Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Diversity, Equity and Inclusion (DEI)
• Corporate Governance

Environmental Achievements

• Incorporated a sustainability clause into 50% of new retail leases executed in the first three quarters of 2021.
• On track to complete LED upgrades for parking lot lighting at substantially all existing assets by the end of 2022 (85% complete).
• Installed rooftop solar panels at Cortlandt Crossing in Westchester County, NY, adding a new income stream.

Social Achievements

• 56% of the company and 30% of the management team are female; 25% of the company and 21% of the management team are racially and ethnically diverse.
• Launched a cross-departmental mentoring program for new hires and an internal Women’s Network.
• Continued summer internship program, partnering with Sponsors for Educational Opportunity (SEO) and the ICSC Foundation Launch Academy.
• Headquarters equipped with a wellness room and benefits include paid parental leave.

Governance Achievements

• Received the 2021 NAREIT Gold Investor Care award for the third consecutive year.
• One-third of Acadia’s Board identify as women or ethnically diverse.
• Successfully transitioned leadership following the departure of the Chief Operating Officer.

Climate Goals & Targets

Environmental Challenges

• Inflation, COVID-19 variants, and political and geopolitical conflict.
• Material weakness in internal control over financial reporting resulting in the restatement of 2020 and 2019 financial statements.

Mitigation Strategies

• Well-located portfolio with strong growth potential and a well-positioned team.
• Taking steps to remediate the material weakness in internal control over financial reporting.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Catastrophic weather and other natural events
• Physical effects of climate change

Reporting Standards

Frameworks Used: TCFD, SASB, GRI

Awards & Recognition

• 2021 NAREIT Gold Investor Care award

Environmental Metrics

ESG Focus Areas

• Corporate Governance, Business Integrity and Anti-Corruption
• Adding Value to Communities
• Data Security
• Human Rights
• Diversity, Equity and Inclusion
• Health and Safety
• Culture and Employee Engagement
• GHG Emissions and Climate Change Resilience
• Energy Use
• Water Use
• Sustainable Operations

Environmental Achievements

• Reduced GHG emissions by 13% since 2019 baseline (as of December 31, 2022), on track for 20% reduction by end of 2024.
• Completed upgrades to parking lot LED lighting and smart lighting and irrigation controls at substantially all properties with landlord-controlled common areas.
• Named a 2022 Green Lease Leader Gold by the Institute for Market Transformation and the U.S. Department of Energy’s Better Buildings Alliance.
• Improved due diligence process for new acquisitions to evaluate climate change risks.
• Conducted an annual climate change risk assessment of existing portfolio.
• Actively negotiating leases for solar projects and electric vehicle charging stations.

Social Achievements

• Launched Acadia Ambassadors Program for new hires.
• Relaunched Acadia Women’s Network Speaker Series.
• Donated to a local school in every community where properties were acquired in 2022.
• Hosted community events at properties, raising funds for charitable organizations (e.g., over $30,000 for an animal rescue program).
• 2023 summer intern class was 33% diverse (gender and/or ethnic or racial diversity).

Governance Achievements

• Added three independent Trustees to the Board, two representing gender or racial and/or ethnic diversity.
• Received the 2023 NAREIT Investor Care award for the 6th consecutive year.

Climate Goals & Targets

Environmental Challenges

• Climate change risks (physical risks like coastal windstorms, flooding, extreme heat; transition risks like regulations and customer demand).

Mitigation Strategies

• Increased insurance, physical measures (waterproofing), maximizing energy and water efficiency, renewable energy projects, monitoring regulations, analyzing customer demand changes.

Supply Chain Management

Supplier Audits: Analysis of 18 key suppliers

Responsible Procurement

• Focus on long-standing relationships, especially with local and family-owned providers.

Climate-Related Risks & Opportunities

Physical Risks

• Coastal windstorms
• Flooding
• Extreme heat, drought, wildfires

Transition Risks

• Regulations
• Customer demand

Opportunities

• Efficiency upgrades
• Renewable energy
• Customer demand

Reporting Standards

Frameworks Used: TCFD, SASB, GRI, UN SDGs

Third-party Assurance: DNV

UN Sustainable Development Goals

• UN SDG 7 (Affordable and Clean Energy)
• UN SDG 8 (Decent Work and Economic Growth)
• UN SDG 9 (Industry, Innovation and Infrastructure)
• UN SDG 11 (Sustainable Cities and Communities)
• UN SDG 13 (Climate Action)

Acadia's ESG strategy and goals are aligned with these UN SDGs.

Awards & Recognition

• 2022 Green Lease Leader Gold
• 2023 NAREIT Investor Care award (6th consecutive year)
• 2019 Outstanding Achievement in Land Use Award (Rye, NY headquarters)

Environmental Metrics

ESG Focus Areas

• Reduce Scope 1 and 2 GHG emissions
• Energy efficiency
• Renewable energy
• Climate change resiliency
• Inclusion and belonging
• Philanthropic giving and community service
• Employee satisfaction, engagement, advancement and wellness
• Strong governance, ethics and stewardship policies
• Board governance of ESG
• Third-party assurance of environmental performance data

Environmental Achievements

• 29% reduction in Scope 1 & 2 GHG emissions from 2019 baseline by year-end 2023
• 45% of electricity consumed in common areas in 2023 was from renewable sources
• 100% completion of LED lighting and smart control upgrades at eligible assets owned as of 2020

Social Achievements

• Doubled the pool of diverse vendors participating in the Property Management vendor bid process from 2022 to 2023
• Hosted 50+ community events at properties in 2023
• Certified as A Great Place To Work every year since 2020

Governance Achievements

• Welcomed three new Trustees since 2021, two of whom represent gender or ethnic and/or racial diversity
• Received the 2023 NAREIT Investor CARE award for the sixth consecutive year

Climate Goals & Targets

Environmental Challenges

• Coastal windstorms
• Flooding
• Extreme heat, drought, wildfire
• Regulations
• Customer demand

Mitigation Strategies

• Increased insurance
• Physical measures such as waterproofing systems
• Maximizing energy and water efficiency
• Monitoring exposure to laws and regulations
• Analyzing climate-related risks during acquisitions

Supply Chain Management

Responsible Procurement

• Locally and regionally sourced suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Coastal windstorms
• Flooding
• Extreme heat, drought, wildfire

Transition Risks

• Regulations

Opportunities

• Reduce operating costs
• Increase revenues through renewable energy projects
• Improve resilience
• Increased customer demand

Reporting Standards

Frameworks Used: GRI, SASB, TCFD

Certifications: Green Lease Leader Gold (2022-2024)

Third-party Assurance: DNV Business Assurance USA, Inc.

UN Sustainable Development Goals

• Goal 7
• Goal 13

Awards & Recognition

• Outstanding Achievement in Land Use Award (2019)
• NAREIT Investor CARE award (6 consecutive years)