Alexandria Real Estate Equities, Inc. Releases 2021 ESG Report Highlighting Its Leadership and Innovative Approach to Climate Resilience, Design and Operations of High-Performance Laboratory Buildings and Corpo
PASADENA, Calif., June 30, 2022 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT and the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, agtech and technology campuses in AAA innovation cluster locations, today announced that it has released its 2021 ESG Report. Alexandria’s fifth ESG-focused report demonstrates Alexandria’s commitment to and execution of its industry-leading environmental, social and governance (ESG) strategy.
"As a mission-driven company dedicated to making a positive and lasting impact on the world, ESG is core to our DNA. We believe that doing well in our business and doing good for society are inherently linked, and this belief has shaped our multifaceted business model and ESG platform," said Dean A. Shigenaga, president and chief financial officer of Alexandria Real Estate Equities, Inc. "We understand that it is vital to strive toward higher levels of sustainability and ESG performance, and we are extremely proud of our broad recognition for leadership across our ESG platform. We have an exceptional team, whose dedication and attention enable the longstanding trusted relationships we have built with our tenants, and we remain focused on partnering with them to help advance their strategic sustainability goals as much as to enable them to pursue novel medicines that have the potential to improve people’s lives."
The company’s report details its efforts to advance impactful ESG areas, including by driving high-performance building design and operations to reduce carbon emissions, mitigating climate-related risk in its real estate portfolio and investing in and providing essential infrastructure for sustainable agrifoodtech companies. The report also showcases Alexandria’s leadership in catalyzing the health, wellness, safety and productivity of its employees, tenants, local communities and the world through the built environment and beyond, including through its visionary social responsibility initiatives and its commitment to upholding the highest levels of transparency, integrity and accountability. Notable efforts and accomplishments presented in the report include:
- Being recognized as the Global Sector Leader and achieving the highest 5 Star rating in the Global Real Estate Sustainability Benchmark (GRESB) Diversified Listed sector and earning the #2 ranking in the U.S. Science & Technology sector, as well as maintaining its "A" disclosure score;
- Ranking as the #5 most sustainable REIT in Barron’s "10 Real Estate Companies That Are Both Greener and More Profitable";
- Furthering the development of its approach to physical and transition climate-related risk by initiating a process to assess and understand potential physical risk and pathways to mitigate and adapt to climate change, as well as preparing for the transition to a low-carbon economy and continuing to develop science-based targets;
- Implementing innovative solutions to minimize fossil fuel use in its state-of-the-art laboratory development projects, such as at 325 Binney Street, which will harness geothermal energy to target a LEED Zero Energy certification and a 92% reduction in fossil fuel use as a key component of its design to be the most sustainable laboratory building in Cambridge; at 751 Gateway Boulevard, which is pursuing electrification and is tracking to be the first all-electric laboratory building in South San Francisco; and at the Alexandria Center® for Life Science – South Lake Union mega campus in Seattle, where the company is incorporating an innovative wastewater heat recovery system;
- Increasing its investment in renewable electricity to mitigate carbon emissions in its existing asset base, including through a large-scale solar power purchase agreement that will supply renewable electricity to its Greater Boston region starting in 2024;
- Committing over $100 million through its strategic venture platform, Alexandria Venture Investments, to innovative companies developing groundbreaking technologies to mitigate the effects of climate change;
- Donating mission-critical funds to over 290 non-profit organizations, as well as volunteering over 1,500 hours through Operation CARE, the company’s employee social impact program;
- Receiving an honorable mention in Fast Company’s prestigious 2021 Innovation by Design Awards in its new Impact category, which recognizes designs that have a major cultural or social impact, for its OneFifteen campus;
- Achieving a Fitwel Viral Response Certification with Distinction, the highest designation within the Viral Response Module, for the second consecutive year;
- Partnering with the Center for Active Design (CfAD), the operator of Fitwel, to develop a unique life science scorecard and earning the first Fitwel Life Science certification for 300 Technology Square in the Cambridge submarket of Greater Boston; and
- Earning the 2021 Nareit Gold Investor CARE (Communications and Reporting Excellence) Award in the Large Cap Equity REIT category, its fourth consecutive and sixth overall Gold Award for superior shareholder communications and reporting excellence — the most Nareit Investor CARE Gold Awards earned by any equity REIT.
Alexandria’s 2021 ESG Report has obtained third-party limited assurance from DNV Business Assurance USA, Inc. (DNV) and was developed in accordance with the Core option of the Standards of the Global Reporting Initiative (GRI). Learn more about the company’s comprehensive ESG approach and its progress on key initiatives in its 2021 ESG Report, which is available on the Corporate Responsibility page of the company’s website.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® urban office REIT, is the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, agtech and technology campuses in AAA innovation cluster locations, with an asset base in North America of 74.2 million SF as of March 31, 2022. The asset base in North America includes 41.9 million RSF of operating properties and 5.4 million RSF of Class A properties undergoing construction, 10.4 million RSF of near-term and intermediate-term development and redevelopment projects and 16.5 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, agtech and technology campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science, agtech and technology companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For additional information on Alexandria, please visit www.are.com.
Forward-Looking Statements
The Environmental, Social & Governance Report is intended to highlight our efforts in environmental sustainability, social responsibility and corporate governance (ESG). Socially responsible investing is qualitative and subjective by nature, and there is no guarantee that the criteria utilized, or judgment exercised, by Alexandria will reflect the beliefs or values of any one particular investor. Certain information regarding ESG practices is obtained from published sources or third parties, which may not be accurate or complete, and Alexandria is dependent on such information to evaluate and implement ESG practices. The standards of measurement and performance for ESG issues are developing or are based on assumptions, and norms may vary by region. There is no assurance that Alexandria will successfully implement any of the ESG policies, strategies or procedures outlined in the ESG Report or that, if implemented, such policies, strategies and procedures will have any particular ESG-related effect. Past performance should not be viewed as a guide to future performance. Alexandria makes no representation or warranty regarding the information set forth in the ESG Report.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding Alexandria’s initiatives, programs, policies, practices, investments, assessments, progress, timing and performance in connection with our ESG goals; the reduction of carbon emissions and use of energy and other resources; the mitigation of climate risk; the reduction of environmental impacts; LEED and healthy building certifications and efficiencies; the amount of committed funds and allocation or use of proceeds for sustainable or ESG purposes; impacts of initiatives to promote health, wellness, safety and productivity of our workforce, our tenants’ workforce and beyond; expected operations and performance and the success of our tenants’ efforts in connection with pursuing novel medicines. These forward-looking statements are based on the company’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by the company’s forward-looking statements as a result of a variety of factors, including, without limitation, the risks and uncertainties detailed in its filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release, and the company assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in the company’s forward-looking statements, and risks and uncertainties to the company’s business in general, please refer to the company’s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q.
CONTACT: Courtney Mulligan, Assistant Vice President – Strategic Projects & Corporate Social Responsibility, (646) 939?7471, cmulligan@are.com
SOURCE Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc.
Symbol: ARE
CIK: 1035443
Exchange: NYSE
Founded: 1993 (31 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Large-Cap
REIT Sector: Office
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score.
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