Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Operating policy to obtain a Phase I environmental report prior to acquiring a property, and if recommended, a Phase II environmental report
• Implemented broad scale fixture retrofits to reduce water consumption
• Used cameras and sensors to increase waste transport efficiency and reduce resident waste
• Assessed electrification of buildings in British Columbia to reduce reliance on emissions-producing systems
• Tested remote monitoring equipment to increase fuel efficiency and improve boiler system maintenance
• Decommissioned and replaced heating oil tanks with high-efficiency natural gas units in New Brunswick
• Deployed rooftop solar projects in Alberta

Social Achievements

• Use of a written diversity policy
• Adoption of anti-discrimination and harassment prevention policies
• Use of an annual resident satisfaction survey
• Use of an employee occupational health and safety framework

Governance Achievements

• Adoption of a Code of Business Conduct and Ethics and whistleblower policy
• Use of an annual board survey to gauge Board and corporate governance effectiveness
• Use of a disclosure policy

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Higher interest rates on the credit facility.
• Unexpected repairs to utility infrastructure in Iqaluit, NU; higher snow removal costs; and inflationary pressures on service contracts.
• High inflation and interest rate environment putting pressure on expenses and FFO.
• Debt service coverage ratio approaching its limit on the credit facility.

Mitigation Strategies

• Refinancing through property mortgage debt at lower fixed interest rates.
• $143.1 million of mortgage financing completed in Q1 2023 to repay $69.4 million in credit facility borrowings.
• Entering into fixed price contracts for a portion of utility consumption in Alberta.
• Focus on occupancy growth and AMR while maintaining operating efficiencies and expenditure management.
• Actively pursuing a Recapitalization Event by November 2023 to improve financial position and reduce leverage.
• Advanced negotiations with lenders to amend the credit facility (extend maturity date, expand borrowing capacity, amend debt service coverage ratio threshold).

Supply Chain Management

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used:

Certifications:

UN Sustainable Development Goals

• Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed