Crescent Point is committed to conducting our business in a manner that minimizes the impact on the air, land and water surrounding our operations. We continually look to implement practices and technologies that enhance our environmental performance. Since the inception of our company, we have contributed $175 million to a fund dedicated to environmental restoration, ongoing emissions reduction and end-of-life abandonment. We plan to set aside approximately $24 million for this fund in 2017.
We voluntarily report our emissions and water use annually to CDP.
Eighth Avenue Place
In 2014, Crescent Point moved its head office in Calgary to the LEED certified Eighth Avenue Place building managed by Hines. Since becoming a tenant, we have actively engaged with the building regarding climate change mitigation strategies. Our early initiatives included ensuring that water filtration systems were installed in multiple locations on every floor to reduce, and eventually eliminate, the use of bottled water. We also changed our coffee systems to reusable pods and worked closely with the building to ensure easy and efficient recycling collection. Last year, we made the switch from biodegradable plates and cutlery in our office kitchens to reusable products, drastically reducing the amount of waste generated.
In early 2017, we engaged Hines in a collaborative project to develop a composting program for our office, a first for the building. We have begun work to receive regular reports of the breakdown of our office waste, recycling and compost in an effort to monitor the success of these programs and plan to have this in place by the end of the year.