SAN CLEMENTE, Calif.--(BUSINESS WIRE)--CareTrust REIT, Inc. (NYSE: CTRE) was awarded Prime status by ISS ESG in their ESG Corporate Rating on March 21, 2024. Prime status is awarded to companies with an environmental, social and governance (ESG) performance above the sector-specific Prime threshold meaning that CareTrust REIT demonstrated strategies to manage ESG risks and impacts and implement opportunities throughout our value chain.
Dave Sedgwick, CareTrust REIT CEO, said, “Our role as owners of the real estate is to find innovative ways to promote, educate, and incentivize our operators to make sustainable choices as they upgrade, remodel, and redevelop.” Mr. Sedgwick continued, “As a triple-net landlord, our third-party operators not only possess our real estate (subject to in-place triple net lease agreements), but they also have absolute control and operational responsibility for the facilities located on the properties. We focus on working with our operators on implementing our ESG goals through our developed programs.”
Jason Rodgers, CareTrust Director of Construction Services, added, “Our commitment to Environmental, Social and Governance (ESG) excellence is evident through our promotion of sustainability and corporate responsibility within the company’s business, our developed ESG tenant programs, and our commitment to create and protect shareholder value while serving the needs of all CareTrust REIT stakeholders.”
Several strategies that contribute to the company’s ESG performance are:
- Financially support environmental improvement projects by offering financial incentives.
- Utilize an Environmental Management System for utility data at properties.
- Implement green lease clauses.
- Engage stakeholders on climate risk, resource reduction, and energy benchmarking compliance.
- Assess physical climate risk and identify resiliency strategies at properties.
- Prioritize investment in our employees through comprehensive financial well-being benefits.
- Safeguard the confidentiality and integrity of our information through a reputable Cybersecurity firm.
- Require that tenants participating in our Tenant ESG Program have a written Code of Business Conduct and Ethics.
Additionally, CareTrust has seamlessly integrated Corporate Governance principles into its company committees, policies, and practices. Its dedicated ESG Board, Employee Committees, and Senior Management oversee various facets of its ESG strategy, ensuring that all levels of the organization actively participate in advancing its corporate sustainability responsibilities.
In recent efforts, the company has proactively identified properties subject to emerging jurisdictional building performance standards to ensure compliance readiness. Furthermore, CareTrust has pinpointed the top 20 most resource-intensive properties and commenced communication with relevant operators, offering tailored improvement solutions and supportive resources.
Presently, the ESG committee is analyzing the results of its latest physical climate risk assessment and preparing communication regarding identified mitigation and adaptation strategies.
CareTrust has aligned its Corporate Sustainability Report with reference to the GRI Standards and with the TCFD recommended disclosures, ensuring transparency and accountability in its reporting practices. For access to its latest Corporate Sustainability Report, visit https://investor.caretrustreit.com/Corporate-Responsibility/default.aspx.
About CareTrust REIT
CareTrust REIT, Inc. is a self-administered, publicly traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States. For more information, visit https://www.caretrustreit.com/.
ISS ESG
ISS ESG’s ESG Corporate Rating is designed to enable institutional investors to support their investment strategies by assessing the ESG performance of corporate issuers. Refer to the link provided for additional information: https://www.issgovernance.com/esg/ratings/.
