Allied Announces GRESB Score and Key ESG Achievements and Opportunities
October 18 2022 - 7:25AM
Allied Properties Real Estate Investment Trust (“Allied”)
(TSX:AP.UN) today announced its GRESB score and key ESG
achievements and opportunities.
In 2018, Allied’s Board and Management committed
to the public scrutiny of its ESG performance by submitting to an
annual GRESB assessment and publishing an annual ESG Report. Since
the initial GRESB assessment, Allied’s score has continued to
progress, demonstrating consistent improvement in Allied’s ESG
performance. Similarly, Allied’s annual ESG Report has consistently
increased its disclosure to include prevailing sustainability
frameworks, as well as ESG goals, targets and metrics.
In 2019, Allied’s GRESB score was 64, which was
recognized as a “strong first-year showing.” Allied’s second annual
GRESB score was 80, representing material progress in multiple
areas over the initial assessment. For the 2021 reporting year,
Allied’s GRESB score was 86, demonstrating steady improvement. In
addition to strengths, the assessment identified clear
opportunities to advance Allied’s ESG practices and disclosure.
In 2021, the following initiatives contributed
to Allied’s improved ESG performance:
- Allied established 2024 portfolio
reduction targets for greenhouse gas (GHG) emissions, energy, water
and waste consumption, with a 2019 baseline year.
- Four ESG goals were added to
Allied’s Corporate Scorecard, linking executive officer
compensation directly to Allied’s ESG priorities.
- Allied delivered on a number of
actions that support Equity, Diversity and Inclusion (EDI).
Notably, baseline employee diversity metrics were established and
disclosed. Allied also maintained one-third female representation
on its Board. Female representation on Allied’s board has since
increased to 50%.
Allied is committed to continuously improving
its ESG performance in a manner that authentically reflects the
organization’s values and the needs of its constituents. Below are
initiatives that Allied is committed to advancing as part of its
continued ESG progress:
- Transitioning Allied’s portfolio to
net zero carbon and enhancing Allied’s physical and transitional
climate risk strategy. Allied is committed to doing its part to
address the global climate crisis. Currently, Allied is developing
a pathway to achieve net zero carbon across its portfolio in
alignment with the Science Based Targets initiative's (SBTi)
Corporate Net-Zero Standard V1.0.
- Formalizing equitable and
sustainable supply chain management practices in accordance with
leading standards. Allied recognizes its opportunity to deliver
positive impacts by collaborating with its suppliers to meet and
exceed relevant ESG standards.
- Establishing meaningful actions to
support truth and reconciliation in Canada. Allied understands its
responsibility and opportunity to contribute to better relations
between Indigenous and non-Indigenous peoples, right historical
wrongs, and create communities that reflect the visions and values
of the original stewards of Turtle Island.
- Supporting Allied’s users in
achieving shared ESG goals. Allied recognizes the tremendous
potential of its community to advance ESG by learning and working
in partnership.
Allied’s Board and Management are committed to
making Allied’s approach to ESG more manifest, deliberate and
measurable. Allied has always believed that submitting to informed
scrutiny will make it a better and more successful business, and
formally submitting to ESG scrutiny is no exception in this
regard.
ABOUT ALLIED
Allied is a leading operator of distinctive
urban workspace in Canada’s major cities and network-dense UDC
space in Toronto. Allied’s mission is to provide knowledge-based
organizations with workspace and UDC space that is sustainable and
conducive to human wellness, creativity, connectivity and
diversity. Allied’s vision is to make a continuous contribution to
cities and culture that elevates and inspires the humanity in all
people.
CAUTIONARY STATEMENTS
This press release may contain forward-looking
statements with respect to (i) Allied, (ii) its operations,
strategy, financial performance and condition and (iii) the
implementation of certain elements of its ESG strategy contemplated
in this press release. These statements generally can be identified
by use of forward looking words such as “may”, “will”, “expect”,
“estimate”, “anticipate”, “intends”, “believe” or “continue” or the
negative thereof or similar variations. The actual results and
performance of Allied discussed herein could differ materially from
those expressed or implied by such statements. Such statements are
qualified in their entirety by the inherent risks and uncertainties
surrounding future expectations, including that the transactions
contemplated herein are completed and have the expected impact on
funding and earnings. Important factors that could cause actual
results to differ materially from expectations include, among other
things, general economic and market conditions, competition,
changes in government regulations and the factors described under
“Risk Factors” in Allied’s Annual Information Form, which is
available at www.sedar.com. These cautionary statements qualify all
forward-looking statements attributable to Allied and persons
acting on Allied’s behalf. Unless otherwise stated, all
forward-looking statements speak only as of the date of this press
release and the parties have no obligation to update such
statements.
FOR FURTHER INFORMATION, PLEASE
CONTACT:
Michael R. EmoryPresident & Chief Executive
Officer(416) 977-9002memory@alliedreit.com
Cecilia C. WilliamsExecutive Vice President
& Chief Financial Officer(416)
977-9002cwilliams@alliedreit.com
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