Preferred Apartment Communities, Inc. Publishes Inaugural Environmental, Social and Governance Report
May 12 2022 - 2:03PM
Business Wire
Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the
"Company") today announced that it has published its inaugural
Environmental, Social and Governance (ESG) Report. While ESG values
have long been core to the Company’s business practices, this
publication provides a comprehensive overview of PAC’s ESG efforts,
both for the Company’s core operations and for PAC’s broader real
estate portfolio.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220512005847/en/
(Graphic: Business Wire)
In addition to providing quantitative results for calendar year
2021, PAC’s ESG report provides insights into the Company’s
strategic focus and purposeful approaches to corporate
responsibility regarding PAC’s own operations and community impact
as well as the operations and impacts of the residents and tenants
across PAC’s portfolio.
“While we have featured Environmental, Social and Governance
information on our website for some time now, we are excited to
share our ESG efforts and successes through this formal ESG Report.
This is a key focus of our Board and entire team, and we are
committed to all aspects of corporate responsibility, for our
stakeholders, communities, and the broader world,” stated Joel T.
Murphy, PAC’s Chairman and Chief Executive Officer.
This inaugural ESG Report reflects the ongoing commitment from
PAC’s senior leadership team to corporate responsibility, and the
work of the Company’s ESG Committee. Members of the Committee
include: John Isakson, Chief Financial Officer; Mike Cronin, Chief
Accounting Officer; Paul Cullen, Executive Vice President, Investor
Relations; Ginger Park, Chief Accounting Officer - Retail; Michael
Mangrum, Director of Internal Audit; and Jared Seff, SVP, Deputy
General Counsel and Assistant Corporate Secretary.
Environmental
Core areas of Environmental focus include reducing energy and
water consumption at the property operations and resident and
tenant levels, improving waste management and recycling programs,
and encouraging the use of reduced-emissions transportation
options.
Key highlights include:
- Use of reclaimed or retained water for landscape irrigation
across properties where feasible
- Annual irrigation audits across multifamily properties to
ensure responsible water usage
- 60% of properties in PAC’s portfolio are fully equipped with
LED lighting and PAC is evaluating additional installation across
remaining properties
- Initial installation of EV charging stations at select
properties with expansion plans
Social
On the Social front, PAC’s people remain the Company’s most
valuable asset, and PAC is investing it its team and communities
through workforce development, health and wellness, and community
involvement programs.
Key highlights include:
- Established a Diversity, Equity and Inclusion (DE&I)
committee with a mission and vision statement to drive DE&I
efforts
- PAC was named a Top Workplace in Atlanta by the Atlanta Journal
Constitution for five consecutive years
- PAC was rated as the top multifamily REIT nationwide by J
Turner’s Online Reputation Assessment two years in a row
- PAC participated in volunteer and philanthropic efforts with
organizations such as the Atlanta Community Food Bank, Toys for
Tots, Breast Cancer Awareness, the American Heart Association, the
March of Dimes, and the Andrew P. Stewart Center
Governance
Corporate Governance has long been an area of strength for the
Company. PAC operates under a Code of Business Conduct and Ethics
dedicated to maintaining the highest integrity and standards of
ethics, and PAC’s Board of Directors has developed and adopted
Corporate Governance Guidelines to promote the functioning of the
Board and its committees.
Accessing the Report
This Environmental, Social and Governance Report follows the
SASB Reporting Guidelines, which represents the industry gold
standard for corporate ESG reporting. Readers can access the
digital version of the report by clicking [here].
About Preferred Apartment Communities, Inc.
Preferred Apartment Communities, Inc. (NYSE: APTS) is a real
estate investment trust engaged primarily in the ownership and
operation of Class A multifamily properties, with select
investments in grocery anchored shopping centers. Preferred
Apartment Communities’ investment objective is to generate
attractive, stable returns for stockholders by investing in
income-producing properties and acquiring or originating
multifamily real estate loans. As of March 31, 2022, the Company
owned or was invested in 113 properties in 13 states, predominantly
in the Southeast region of the United States. Learn more at
www.pacapts.com.
Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements may be identified by the use of forward-looking
terminology such as "may", "trend", "will", "expects", "plans",
"estimates", "anticipates", "projects", "intends", "believes",
"goals", "objectives", "outlook" and similar expressions. Because
such statements include risks, uncertainties and contingencies,
actual results may differ materially from the expectations,
intentions, beliefs, plans or predictions of the future expressed
or implied by such forward-looking statements. PAC undertakes no
obligation to update these forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events, except as may be required by
law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220512005847/en/
Preferred Apartment Communities, Inc. John A. Isakson
770-818-4109 Chief Financial Officer Email:
jisakson@pacapts.com
Preferred Apartment Communities, Inc. Paul Cullen 770-818-4144
Executive Vice President-Investor Relations Email:
InvestorRelations@pacapts.com
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