elimination of paper payslips issued by the Payroll Department and the Paper Challenge– enabled us to reduce our paper consumption. In addition, weensure that all documents intended for broad distribution andofficial reports are printed on FSC (Forest Stewardship Council)-certified recycled paper stock.

For the Paper Challenge, which spanned a three-month period,we invited employees at our head office as well as all our propertymanagement offices to reduce their printing output by applying thetips included in our Guide to a Greener Office. The overall target ofreducing printouts by 15% was exceeded by a full percentage point.

Other goods. Once we realized that nearly 125,000 used plasticutensils were being thrown out every year at the Café Caisse at theCentre CDP Capital, we offered all occupants of the property, aswell as those of the MÉCO (415 Saint-Antoine) and Montreal Heraldbuildings, a reusable table mat and utensils.

Halocarbons

Since 2002, we have gradually eliminated chlorofluorocarbons(CFCs) from the air-conditioning systems in the properties wemanage in Québec. In 2008, we were proud to have completelyeradicated CFCs from our entire Québec portfolio.

Energy

We are pleased to be one of the leaders in the Québec realestate market in terms of energy performance. We strive tokeep improving on this every day and to achieve an annualreduction of 2%, thanks to the ongoing efforts of our employeesand the creative energy management program developed by ourprovider, AXIMA Services. This program is based on systematicpreventive maintenance for our equipment and the constantanalysis and tweaking of the way in which we use energy.

In 2008, overall energy consumption for all of the propertieswe manage in Québec was down 3.6% from 2007. Thisrepresents a reduction of 36 million kilowatt-hours, enoughto run 1,800 residential homes for a year.

Annual reduction in power consumption in Québec propertiesunder SITQ management, 2005-2008

Here are some of our energy savings initiatives in 2008:

• Increase in energy efficiency at Centre CDP Capital. Theoptimization of the building’s electromechanical systems(ventilation, lighting, escalators, etc.) was an investment-freeway of achieving an 8.4% reduction in energy use over 2007.As a result, Centre CDP Capital was presented with a 2008Énergia award in the Recommissioning category from theAssociation québécoise pour la maîtrise de l’énergie.

• Upgrade of the neon lighting system at Édifice Mérici, in thecorridors and parking garage. The installation of new energy-efficient systems generated a reduction in power consumptionof roughly 30%.

• On-demand ventilation system at Place Ville Marie.Improvements in the way the ventilation system is managedled to a 5% reduction in the electricity used to power it,compared to last year. Thanks to this and other initiatives,Place Ville Marie was admitted to Hydro-Québec’s prestigiousÉcolectrique network in 2008.

• New eco-friendly exterior lighting system at Édifice Price.

• Participation of our Montréal and Québec City properties inthe annual Earth Hour event. On March 29, 2008, we turnedoff all our exterior lights between 8 p.m. and 9 p.m., as part of aworldwide gesture in support of the fight against climate change.

• Participation of our Montréal employees in the Défi climat.Our Green Committee encouraged our employees to take partin this large-scale Montréal-wide campaign promoting individual,institutional and corporate efforts to reduce greenhouse gasemissions. Those who signed up pledged to adopt lifestylehabits that would minimize their emissions output.

3.6 %

6.7 %

3.2 %

0 5

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1.8 %

2008

2007

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2005

AWARDS, DISTINCTIONS ANDFORWARD-LOOKING INITIATIVES:GOING THE EXTRA MILEEnvironmental certification in various markets

We are very proud of the rapid growth in the number of propertiesthat have obtained, or are about to complete, their environmentalcertification. Certification takes a great deal of hard work on the partof employees, partners and tenants and has a decisive impact onthe feeling of environmental stewardship present within the property.

Environmental certification for SITQ properties

CERTIFICATION GRANTED

LEED-CERTIFIED PROPERTIESOne Boston Place, Boston LEED-EB O&M GoldTwo Newport, Seattle (development project) Pre-certified LEED-CS SilverEighth Avenue Place, Calgary (development project) Pre-certified LEED-CS GoldSummit III, Seattle (development project) Pre-certified LEED-CS SilverTwelve other properties are currently working on theLEED-EB certification and one other on the LEED-CI.

BOMA BEST-CERTIFIED PROPERTIES1075 West Georgia, Vancouver BOMA BESt Level 1Bentall Centre I-V, Vancouver BOMA BESt Level 1Bentall Centre V, Vancouver BOMA BESt Level 3TD Square, Calgary BOMA BESt Level 1Calgary Eaton Centre/TD Canada Trust Tower, Calgary BOMA BESt Level 1College Square I and II, Mississauga BOMA BESt Level 155 University Avenue, Toronto BOMA BESt Level 1Steeles Technology Campus, Toronto BOMA BESt Level 2York Mills Centre, Toronto BOMA BESt Level 1Centre CDP Capital, Montréal BOMA BESt Level 3Place Ville Marie, Montréal BOMA BESt Level 2World Trade Centre Montréal, Montréal BOMA BESt Level 21000 De La Gauchetière, Montréal BOMA BESt Level 2Édifice Sun Life, Montréal BOMA BESt Level 3Édifice Price, Québec City BOMA BESt Level 2Édifice de la Haute-Ville, Québec City BOMA BESt Level 2Édifice Mérici, Québec City BOMA BESt Level 2

ENERGY STAR-CERTIFIED PROPERTIESUS Bank Center, SeattleFive Newport Corporate Center, Bellevue801 K Street, SacramentoWachovia Center, TampaCommonwealth Tower, Arlington1919 Pennsylvania Avenue, Washington, D.C.900 19th Street (Presidential Plaza), Washington, D.C.1 Rock Spring, North BethesdaInternational Square (3 buildings), Washington, D.C.TransPotomac 5 Plaza, Alexandria33 Arch Street, BostonOne Boston Place, Boston388 Greenwich, New YorkThree other properties are in the process of completing their Energy Star certification requirements.

LEED: Leadership in Energy and Environmental DesignLEED-EB O&M: Existing Building, Operation & MaintenanceLEED-CS: Core & ShellLEED-CI: Commercial InteriorBOMA BESt: Building Environmental StandardsSI

TQ—

SocialResponsibilityReport

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14

Participation in a major LEED initiative

In 2008, we pursued our involvement in the LEED CanadaComplete pilot project run by the Canada Green Building Council,the organization responsible for administering the CanadianLEED certification program. There are two aspects to the project:the adaptation of LEED criteria to Canadian requirements and thedevelopment of a tool covering all LEED certification programs.The final version of the pilot project report is due to be releasedin April 2009. In addition to our active participation in the workdone by the committees, two of our properties – Centre CDPCapital in Montréal and Bentall Tower V in Vancouver – havebeen part of the study.

Working with the City of Montréal to promote sustainability

We have teamed up with the City of Montréal as part of its firststrategic plan for sustainable development. As a result, we areone of the stakeholders in the action plan for the 2007-2009phase of this project designed to implement measures focusingon such areas as conserving drinking water, improving energyefficiency in office buildings and integrating sustainability intomanagement practices.

Honorary mention for SITQ’s Virage vert

As part of the 2008 Real Estate Awards of Excellence presentedby the Urban Development Institute of Québec, we were singledout for recognition for our Virage vert program, which has beenrunning smoothly at SITQ for several years now. In addition tobeing a source of pride, this honour inspires us all to keep up ourefforts toward a greener workplace.

REDUCE, REUSE, RECYCLEWide variety of materials in significant quantities

Year after year, both the volume and the variety of the materials werecycle prove to be a great source of pride for SITQ employees andtenants alike. Thanks to the programs we have set up in associationwith our partners and our deconstruction projects, we divert wastefrom landfill every single day.

As a complement to these efforts, we also recover otheritems through internal and external events and encourage ouremployees and tenants to get involved. As a result, in additionto our Éco-événement and our used computer equipment saleduring our annual Centraide campaign, we teamed up withMontréal’s Éco-quartiers for the third year in a row to collecthazardous waste and computer equipment on Earth Day.The event, which we sponsored as the exclusive private partnerfor the first time, brought in an impressive volume of materials.

Recyclables picked up in our Québec properties: Paper,paperboard, plastic, glass, metal, toner cartridges, cell phones,PDAs, computer equipment, batteries, advertising banners, lightfixtures (incandescent, neon, sodium vapour, halogen and compactfluorescent), paint, acid and wiring. As of 2008, all of the tenantsin the properties we manage in Québec can now bring us their oldcomputer equipment for recycling.

The volume of materials collected this year compared to previousyears shows that the program has reached an enviable stage ofmaturity. Based on the 2008 findings of a waste characterizationstudy conducted by Centre CDP Capital, around 89% of the materialthat can be diverted from landfill actually is. The results of thisinitiative gave rise to numerous recommendations, including theextension of the study to the rest of our Québec portfolio.

Recovery of paper, paperboard, plastic, glass and metal,2004 - 2008

1. These results are limited to the quantities recycled in theproperties we manage in Montréal. The corresponding datawas not available for our properties in Québec City.

2. These materials were added to the program in 2006.

251

249

218

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PAPE

RAN

DPA

PERB

OAR

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(kg/1

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217

100

150

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20520

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2008

2007

2006

2005

2004

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2008

2007

2006

SITQ


2008

15

SITQ


2008

16

Partnerships benefiting non-profit organizations

For our regular recycling program, we have established tieswith several non-profit and social economy organizationsspecializing in the field. Whenever possible, we try to favourthis type of partnership.

Following are some of the groups with which we have beenworking for several years:• RécupérAction Marronniers, whose employees – the majority

of whom are disabled – recycle paper, paperboard, plastic,glass and metal collected from our Montréal properties.

• Montréal Real Estate Foundation for Kids (MREFK). It hasbecome a tradition for us to donate the proceeds from thesale of the used paper and paperboard collected from ourMontréal properties to this charity devoted to meeting thereal estate needs of youth organizations. In 2008, thisamount came to $193,137.

• Mira Foundation, an organization that makes guide dogsavailable to the disabled. Our empty printer toners are set asidefor the foundation, which sells them and uses the proceeds tofund their operations.

• Groupe Plein Emploi, which administers the Étincelle project forpeople with addiction issues. Groupe Plein Emploi rebuilds cellulartelephones and PDAs collected from SITQ and our tenants.

• Atelier Scrap, which turns old ad banners into reusable bags.

Recycling through deconstructing instead of demolishing

Since 2007, our construction team has been using innovativedeconstruction techniques as an alternative to demolition whenreconfiguring space in our properties in Québec in line with ourtenants’ needs.

As a result, instead of demolishing the premises of outgoingtenants, construction materials are carefully dismantled and setaside for subsequent reuse. Other recyclable materials, such aswiring, copper and aluminum, are recovered by the projectcontractors. Any other items are sent to specialized recyclingcompanies or sorting centres for waste reclamation purposes.In 2008, some 1,680 tonnes of construction waste (drywall,wood, metal, carpet, ceiling tiles, etc.) was shipped to sortingand recycling centres and a number of architectural, electricaland mechanical components (doors, doorframes, hardware,mechanical devices, lighting fixtures, etc.) were reused in thedevelopment of premises for occupation by new tenants.

GREENER TRANSPORTATIONSITQ has launched several undertakings over the years toencourage employees and tenants to find alternatives to single-passenger motor vehicle use. In 2008, in addition to maintainingexisting initiatives, we reinforced certain partnerships to furtherboost results and offer additional support to employees andoccupants who bike to and from work.

Communauto. In 2007, we started working with Communautoand its fleet of “self-service” vehicles available for corporateusers in downtown Montréal. We offer four reduced-price parkingspaces for Communauto cars at the World Trade Centre Montréaland 1000 De La Gauchetière.

Allégo is a carpooling service run by the Agence métropolitaine detransport (AMT) and Voyagez Futé Montréal (VFM). We have beensupporting this initiative for several years now and have encouragedour employees and tenants to do the same. As of December 31,2008, 64 individuals from our properties were enrolled in theprogram in order to find carpooling partners.

Cycling. We encourage our employees and occupants to considercycling as a viable and environmentally responsible way to fulfilltheir transportation needs. In 2008, we promoted bicycle use inour Montréal properties via our intranet system and websites,brochures and information booths set up by SITQ, Voyagez FutéMontréal (VFM) and Vélo Québec. In addition, as in past years, ourSocial Club sent an SITQ contingent of some 70 employees to the2008 Montréal Bike Fest. Another way we encourage bicycle useis through contests, featuring some very attractive prizes.

• AccèsVélo program. Since 2004, we have been involved in thisAMT/VFM program, which makes 32 bicycles available free ofcharge to occupants of our properties in downtown Montréal. In2008, these bicycles were borrowed 701 times, compared to553 times in 2007. This represents an impressive jump of 27%in just one year.

• Services for cyclists at our Montréal and Québec Cityproperties. We offer 443 indoor and outdoor bicycle parkingspaces in Montréal and 97 in Québec City. In addition, many ofour properties feature showers, lockers and other amenitiesdesigned specifically to accommodate cyclists. In 2008, wecreated 50 additional bicycle parking spaces at the Centre CDPCapital (105% increase) and 19 additional spaces at the WorldTrade Centre Montréal. Further, in both properties, we integratedother special features, including new lockers and a fully stockedbicycle tuneup area.

ARMAND

MORIN

Projec

tManag

er,

Constru

ction

If you know Édifice Price, in Québec City, but have not laideyes on it recently, you’re in for a surprise. Its new lightingsystem has given it a stunning new look!

This project was carried out as part of the Capital’s LightPlan, just in time for Québec City’s 400th anniversarycelebrations. The purpose of the Plan was to highlight thebeauty of the cityscape at night, using special lights forkey landmarks. Édifice Price was selected because of itsunique Art Deco design.

“With the old system, the building was only partially lit,”explains Armand Morin, Project Manager, Construction.“The new light-emitting diode (LED) fixtures boast threetimes as many bulbs, but they are much more efficientand 10 times as durable, so the energy costs havestayed the same. The new system plays with shadowand illusion to bring attention to the building’s strikingarchitectural features.”

A “BRIGHT”TEAM!NACEV Consultants, Régis Côté Architectes, Artiluxinnovation and Schréder worked with the SITQ team,which included Armand Morin, Louis Renaud (PropertyManager) and Yves Latour (Property Administrator).The result is something of which they – and we –can all be very proud: Canada’s first LED exteriorlighting system!

NEW ENERGY-EFFICIENT EXTERNALLIGHTING SYSTEM: PUTTINGÉDIFICE PRICE IN ITS BEST LIGHT…IN MORE WAYS THAN ONE!

ActingwithSTREN

GTHto

ProtecttheEnvironment

PUTTING OUR STRENGTH TOWORK FOR THE COMMUNITY

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18

ONGOING SUPPORT FOR CHILDREN’SCHARITIESAt SITQ, we have a long-standing tradition of supporting children’scauses. The amount and diversity of our contributions in 2008 wereonce again notable this year. This includes the funds collectedthrough the Classique SITQ, our annual golf tournament benefitingseveral sick children’s organizations, and donations andsponsorships for other youth-oriented charities.

• The 2008 edition of the Classique SITQ raised $205,000for five organizations devoted to children’s health andwellness, namely the Fondation des jumelles Coudé, theCanadian Liver Foundation, the Fondation Centre decancérologie Charles-Bruneau, The Lighthouse – Childrenand Families and the Diabetic Children’s Foundation.

• We also provided financial support for other endeavoursincluding Famijeunes, the Foundation of Stars, JeunessesMusicales of Canada Foundation and Fondation Les petitstrésors.

SUPPORT FOR REAL ESTATE HERITAGE:A NATURAL CHOICEWe feel strongly about preserving Québec’s real estate heritage.We therefore provide financial support to these causes and worktoward protecting or raising awareness about our architecturallandmarks. We also take part in cultural events that allow thepublic to discover SITQ properties.

Financial contributions to specialized organizations

In 2008, we provided financial assistance to organizationsdevoted to safeguarding Québec’s real estate heritage, includingPointe-à-Callière Foundation, the Urban Development Institute ofQuébec, Héritage Montréal and Château Ramezay Museum.

AMONG THE CAUSES THAT ARE CLOSESTTO OUR HEARTS ARE CENTRAIDEAND INITIATIVES FOCUSING ON CHILDRENAND REAL ESTATE HERITAGE.But we also provide support to a wide range of organizationsand events in other spheres and are constantly on the lookoutfor additional ways to give back to the community.

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19

SITQ Award of Excellence and the Montréal ArchitecturalHeritage Campaign

In 2008, we agreed to endorse the SITQ Award of Excellence,in conjunction with the Montréal Architectural Heritage Campaign.This year’s honouree was Georges Coulombe, who has playeda key role in preserving the architectural legacy of Old Montréal.This annual activity, established by the City in 1991 in conjunctionwith Héritage Montréal, is designed to raise residents’ awarenessabout the importance of protecting this collective heritage andrecognizing the achievements of property owners in this regard.

Support for prominent cultural events

Montréal Downtown & Underground Event. Thanks to ourinvolvement in these festivities, the public was able to come to fourof our properties (Place Ville Marie, Centre CDP Capital, World TradeCentre Montréal and 1000 De La Gauchetière) to discover worksentered in our ecodesign creation competition, which we organizedin partnership with the LaSalle College International Fashion School.

Journées de la culture. SITQ once again teamed up with theCaisse de dépôt et placement du Québec for this much-anticipatedyearly event. For the 2008 edition, we worked with the Associationdes sculpteurs sur pierre de la Montérégie to present a collectionof stone sculptures at the Centre CDP Capital Parquet.

Les Concerts midi in Montréal and Québec City. For the fourthyear in a row, SITQ partnered with Les Concerts midi du Quartierinternational de Montréal, a series of free lunchtime concerts opento the public. In addition, to commemorate the 400th anniversaryof the founding of Québec City, SITQ and the Caisse de dépôt etplacement du Québec also organized a special set of musicalperformances on the grounds of city hall.

Enriching our collection of artworks

Art is important for SITQ and represents a unique way of enhancingthe aesthetic value of our properties. We hold a permanent collectionof museum pieces created from 1980 onward. In 2008, we added toour holdings with the acquisition of Iñigo Manglano-Ovalle’s Selena 1,a colour photograph laminated onto Plexiglas.

FINANCIAL AND IN-KIND SUPPORTFOR OTHER CAUSESDedicated, long-term support to Centraide

For many years, the Caisse de dépôt et placement du Québecand its real estate subsidiaries, including SITQ, have providedsupport to Centraide in order to help fight poverty in Québec ina variety of ways. Among the initiatives undertaken to back thisvery worthy cause are the following:• March of 1,000 Umbrellas, the traditional kickoff to Centraide’s

fall giving campaign, in downtown Montréal. Some 20 SITQemployees participated in the walk as a show of our support.

• Participation in the 11th RBC Challenge, organized incollaboration with SITQ. Some of our staff joined notablefigures from the world of sports and hundreds of otherparticipants for a team relay race up the thousand or sosteps to the top of Place Ville Marie. This initiative raised$65,270 for Centraide.

• Corporate and individual employee contributions. In addition totheir direct donations to Centraide, our employees came up withcreative ways of raising money directly in the workplace. Theseincluded a virtual auction for SITQ’s used computer equipment.In total, our efforts brought in $153,129 – a record since westarted supporting the organization.

Donations and sponsorships for other charities

As SITQ works with many different tenants, suppliers and businesspartners, we are often called upon to lend our support to causesthey care about. In addition, we regularly give to leading communityorganizations that fall outside of our core commitment towardchildren’s and real estate heritage causes.

Consequently, in 2008, our donation and sponsorship effortsalso included the following organizations: Fondation autismeMontréal, Fondation Marie-Vincent, Junior Achievement/Jeunesentreprises du Québec, Le Refuge des jeunes de Montréal etSclérodermie Québec. We also sponsored Canadian sabrefencing champion Sandra Sassine in her bid for glory at the2008 Olympic Games in Beijing.

Providing space to organizations in needs

With their central location and heavy pedestrian traffic, ourproperties are widely sought after for fundraising activities andevents. As a result, in addition to making office space available tocertain organizations at a special non-profit rate, we also providepublic space free of charge to select associations for one orseveral days to solicit donations, sell goods for fundraisingpurposes and hold special events such as benefits, expositionsand blood drives.

Here are a few of the organizations that received this form ofsupport in 2008 in our properties in Montréal and Québec City:Heart and Stroke Foundation of Canada, Société Parkinson du GrandMontréal, Bénévoles d’affaires, Héma-Québec (blood drives),Fondation québécoise du cancer, Mira Foundation, Fondation desAuberges du coeur, Old Brewery Mission, Arthritis Society of Canada,Métis-sur-Montréal, Équiterre, UNICEF, the Québec Breakfast Club,Médecins sans frontières, Québec Breast Cancer Foundation,The Montréal Children’s Hospital Foundation, Enfant-Retour Québec,Le Défi Gratte-Ciel (an event in which firefighters climb to the topof Place Ville Marie to raise funds for Muscular Dystrophy Canada)and the Canwest Raise-a-Reader literacy program.

Support for our employees’ volunteer commitments

We applaud the efforts of SITQ employees who dedicate theirtime and talent to charities they believe in and provide concretesupport to back their efforts through donations, sponsorships,free meeting facilities and other ways.

Partnership with Équiterre and the Maison du développement durable

Since 2006, we have been one of the organizations workingwith Équiterre to create the Maison du développement durable,an innovative green building that will be a source of inspiration forboth the real estate community and the public at large. In 2008,we continued to lend the expertise of several of our developmentand management professionals to the initiative. In addition, wesponsored Équiterre’s annual fundraising reception, which washeld at the Centre CDP Capital Parquet and which raised$35,000 for the organization.

SITQ


2008

20

VALÉRIE

DESROCHES

Director,

Prop

erty

Manag

ement

CYCLING 125 KILOMETRES:VALÉRIE DESROCHES BRINGS STRENGTH,DETERMINATION AND HOPE TO THE FIGHTAGAINST CHILDHOOD CANCERS

Before 2008, Valérie DesRoches, Director, Property Management,was a stranger to the CIBC Charles-Bruneau Tour – a four-day,600-kilometre cycling challenge benefiting the Fondation Centrede cancérologie Charles-Bruneau. She decided to sign up as a last-minute replacement for the last part of the 13th edition of the Tourin order to support the foundation’s efforts to help children livingwith cancer. But it wasn’t without her fair share of reservations.

“I was worried I wouldn’t be able to keep up with my fellowambassadors, who are all experienced cyclists,” she says. “And Ihad to start by finding a sponsor, which could have been difficultgiven the short amount of time I had. Fortunately, SITQ agreedimmediately to lend me their support.”

RIDING ON EMOTIONOnce she was on her way, despite strong head-on winds, Valériewas a force to be reckoned with. “I had the picture of the little boywe were sponsoring pinned to me. And at the end of the circuit,I ended up beside one of our tenants and his daughter. She wasin remission and was also being sponsored by our group ofambassadors. It was a very emotional moment.”

Valérie is satisfied with the results of her maiden voyage withthe CIBC Charles-Bruneau Tour and proud to have contributed tothe success of the event, which raised $700,000 – an increaseof 40% over the year before!

SUPPORTING THE STRENGTH OF PROGRESS: KNOWLEDGE

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22

SITQ UQAM-ESG REAL ESTATE CHAIROur association with this research and teaching chair at theUniversité du Québec à Montréal (UQAM) continued for a 13th yearin 2008. Through this initiative, we not only help train the nextgeneration of real estate professionals, we also contribute todeveloping state-of-the-art tools and further strengthening thereal estate industry in the province.

Once again this year, our support for the SITQ chair tookseveral forms:• An annual financial contribution of $150,000 for the next

five years.• The participation of SITQ and some of our employees in

the chair’s annual real estate forum, which this year focusedon the challenge of infrastructure in today’s cities.

• The continuation of the association launched in 2007between the SITQ UQAM-ESG Real Estate Chair and theUQAM Competency Management Chair, with a view toestablishing core competencies in our field in order to helptrain up-and-coming real estate professionals.

• The loan of the Centre CDP Capital Parquet for the launchof the book Les territoires de l’immobilier, a collection ofstudent research papers.

SITQ/UNIVERSITÉ DE MONTRÉAL URBAN ANDREAL ESTATE DEVELOPMENT OBSERVATORYWe established this observatory with the Université de Montréalin 2006. Its mission is to broaden knowledge of the relationshipbetween real estate and urban development.

In 2008, we provided $100,000 in funding to the observatory, inkeeping with a commitment undertaken in 2006 to provide this sameannual amount over a period of five years. The observatory hostedthree talks in 2008, one by Jean-Jacques Terrin on the history ofurban development in France, one by Thomas Werquin on the riseof urban projects as a result of the decline of industrial cities, andone by Robert Prost on city development issues and strategies.

SUPPORT FOR UNIVERSITY STUDENTSAND THEIR ACTIVITIESWe once again provided space in some of our properties forseveral student events. The Société de relations d’affaires HECMontréal, for one, held its 11th annual inter-university stock marketsimulation at the Centre CDP Capital Parquet, bringing togethersome 600 university students from across Québec and the restof the country. For the third year in a row, SITQ provided financialsupport for the activity, in addition to playing an active role onthe organizing committee.

We have also been offering guided tours of the Centre CDPCapital to architecture, design and other students since 2003 inorder to help them discover this architectural treasure. In 2008,nearly 360 students took advantage of this opportunity.

INTERNSHIPS AND SUMMER POSITIONSFOR STUDENTSEvery year, SITQ welcomes interns from various universities andprograms of study. With us, they acquire invaluable knowledgeand workplace experience, along with positive support and solidfeedback. This helps them improve their chances of finding arewarding job when they enter the work force. In fact, we oftenend up hiring a few of our interns on a contractual or permanentbasis once they have finished their studies.

We also offer a number of summer positions for students. Inaccordance with a policy in place since 1997, priority is given tochildren of SITQ employees. In 2008, 15 summer students werehired, nine of whom were the son or daughter of a staff member,to fill positions in maintenance, administration, marketing, humanresources and customer service.

AT SITQ, WE ARE FUNDAMENTALLYDEDICATED TO CONTRIBUTINGTO THE DEVELOPMENT OF EXPERTISE,in particular knowledge regarding the real estate industry. And given theprojected shortage of qualified professionals on the horizon, it is morecritical than ever that we pursue our efforts. That is why we work withtwo universities at the corporate level in addition to hosting internshipsand providing support for student activities at several of our properties.

SupportingtheSTREN

GTHof

Progress:Know

ledgeDENIS

PERREAULT

Vice

President,

AssetM

anag

ement

“THE NEXT GENERATION OF REAL ESTATEPROFESSIONALS REQUIRE MORE THAN ACCESSTO KNOWLEDGE, THEY NEED TO TAP INTO OUREXPERIENCE.” — DENIS PERREAULT

Denis Perreault, Vice President, Asset Management, definitely feels that tomorrow’sindustry professionals must have the opportunity to acquire specialized knowledge butalso to learn the ropes directly from experienced real estate managers, as some skillsand tricks of the trade can only be picked up as you go along. That is why initiativeslike the SITQ UQAM-ESG Real Estate Chair exist and why there are mentors like Denis.

In fact, Denis’ ties to the Chair run so deep that it is hard to say where one stopsand the other begins! He originally earned his real estate MBA through the Chairin 2000. And for the past five years, he has been a member of the SteeringCommittee of the organization in addition to having been a repeat speaker andpanelist at the chair’s annual forum. So what drives him to keep giving back?

WARDING OFF A SHORTAGE OF QUALIFIEDPROFESSIONALS“Real estate programs never used to be an option in universities,” says Denis.“You went into management, accounting, marketing or something like that. But therewas nothing specifically related to real estate. The SITQ UQAM-ESG Real Estate Chairis filling in the gap. And as a member of the Steering Committee, I have a say intothe content of the proposed programs and make sure they are as relevant aspossible, based on my own experience.”

Initiatives like these give students the benefit of experience before they evenbegin their real estate careers. It’s great for them – and it’s great for us!

SOCIAL RESPONSIBILITY AT A GLANCE

2008 2007 2006 2005 2004

ECONOMY - QUÉBECDirect jobs 325 345 339 324 331Payroll $33.8 million $28.5 million $25.6 million $22.2 million $23.9 millionAmount disbursed to suppliers $60.6 million $62.6 million $62.0 million $63.7 million -Indirect jobs (outsourced)1 425 500Customer Service Centre enquiries 93% 94% 94% 95% -answered in 10 seconds or less1

Tenant satisfaction rating1 98% - - 95% -

HUMAN RESOURCESInvestment in training 2.5% 2.5% 2.0% 3.4% 3.1%(percentage of payroll)

ENVIRONMENTPaper Challenge: 16% - - - -Reduction in paper consumptionReduction in power consumption1 3.6% 1.8% 3.2% 6.7% -LEED-certified buildings 1 (1%) - - - -Buildings undergoing LEED certification 15 (12%) - - - -BOMA BESt-certified buildings 21 (17%) - - - -Energy Star-certified buildings 15 (12%) - - - -Buildings undergoing Energy Star 3 (2%) - - - -certificationPaper/paperboard recycled2 251 249 218 217 205

kg/100 m2 kg/100 m2 kg/100 m2 kg/100 m2 kg/100 m2

Plastic, glass and metal recycled2 12.1 3.6 2.7 - -kg/100 m2 kg/100 m2 kg/100 m2

Proceeds from paper/paperboard $193,137 $209,139 $64,419 $36,485 $31,816recycling donated to the MREFK2

SITQ employees/occupants enrolled 64 128 108 10 -in the Allégo carpooling service2

AccèsVélo self-service bicycle loans2 701 579 667 853 748Parking spaces for bicycles1 540 - - - -

COMMUNITYFunds raised by the Classique SITQ $205,000 $207,000 $203,000 $215,000 $190,000for sick children’s charitiesContributions to Centraide by SITQ $153,129 $151,482 $132,064 $110,926 $81,900and individual employees

EDUCATIONContribution to the SITQ $150,000 $130,000 $130,000 $130,000 $130,000UQAM-ESG Real Estate ChairContribution to the SITQ/Université $100,000 $100,000 $100,000 - -de Montréal Urban and Real EstateDevelopment Observatory

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1. Includes all properties under management in Québec.2. Limited to properties under management in Montréal.

Published by Communications and Public Affairs Office of theVice President – Human Resources and Corporate Services SITQ,which also publishes the yearly Activity Report.

Editor: Pascal Pelletier

English translation: Shonda Secord

Graphic design and production: LXB Communication Marketing

Printing: L’Empreinte

© Copyright SITQ, 2009.

ISSN 1916-5234

This report is also available online at www.sitq.com/socialresponsibility.

To obtain additional copies or share your comments regarding this report,please contact us at: [email protected].

Le bilan est aussi disponible en français.

www.sitq.com

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