WASHINGTON--(BUSINESS WIRE)--Easterly Government Properties, Inc. (NYSE: DEA) (the “Company” or “Easterly”), a fully integrated real estate investment trust focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government and its adjacent partners, today announced the release of its 2023 Environmental, Social, and Governance report (the “ESG Report”), showcasing the Company’s progress in achieving its environmental and social-focused goals committed to in 2021. The goals correlate to five of the U.N. Sustainable Development Goals (SDGs).
Easterly oversaw a 4% decrease in energy usage and achieved 16 ENERGY STAR Certifications. This emissions reduction equated to 3.7 million pounds of coal burned, or the electricity needed to power 667 homes for one year, and was achieved as a result of equipment upgrades and low-to-no-cost adjustments to optimize its buildings’ efficiency.
In March 2024 and in connection to its ESG goals, Easterly announced it has been awarded a 20-year non-cancelable lease to develop a 50,777 rentable square foot Federal courthouse in Flagstaff, Arizona (“JUD - Flagstaff”). The property is intended to be a LEED Silver, net zero facility, the first of its kind for the Easterly portfolio, thus strengthening its ongoing ESG progress achieved throughout 2023.
“Easterly has taken significant strides to maximize the efficiency of our portfolio of mission-critical U.S. Government properties,” said Darrell Crate, Easterly’s Chief Executive Officer. “ESG continues to complement our business strategy and we are proud to have a role in cutting our portfolio’s overall carbon footprint as we work hand-in-hand to meet the unique needs of our tenants and create shareholder value.”
The Company continues to make strides in safeguarding the environment, fostering community investment, and ensuring a resilient, sustainable business model that benefits employees and investors alike. The highlights include:
- As a result of achieving certain third-party sustainability ratings, Easterly lowered the interest rate margin of its $450 million senior unsecured revolving credit facility by one basis point, effective January 2, 2024.
- The Company created and launched its first employee engagement survey with an initial participation rate of 81%.
- The Company achieved its goal of 90% participation in employee charitable giving and volunteerism, years in advance of its initial aim of hitting this target by 2025.
- Easterly partnered with the Wounded Warrior Project to help support continuing efforts to aid veterans, their families, and caregivers. The Company achieved 79% participation in its charitable giving campaign, during which its employees raised nearly $5,000, doubling its original goal.
- The Company maintained a headcount of 41% female employees, 30% of whom hold leadership positions.
- The Company was named one of the Washington Business Journal’s “Best Places to Work” for 2023, which honors the top 75 companies in the Greater Washington area based on the results of a third-party administered quantitative survey sent to employees.
- The Company awarded an annual professional development stipend of $500 per employee to help further its employees' professional development and work-life balance.
The Company is committed to preserving the robust ESG advancements made in 2023 while furthering investments in the efficiency and sustainability of its portfolio, particularly in properties vital to government operations. To delve into the comprehensive details of Easterly's 2023 ESG Report, visit: Easterly's Corporate Responsibility page.
About Easterly Government Properties, Inc.
Easterly Government Properties, Inc. (NYSE:DEA) is based in Washington, D.C., and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly’s experienced management team brings specialized insight into the strategy and needs of mission-critical U.S. Government agencies for properties leased primarily through the U.S. General Services Administration (GSA). For further information on the company and its properties, please visit www.easterlyreit.com.
This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as “believe,” “expect,” “intend,” “project,” “anticipate,” “position,” and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to those risks and uncertainties associated with our business described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed on February 27, 2024. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date of this release, and we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in our expectations.
