AvalonBay Communities Issues Latest Corporate Responsibility Report
Company Makes Significant Progress Toward 2020 Goals
ARLINGTON, Va.--(BUSINESS WIRE)-- AvalonBay Communities, Inc. (NYSE: AVB) today announced the release of its 2015 Corporate Responsibility (CR) Report. In addition to summarizing the Company’s environmental, social and governance performance for calendar year 2015, the report also shows the Company’s progress against its 2020 CR goals.
“We are bringing our corporate responsibility initiatives to scale, and making significant progress toward achieving our 2020 CR goals,” said Timothy J. Naughton, Chairman and CEO of AvalonBay. “We continue to focus on producing measurable outcomes that create value for all of our stakeholders and that drive more transparency in our environmental and social impacts. In 2015, we were pleased to be named a Global Real Estate Sustainability Benchmark (GRESB) sector leader and a recipient of the NAREIT Leader in the Light Award for achievements in sustainability. In addition, our Building Strong Communities philanthropy program supports non-profit organizations focused on disaster relief, affordable housing, and support for the disadvantaged.”
AvalonBay’s notable 2015 CR achievements include:
|
• 4.7% decrease in water use intensity (gallons per apartment home) |
|
|
• 5.9% decrease in energy use intensity (kilowatts per square foot) |
|
|
• 11 new LEED or Energy Star certifications, including the Company’s first LEED Platinum community |
|
|
• 22 apartment communities pursuing LEED or Energy Star certifications as of year-end, and a total of 28 communities having achieved an environmental certification across the portfolio |
|
|
• $1.1 million in cash and in-kind donations to 25 regional philanthropy partners and continuation of four-year $1 million commitment to the American Red Cross |
|
The Company’s progress toward its 2020 goals includes:
| 2020 Goals | Progress to Date From Baseline | ||||
|
• Reduce energy use intensity (EUI) and water use intensity (WUI) by 15% |
EUI down 7.4%, WUI down 6.3% | ||||
|
• Increase Net Promoter Score (the company’s key customer metric) by 33% |
Increased 20% | ||||
|
• Achieve 75th percentile or better associate engagement compared to the approximately 400 companies surveyed by IBM Kenexa |
In the 90th percentile | ||||
|
• Increase the Company’s contribution to the communities in which we work and live to $2.2 million annually (cash and in-kind) |
At 50% of goal | ||||
Additional details, including definitions of the metrics described above, can be found in our 2015 CR Report.
About AvalonBay Communities, Inc.
AvalonBay is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in the leading metropolitan areas 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. As of March 31, 2016, the Company owned or held a direct or indirect ownership interest in 282 apartment communities containing 83,049 apartment homes in 10 states and the District of Columbia, of which 24 communities were under construction and 11 communities were under reconstruction. 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.
Copyright © 2016 AvalonBay Communities, Inc. All Rights Reserved
View source version on businesswire.com: http://www.businesswire.com/news/home/20160711006000/en/
AvalonBay Communities, Inc.
Mark Delisi
cr@avalonbay.com
Source: AvalonBay Communities, Inc.
Released July 11, 2016