HALIFAX,
NS, June 6, 2023 /CNW/ - Killam Apartment REIT
(TSX: KMP.UN) ("Killam" or the "REIT") is pleased to announce the
release of its 2022 Environmental, Social, and Governance ("ESG")
Report, providing an overview of Killam's ESG strategies, policies, and
commitments, and highlighting the progress made.
"Our 2022 ESG report outlines our ESG initiatives, achievements,
and long-term targets, demonstrating how we integrate
sustainability into every aspect of our business" noted
Philip Fraser, President and CEO.
"We strive to create long-term value for Unitholders while making
significant contributions to our communities and the
environment."
Highlights of Killam's 2022 ESG
Report include:
- Invested $8.5 million in energy
efficiency initiatives, which includes the completion of 12 solar
photovoltaic panel installations, two geothermal systems, and 114
electric vehicle charging stations across 11 properties.
- Achieved a 2.7% reduction in like-for-like total greenhouse gas
(GHG) emissions from 2020 baseline levels.
- Reduced GHG intensity ratio by 6.7% from 2020 baseline
levels.
- Increased the number of apartment units with a long-term
affordability commitment by 160 units, resulting in a 35% increase
from 750 units at the end of 2020.
- Formed a corporate-level Climate Change Committee and conducted
analysis on Killam's physical and
transition risks and opportunities to better align with the TCFD
framework.
- Approved a formal Board Diversity and Inclusion Policy in
January 2023, which targets a minimum
of 30% female Trustees and a commitment to ensuring racial, ethnic,
or visible minority diversity on the Board by 2025-26.
Killam's 2022 ESG Report can be
found by visiting our website at www.killamreit.com.
About Killam Apartment
REIT
Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential real estate
investment trusts, owning, operating, and developing a $4.9 billion portfolio of apartments and
manufactured home communities. Killam's strategy is to enhance value and
profitability by focusing on three priorities: 1) increasing
earnings from existing operations, 2) expanding the portfolio and
diversifying geographically through accretive acquisitions, with an
emphasis on newer properties, and 3) developing high-quality
properties in its core markets.
Note: The Toronto Stock Exchange has neither approved nor
disapproved of the information contained herein. Certain statements
in this press release may constitute forward-looking statements and
forward looking information (collectively, "forward-looking
statements"), including within the meaning of applicable securities
law. In some cases, forward-looking statements can be identified by
the use of words such as "may", "will", "should", "expect", "plan",
"anticipate", "believe", "estimate", "potential", "continue",
"target", "commit", "priority", "remain", "strategy", "future" or
the negative of these terms or other comparable terminology, and by
discussions of strategies that involve risks and uncertainties.
Such forward looking statements include statements regarding
Killam's ESG initiatives and
targets, and Killam's priorities.
Readers should be aware that these statements are subject to known
and unknown risks, uncertainties and other factors that could cause
actual results to differ materially from those anticipated or
implied, or those suggested by any forward-looking statements,
including: competition; global, national and regional economic
conditions, including inflationary pressures; and the availability
of capital to fund further investments in Killam's business. The forward-looking
statements contained in this press release are expressly qualified
by this cautionary statement.
SOURCE Killam Apartment Real Estate Investment Trust