Apartment Income REIT Corp. (AIR Communities)
Climate Impact & Sustainability Data (2020)
Reporting Period: 2020
Environmental Metrics
Total Carbon Emissions:2K metric tons avoided in 2020
Total Energy Consumption:3.1M kWh saved in 2020
Water Consumption:144M gallons saved over 10 years
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Installed 236 EV charging stations
- Saved 3.1M kWh electricity in 2020
- Avoided 2K metric tons of greenhouse gas emissions in 2020
- Achieved $5.6M cost savings from energy efficiency measures in 2020
- Saved 1.2M kWh of energy in 2020 through SmartRent technology
- Saved 144M gallons of water over 10 years
- Achieved $793K cost savings over 10 years from water conservation
Social Achievements
- Named a Top Workplace in Colorado and Washington, D.C.
- Achieved 4.31 out of 5 superior customer satisfaction score
- Achieved 95.2% average daily occupancy in 2020
- Achieved 58% resident retention in 2020
- Created a Resident Healthy Living Guide
- Implemented industry-leading Parental Leave Policy
- Provided employee health screenings
- Offered flexible work hours
- Provided up to 16 weeks of pay and benefits for teammates deployed on active duty in the U.S. Military
- Achieved 4.42 out of 5 team engagement score in 2020
- Provided 26.6 average training hours per team member
- Supported residents sheltering in place during the COVID-19 pandemic
- Provided resources on rental assistance to residents impacted by COVID-19
- Paid 100% of costs related to employee COVID-19 testing and treatment
- AIR Gives program provided free use of furnished apartments to frontline healthcare workers
- Awarded $67.5K in scholarship funds to 26 students of teammates in 2020
- Raised $340K from the Charity Golf Classic
Governance Achievements
- Appointed a Chief Corporate Responsibility Officer
- Renamed the Nominating and Governance Committee to “Governance and Corporate Responsibility” and expanded its charter
- Participated in the Global Real Estate Sustainability Benchmark (GRESB)
- Provided third-party confirmation of several quantifications and metrics
- Supermajority independent board
- Intentional balance of different backgrounds and experiences on the board
- Regular Board refreshment
- Self-evaluation by the Board
- Separated the roles of Chairman of the Board and CEO
- Independent director stock ownership averaging $1.4M
- Executive Compensation tied to performance and endorsed by shareholders
- Annual Risk Management of operations, finance, accounting, ESG, legal, compliance, IT & data protection, HR, and more
- Annual training for teammates including Fair Housing, wage and hour compliance, REIT requirements, and AIR’s Code of Business Conduct and Ethics
Climate Goals & Targets
Environmental Challenges
- COVID-19 pandemic and its economic, governmental, and regulatory challenges
Mitigation Strategies
- Remained nimble, responsive, and innovative to ensure resident and teammate safety
- Implemented COVID-19 response plan including support for residents and teammates
- Established payment plans and flexible payment processes for residents
- Formed an internal cross-functional task force for work redesign and team safety
- Enhanced flexibility to work remotely
- Pioneered new ways to communicate with remote teammates
Supply Chain Management
Climate-Related Risks & Opportunities
Physical Risks
- Hurricanes
- Storms
- Earthquakes
- Windstorms
- Tornadoes
- Power outages
- Floods
- Wildfires
Reporting Standards
Frameworks Used: GRESB
Certifications: LEED Gold (Parc Mosaic community)
Awards & Recognition
- Top Workplace (Colorado and Washington, D.C.)
- Association for Talent Development Best Award for Excellence in Talent Acquisition, Training, and Team Development (2018, 2019, 2020)