22/07/2024 | Press release | Distributed by Public on 22/07/2024 20:20
Company Announces Release of 2023 Environmental, Social, Governance (ESG) Report and Progress Towards ESG Goals
ARLINGTON, Va.--(BUSINESS WIRE)-- AVALONBAY COMMUNITIES, INC. (NYSE: AVB) (the "Company") announced the release of its thirteenth annual Environmental, Social and Governance (ESG) Report, summarizing the Company's corporate sustainability accomplishments and activities for calendar year 2023 and highlighting progress towards its long-term ESG goals.
"I am proud to share AvalonBay's thirteenth ESG Report, showcasing our steadfast commitment to the value that environmental, social, and governance programs bring to our stakeholders, including our associates, residents, partners, shareholders, and lenders," said Benjamin W. Schall, CEO and President of AvalonBay. "AvalonBay is pleased to be a leader in this arena, underscoring our belief that proactively managing ESG matters will drive long-term commercial success and fulfill our corporate purpose of creating a better way to live."
AvalonBay continues to be recognized as a corporate sustainability leader in the real estate industry by maintaining its "A" rating from MSCI and "A-" rating from CDP, being listed as one of Newsweek's America's Most Responsible Companiesfor the fifth consecutive year, and receiving the Green Lease Leader Gold award from the Institute for Market Transformation for the first time. Additionally, AvalonBay was once again listed on Forbes' Top 100 List of Net Zero Leaders, representing the only multifamily REIT to make the list and ranking third for all real estate companies.
Katie Rothenberg, Vice President of ESG, stated, "By incorporating meaningful environmental, social, and governance activities into all aspects of our operations, we are building stronger communities and addressing a major business imperative. Our 2023 ESG achievements reinforce our commitment to a comprehensive corporate sustainability strategy that engages key internal and external stakeholders, drives impact, and minimizes risk across the enterprise."
AvalonBay's notable 2023 ESG achievements include:
Additional details can be found in our 2023 ESG Report.
(1) Leadership team is defined as director-level associates and above.
About AvalonBay Communities, Inc.
As of March 31, 2024, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,673 apartment homes in 12 states and the District of Columbia, of which 17 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 in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado. More information may be found on the Company's website at https://www.avalonbay.com. Complete copies of AvalonBay's current and past annual ESG Reports can be found here.
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Jason Reilley
Vice President
Investor Relations
AvalonBay Communities, Inc.
703-317-4681
Source: AvalonBay Communities, Inc.
Released July 22, 2024