ARLINGTON, Va.--(BUSINESS WIRE)--The Global Real Estate Sustainability Benchmark (GRESB) announced that AvalonBay Communities, Inc. has been named a Global and Regional Sector Leader in the 2019 Real Estate Assessment, a benchmark which covers more than 1,000 property companies, real estate investment trusts (REITs), funds, and developers.
Each year GRESB assesses and benchmarks the environmental, social and governance (ESG) performance of real assets worldwide and monitors progress towards 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 and are aligned with international reporting frameworks such as GRI and PRI.
The GRESB Sector Leader Awards Program recognizes real estate and infrastructure companies, funds and assets that have demonstrated outstanding leadership in sustainability.
"We are proud to lead the way in environmental, social and governance performance. AvalonBay is committed to the integration of environmental sustainability and social impact into the way we operate, and we are honored to receive this recognition from GRESB,” said Timothy J. Naughton, Chairman and CEO of AvalonBay.
"We congratulate all 2019 Sector Leaders for the significant steps they have taken to manage ESG risks, identify opportunities and find ways to make positive real-world impacts. Your efforts continue to shape the future of sustainability leadership and play a critical role in creating a world with more sustainable buildings and infrastructure,” says Sander Paul van Tongeren, Co-Founder and Managing Director at GRESB.
AvalonBay recently published its 2018 Corporate Responsibility report, which provides more details on the Company’s ESG goals, initiatives and accomplishments. This includes our adoption of Science Based Targets that were recently approved by the Science Based Targets initiative.
About AvalonBay Communities, Inc.
As of June 30, 2019, the Company owned or held a direct or indirect ownership interest in 294 apartment communities containing 86,184 apartment homes in 12 states and the District of Columbia, of which 21 communities were under development and seven 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.