AvalonBay Communities Issues Latest Corporate Responsibility Report
14 July 2021 - 6:15AM
Business Wire
Company Announces Release of 2020 ESG
Report, Progress with Science Based Targets and Support Provided
During the COVID-19 Pandemic
AvalonBay Communities, Inc. (NYSE: AVB) today announced the
release of its 2020 Corporate Responsibility (CR) Report. In
addition to summarizing the Company’s environmental, social and
governance (ESG) performance for calendar year 2020, 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, residents and the
greater community during the COVID-19 pandemic.
“The COVID-19 pandemic, the downturn in the economy, and
widespread racial and social unrest certainly tested each of us as
individuals and AvalonBay more broadly as a company throughout
2020,” said Timothy J. Naughton, Chairman and CEO of AvalonBay.
“With all the disruption, it was still a year full of progress, and
I am grateful to our associates, business partners and residents
who continued to help us lead the way in ESG, work together to
navigate the pandemic, and contribute to the collective pursuit of
social equality and a more just world.”
In 2020, AvalonBay was again named the Global and U.S. Leader in
the Residential Sector by the Global Real Estate Sustainability
Benchmark (GRESB) and received the 2020 NAREIT Residential Leader
in the Light Award. The Company also received an A- grade and was
named a Supplier Engagement Leader by CDP for our carbon emission
reporting and climate mitigation practices.
Mark Delisi, AvalonBay’s Vice President of Corporate
Responsibility and Energy Management, stated that “During a year of
so much disruptive change, we came together as a Company to
continue to advance our ESG goals. We increased our environmental
efforts related to emissions reduction and climate mitigation, and
we doubled our support of our non-profit partners when the pandemic
hit, providing essential support to their clients. Finally, we made
significant and lasting strides with our Inclusion and Diversity
efforts, including our new Diversity in Leadership goals and
partnership with the National Urban League. This was a year that
truly showed how our purpose, Creating a Better Way to Live, is at
the center of all we do at AvalonBay.”
AvalonBay’s notable 2020 Corporate Responsibility achievements
include:
- Driving progress on our science-based emissions reduction
targets, with a 15.4% reduction in Scope 1 and 2 emissions and a
16% reduction is Scope 3 emissions (per square-foot).
- Aligning our CR reporting with both the Sustainability
Accounting Standards Board (SASB) and the Taskforce on
Climate-related Financial Disclosures (TCFD)
- Progress on our renewable energy strategy, with 1.1 Megawatts
of solar installed and another 7.8 Megawatts in design and under
construction
- 60 environmentally certified communities to-date and 36 LEED,
Energy Star or Fitwel certifications in process as of year-end
- Setting new goals to achieve gender parity1 and increase
underrepresented minorities in leadership2 by 2025.
- Launching a new multi-year national partnership with the
National Urban League that combines our Inclusion and Diversity
strategy with our Building Strong Communities philanthropy
program
- Creation of three new Associate Resource Groups (Black
Associate Coalition, Associate Rainbow Coalition and Latinx
Employees of AvalonBay for Diversity) to join our existing Women’s
Leadership Network
- $2.4 million in cash and in-kind donations to regional
philanthropy partners and the American Red Cross, including
$450,000 of additional COVID-19 specific support
- A new Vacation Donation Program to accompany our Associate
Relief Fund, which both provide support to our associates
experiencing hardship
Additional details can be found in our 2020 Corporate
Responsibility Report.
- Please note that parity is defined as achieving a level within
+/-2% of the available workforce (currently 41%) as documented by
third-party resources by level, function and geography. Source:
Derived using TalentNeuron (which uses Census NAICS industry codes,
years of experience, education, and 65K sources of data including
Census, job boards, proprietary database and Gartner
Insights).
- Leadership is defined as director-level associates and
above.
About AvalonBay Communities, Inc.
As of March 31, 2021, the Company owned or held a direct or
indirect ownership interest in 290 apartment communities containing
85,787 apartment homes in 11 states and the District of Columbia,
of which 15 communities were under development and one community
was under redevelopment. 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, Southeast
Florida, Denver, Colorado, the Pacific Northwest, and Northern and
Southern California. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210713005866/en/
Mark Delisi Vice President, Corporate Responsibility AvalonBay
Communities, Inc. CR@avalonbay.com
Avalonbay Communities (NYSE:AVB)
Historical Stock Chart
From Apr 2024 to May 2024
Avalonbay Communities (NYSE:AVB)
Historical Stock Chart
From May 2023 to May 2024