Climate Change Data

PROREIT

Climate Impact & Sustainability Data (2022, 2023)

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • 14% of portfolio is BOMA-certified (912,041 sq.ft)
  • 66% of leases contain a sustainability clause (3,683,764 sq.ft)
  • 99%+ of portfolio is located in areas identified as low flood risk
  • 43% of portfolio retrofitted to LED lighting in controllable areas (2,834,038 sq.ft)
  • 21% of properties are tracked on ENERGY STAR® Portfolio Manager (1,343,358 sq.ft)
  • 100% of properties subject to thorough assessment of all environmental and capital item components prior to acquisition

Social Achievements

  • 40% of PROREIT’s management is comprised of women
  • 12% annual turnover rate for full-time staff
  • 63% of employees participated in our corporate volunteer program
  • 37 community and industry initiatives supported through donations and sponsorships
  • Achieved a score of 92% on a third-party audit of workplace health and safety

Governance Achievements

  • 77% of Board comprised of independent Trustees and all Board committees are chaired by independent Trustees, with exception of the investment committee (As of April 1, 2023)
  • 25% women representation on Board of Trustees
  • Implementation of comprehensive cybersecurity platform and measures
  • Established Code of Conduct and annual review thereof
  • Established and annual review of Whistleblower and Disclosure Policies

Climate Goals & Targets

Short-term Goals:
  • Onboard 85% of properties onto ENERGY STAR® Portfolio Manager
  • 50% of portfolio certified by an accredited building program (BOMA, ENERGY STAR®)
  • 100% of portfolio leases contain sustainability clause
  • Conduct employee engagement survey and record 10% employee turnover rate or less
  • Zero accidents and incidents with zero lost work hours
  • 50% of management and employee base comprised of women and initiate a poll to understand diversity within the organization
  • Annual tenant satisfaction surveys
  • Increase engagement towards organizations that promote a sustainable future

Environmental Challenges

  • Net lease environment provides limited oversight or control over the vast majority of portfolio properties, except at acquisition and through tenant turnover.
Mitigation Strategies
  • Proactive tenant engagement to enhance collaboration and gain better insight into portfolio operations and consumption, including gathering utility data.
  • Including a sustainability clause in leases to provide access to key utility data for certifications.

Supply Chain Management

Responsible Procurement
  • Working with a recognized national provider for environmental and capital item audits.
  • Working with an insurance broker for annual portfolio risk assessment.
  • Working with a specialized roofing consultant for efficiency assessments.

Climate-Related Risks & Opportunities

Physical Risks
  • Flood risk

Reporting Standards

Frameworks Used: SASB, GRESB

Awards & Recognition

  • BOMA BEST Earth Award

Reporting Period: 2023

Environmental Metrics

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • 21% of portfolio is BOMA Certified (1,352,512 sq. ft.)
  • 49% of properties are tracked on ENERGY STAR® Portfolio Manager (3,086,327 sq. ft.)
  • 100% of new leases and lease renewals contain a sustainability clause
  • 48% of portfolio retrofitted to LED lighting in controllable areas (3,037,499 sq. ft.)
  • Reduced CO2 emissions at one property by an estimated 29% through converting oil to natural gas power
  • Installation of a white membrane roofing system at two properties to reduce energy consumption by as much as 40% per premises

Social Achievements

  • 52% of PROREIT’s management is comprised of women
  • 3.79% annual turnover rate for full-time staff
  • 67% of employees participated in our corporate volunteer program
  • 61 community and industry initiatives were supported through donations, sponsorships and volunteering
  • 689 employee volunteer hours donated

Governance Achievements

  • 75% of Board members are independent Trustees
  • All Board committees chaired by independent Trustees, with exception of the investment committee
  • 37.5% representation of women on Board of Trustees
  • Adopted Board Diversity Policy, with certain amendments made in 2023

Climate Goals & Targets

Environmental Challenges

  • Generally operating within a net lease environment, which provides limited visibility into tenant operations at our properties
Mitigation Strategies
  • Collaboration with tenants to enhance data collection and promote sustainable business practices
  • Engaged with a third-party supplier to monitor and measure greenhouse gas emissions

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SASB, TCFD

Awards & Recognition

  • BOMA BEST Earth Award for Light Industrial in New Brunswick and Prince Edward Island (2022 and 2023)