Allied Properties Sets Ambitious Climate Goals for the Future

Allied Properties Announcements: Commitment to Sustainability

Allied Properties Real Estate Investment Trust (TSX:AP.UN) has made an exciting announcement regarding its efforts to combat climate change. The company is committing to establish both near and long-term greenhouse gas (GHG) emissions reduction targets. These goals will align closely with the Science Based Targets initiative (SBTi) and support a pathway for decarbonization that aims for a limit of 1.5°C.

Setting Science-Based Targets in Sustainability

When it comes to ensuring a progressive approach to sustainability, Allied's commitment is crucial. The company plans to apply these GHG reduction targets to both its rental and development portfolios. To maintain transparency, Allied will submit its proposed targets for validation by the SBTi within the first half of 2025, making a point to disclose them once they receive validation. This proactive step reinforces Allied’s reputation as a leader in sustainable real estate practices.

2024 GRESB Scores Outperforming Peers

Along with its ambitious sustainability targets, Allied also revealed some impressive scores from the 2023 GRESB (Global Real Estate Sustainability Benchmark) assessments. The company achieved a score of 84 for its standing investments and an impressive 86 for its developments. This performance exceeds the GRESB average for both categories, placing Allied five points higher than the peer average in standing investments, and just two points below the peer average for developments.

The Importance of GRESB Scores

The GRESB 2024 benchmark has raised standards significantly and includes enhancements that focus on critical ESG (environmental, social, and governance) factors essential for meeting the evolving expectations of investors and stakeholders. Allied's ability to maintain strong performance in this assessment speaks volumes about its ongoing commitment to long-term sustainability and responsibility in the real estate sector.

Allied’s Commitment to Urban Workspaces

Allied Properties has established itself as a prominent owner-operator of distinctive urban workspaces in major Canadian cities. The company's mission aims to provide organizations with sustainable workplaces that promote human wellness, creativity, connectivity, and diversity. Through its activities, Allied aspires to make continuous contributions to urban environments and cultures, striving to inspire and elevate communities across Canada.

Elevating Urban Living

In a world increasingly focused on wellness and sustainability, Allied is positioning itself at the forefront of creating work environments that not only benefit businesses but also enhance the quality of life for all individuals. It seeks to provide spaces that reflect the values of its tenants while addressing the broader environmental goals that our communities need.

Contact Information for Inquiries

For additional information regarding Allied's initiatives and announcements, individuals are encouraged to reach out:

Cecilia C. Williams, President & CEO
(416) 977-9002
cwilliams@alliedreit.com

Nanthini Mahalingam, Senior Vice President & CFO
(416) 977-9002
nmahalingam@alliedreit.com

Frequently Asked Questions

What commitments has Allied Properties made recently?

Allied Properties has committed to setting near- and long-term greenhouse gas emissions reduction targets aligned with the Science Based Targets initiative.

What are GRESB scores and why are they important?

GRESB scores measure a company's sustainability practices against industry peers. Allied's scores reflect its strong commitment to environmental responsibility and sustainable development.

How does Allied Properties contribute to urban communities?

Allied strives to provide sustainable workspaces that enhance human wellness, creativity, and connectivity while contributing positively to urban culture.

When will Allied's GHG reduction targets be validated?

Allied plans to submit its emissions reduction targets for validation in the first half of 2025, with plans for public disclosure after validation.

How can I contact Allied Properties for more information?

Interested parties can reach out via email to Cecilia C. Williams or Nanthini Mahalingam using the provided contact information.

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