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AvalonBay Communities Issues Latest Corporate Responsibility Report

Company Release - 7/9/2019 4:15 PM ET

Company Announces Approved Science Based Targets and Inclusion on 100 Best Corporate Citizens List

ARLINGTON, Va.--(BUSINESS WIRE)-- AvalonBay Communities, Inc. (NYSE: AVB) today announced the release of its 2018 Corporate Responsibility (CR) Report. In addition to summarizing the Company’s environmental, social and governance performance for calendar year 2018, the report also shows the Company’s progress against its 2020 CR goals.

“We are proud to continue leading the way with our environmental, social and governance programs and our adoption of Science Based Targets that were recently approved by the Science Based Targets initiative. This year we were pleased to again be recognized by CR Magazine as one of the 100 Best Corporate Citizens and by Glassdoor as one of the 100 Best Places to Work in the U.S.,” said Timothy J. Naughton, Chairman and CEO of AvalonBay. In 2018, 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 of Corporate Responsibility, stated that “With our approved Science-Based Targets and commitment to renewable energy, we are establishing AvalonBay as a leader in our sector and supporting the communities where we do business as they work to tackle climate change, reduce emissions and move to a low-carbon future. In addition, our Building Strong Communities philanthropy program achieved another record year of support to non-profit organizations focused on disaster relief, affordable housing, and support for at-risk populations.”

AvalonBay’s notable 2018 Corporate Responsibility achievements include:

  • Establishing science-based emissions reduction targets, recently approved by the Science Based Targets initiative.
  • $2.3 million in annual energy savings from LED lighting retrofits
  • 6 LEED-certified new development communities and 34 LEED or Energy Star certifications in process as of year-end, bringing the total properties achieving or pursuing certification to 83. We also received our first Fitwel, healthy buildings certification, in 2018.
  • $2.1 million in cash and in-kind donations to 60+ regional philanthropy partners including year four of a four-year $1 million total commitment to the American Red Cross.
  • Renewal of our partnership with the American Red Cross for another $1 million over four years
  • 84 blood drives and 1,703 pints of blood for the American Red Cross
  • 14,600 AvalonBay associate volunteer hours, a 33% increase over 2017.

Additional details can be found in our 2018 Corporate Responsibility Report.

About AvalonBay Communities, Inc.

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine 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. More information about AvalonBay’s Corporate Responsibility program can be found here. Complete copies of AvalonBay’s current and past annual CR Reports can be found here.

Mark Delisi
Vice President
Corporate Responsibility
AvalonBay Communities, Inc.
703-317-4707

Source: AvalonBay Communities, Inc.