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BETHESDA, Md., October 18, 2021--(BUSINESS WIRE)--JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, achieved a five-star rating from the Global Real Estate Sustainability Benchmark (GRESB®) in the 2021 Real Estate Assessment for both its operating portfolio and development pipeline.
JBG SMITH was ranked second of twelve in its sector, achieving five stars, the highest rating available in this assessment. In the development assessment, JBG SMITH ranked first in its sector in the U.S. JBG SMITH has been recognized as a Global Sector Leader in standing investments as well as a Global Sector Leader and Overall Regional Sector Leader in development. Additionally, JBG SMITH was ranked first in its comparison group for public disclosure level and has received an A score each year since the commencement of reporting in 2018.
Through the creation of time bound performance targets for both its operating assets and development pipeline, JBG SMITH has rapidly advanced its ESG objectives, paving the way for a low carbon future and in September, announced it had achieved carbon neutrality across its entire 16.1 million square foot operating portfolio. Building on this accomplishment, JBG SMITH intends for its properties to maintain carbon neutral operations annually, allowing the company to reduce its environmental footprint while also supporting the development of renewable energy technologies that prevent carbon from entering the atmosphere.
Each year, JBG SMITH has demonstrated a continued commitment to ESG principles through transparency in management practices and disclosure of key performance metrics. JBG SMITH’s investment strategy focuses on aligning 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.
"The five-star rating for our development pipeline marks an incredible achievement for JBG SMITH, and I am proud of the progress we have made and the high standards our team has maintained over the last few years," said Matt Kelly, JBG SMITH Chief Executive Officer. "JBG SMITH is dedicated to its ESG principles, and we will continue to strive to be the best we can be for our business and our community."
Added Kimberly Pexton, Vice President of Sustainability, "Full realization of our development pipeline will double our operating portfolio, and it is imperative that we create buildings that respond to decarbonization in design and construction. Our development plans intend to futureproof the communities which we serve by avoiding carbon emissions before we put a shovel in the ground."
About JBG SMITH
JBG SMITH owns, operates, invests in and develops a dynamic portfolio of mixed-use properties in the high growth and high barrier-to-entry submarkets in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Washington, DC metropolitan area. Over half of JBG SMITH’s holdings are in the National Landing submarket in Northern Virginia, where it serves as the exclusive developer for Amazon’s new headquarters, and where Virginia Tech’s planned new $1 billion Innovation Campus is located. JBG SMITH's portfolio currently comprises 17.2 million square feet of high-growth office, multifamily and retail assets at share, 98% of which are Metro-served. It also maintains a development pipeline encompassing 17.0 million square feet of mixed-use development opportunities. JBG SMITH is committed to the operation and development of green, smart, and healthy buildings and plans to maintain carbon neutral operations annually. For more information on JBG SMITH please visit www.jbgsmith.com.
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 140 institutional and financial investors to inform decision-making. For more information, visit GRESB.com
About GRESB Assessments
GRESB assesses and benchmarks the environmental, social, and governance (ESG) performance of real assets and development worldwide annually. It also 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. Furthermore, GRESB’s special recognition for leadership is based on a unique combination of sector, region, and nature of ownership.
Certain statements contained herein may constitute "forward-looking statements" as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations, and beliefs and are subject to numerous assumptions, risks and uncertainties. Consequently, the future results of JBG SMITH Properties ("JBG SMITH") may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as "approximate", "believes," "expects," "anticipates," "intends," "plans," "proposed," "would," "should," "may," or similar expressions in this press release. We also note the following forward-looking statements: our intention and plans to maintain carbon neutrality annually and our plans to futureproof our portfolio. Many of the factors that will determine the outcome of these and our other forward-looking statements and plans are beyond our ability to control or predict. These factors include, among others: adverse economic conditions in the Washington, DC metropolitan area, the timing of and costs associated with development and property improvements, financing commitments, and general competitive factors. For further discussion of factors that could materially affect the outcome of our forward-looking statements and other risks and uncertainties, see "Risk Factors" and the Cautionary Statement Concerning Forward-Looking Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and other periodic reports the Company files with the Securities and Exchange Commission. For these statements, we claim the protection of the safe harbor for forward looking statements contained in the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on our forward-looking statements. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements after the date hereof.
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Corporate Communications Senior Analyst
Senior Vice President, Investor Relations