TORONTO, Oct. 18, 2022 (GLOBE NEWSWIRE) — Allied Properties Real Estate Investment Trust (“Allied”) (TSX:AP.UN) right this moment introduced its GRESB rating and key ESG achievements and alternatives.
In 2018, Allied’s Board and Management dedicated to the general public scrutiny of its ESG efficiency by submitting to an annual GRESB evaluation and publishing an annual ESG Report. Since the preliminary GRESB evaluation, Allied’s rating has continued to progress, demonstrating constant enchancment in Allied’s ESG efficiency. Similarly, Allied’s annual ESG Report has persistently elevated its disclosure to incorporate prevailing sustainability frameworks, in addition to ESG objectives, targets and metrics.
In 2019, Allied’s GRESB rating was 64, which was acknowledged as a “strong first-year showing.” Allied’s second annual GRESB rating was 80, representing materials progress in a number of areas over the preliminary evaluation. For the 2021 reporting yr, Allied’s GRESB rating was 86, demonstrating regular enchancment. In addition to strengths, the evaluation recognized clear alternatives to advance Allied’s ESG practices and disclosure.
In 2021, the next initiatives contributed to Allied’s improved ESG efficiency:
- Allied established 2024 portfolio discount targets for greenhouse fuel (GHG) emissions, power, water and waste consumption, with a 2019 baseline yr.
- Four ESG objectives have been added to Allied’s Corporate Scorecard, linking government officer compensation on to Allied’s ESG priorities.
- Allied delivered on quite a lot of actions that help Equity, Diversity and Inclusion (EDI). Notably, baseline worker variety metrics have been established and disclosed. Allied additionally maintained one-third feminine illustration on its Board. Female illustration on Allied’s board has since elevated to 50%.
Allied is dedicated to constantly enhancing its ESG efficiency in a way that authentically displays the group’s values and the wants of its constituents. Below are initiatives that Allied is dedicated to advancing as a part of its continued ESG progress:
- Transitioning Allied’s portfolio to internet zero carbon and enhancing Allied’s bodily and transitional local weather threat technique. Allied is dedicated to doing its half to handle the worldwide local weather disaster. Currently, Allied is growing a pathway to attain internet zero carbon throughout its portfolio in alignment with the Science Based Targets initiative’s (SBTi) Corporate Net-Zero Standard V1.0.
- Formalizing equitable and sustainable provide chain administration practices in accordance with main requirements. Allied acknowledges its alternative to ship constructive impacts by collaborating with its suppliers to fulfill and exceed related ESG requirements.
- Establishing significant actions to help fact and reconciliation in Canada. Allied understands its accountability and alternative to contribute to raised relations between Indigenous and non-Indigenous peoples, proper historic wrongs, and create communities that replicate the visions and values of the unique stewards of Turtle Island.
- Supporting Allied’s customers in reaching shared ESG objectives. Allied acknowledges the super potential of its neighborhood to advance ESG by studying and working in partnership.
Allied’s Board and Management are dedicated to creating Allied’s method to ESG extra manifest, deliberate and measurable. Allied has all the time believed that submitting to knowledgeable scrutiny will make it a greater and extra profitable business, and formally submitting to ESG scrutiny isn’t any exception on this regard.
ABOUT ALLIED
Allied is a number one operator of distinctive city workspace in Canada’s main cities and network-dense UDC area in Toronto. Allied’s mission is to offer knowledge-based organizations with workspace and UDC area that’s sustainable and conducive to human wellness, creativity, connectivity and variety. Allied’s imaginative and prescient is to make a steady contribution to cities and tradition that elevates and evokes the humanity in all individuals.
CAUTIONARY STATEMENTS
This press launch might comprise forward-looking statements with respect to (i) Allied, (ii) its operations, technique, monetary efficiency and situation and (iii) the implementation of sure parts of its ESG technique contemplated on this press launch. These statements typically may be recognized by use of ahead trying phrases resembling “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the destructive thereof or comparable variations. The precise outcomes and efficiency of Allied mentioned herein may differ materially from these expressed or implied by such statements. Such statements are certified of their entirety by the inherent dangers and uncertainties surrounding future expectations, together with that the transactions contemplated herein are accomplished and have the anticipated impression on funding and earnings. Important components that would trigger precise outcomes to vary materially from expectations embrace, amongst different issues, common financial and market circumstances, competitors, adjustments in authorities laws and the components described underneath “Risk Factors” in Allied’s Annual Information Form, which is out there at www.sedar.com. These cautionary statements qualify all forward-looking statements attributable to Allied and individuals performing on Allied’s behalf. Unless in any other case said, all forward-looking statements converse solely as of the date of this press launch and the events haven’t any obligation to replace such statements.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Michael R. Emory
President & Chief Executive Officer
(416) 977-9002
[email protected]
Cecilia C. Williams
Executive Vice President & Chief Financial Officer
(416) 977-9002
[email protected]
