LTC Publishes Inaugural Environmental, Social and Governance (ESG) Report
March 16 2023 - 12:59PM
Business Wire
-- 2022 Report Highlights LTC’s Key
Achievements, Policies and Performance --
LTC Properties, Inc. (NYSE: LTC), a real estate
investment trust that primarily invests in seniors housing and
health care properties, today announced the publication of its
inaugural Environmental, Social and Governance (ESG) report titled,
“People. Planet. Purpose.” The report shares information about
LTC’s activities and future goals, highlighting the Company’s key
achievements, policies and performance.
In its 2022 ESG report, LTC renewed its commitment to building
long-term, sustainable value for its stakeholders, and making a
meaningful, positive impact on its community. Over the past year,
in addition to adopting new policies and procedures for the Company
itself, LTC initiated programs to assist the operators of its
properties in identifying and implementing sustainable business
solutions that positively benefit the environment and society, as
well as their financial sustainability.
Selected activities to date for each of the primary ESG
categories include:
Environmental
- Began “greening” new and amended operator leases and enhanced
underwriting criteria to include ESG;
- Implemented third-party tools for analyzing, tracking, and
reporting environmental data; and
- Purchased carbon offsets for employee travel and corporate
headquarters.
Social
- Adopted and published a Human and Labor Rights Policy and Human
Capital Policy;
- Conducted employee engagement surveys to solicit input on a
wide range of workplace topics; and
- Adopted select United Nations Sustainable Development
Goals.
Governance
- Established a Board-level ESG Committee and internal ESG
working group;
- Augmented its proxy disclosure to highlight ESG initiatives;
and
- Enhanced its Cybersecurity policy, monitoring, disclosure, and
training.
Cornelia Cheng, an LTC Board member and Chair of its ESG
Committee, commented, “We learned so much through our development
of this report, allowing us to put into practice policies and
procedures to further align the execution of our business strategy
with ESG principles that are most relevant to our industry. In the
coming year, we look forward to building on that which we have
already achieved to measure and advance our commitment to people,
planet and purpose.”
LTC noted several ongoing ESG initiatives including, among
others, increasing energy efficiency, participation in the opt-in
California Clean Power Alliance Program, ensuring an environment in
which respect, collaboration, dignity, transparency are paramount,
and enhancing governance practices among all stakeholders including
employees, operators, investors, analysts, and industry.
“We value the diversity of the unique individuals who constitute
our team – from entry level to senior level to our Board, seeking
out and embracing individuals who bring diverse thoughts,
backgrounds, skill sets, experiences, and talents. These unique
perspectives have guided us and led us to explore new
opportunities,” said Wendy Simpson, LTC’s Chairman and CEO. “From
an operator perspective, LTC is focused on creating healthy
environments where they can best provide the services their
residents need to live their best lives. For LTC, operating with
the highest standards of ethics and integrity has always been a
core tenet of our culture and business, and we plan to continue on
a path that allows us to steadfastly move in the right direction
with a strong sense of hope and purpose for the future for us and
all of our stakeholders.”
LTC’s ESG report is available online at
www.ltcreit.com/esg-report/.
About LTC Properties
LTC is a real estate investment trust (REIT) investing in
seniors housing and health care properties primarily through
sale-leasebacks, mortgage financing, joint-ventures and structured
finance solutions including preferred equity and mezzanine lending.
LTC’s investment portfolio includes 213 properties in 29 states
with 31 operating partners. Based on its gross real estate
investments, LTC’s investment portfolio is comprised of
approximately 50% seniors housing and 50% skilled nursing
properties. Learn more at www.LTCreit.com.
This press release includes statements that are not purely
historical and are “forward-looking statements” within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
including statements regarding the Company’s expectations, beliefs,
intentions or strategies regarding the future. All statements other
than historical facts contained in this press release are forward
looking statements. These forward-looking statements involve a
number of risks and uncertainties. All forward looking statements
included in this press release are based on information available
to the Company on the date hereof, and the Company assumes no
obligation to update such forward looking statements. Although the
Company’s management believes that the assumptions and expectations
reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have
been correct. The actual results achieved by the Company may differ
materially from any forward-looking statements due to the risks and
uncertainties of such statements.
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Mandi Hogan (805) 981-8655
LTC Properties (NYSE:LTC)
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