AvalonBay Communities Issues Latest Corporate Responsibility Report
ARLINGTON, Va.--(BUSINESS WIRE)--Jul 9, 2018--AvalonBay Communities, Inc. (NYSE: AVB) today announced the release of its 2017 Corporate Responsibility (CR) Report. In addition to summarizing the Company’s environmental, social and governance performance for calendar year 2017, the report also shows the Company’s progress against its 2020 CR goals.
“We continue our industry-leading environmental, social and governance programs. This year we were pleased to be recognized by CR Magazine as the only multi-family Real Estate Investment Trust in the magazine’s 100 Best Corporate Citizens list and by Glassdoor as one of the Top 100 companies to work for in the U.S.,” said Timothy J. Naughton, Chairman and CEO of AvalonBay. For 2017 AvalonBay received an “A” rating in ESG public disclosure by the Global Real Estate Sustainability Benchmark (GRESB) which also ranked the Company as a four-star sector leader. Mark Delisi, AvalonBay’s Vice President – Corporate Responsibility, noted that “We made significant progress on our environmental initiatives designed to increase net operating income, reduce utility costs and lower greenhouse gas emissions. In addition, our Building Strong Communities philanthropy program achieved a record year of support to non-profit organizations focused on disaster relief, affordable housing, and support for at-risk populations.”
AvalonBay’s notable 2017 CR achievements include:$2,000,000 in annual energy savings from LED lighting retrofits 7 new development communities achieving LEED certifications and 27 LEED or Energy Star certifications in process as of year-end, bringing the total properties achieving or pursuing certification to 70 $1.95 million in cash and in-kind donations to 60+ regional philanthropy partners which includes year four of our four-year $1 million commitment to the American Red Cross 1,757 pints of blood donated to the American Red Cross, a 73% increase over the prior year A 19% increase in associate volunteer participation Establishment of our first-ever waste reduction goal to decrease landfill-bound waste by 20% by 2023
The Company’s progress toward its 2020 goals includes:
Additional details, including definitions of the metrics described above, can be found in our 2017 CR Report.
About AvalonBay Communities, Inc.
As of March 31, 2018, the Company owned or held a direct or indirect ownership interest in 288 apartment communities containing 84,162 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development and 15 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 primarily 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.
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CONTACT: AvalonBay Communities, Inc.
KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA
INDUSTRY KEYWORD: OTHER CONSUMER PHILANTHROPY PROFESSIONAL SERVICES REIT FINANCE OTHER PHILANTHROPY CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE CONSUMER
SOURCE: AvalonBay Communities, Inc.
Copyright Business Wire 2018.
PUB: 07/09/2018 04:15 PM/DISC: 07/09/2018 04:15 PM