Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Implemented software to centralize and track energy, water, and carbon emissions data across the portfolio.
• 100% of eligible buildings obtained ENERGY STAR® certification.
• Obtained third-party climate risk analysis in line with TCFD.

Social Achievements

• Adopted a Human Rights Policy.
• Launched a Fitness Challenge to raise money for Habitat for Humanity.
• Volunteered with Habitat for Humanity to complete an 11-unit multifamily home project.

Governance Achievements

• Formalized a Corporate Social Responsibility (CSR) committee.
• Incorporated ESG standards into the acquisition process.
• Adopted a Board Diversity Policy and a Human Rights Policy.

Climate Goals & Targets

Environmental Challenges

• Managing climate-related risks (floods, heat stress, hurricanes, sea-level rise, wildfires, water stress, earthquakes).

Mitigation Strategies

• Engaged an independent third-party consultant to conduct a portfolio-wide audit of building systems performance.
• Integrated Moody’s ESG Solutions climate risk platform to assess physical climate risks.
• Developed and implemented property and corporate-level mitigation and adaptation plans.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Floods
• Heat Stress
• Hurricanes and Typhoons
• Sea Level Rise
• Wildfires
• Water Stress
• Earthquakes

Transition Risks

• Not disclosed

Opportunities

• Reduced energy and water consumption leading to reduced operating costs
• Increased operating efficiency from new technologies
• Acquisition of energy-efficient buildings
• Use of lower-emission sources of energy
• Use of new technologies resulting in higher returns on investment
• Access to new markets
• Increased revenues through access to new and emerging public sector incentives
• Participation in renewable energy programs and adoption of energy-efficiency measures
• Balanced and customized insurance coverage

Reporting Standards

Frameworks Used: TCFD

Certifications: LEED® GOLD CORE AND SHELL

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Earned Premier ENERGY STAR Member status by certifying more than 15 buildings.
• Completed the Circle Point Park project, a 3-acre green space.

Social Achievements

• Expanded employee benefit programs to include a more robust insurance package and 401(k) plan participation for US employees.
• Added paid time off for employees to volunteer in communities.
• Further investments in local education and social initiatives.

Governance Achievements

• Enhanced disclosure practices, providing transparent and comprehensive reporting on ESG performance.
• Amended and restated Code of Conduct and Business Ethics to further reflect the Company’s views on political contributions and advocacy.
• Completed a Cybersecurity Assessment by an independent team of cybersecurity professionals.

Climate Goals & Targets

Environmental Challenges

• Climate risks (storms, water and heat stress, earthquakes and wildfires)
• Transitional risks (unexpected building repairs, rising insurance rates, increased utility costs)
• Cybersecurity risks (security breaches, cyber-attacks, malware)

Mitigation Strategies

• Climate risk assessment incorporated into due diligence for new acquisitions.
• Monitoring local and federal regulations related to climate risk.
• Developing mitigation and adaptation plans at property and corporate levels.
• Regular cybersecurity discussions with employees, phishing email tests, and implementation of security upgrades and protocols.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Storms
• Water and heat stress
• Earthquakes
• Wildfires

Transition Risks

• Unexpected building repairs
• Rising insurance rates
• Increased utility costs

Reporting Standards

Frameworks Used: TCFD

Certifications: ENERGY STAR

Environmental Metrics

ESG Focus Areas

• Energy Efficiency
• Water Management
• Waste Reduction
• Emissions Reduction
• Tenant and Employee Well-being
• Corporate Governance

Environmental Achievements

• Implemented onsite recycling initiatives and waste management programs at all properties.
• Installed drought-tolerant landscaping at properties in water-stressed areas.
• Upgraded to low-flow and high-efficiency fixtures and equipment where possible.

Social Achievements

• Hosted numerous social and charitable events for tenants throughout the year.
• Organized annual food drives to support local charities.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Increased resource consumption due to higher foot traffic as employees returned to offices.

Mitigation Strategies

• Developing a systematic approach for tracking energy, renewable energy, and natural gas sources to enhance efficiency.
• Focusing on key areas to improve energy, water, and emissions efficiency.

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: ENERGY STAR Portfolio Manager

Certifications: Null

Third-party Assurance: Third-party annual review of data synced to ENERGY STAR Portfolio Manager

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed