ARLINGTON, Va.--(BUSINESS WIRE)--AvalonBay Communities, Inc. (NYSE: AVB) today announced the release of its 2016 Corporate Responsibility (CR) Report. In addition to summarizing the Company’s environmental, social and governance performance for calendar year 2016, the report also shows the Company’s progress against its 2020 CR goals.
“Our commitment to industry leading environmental, social and governance programs is resulting in significant progress toward our 2020 CR goals, including achieving our customer-focused goal (Net Promoter Score) four years earlier than expected,” said Timothy J. Naughton, Chairman and CEO of AvalonBay. “Our environmental and social initiatives are creating value for all of our stakeholders and support our purpose of creating a better way to live. In 2016, we were pleased to be named once again as a Global Real Estate Sustainability Benchmark (GRESB) sector leader and Corporate Partner of the Year from the Equal Rights Center for our efforts to provide accessible apartments for disabled residents. In addition, our Building Strong Communities philanthropy program supports non-profit organizations focused on disaster relief, affordable housing, and support for the disadvantaged.”
AvalonBay’s notable 2016 CR achievements include:
- $1,000,000 in annual energy savings from LED lighting retrofits
- $219,000 in anticipated annual savings and 350 metric ton reduction in GHG emissions following the installation of the Company’s largest cogeneration system ever
- 9 new LEED certifications and 22 apartment communities pursuing LEED or Energy Star certifications as of year-end, bringing the total communities achieving or pursuing certification to 61 across the portfolio
- $1.4 million in cash and in-kind donations to 58 regional philanthropy partners including a continuation of our four-year $1 million commitment to the American Red Cross
- 1,017 pints of blood donated to the American Red Cross, potentially saving over 3,000 lives
- 16% increase in associate volunteer participation
The Company’s progress toward its 2020 goals includes:
|2020 Goals||Progress to Date From Baseline|
|Reduce energy use intensity (EUI) and water use intensity (WUI) by 15%||EUI down 10.9%, WUI down 6.3%|
|Increase Net Promoter Score (the company’s key customer metric) by 33%||Increased 47% and goal achieved 3 years early|
|Achieve 75th percentile or better associate engagement compared to the approximately 400 companies surveyed by IBM Kenexa||In the 90th percentile|
|Increase the Company’s contribution to the communities in which we work and live to $2.2 million annually (cash and in-kind)||At 64% of goal|
Additional details, including definitions of the metrics described above, can be found in our 2016 CR Report.
About AvalonBay Communities, Inc.
As of March 31, 2017, the Company owned or held a direct or indirect ownership interest in 284 apartment communities containing 82,533 apartment homes in 10 states and the District of Columbia, of which 24 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States. More information may be found on the Company’s website at http://www.avalonbay.com. Complete copies of AvalonBay’s current and past annual CR Reports can be found here.
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