Climate Change Data

Global Medical REIT Inc. (GMRE)

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

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:17,131 tons of total e-CO2 greenhouse gas emissions (0.01 ton per square foot)
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:36,826,100 kilowatt-hours of electricity (21.567 kilowatt-hours per square foot)
Water Consumption:404,285 cubic meters (0.237 cubic meters per square foot)
Waste Generated:Data collected from seven sites, but most have only one monthly bill covering trash and recycling.
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Improved GRESB assessment score from 21 to 42 between 2019 and 2020; increased data coverage ratio from 11% to 50.5% during the same period.
  • Collecting and tracking utility consumption data since 2019.

Social Achievements

  • Launched Ride United pilot program in Phoenix, Arizona, providing 1,000 rides for medical appointments.
  • Consistently low employee turnover (2% to 8%) despite company growth.

Governance Achievements

  • Established an ESG Working Group comprising Board members and a senior executive.
  • Internalized management structure in July 2020.
  • Increased percentage of independent directors from 66% to 75%.

Climate Goals & Targets

Long-term Goals:
  • Expand healthcare access for communities.
Medium-term Goals:
  • Integrate climate risk into decision-making.
Short-term Goals:
  • Reduce carbon footprint and energy use of properties.
  • Support tenants in accessing capital and growing their businesses.

Environmental Challenges

  • Triple-net lease structure limits direct influence on tenants' building operations and environmental practices.
  • Difficulty in separating water usage inside buildings from external usage for landscape irrigation.
Mitigation Strategies
  • Incentivizing tenants to adopt sustainable practices.
  • Conducting Energy Utility Audits during due diligence to identify areas for improvement.
  • Engaging a third-party climate intelligence risk assessor to integrate climate data into underwriting and portfolio management.

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: GRESB

Certifications: Null

Third-party Assurance: Measurabl (third-party ESG data management provider)

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:27,996.49 tons of total e-CO2 greenhouse gas emissions (0.01 ton per square foot)
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:67,780,700 kilowatt-hours of electricity (31.053 kilowatt-hours per square foot)
Water Consumption:166,135 cubic meters
Waste Generated:Data collected from 11 sites, but most have only one monthly bill covering trash and recycling.
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Improved portfolio collection coverage of utility data from 11% to 51% in two years.
  • Two facilities earned ENERGY STAR certification in 2022 (one with a score of 99).
  • Installed solar panels on Lakeside Medical Suites, projected to reduce electricity purchase by 79% and save over $1 million over 25 years.

Social Achievements

  • Sponsored 1,070 non-emergency medical rides through the Ride United project, exceeding the goal of 1,000.
  • Employee engagement survey showed 100% of respondents agreed or strongly agreed with a welcoming culture; 95% described the culture as productive; over 80% see themselves remaining at GMRE for more than three years.
  • Moved to a new LEED Platinum certified and WELL Health & Safety certified headquarters.

Governance Achievements

  • Established a formal ESG Committee to oversee ESG strategy, policies, communications, and compliance.
  • Completed an Enterprise Risk Management (ERM) exercise to explore operational exposure to ESG-related risks and opportunities.
  • Implemented a robust peer review program for the Board of Directors.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Achieve carbon neutrality.
  • Expand Ride United program to Orlando, Florida.
Short-term Goals:
  • Expand data collection to include all electricity, gas, water, and waste data for every building.

Environmental Challenges

  • Triple-net lease structure complicates easy access to utility data.
  • Need to expand the breadth and improve the quality of data collection across the portfolio.
Mitigation Strategies
  • Implementing Yardi’s Facility Manager module to better track systems, equipment, and fixtures.
  • Conducting research into energy sources of all buildings.
  • Working with Georgetown University Steers Center of Real Estate to improve data quality and ensure compliance with future reporting requirements.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Energy efficiency initiatives, renewable energy sources.

Reporting Standards

Frameworks Used: GRESB

Certifications: ENERGY STAR, LEED Platinum (Headquarters), WELL Health & Safety (Headquarters)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Goal 3 (Good Health and Well-being)
  • Goal 8 (Decent Work and Economic Growth)
  • Goal 11 (Sustainable Cities and Communities)
  • Goal 12 (Responsible Consumption and Production)
  • Goal 13 (Climate Action)

GMRE's initiatives contribute to these goals through various programs and practices.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:26,962 tCO2e (Scope 3)
Scope 1 Emissions:0 tCO2e
Scope 2 Emissions:0 tCO2e
Scope 3 Emissions:26,962 tCO2e
Renewable Energy Share:Not disclosed
Total Energy Consumption:82.05 M kWh
Water Consumption:2.705 cubic meters
Waste Generated:6,437 tons
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Diversity & Inclusion
  • Governance
  • Employee Engagement
  • Healthcare Access

Environmental Achievements

  • Earned ENERGY STAR certifications for five properties.
  • Improved GRESB score from 46 to 54.
  • Implemented 20 HVAC upgrades and five roof replacements.
  • Increased data coverage ratio from 11% to 55% for utility data.
  • Expanded due diligence to include climate risk and environmental sustainability assessments.

Social Achievements

  • Maintained very low employee turnover.
  • Engaged BalancedWork consultancy to enhance employee engagement.
  • 46% of workforce is women; 38% is ethnically diverse.
  • Implemented employee-centric policies (unlimited PTO, hybrid work).

Governance Achievements

  • Established an ESG Committee of the Board of Directors.
  • Audit Committee took on oversight responsibility for cybersecurity.
  • Developed and adopted a Cybersecurity Response Plan.
  • Implemented policies promoting ethics and integrity (Code of Business Conduct).

Climate Goals & Targets

Long-term Goals:
  • Developing an approach to support portfolio’s potential for greenhouse gas emission reduction and setting goals.
Medium-term Goals:
  • Expanding data collection efforts, focusing on quality and consistency.
  • Expanding the number of properties submitted for ENERGY STAR evaluation.
Short-term Goals:
  • Leveraging building improvement budgets to raise property values and improve operating efficiency.
  • Renewing and re-leasing thousands of square feet, incorporating sustainability initiatives.

Environmental Challenges

  • Limited ability to directly affect energy measurement and consumption due to triple-net lease structure.
  • Climate change threats to physical assets, communities, and stakeholders.
  • Challenges in collecting utility data from tenants.
  • Cybersecurity risks.
Mitigation Strategies
  • Working with tenants to improve environmental practices.
  • Incorporating climate risk evaluations into due diligence.
  • Using Moody’s 427 Risk Management platform to assess climate risk exposure.
  • Implementing utility and energy audits.
  • Developing a Cybersecurity Response Plan.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather, flooding, power grid failure
Transition Risks
  • High energy prices, economic instability, supply chain disruptions
Opportunities
  • Energy efficiency improvements, lower operating costs

Reporting Standards

Frameworks Used: GRESB

Certifications: ENERGY STAR

Third-party Assurance: ISOS (third-party ESG project partner)

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • High-energy-efficient products

Awards & Recognition

  • ENERGY STAR certifications
  • GRESB score improvement