ARLINGTON, Va.--(BUSINESS WIRE)--AvalonBay Communities, Inc. (NYSE: AVB) today announced its commitment to setting science-based emissions reduction targets to be approved by the Science-Based Targets initiative (SBTi). AvalonBay joins the growing group of leading companies that are setting emissions reduction targets in line with what climate science says is necessary.
Science-based targets provide companies with a clearly defined path that specifies how much and how quickly they need to reduce their greenhouse gas emissions. The Science-Based Targets initiative is a collaboration between CDP, World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC), and champions setting targets that align with transitioning to a low-carbon economy. Since the signing of the landmark Paris Agreement over three years ago, the number of companies committed to reducing emissions has increased and AvalonBay is proud to join the ranks of these organizations taking action.
“As the cities and markets in which we do business move toward a low-carbon future, AvalonBay has plans to lead the way and contribute positively to this future,” said Tim Naughton, Chairman and CEO of AvalonBay. “We know that fulfilling our purpose of creating a better way to live requires us to continue to set ambitious and innovative goals aligned with climate science, and, as a result, AvalonBay is committed to setting science-based targets.”
AvalonBay was recently confirmed, for the first time, as a constituent of the FTSE4Good Index Series. Created by the global index provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.
“This recognition, and the Company’s commitment to science-based targets, demonstrate the strong position that AvalonBay is taking on environmental sustainability and a low-carbon future,” says Mark Delisi, Vice President of Corporate Responsibility.
Learn more about AvalonBay’s corporate responsibility efforts and achievements by visiting https://www.avaloncommunities.com/about-us/corporate-responsibility.
About AvalonBay Communities, Inc.
As of December 31, 2018, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,158 apartment homes in 12 states and the District of Columbia, of which 21 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 primarily 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.
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