CHEVY CHASE, Md.--(BUSINESS WIRE)--JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, today announced that it has achieved a 4-star rating from the Global Real Estate Sustainability Benchmark (GRESB) in the 2018 Real Estate Assessment, ranking second among 25 global participants with mixed-use office and multifamily portfolios. In the first year participating in the GRESB assessment, JBG SMITH outperformed the average score of other first year participants by 26 points with a score of 82.
Each year GRESB assesses and benchmarks the environmental, social and governance (ESG) performance of real assets worldwide and monitors the sector’s progress toward global sustainability goals. GRESB assessments are guided by what investors, and the industry, consider to be material issues in the sustainability performance of real asset investments. These goals are aligned with international reporting frameworks such as the Global Reporting Initiative (GRI) and the Principles for Responsible Investing (PRI).
"The strong first-year GRESB results posted by JBG SMITH clearly demonstrate how a proactive approach yields positive results,” remarked Dan Winters, GRESB Head of Americas. “Scoring above-average on each GRESB aspect with 95%+ portfolio data coverage, JBG SMITH stormed into the top 10 of North American REITs and is well-positioned to continue its industry leadership."
In its first year as a public company, JBG SMITH has demonstrated a commitment to ESG principles through transparency in management practices and disclosure of key performance metrics. JBG SMITH’s investment strategy focuses on alignment of long-term business plans with sustainable development goals, positioning assets to meet market demands for sustainability and achieving long-term targets for conserving resources and reducing carbon emissions.
“We take our responsibility to contribute to the long-term sustainability of our region seriously,” said JBG SMITH CEO, Matt Kelly. “By investing in building efficiencies and community improvements, we give our stakeholders confidence that we place real value on environmental and social capital.”
Over the past year JBG SMITH was recognized as a Green Lease Leader by the Department of Energy, partnered with the Federal City Council to launch the Washington Housing Initiative, which will establish a non-profit to acquire or build affordable housing in path of growth neighborhoods, and made a public commitment to gender and ethnic diversity on the Board of Trustees. Additionally, in May oversight of environmental and social matters was added to the Board Corporate Governance & Nominating Committee’s charter, demonstrating top down leadership from the highest-levels of the organization.
About JBG SMITH
JBG SMITH is an S&P 400 company that owns, operates, invests in and develops assets concentrated in leading urban infill submarkets in and around Washington, DC. Our mixed-use operating portfolio comprises approximately 20 million square feet of high-quality office, multifamily and retail assets, 98% of which are Metro-served. With a focus on placemaking, we drive synergies across the portfolio and create amenity-rich, walkable neighborhoods. JBG SMITH’s future development pipeline includes over 17.2 million square feet of potential development density. For additional information on JBG SMITH please visit www.jbgsmith.com.
About GRESB
GRESB is the global environmental, social and governance (ESG) benchmark for real assets. Working in collaboration with the industry, GRESB defines the standard for sustainability performance in real assets, providing standardized and validated ESG data to more than 70 institutional investors – representing over USD 18 trillion in institutional capital. In 2018 a record 903 property companies and funds participated in the GRESB Real Estate Assessment, the Infrastructure Assessment covered 75 funds and 280 assets, and 25 portfolios completed the Debt Assessment.
Learn more at GRESB.com.