Climate Change Data

AvalonBay Communities, Inc.

Climate Impact & Sustainability Data (2016, 2019, 2021)

Reporting Period: 2016

Environmental Metrics

Scope 1 Emissions:63,407 Metric Tons CO2e
Scope 2 Emissions:102,927 Metric Tons CO2e
Scope 3 Emissions:309 Metric Tons CO2e
Water Consumption:11,543,186 m³
Waste Generated:18,748 Metric Tons

ESG Focus Areas

  • Environmental

Climate Goals & Targets

Environmental Challenges

  • Fugitive release of refrigerant gas; and Combustion emissions from burning diesel fuel in emergency generators.
  • AvalonBay waste generation data is currently gathered at the corporate level for only 80% of their properties

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: World Resources Institute (WRI) and World Business Council for Sustainable Development (WBCSD) GHG Protocol, 2017 GRESB Real Estate Reference Guide

Third-party Assurance: Lloyd’s Register Quality Assurance Inc. (LRQA)

Reporting Period: 2019

Environmental Metrics

Total Carbon Emissions:121,790 tCO2e/year
Scope 1 Emissions:22,146 tCO2e/year
Scope 2 Emissions:58,531 tCO2e/year
Scope 3 Emissions:5,667 tCO2e/year
Renewable Energy Share:Not disclosed
Total Energy Consumption:198,252 MWh/year
Water Consumption:11,504,326 m3/year
Waste Generated:92,258 tons/year
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Greenhouse Gas Emissions
  • Energy Consumption
  • Water Consumption
  • Waste Generation

Environmental Achievements

  • Reduced Scope 1, 2, and 3 GHG emissions (quantified in the report)

Social Achievements

  • Not disclosed

Governance Achievements

  • Not disclosed

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Data discrepancies between different data sources (Energy Star, Measurabl, utility bills)
  • Inaccurate coding of renewable energy consumption and RECs in Measurabl
  • Incomplete Scope 1 energy and GHG emissions data for some properties
  • Discrepancy in waste coverage percentage between GRESB report and internal data
Mitigation Strategies
  • Provided revised Data Quality Report with correct data
  • Worked with Measurabl to correct coding in their system
  • Confirmed that properties with little to no Scope 1 data were primarily electric
  • Updated documentation with accurate waste coverage calculation

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: WRI/WBCSD GHG Protocol, GRESB Real Estate Reference Guide

Certifications: Null

Third-party Assurance: LRQA, Inc.

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2021

Environmental Metrics

Scope 1 Emissions:15156.03 tCO2e/year
Scope 2 Emissions:46200.43 tCO2e/year (location-based), 33786.2 tCO2e/year (market-based)
Scope 3 Emissions:36869 tCO2e/year (waste), 132751 tCO2e/year (purchased goods and services), 994 tCO2e/year (fuel and energy), 5135.54 tCO2e/year (employee commuting), 201945 tCO2e/year (downstream leased assets), 64 tCO2e/year (business travel)
Renewable Energy Share:91% of procurable electric load (2021)
Total Energy Consumption:250026.51 MWh/year
Waste Generated:1639 lbs/apartment home
Carbon Intensity:0.0000217 metric tons CO2e per unit currency total revenue

ESG Focus Areas

  • Climate Change
  • Environmental Sustainability
  • Social Responsibility
  • Governance

Environmental Achievements

  • Reduced energy costs by $3.8M annually through LED lighting retrofits.
  • Installed solar on 23 communities, adding 4.7 MW of renewable power.
  • Achieved 59.78% of the target for Scope 1 & 2 emissions intensity reduction (53% target by 2030).

Social Achievements

  • Launched a Green Label Program to highlight energy and water savings in new apartment homes.
  • Expanded partnerships with organizations like the American Red Cross for disaster preparedness.
  • Continued efforts to improve water efficiency, saving $1.2M and 143M gallons of water in 2021.

Governance Achievements

  • Established board-level oversight of climate-related issues through the Nominating, Governance, and Corporate Responsibility Committee.
  • Linked executive compensation to ESG performance, including GRESB score.
  • Implemented a comprehensive climate and emissions risk dashboard for investment decisions.

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions (target year not specified, but aiming for within the next 2-5 years)
Medium-term Goals:
  • Achieve 53% reduction in Scope 1 & 2 emissions intensity by 2030.
  • Achieve 47% reduction in Scope 3 emissions intensity by 2030.
  • Reduce waste to 1631 lbs/apartment home by 2023.
Short-term Goals:
  • Reduce water consumption (various initiatives)
  • Increase renewable energy use (solar, PPAs)

Environmental Challenges

  • Compliance with increasingly stringent emissions regulations (e.g., New York's Local Law 97).
  • Potential financial impacts from acute and chronic physical climate risks (flooding, storms, wildfires).
  • Managing embedded carbon in construction materials.
Mitigation Strategies
  • Developed a climate and emissions risk dashboard to inform investment and asset management decisions.
  • Invested in energy efficiency projects (LED lighting, HVAC upgrades, insulation).
  • Developed a strategy to reduce embedded carbon in construction materials, including piloting embodied carbon tracking.

Supply Chain Management

Supplier Audits: 37 key suppliers audited in 2021

Responsible Procurement
  • Responsible Supply Chain Principles incorporated into 100% of supplier contracts.

Climate-Related Risks & Opportunities

Physical Risks
  • Pluvial flooding
  • Fluvial flooding
  • Hurricanes
  • Wind
  • Tornadoes
  • Earthquakes
  • Tidal flooding
  • Extreme heat
  • Extreme rainfall
  • Extreme drought
  • FEMA NRI
  • Tsunami
  • Wildfire
Transition Risks
  • Increasingly stringent emissions regulations
  • Potential carbon pricing mechanisms
Opportunities
  • Energy efficiency improvements
  • Renewable energy generation
  • Reduced water consumption
  • Lower embedded carbon in construction materials

Reporting Standards

Frameworks Used: Science Based Targets initiative, GRESB

Third-party Assurance: LRQA (Limited assurance)

Sustainable Products & Innovation

  • High-density, environmentally preferable housing
  • Energy-efficient building systems
  • Onsite renewable energy generation (solar)