CHEVY CHASE, Md.--(BUSINESS WIRE)--
Named 2019 Global Sector Leader for the Diversified – Office/Residential Sector
JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, today announced that it has achieved a 4-star rating from the Global Real Estate Sustainability Benchmark (GRESB®) in the 2019 Real Estate Assessment, ranking fifth among 29 global participants with mixed-use office and multifamily portfolios. JBG SMITH outperformed its peer group average by 8 points with an overall score of 80. In addition, JBG SMITH was awarded the 2019 Global Sector Leader for the Diversified - Office/Residential sector designation. The GRESB Sector Leader Awards Program recognizes real estate and infrastructure companies, funds and assets that have demonstrated outstanding leadership in sustainability.
Each year GRESB assesses and benchmarks the environmental, social and governance (ESG) performance of real assets worldwide and monitors the sector’s progress toward global sustainability goals. GRESB assessments are guided by what investors, and the industry, consider to be material issues in the sustainability performance of real asset investments. These goals are aligned with international reporting frameworks such as the Global Reporting Initiative (GRI) and the Principles for Responsible Investing (PRI).
In its second year as a public company, JBG SMITH has continued to demonstrate a commitment to ESG principles through transparency in management practices and disclosure of key performance metrics. JBG SMITH’s investment strategy focuses on alignment of long-term business plans with sustainable development goals, positioning assets to meet market demands for sustainability and achieving long-term targets for reducing carbon emissions.
“In 2018, we established our strength as an industry leader with our first annual submission to the Global Real Estate Sustainability Benchmark, and we are proud to have earned a 4-star rating for the second year in a row,” said JBG SMITH CEO Matt Kelly. “We are demonstrating our commitment to the long-term sustainability of our region with the successful pursuit and award of the new Amazon headquarters in National Landing. We continue to prioritize local environmental objectives to meet aggressive carbon and energy reduction goals, and we are working to address housing affordability in the DC region through the Washington Housing Initiative. We believe that strong environmental sustainability, social responsibility, and corporate governance practices are essential to our focus of maximizing long term net asset value (NAV) per share, and we are committed to prioritizing these goals in our future investments.”
About JBG SMITH
JBG SMITH is an S&P 400 company that owns, operates, invests in, and develops a dynamic portfolio of high-quality mixed-use properties in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Capital region, including National Landing where it now serves as the exclusive developer for Amazon’s new headquarters. JBG SMITH’s portfolio currently comprises 20.6 million square feet of high-quality office, multifamily and retail assets, 98% at our share of which are Metro-served. It also maintains a robust future pipeline encompassing 18.7 million square feet of mixed-use development opportunities. For more information on JBG SMITH please visit www.jbgsmith.com.
Mission-driven and investor-led, GRESB is the environmental, social and governance (ESG) benchmark for real assets. We work in collaboration with the industry to provide standardized and validated ESG data to the capital markets. The 2019 real estate benchmark covers more than 1,000 property companies, real estate investment trusts (REITs), funds, and developers. Our coverage for infrastructure includes 500 infrastructure funds and assets. Combined, GRESB represents over USD 4 trillion in real asset value. More than 100 institutional investors, with over USD 22 trillion AUM, use GRESB data to monitor their investments, engage with their managers, and make decisions that lead to a more sustainable real asset industry.
Learn more at GRESB.com.