SmartCentres Unveils Cutting-Edge 2023 ESG Strategies
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SmartCentres Releases 2023 ESG Report
SmartCentres Real Estate Investment Trust (“SmartCentres” or the “Trust”) (TSX:SRU.UN) announced the release of its 2023 ESG Report that highlights key ESG initiatives and accomplishments alongside future commitments to integrate ESG strategy into its operations.
Commitment to ESG Integration
“SmartCentres is committed to integrating ESG considerations across our organization to enhance value to all stakeholders and to the communities in which we operate. We accomplish this by working closely with our tenants and other partners in how we manage our existing portfolio, as well as how we plan our developments for future generations,” said Mitchell Goldhar, Executive Chairman and CEO, SmartCentres.
Highlights from the 2023 ESG Report
SmartCentres' third annual ESG Report showcases several notable achievements from the past year, emphasizing the Trust's dedication to sustainable practices:
Housing Developments
SmartCentres completed over 3,000 homes, further supported by an additional 1,000 residential units currently in development. These efforts demonstrate the Trust's ongoing contribution to addressing housing needs.
Benchmark Improvements
The Trust improved its Global Real Estate Sustainability Benchmark score by 25 points over the previous year’s submission, indicating substantial progress in sustainability metrics.
Energy Efficiency Initiatives
Efforts to enhance energy efficiency included continued progress on LED conversions throughout its retail portfolio, leading to a 15% reduction in electricity consumption for properties that underwent retrofitting.
Certification and Governance
SmartCentres achieved BOMA Best Gold certification for 90% of its retail properties while also prioritizing strong governance through the establishment of an ESG Sub-Committee to oversee ESG matters.
Diversity and Cybersecurity
Notably, the Trust exceeded its Board diversity target, with women representing 38% of the Trustees, and independent trustees making up 75% of the Board. Additionally, SmartCentres improved its cybersecurity practices and upgraded enterprise risk management systems to ensure effective monitoring of risks.
About SmartCentres REIT
SmartCentres is recognized as one of Canada’s largest fully integrated REITs, operating a best-in-class and expanding mixed-use portfolio consisting of 195 strategically located properties across the country. The Trust maintains approximately $12.0 billion in assets, encompassing 35.2 million square feet of income-generating retail and premium office spaces with 98.2% occupancy on 3,500 acres of owned land.
The foundations of SmartCentres date back over thirty years, driven by the belief that Canadians deserve accessible and affordable products in convenient locations. This commitment has fostered growth and expansion into communities nationwide.
Evolution to SmartLiving
As the needs of Canadians evolve, SmartCentres adapts by focusing on transit-connected residential accommodations, which include rental apartments, condos, townhomes, and facilities for seniors, complementing retail and office spaces. The emergence of SmartLiving signifies a transformative $15.2 billion plan aimed at reimagining shopping centers into vibrant city centers.
Company Contact Information
For more information, please visit www.smartcentres.com or contact:
Mitchell Goldhar
Executive Chairman and CEO
(905) 326-6400 ext. 7674
mgoldhar@smartcentres.com
Rudy Gobin
EVP Portfolio Management & Inv.
(905) 326-6400 ext. 7684
rgobin@smartcentres.com
Frequently Asked Questions
What is the focus of SmartCentres' 2023 ESG Report?
The 2023 ESG Report highlights SmartCentres' key initiatives aimed at integrating ESG strategies into their business practices.
How many homes has SmartCentres completed recently?
SmartCentres has completed over 3,000 homes and has an additional 1,000 residential units in the development phase.
What significant improvement did SmartCentres achieve in sustainability metrics?
The Trust improved its Global Real Estate Sustainability Benchmark score by 25 points from the previous year.
What is SmartCentres' approach to board diversity?
SmartCentres exceeded its Board diversity target with women representing 38% of the Trustees, and independent trustees comprising 75% of the Board.
What plan does SmartCentres have for future community developments?
SmartCentres has a $15.2 billion plan to transform properties from shopping centers into integrated city centers to meet community needs.
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