Veris Residential Releases 2022 ESG Report
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.
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.
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.
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.
