BETHESDA, 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 the release of its annual Environmental, Social, and Governance (ESG) Report which highlights the accomplishments achieved across its operating assets in 2019. The key highlights include:
- Successfully reduced energy consumption by 3.9%.
- Successfully reduced greenhouse gas emissions by 3.6%.
- 5 million square feet of its portfolio is Energy Star Certified, and 9 million square feet has been LEED Certified, with more under consideration.
- Honored as a GRESB Sector Leader in Diversified Office Residential and awarded as the Best Corporate Responsibility Program by NAIOP DC|MD for the Washington Housing Initiative.
“JBG SMITH has long demonstrated its commitment to sustainable practices through its focus on walkable, transit-oriented mixed-use developments throughout its considerable portfolio in the region,” said Kimberly Pexton, Vice President of Sustainability at JBG SMITH. “This report delves even deeper into both the sustainability goals and milestones reached, while also discussing our role as a responsible member of the community and a trustworthy employer. The expansion of our sustainability report to include all aspects of ESG reporting more thoroughly highlights the high standards and achievements that have made us a leader in our field.”
JBG SMITH believes sustainable development is paramount to futureproofing its portfolio. In addition, it believes that carbon emissions reductions associated with transit-oriented development is an unsung hero in the fight for fossil fuel independence. Along those lines, in 2019, JBG SMITH partnered with local jurisdictions to advance the transition to a low-carbon economy, which includes a focus on transportation alternatives and building operations.
In 2018, JBG SMITH founded the Washington Housing Initiative (WHI) alongside the Federal City Council, and in 2019, the WHI Impact Pool made its inaugural investment to preserve 326 units of workforce housing at the Parkstone in Alexandria, Virginia. Over the course of 2019, JBG SMITH Cares, the community giving vehicle for JBG SMITH, logged more than 2,330 hours of community service. In total, corporate giving, including business-to-business sponsorships and a contribution to the Washington Housing Conservancy, exceeded $2 million dollars.
JBG SMITH's Board of Trustees maintains a strong focus on enhancing shareholder value, including alignment of ESG priorities with long-term business plans. As such, ESG strategy, climate change risks, and performance data are woven throughout its public disclosure documents and investor communications. Shifting ESG practices to focus on deep integration across all business units ensures more efficiency as each unit aims for the same goals. This year's report has been transformed to align key performance indicators with the frameworks that support JBG SMITH’s impact on climate change – United Nations Sustainable Development Goals (UN SDG's) and Global Reporting Initiative (GRI). In addition, the company’s 10-K included important financial and non-financial disclosures as recommended by the Sustainable Accounting Standard Board (SASB) and the Task Force on Climate-Related Disclosures (TCFD). JBG SMITH's ESG Report provides specific data as defined by these organizations, including critical performance information regarding the impacts of climate change on its business.
About JBG SMITH
JBG SMITH is an S&P 400 company that owns, operates, invests in and develops a dynamic portfolio of high-growth mixed-use properties in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Capital region, including National Landing where it now serves as the exclusive developer for Amazon’s new headquarters. JBG SMITH’s portfolio currently comprises 20.8 million square feet of high-growth office, multifamily and retail assets, 98% at our share of which are Metro-served. It also maintains a robust future pipeline encompassing 18.7 million square feet of mixed-use development opportunities. For more information on JBG SMITH please visit www.jbgsmith.com.