FivePoint Holdings, LLC and its affiliated entities (collectively, “FivePoint”)¹ are developing certain residential and commercial projects in Los Angeles County for which FivePoint is required to implement thirteen mitigation measures designed to avoid, reduce and mitigate 100% of each project’s GHG emissions (“Net-Zero GHG Program”).²

The Net-Zero GHG Program has been quantified, documented, and approved by the California Department of Fish and Wildlife (“CDFW”) in a certified Environmental Impact Report (“EIR”) prepared under the California Environmental Quality Act.³ The EIR analyzed the development project’s potential impact on climate change based on comprehensive modeling and analysis performed by Ramboll, a leading technical expert, utilizing the agency-recommended model (CalEEMod). The EIR evaluated the feasibility of achieving zero net GHG emissions based on the thirteen identified measures within the Net-Zero GHG Program. The data and documentation substantiating the Net-Zero GHG Program were subject to public review and comment, as well the independent technical analysis and review by CDFW, in consultation with the California Air Resources Board (“CARB”), California’s expert agency on climate change. CARB independently evaluated the Net-Zero GHG Program and determined that the development project “will not result in any net additional greenhouse gas emissions.”⁴ CDFW also found that with the Net-Zero GHG Program “the Project would feasibly and reliably achieve net zero GHG emissions.”⁵

FivePoint’s compliance with the Net-Zero GHG Program is ensured through the approved Mitigation, Monitoring and Reporting Program, which is subject to oversight and enforcement by CDFW and Los Angeles County.

1. Affiliated entities include, without limitation, The Newhall Land and Farming Company (A California Limited Partnership) and Stevenson Ranch Venture, LLC.
2. Specifically, FivePoint’s applicable development projects in Los Angeles County include multiple villages located within and immediately proximate to the Newhall Ranch Specific Plan, in northwest Los Angeles County, west of Interstate 5 and the City of Santa Clarita.
3. See Newhall Ranch Resource Management and Development Plan and Spineflower Conservation Plan Final EIR and Additional Environmental Analysis, State Clearinghouse No. 2000011025.
4. See Newhall Ranch Resource Management and Development Plan and Spineflower Conservation Plan Final EIR and Additional Environmental Analysis, State Clearinghouse No. 2000011025, Appendix 1, California Air Resources Board, Letter from Richard Corey, Executive Officer, to Chuck Bonham, Director, California Department of Fish and Wildlife November 3, 2016.
5. See CDFW, Final Actions and Supplemental Findings of the California Department of Fish and Wildlife for the Newhall Ranch Resource Management and Development Plan and Spineflower Conservation Plan, p. 14, June 14, 2017.