Recognized as First Company Globally to
Receive WELL Equity Rating Across its Portfolio
Surpassed Commitments to Reduce Both Scope 1
and 2 Emissions by 50% and Energy Consumption by 20% by
2030
Achieved Gender Equality at Management Level
Three Years Ahead of 2025 Goal
Increased Diversity of Board of Directors to
33% Female and 44% Racially/Ethnically Diverse and Added Two New
Independent Members
JERSEY CITY, N.J., June 27, 2023 /PRNewswire/ -- Veris
Residential, Inc. (NYSE: VRE) ("the Company"), a forward-thinking,
environmentally- and socially-conscious REIT that primarily owns,
operates, acquires and develops Class A multifamily properties,
today released its 2022 ESG Report. The report, which is available
on the Company's website here, details the initiatives Veris
Residential executed over the last year to fulfill its commitment
of creating 'Communities with Purpose.' Throughout 2022, Veris
Residential continued to implement sustainable best practices
valuing diversity, equity, and inclusion, becoming an even more
responsible company for the benefit of all stakeholders.
With the release of its report, Veris Residential is today
announcing that it has been recognized as the first company
globally to receive the WELL Equity Rating across its managed
portfolio, as well as for its corporate headquarters. The WELL
Equity Rating provides a framework for improving access to health
and well-being, celebrating diversity, and prioritizing
inclusivity, while creating an environment where all people can
thrive. It addresses disparities in populations that have been
traditionally marginalized and underrepresented. This noteworthy
achievement follows Veris Residential's 5-Star rating by the Global
Real Estate Sustainability Benchmark (GRESB) and its GRESB Public
Disclosure rating of "A" in its first year of participating in the
benchmark.
Mahbod Nia, Chief Executive
Officer of Veris Residential, said, "At Veris Residential, we
recognize that the built sector has an outsized impact on global
carbon emissions and as such, have taken meaningful steps to
further mitigate our carbon footprint and combat climate change for
the well-being of our residents, employees, suppliers and
communities. I am incredibly proud of what our team has
accomplished on behalf of our stakeholders over the last year.
These accomplishments underscore Veris Residential's dedication to
responsibly owning and operating its properties, while remaining an
industry leader in ESG. Looking ahead, we will continue to evaluate
opportunities to enhance our properties to meet residents'
sustainability-conscious lifestyle preferences, empower our
employees with the tools they require to succeed, and reduce our
energy consumption in support of our communities and the planet—all
while creating value for our shareholders."
Highlights of the report include Mr. Nia's letter to
stakeholders and Veris Residential's ESG accomplishments in the
following areas:
- The Environment — including how the Company
assesses its climate-related risks and opportunities to develop a
comprehensive approach to sustainable development and
certification, as well as to reduce energy consumption.
-
- Exceeded goal of reducing Scope 1 and 2 emissions by 50% by
2030 compared to a 2019 baseline.
- Surpassed goal of reducing energy consumption by 20% by 2030,
with a 24% reduction in three years (between 2019 and 2022).
- Disclosed over 90% of the Company's operational carbon
footprint including disclosure of Scope 3 emissions.
- Set a new target of reducing water consumption by 20% between
2020 and 2030.
- Achieved Green Certification across 58% of its portfolio
(compared to 42% at the end of 2021).
- Opened Veris Farm at The BLVD
Collection and installed honeybee hives across 15 properties in
2023 after pilot program at RiverHouse 11 in 2022.
- People, Culture and Community — including how the
Company approaches its social impact by prioritizing the people it
serves—specifically its employees, residents and surrounding
communities—to ensure diversity, equity, inclusivity, health and
safety.
-
- Achieved gender equality at the management level ahead of 2025
goal; 60% of the executive team is female.
- Conducted first annual independent pay gap review and enhanced
employee benefits.
- Named as a member of the 2023 Bloomberg Gender-Equality Index
in its first year of submission.
- Certified as a Great Place to Work® for the second consecutive
year.
- Ranked No. 32 on Fortune's Best Workplaces In New York 2023
(among SMEs)
- Received WELL Equity Rating and WELL Health-Safety Rating from
the International WELL Building Institute™ across all managed
properties and the corporate headquarters.
- Raised more than $80k for St.
Jude Children's Research Hospital in addition to annual corporate
sponsorship.
- Ethics, Compliance and Governance — including how the
Company advances its engagement with all stakeholders, maintaining
its commitment to its Ethics and Compliance program, ensuring a
responsible supply chain, and defending itself against cyber
threats.
-
- Increased diversity of the Board of Directors to 33% female and
44% racially/ethnically diverse and added two new independent
directors.
- Launched third-party ethics hotline.
- Launched Supplier Diversity program with a commitment to
increase operational spending among minority suppliers by 25%
during 2023.
The 2022 ESG Report is available on Veris Residential's website
here.
About Veris Residential, Inc.
Veris Residential, Inc.
is a forward-thinking, environmentally- and socially-conscious real
estate investment trust (REIT) that primarily owns, operates,
acquires, and develops holistically inspired, Class A multifamily
properties that meet the sustainability-conscious lifestyle needs
of today's residents while seeking to positively impact the
communities it serves and the planet at large. The company is
guided by an experienced management team and Board of Directors and
is underpinned by leading corporate governance principles, a
best-in-class and sustainable approach to operations, and an
inclusive culture based on equality and meritocratic empowerment.
For additional information on Veris Residential, Inc. and our
properties available for lease, please visit
https://verisresidential.com.
For Veris Residential:
Amanda
Shpiner/Grace Cartwright
Gasthalter & Co.
212-257-4170
veris-residential@gasthalter.com
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SOURCE Veris Residential, Inc.
