Climate Change Data

Comstock

Climate Impact & Sustainability Data (2021, 2022, 2023)

Reporting Period: 2021

Environmental Metrics

ESG Focus Areas

  • Environmental Sustainability
  • Social Responsibility
  • Governance

Environmental Achievements

  • Multiple assets are LEED and Energy Star certified; initiatives underway to obtain additional certifications.
  • Expanding electronic vehicle charging stations and bike racks to reduce congestion, emissions, and carbon footprint.
  • Reston Station awarded Best Workplaces for Commuters in 2020 and 2021.

Social Achievements

  • Hosting community events in public spaces.
  • Supporting local organizations through charitable events and partnerships.
  • Employing a diverse workforce (152 full-time and 9 part-time employees as of December 31, 2021).
  • Providing employees with comprehensive benefits and wellness initiatives.

Governance Achievements

  • Established corporate governance guidelines and policies, including a code of conduct and code of ethics.
  • Investing in cybersecurity to protect business systems and data; no material publicly reportable information security incidents in 2021.

Climate Goals & Targets

Environmental Challenges

  • COVID-19 pandemic affected the real estate industry, causing disruptions and uncertainties.
  • Highly competitive real estate asset management and services industry with larger competitors having greater resources.
Mitigation Strategies
  • Employees implemented precautions and protocols to maintain operations safely during the pandemic.
  • Focus on properties that generate stable, recurring cash flows; mixed-use and transit-oriented assets in high-growth areas; leveraging development capabilities for public-private partnerships; growing supplemental asset management services.

Supply Chain Management

Responsible Procurement
  • Plan to engage supply chain to incorporate sustainable designs, materials, and systems.

Climate-Related Risks & Opportunities

Awards & Recognition

  • Best Workplaces for Commuters (Reston Station)

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • Energy Management
  • Diversity, Equity, & Inclusion
  • Community Engagement
  • ESG Compliance & Reporting
  • Health & Safety

Environmental Achievements

  • All buildings at Reston Metro Plaza LEED silver or above
  • The Hartford Building in Arlington LEED gold certified
  • Energy Star Certified The Hartford Building in addition to buildings at Reston Metro Plaza
  • Commerce District Green Cleaning Use environmentally-friendly practices and low toxicity cleaning products
  • Highly rated MERV Air Filtration Systems
  • Smoke Free Buildings
  • Basalt Rebar Exploration
  • Low Emitting Building Materials & Enhanced Refrigerant Management
  • Non Corrosive and Non Toxic Ice Melt
  • Electric Charging Stations
  • Bike Racks, Bike Repair Rooms and Bike Share Program
  • Transit-oriented projects
  • Achieved Energy Star certification at 1900 Reston Metro Plaza, Commerce Four, and the Hartford Building
  • Achieved LEED certification at BLVD Reston Station
  • LED light retrofit throughout all common areas at BLVD Commons (Loudoun Station Phase I)
  • Reston Row is expected to utilize approximately 500,000 cubic yards of concrete using CarbonCure. We will divert approximately 5 million pounds of carbon, the equivalent of 258,000 gallons of gasoline NOT being burned.

Social Achievements

  • Foster collaboration, support, and innovation that provides all employees the opportunity to achieve their professional and wellness goals.
  • Commitment to creating open and inclusive environments that are welcoming to all and we honor and respect the spirit and the letter of Equal Employment Opportunity laws.
  • Developing and managing all WDU’s in the same manner as our market rate units.
  • Significant cash donations to organizations that support families in need of affordable housing.
  • Annual Flu Shot and COVID vaccine offered onsite at select locations
  • On-site fitness centers and bike storage, and close proximity to regional biking and walking trails
  • Air Filters building automation systems that monitor temperature, carbon dioxide, and air quality determinants
  • Water Bottle Filler systems being implemented at Reston Row
  • Major League quality indoor baseball training facility constructed by the Company in Reston Station and operated by a professional baseball training academy where local high school and little league teams schedule year-round indoor practice, conditioning clinics, and skills training at no cost
  • Comstock’s Arts Program supports public arts by weaving public art throughout its neighborhoods from world-renowned artists, as well as local artists
  • Wellness/Fitness Challenges
  • Flu Shot and COVID Vaccine Programs
  • 2022 Care Awards Winner
  • 2022 Best Workplaces for Commuters
  • 735+ hours of e-learning completed in 2022 by team members
  • Work Visa Sponsorship
  • Legal Permanent Residence Status

Governance Achievements

  • Independent Board of Directors
  • Independent Audit and Compensation Committee
  • Independent director meetings without management
  • Annual independent Audit Meeting with company’s independent auditor
  • Corporate Governance Guidelines
  • Code of Conduct
  • Code of Ethics for CEO and Senior Financial Officers
  • Policy on Insider Information and Insider Trading
  • Whistleblowers Policy
  • Executive Compensation Recoupment Policy
  • Corporate Opportunity and Related Party Policy
  • Stock Ownership Guidelines
  • Investment Approval Policy for Financial Transactions

Climate Goals & Targets

Medium-term Goals:
  • Achieve LEED certification levels for all new developments. Achieve LEED Silver for all residential buildings and LEED Gold certification for office buildings.
  • Build to BOMA 360 and Energy Star building certifications for new buildings.
  • Partner with suppliers to lower emissions and align with applicable carbon neutrality goals, such as CarbonCure.
  • Work with design professionals to evaluate smart building systems, recommend appropriate systems to Senior Management and implement approved design.
  • Plan new developments to achieve high walk, bike and transit scores.
Short-term Goals:
  • Achieve Energy Star certification at three properties
  • Achieve LEED certification at two properties
  • Achieve BOMA 360 at three properties
  • Electronic recycling at all buildings in April for Earth Day
  • Continue to track energy and waste usage on Mach Energy to reduce usage
  • Complete LED retrofit at BLVD Commons by Q1 2023
  • Select a partner to complete utility and equipment audits at all residential properties
  • Partner with Goby to identify action steps and costs, including capital, for healthy building certifications. BLVD Gramercy East has the potential to pursue Fitwel.

Supply Chain Management

Responsible Procurement
  • Engaging the supply chain to incorporate sustainable designs, materials, and systems

Climate-Related Risks & Opportunities

Awards & Recognition

  • Best Workplaces for Commuters in 2020, 2021, and 2022

Reporting Period: 2023

Environmental Metrics

ESG Focus Areas

  • ESG Compliance & Reporting
  • Governance
  • Energy Management
  • Environmental
  • Diversity, Equity, & Inclusion
  • Community Engagement
  • Health & Safety
  • Social

Environmental Achievements

  • All buildings at Reston Metro Plaza LEED silver or above
  • The Hartford Building in Arlington LEED gold certified
  • Energy Star Certified The Hartford Building in addition to buildings at Reston Metro Plaza
  • 1902 Reston Metro Plaza LEED gold certified in 2023
  • Renewed Energy Star Certification at 1900 Reston Metro Plaza, Commerce Four, the Hartford Building and 43777 Central Station.
  • Achieved LEED O+M for Existing Buildings at 1900 Reston Metro Plaza and the Hartford Building.
  • Achieved BOMA 360 at Commerce Four
  • Held the annual electric recycling tenant event and collected approximately 5,000 pounds of electronic equipment.
  • Installed seven EV Chargers throughout Reston and Loudoun Station
  • Partnered with Conservice Sustainability Solutions to track energy and water usage at properties.
  • Completed LED retrofit throughout BLVD Commons.

Social Achievements

  • Employees are able to submit feedback anonymously 24/7.
  • Increased the number of recruitment resources to attract a larger pool of candidates.
  • Implemented a new Applicant Tracking System (Pinpoint) to streamline the application and onboarding process.
  • Attended 7 career fairs at local community colleges and universities.
  • Partnership with the 2023 Future Housing Leaders Summer Program.
  • Created a partnership with various local colleges, especially NVCC.
  • Health Risk Assessment, $1,000 Wellness Bonus, Wellness/ Fitness Challenges, Flu Shot and COVID Vaccine Programs, 401(K) Financial Diversity Training for All Employees, 834+ hours of e-learning completed in 2023 by team members, Mindfulness Webinar, WORK VISA SPONSORSHIP

Governance Achievements

  • Independent Board of Directors
  • Independent Audit and Compensation Committee
  • Independent director meetings without management
  • Annual independent Audit Meeting with company’s independent auditor
  • Corporate Governance Guidelines, Code of Conduct, Code of Ethics for CEO and Senior Financial Officers, Policy on Insider Information and Insider Trading, Whistleblowers Policy, Executive Compensation Recoupment Policy, Corporate Opportunity and Related Party Policy, Stock Ownership Guidelines, Investment Approval Policy for Financial Transactions

Climate Goals & Targets

Medium-term Goals:
  • Achieve LEED certification levels for all new developments. Achieve LEED Silver for all residential buildings and LEED Gold certification for office buildings.
  • Build to BOMA 360 and Energy Star building certifications for new buildings.
  • Partner with suppliers to lower emissions and align with applicable carbon neutrality goals, such as CarbonCure.
  • Work with design professionals to evaluate smart building systems, recommend appropriate systems to Senior Management and implement approved design.
  • Plan new developments to achieve high walk, bike and transit scores.
Short-term Goals:
  • Achieve and/or renew Energy Star Certification at up to six properties.
  • Achieve LEED O+M Existing Building Certification at up to two additional properties.
  • Achieve BOMA 360 Certification at up to three additional properties.
  • Perform electronic recycling at all properties in April in recognition of Earth Day.
  • Continue to track energy, water and waste in an effort to reduce usage.
  • Submit all eligible properties for Energy Star Certification.
  • Submit all eligible properties for IREM Certified Sustainable Building certification.
  • Provide reporting on energy, water, and GHG from data collected on the Conservice platform.
  • Develop communication strategies for residents on waste management plans.
  • Install additional EV chargers to promote EV adoption among residents.

Supply Chain Management

Responsible Procurement
  • Engaging the supply chain to incorporate sustainable designs, materials, and systems

Climate-Related Risks & Opportunities

Awards & Recognition

  • Best Workplaces for Commuters in 2020, 2021, 2022, and 2023