AvalonBay Communities, Inc. Named 2022 Global and Regional Sector Leader by GRESB
October 24 2022 - 4:15PM
Business Wire
AVALONBAY COMMUNITIES, INC. (NYSE: AVB) (the “Company”),
a leading developer, manager and owner of apartment communities in
the United States, today announced that it has been named the
top-performing multifamily company among its peers as both a Global
and a Regional Sector Leader by the Global Real Estate
Sustainability Benchmark (GRESB) in its 2022 Real Estate
Assessment. For the second time, AvalonBay also earned a 5-Star
Rating, the highest achievement level recognized by GRESB.
"We integrate ESG efforts into all aspects of our business, and
we’re proud to receive this highest recognition from GRESB
acknowledging our commitment to and leadership in ESG and
sustainability. At AvalonBay, we understand and are driven by a
strong belief that our actions, both big and small, contribute to
creating a better way to live for all people, the places where we
live and work, and the planet at large,” said Benjamin Schall, CEO
of AvalonBay.
Earlier this year AvalonBay issued its eleventh annual ESG
report summarizing the Company’s ESG accomplishments and activities
for calendar year 2021 and highlighting progress towards its
long-term ESG goals. These goals include the Company’s 2030
science-based targets to reduce Scope 1 and 2 greenhouse gas
emissions by 53% and Scope 3 emissions by 47%. Having made this
commitment in 2019, AvalonBay was the first and remains the only
publicly-traded multifamily REIT in our GRESB peer group with
established science-based targets that have been fully approved by
the Science Based Targets initiative.
“We are very pleased that our climate change and emissions
reduction efforts and investments are making an impact and that our
broader ESG initiatives are producing results and being recognized
by GRESB,” said Katie Rothenberg, Vice President ESG at AvalonBay.
“It is a testament to the over 3,000 AvalonBay associates working
each day to create a better way to live by supporting programs that
help address environmental sustainability as well as meaningful
change through our inclusion and diversity efforts and our Building
Strong Communities philanthropy program. Being recognized as
industry leaders is an honor, and we look forward to the continued
evolution and growth of our ESG program.”
The GRESB Real Estate Assessment is the global standard for ESG
benchmarking and reporting for listed property companies, private
property funds, developers and investors that invest directly in
real estate. Each year, GRESB assesses and benchmarks the ESG
performance of assets worldwide, providing clarity and insights to
financial markets on complex sustainability topics. The GRESB
Assessments are guided by what investors and the industry consider
to be material issues in the sustainability performance of asset
investments and align with international reporting frameworks,
goals, and emerging regulations. GRESB data is used by hundreds of
capital providers and thousands of asset managers to benchmark
investments across portfolios and to better understand the
opportunities, risks and choices that need to be made as the
industry transitions to a more sustainable future.
“GRESB Sector Leaders are the top-performing organizations
leading the way to a net-zero future and pulling the industry
forward. We applaud this year’s Sector Leaders for their
commitment, leadership, and dedication to ESG and sustainability,”
said Sebastien Roussotte, CEO of GRESB.
About AvalonBay Communities, Inc.
As of June 30, 2022, the Company owned or held a direct or
indirect ownership interest in 299 apartment communities containing
89,037 apartment homes in 12 states and the District of Columbia,
of which 17 communities were under development and two 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 Northern and Southern California, as well as in the
Company's expansion markets of Raleigh-Durham and Charlotte, North
Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver,
Colorado. More information may be found on the Company’s website at
http://www.avalonbay.com. Complete copies of AvalonBay’s current
and past annual ESG Reports can be found here.
About GRESB
GRESB is a mission-driven and industry-led organization
providing standardized and validated Environmental, Social, and
Governance (ESG) data to financial markets. Established in 2009,
GRESB has become the leading ESG benchmark for real estate and
infrastructure investments across the world, used by more than 170
institutional and financial investors to inform decision-making.
For more information, visit GRESB.com.
Copyright © 2022 AvalonBay Communities, Inc.
All Rights Reserved
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Jason Reilley Vice President Investor Relations AvalonBay
Communities, Inc. 703-317-4681
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