ARLINGTON, Va.--(BUSINESS WIRE)--AvalonBay Communities, Inc. (NYSE: AVB) (the “Company”) announced that it has been named the Regional Sector Leader for Americas Residential in the 2024 GRESB Development Benchmark, earning a score of 96 out of 100. The annual GRESB Sector Leader Awards recognize real estate and infrastructure companies, funds, and assets that demonstrate outstanding leadership in sustainability.
“As an avid developer, with meaningful sustainability targets, we incorporate environmental design standards into our new projects, which in turn supports the long-term operational efficiency and resilience of our portfolio,” said Katie Rothenberg, Vice President of ESG. “We’re pleased to see these efforts recognized by GRESB as a Sector Leader.”
The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations. This year’s Real Estate Assessment saw a record 2,223 listed and non-listed portfolios participate, generating a benchmark that covers USD 7 trillion of gross asset value (GAV) across 80 markets.
Key to AvalonBay’s success has been aligning design and construction standards to meaningful LEED certification requirements. Third party validation helps ensure project-level decisions align to long-term corporate environmental goals. Sixty-nine AvalonBay communities have achieved one or more environmental certifications, with 61 additional communities pursuing certification.
“We remain committed to prioritizing energy efficiency, electrification, and renewable energy where appropriate,” said Rothenberg. “Our new development projects act as a proving ground and help inform decarbonization efforts within our standing investments portfolio – a major benefit of being a REIT that both develops and operates.”
“GRESB Sector Leaders help set the pace for the industry, leading the way towards a more sustainable future. We are both proud of and encouraged by this year’s Sector Leaders for their dedication, leadership, and commitment to ESG principles and sustainability,” said Sebastien Roussotte, CEO of GRESB.
Earlier this, year AvalonBay issued its thirteenth annual ESG report summarizing the Company’s corporate sustainability program and accomplishments for calendar year 2023, including cumulative progress on its greenhouse gas reduction targets, reporting a 46.3% reduction in scope 1 and 2 emissions and a 19.6% reduction in scope 3 emissions on an intensity basis (since baseline year of 2017). The company also reported progress on water reduction goals, announced a new waste diversion target after reaching its 2023 goal, and highlighted the continued evolution of work related to physical climate risk, embodied carbon, and onsite solar, among other topics.
About AvalonBay Communities, Inc.
AvalonBay Communities, Inc., a member of the S&P 500, is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado. As of September 30, 2024, the Company owned or held a direct or indirect ownership interest in 305 apartment communities containing 92,908 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development. More information may be found on the Company’s website at https://www.avalonbay.com.
About GRESB
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 150 institutional and financial investors to inform decision-making. For more information, visit GRESB.com.
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