CAPREIT Awarded Green Star Designation in Inaugural 2020 Global Real Estate Sustainability Benchmark Submission
TORONTO, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX: CAR.UN) announced today that it earned a Green Star designation in its inaugural submission to the 2020 Global Real Estate Sustainability Benchmark (GRESB).
Ranked 6th amongst the participating listed residential multi-family companies in North America, CAPREIT’s strong performance in its first GRESB submission is the result of an ongoing commitment to environment, social and governance (ESG) as an integral part of CAPREIT’s sustainable leadership strategy. For over a decade, CAPREIT has integrated ESG practices into the way it invests in its assets, manages its operations, engages with its communities and communicates with its stakeholders. This submission to GRESB is a formal recognition of the strength of these initiatives.
“We are very proud of our inaugural GRESB ranking, which is a testament to CAPREIT’s long-standing belief that integrating sustainable practices into all aspects of our corporate culture will drive results and support CAPREIT’s long-term strategy as Canada’s leader in the multi-family residential industry, which will ultimately deliver better-measured results to our unitholders,” commented Mark Kenney, President and CEO.
CAPREIT’s 2019 ESG report can be found on the ESG page of CAPREIT’s website at www.caprent.com. The report gives an update on CAPREIT’s ESG objectives, initiatives and accomplishments.
ABOUT GRESB
GRESB is a mission-driven and investor-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to the capital markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world. In 2020 alone, more than 1,200 real estate portfolios reported to GRESB covering more than 96,000 assets. Their coverage for infrastructure includes more than 540 infrastructure portfolios and assets. Combined, the reported assets represent US $5.3 trillion AUM. The data is used by more than 100 institutional and financial investors to monitor investments across portfolios and navigate the strategic choices needed for the industry to transition to a more sustainable future. Learn more at GRESB.com.
ABOUT CAPREIT
As Canada’s largest publicly-traded provider of quality rental housing, CAPREIT currently owns or has interests in approximately 67,300 residential apartment suites, townhomes and manufactured housing community sites well-located across Canada, in the Netherlands and Ireland. For more information about CAPREIT, its business and its investment highlights, please visit our website at www.caprent.com or www.capreit.net.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
All statements in this press release that do not relate to historical facts constitute forward-looking statements. These statements represent CAPREIT's intentions, plans, expectations and beliefs and are subject to certain risks and uncertainties that could result in actual results differing materially from these forward-looking statements. These risks and uncertainties are more fully described in regulatory filings that can be obtained on SEDAR at www.sedar.com.
For more information, please contact:
| CAPREIT Mr. Michael Stein Chairman (416) 861-5788 | CAPREIT Mr. Mark Kenney President & CEO (416) 861-9404 | CAPREIT Mr. Scott Cryer Chief Financial Officer (416) 861-5771 |
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