AvalonBay Communities Issues Latest Corporate Responsibility Report
July 10 2017 - 4:15PM
Business Wire
Company Makes Significant Progress Toward
2020 Goals
AvalonBay Communities, Inc. (NYSE: AVB) today announced the
release of its 2016 Corporate Responsibility (CR) Report. In
addition to summarizing the Company’s environmental, social and
governance performance for calendar year 2016, the report also
shows the Company’s progress against its 2020 CR goals.
“Our commitment to industry leading environmental, social and
governance programs is resulting in significant progress toward our
2020 CR goals, including achieving our customer-focused goal (Net
Promoter Score) four years earlier than expected,” said Timothy J.
Naughton, Chairman and CEO of AvalonBay. “Our environmental and
social initiatives are creating value for all of our stakeholders
and support our purpose of creating a better way to live. In 2016,
we were pleased to be named once again as a Global Real Estate
Sustainability Benchmark (GRESB) sector leader and Corporate
Partner of the Year from the Equal Rights Center for our efforts to
provide accessible apartments for disabled residents. In addition,
our Building Strong Communities philanthropy program supports
non-profit organizations focused on disaster relief, affordable
housing, and support for the disadvantaged.”
AvalonBay’s notable 2016 CR achievements include:
- $1,000,000 in annual energy savings
from LED lighting retrofits
- $219,000 in anticipated annual savings
and 350 metric ton reduction in GHG emissions following the
installation of the Company’s largest cogeneration system ever
- 9 new LEED certifications and 22
apartment communities pursuing LEED or Energy Star certifications
as of year-end, bringing the total communities achieving or
pursuing certification to 61 across the portfolio
- $1.4 million in cash and in-kind
donations to 58 regional philanthropy partners including a
continuation of our four-year $1 million commitment to the American
Red Cross
- 1,017 pints of blood donated to the
American Red Cross, potentially saving over 3,000 lives
- 16% increase in associate volunteer
participation
The Company’s progress toward its 2020 goals includes:
2020 Goals Progress to
Date From Baseline Reduce energy use intensity (EUI) and water use
intensity (WUI) by 15% EUI down 10.9%, WUI down 6.3%
Increase Net Promoter Score (the company’s key customer metric) by
33% Increased 47% and goal achieved 3 years early
Achieve 75th percentile or better associate engagement compared to
the approximately 400 companies surveyed by IBM Kenexa
In the 90th percentile Increase the Company’s contribution
to the communities in which we work and live to $2.2 million
annually (cash and in-kind) At 64% of goal
Additional details, including definitions of the metrics
described above, can be found in our 2016 CR Report.
About AvalonBay Communities, Inc.
As of March 31, 2017, the Company owned or held a direct or
indirect ownership interest in 284 apartment communities containing
82,533 apartment homes in 10 states and the District of Columbia,
of which 24 communities were under development and nine communities
were under redevelopment. The Company is an equity REIT in the
business of developing, redeveloping, acquiring and managing
apartment communities in leading metropolitan areas in New England,
the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific
Northwest, and the Northern and Southern California regions of the
United States. More information may be found on the Company’s
website at http://www.avalonbay.com. Complete copies of
AvalonBay’s current and past annual CR Reports can be found
here.
Copyright © 2017 AvalonBay Communities, Inc.
All Rights Reserved
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170710006204/en/
AvalonBay Communities, Inc.Mark Delisi,
703-317-4707cr@avalonbay.com
Avalonbay Communities (NYSE:AVB)
Historical Stock Chart
From Aug 2024 to Sep 2024
Avalonbay Communities (NYSE:AVB)
Historical Stock Chart
From Sep 2023 to Sep 2024