AvalonBay Communities, Inc. (AVB) - Get AvalonBay Communities, Inc. Report today announced the release of its 2019 Corporate Responsibility (CR) Report. In addition to summarizing the Company's environmental, social and governance (ESG) performance for calendar year 2019, the report also shows the Company's progress against its 2020 CR goals, introduces new ESG targets beyond 2020 and includes a summary of support provided for AvalonBay's associates and residents during the COVID-19 pandemic.
"We are proud to continue leading the way with our environmental, social and governance programs. This year we were pleased to again be recognized by 3BL Media as one of the 100 Best Corporate Citizens and by Glassdoor as one of the 100 Best Places to Work in the U.S. I am also honored to join over 1,000 CEOs in signing the CEO Action for Diversity & Inclusion™ ( CEO Action) pledge," said Timothy J. Naughton, Chairman and CEO of AvalonBay. The CEO Action pledge commits AvalonBay to taking action in support of a more inclusive workplace for employees, communities and society at large. This follows up on a recent letter to associates, where Mr. Naughton addressed how AvalonBay is committing to building a more diverse workplace.
In 2019, AvalonBay was named the Global and U.S. Leader in the Residential Sector by the Global Real Estate Sustainability Benchmark (GRESB) and received the 2019 NAREIT Residential Leader in the Light Award. The Company also received an A- grade from the Carbon Disclosure Project (CDP) for our carbon emission mitigation practices.
Mark Delisi, AvalonBay's Vice President of Corporate Responsibility and Energy Management, stated that "Our focus in 2019 to set approved science-based emissions targets stakes out a strong leadership position in reducing our emissions and driving toward a low-carbon future. In addition, we are creating meaningful social change with our inclusion and diversity efforts and our Building Strong Communities philanthropy program. We will continue to lead in the integration of ESG into how we do business for the betterment of all our stakeholders."
AvalonBay's notable 2019 Corporate Responsibility achievements include:
- Establishing science-based emissions reduction targets, approved by the Science Based Targets initiative.
- $3.1 million in annual energy savings from LED lighting retrofits
- Progress on our renewable energy strategy, with 1.1 Megawatts of solar installed and another 7.8 Megawatts in design and under construction
- 50 environmentally certified communities to-date and 39 LEED, Energy Star or Fitwel certifications in process as of year-end
- Expanding our Inclusion & Diversity team and launching new programs, including bias awareness training
- $2.2 million in cash and in-kind donations to regional philanthropy partners and the American Red Cross, reaching our 2020 goal
- 93 blood drives and 1,702 pints of blood for the American Red Cross
- 51% of AvalonBay associates volunteering over 14,200 hours to our non-profit partners
Additional details can be found in our 2019 Corporate Responsibility Report.
About AvalonBay Communities, Inc.
As of March 31, 2020, the Company owned or held a direct or indirect ownership interest in 296 apartment communities containing 86,596 apartment homes in 11 states and the District of Columbia, of which 19 communities were under development. 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.
About CEO Action for Diversity & Inclusion™
About CEO Action for Diversity & Inclusion™ CEO Action for Diversity & Inclusion™ is the largest CEO-driven business commitment to advance diversity and inclusion within the workplace. Bringing together more than 1,000 CEOs of America's leading organizations, the commitment outlines actions that participating companies pledge to take to cultivate a workplace where diverse perspectives and experiences are welcomed and respected, employees feel comfortable and encouraged to discuss diversity and inclusion, and where best known—and unsuccessful—actions can be shared across organizations. Learn more at CEOAction.com and connect with us on Twitter: @CEOAction
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