TORONTO, June 10, 2022 (GLOBE NEWSWIRE) — Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it issued its third annual Environmental, Social, and Governance (“ESG”) Report providing an overview of the company’s ESG strategies, policies, and commitments, and highlighting the progress made in 2021.
“Our ESG strategies reflect our understanding that the evolving global market has introduced new opportunities for value creation. Our integrated ESG programs help us proactively capitalize on these opportunities, and we will continue to prudently invest in our properties, our team, and the communities in which we operate,” commented Mark Kenney, President and CEO. “Through these strategic alignments, we believe we will generate enhanced returns for our Unitholders while making meaningful contributions to our communities and the environment.”
Highlights of CAPREIT’s 2021 ESG Report include:
- Investing over $20 million in energy efficiency initiatives.
- Achieving an 11% energy consumption reduction and a 10% reduction in GHG emissions since 2010.
- Ranking in the Top Quartile of the Best Employers Program for the 8th consecutive year.
- Continuing to foster a culture of equality, diversity, and inclusion by delivering best-in-class programs for our employees and residents.
- Establishing a formal Compliance & Ethics program enhancing governance practices.
- Developing a new and refined ESG Strategy aligned with Elevation 2023, our core business growth strategy.
Our 2021 ESG Report can be found by visiting the CAPREIT website at www.capreit.ca.
CAPREIT is Canada’s largest publicly-traded provider of quality rental housing. CAPREIT currently owns or has interests in approximately 67,000 residential apartment suites, townhomes and manufactured housing community sites well-located across Canada and the Netherlands with approximately $18 billion of assets under management globally. For more information about CAPREIT, its business and its investment highlights, please visit our website at www.capreit.ca and our public disclosure which can be found under our profile at www.sedar.com.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
All statements in this press release that do not relate to historical facts constitute forward-looking statements. These statements represent CAPREIT’s intentions, plans, expectations and beliefs and are subject to certain risks and uncertainties that could result in actual results differing materially from these forward-looking statements. These risks and uncertainties are more fully described in regulatory filings that can be obtained on SEDAR at www.sedar.com.
For more information, please contact:
Mr. Mark Kenney
President & CEO
Mr. Stephen Co
Interim Chief Financial Officer