Urban Edge Properties Announces Release of 2021 ESG Report
NEW YORK--(BUSINESS WIRE)-- Urban Edge Properties (NYSE:UE) today announced that it has issued its 2021 Environmental, Social, and Governance (“ESG”) Report outlining the Company’s ESG strategies, policies, and environmental performance metrics. The ESG Report also includes an analysis of climate-related risks and management’s response to mitigate them. The full report can be found on our website at the following link: 2021 ESG Report
Highlights of Urban Edge’s ESG program include:
- Upgraded properties with LED lighting; currently 81% of landlord-controlled properties have been upgraded, resulting in a 33% reduction in annual common area energy usage;
- Installed automatic water submeters to provide timely data, leak detection and insight into water consumption;
- Initiated property waste recycling programs that include tenant education and communal waste systems, which resulted in 1,700 tons of waste being recycled, representing a 27% waste diversion rate;
- Upgraded HVAC equipment to high-efficiency systems throughout the portfolio in 2021;
- Increased engagement with tenants, employees, and stakeholders through social programs and initiatives that led to monetary contributions to a variety of charities;
- Donated brick-and-mortar space and volunteering assistance to help the Relief Access Program for the Bronx (“RAP4Bronx”) resulting in the distribution of more than 2 million meals and 3 million pounds of fresh produce to various community-based organizations and individuals in need since March 2020;
- Committed to advancing diversity and inclusion in the workplace with our Chief Executive Officer signing the CEO Diversity and Inclusion Action Pledge;
- Offered a robust employee wellness program focusing on the financial, emotional, physical, and social well being of our team members. In 2021, Urban Edge hosted over 30 wellness events; and
- Rolled out a new tenant digital platform which allows for centralized and two-way communication with tenants, including ESG related matters and initiatives
“Our strategic plan incorporates strong ESG management policies and processes throughout our organization”, noted Jeff Olson, Chairman and CEO. “We understand that the long-term value we create for our stakeholders requires that we generate attractive returns while creating a sustainable future for our employees, tenants, investors, and the communities we serve.”
ABOUT URBAN EDGE PROPERTIES
Urban Edge Properties is a NYSE-listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, D.C. to Boston corridor. Urban Edge owns 76 properties totaling 17.2 million square feet of gross leasable area.
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Urban Edge Properties
Mark Langer, EVP and Chief Financial Officer
(212) 956-0082
Source: Urban Edge Properties
Urban Edge Properties
Symbol: UE
Exchange: NYSE
Founded: 2014 (10 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Retail
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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Last updated: 2024-12-04 - v1.3