SmartCentres Unveils 2023 ESG Report
SmartCentres Real Estate Investment Trust (“SmartCentres” or the “Trust”) (TSX:SRU.UN) has announced the release of its 2023 ESG Report. This report highlights key ESG initiatives and accomplishments while outlining future commitments to incorporate ESG strategies into its operations.
Dedication to ESG Integration
“SmartCentres is dedicated to embedding ESG considerations throughout our organization to enhance value for all stakeholders and the communities we serve. We achieve this by collaborating closely with our tenants and partners in managing our current portfolio and planning developments for future generations,” stated Mitchell Goldhar, Executive Chairman and CEO of SmartCentres.
Key Takeaways from the 2023 ESG Report
The third annual ESG Report from SmartCentres showcases several significant achievements from the past year, underscoring the Trust's commitment to sustainable practices:
Residential Developments
SmartCentres has successfully completed over 3,000 homes, with an additional 1,000 residential units currently under development. These initiatives reflect the Trust's ongoing efforts to address housing needs.
Improvements in Benchmark Scores
The Trust has increased its Global Real Estate Sustainability Benchmark score by 25 points compared to last year’s submission, demonstrating substantial progress in sustainability metrics.
Energy Efficiency Efforts
SmartCentres has made strides in energy efficiency, including ongoing LED conversions across its retail portfolio, resulting in a 15% reduction in electricity consumption for properties that have undergone retrofitting.
Certification and Governance Initiatives
SmartCentres achieved BOMA Best Gold certification for 90% of its retail properties and has established an ESG Sub-Committee to oversee governance and ESG matters effectively.
Diversity and Cybersecurity Enhancements
The Trust has surpassed its Board diversity goals, with women making up 38% of the Trustees and independent trustees constituting 75% of the Board. Additionally, SmartCentres has strengthened its cybersecurity practices and upgraded its enterprise risk management systems to ensure effective risk monitoring.
About SmartCentres REIT
SmartCentres is recognized as one of Canada’s largest fully integrated REITs, boasting a best-in-class and expanding mixed-use portfolio that includes 195 strategically located properties nationwide. The Trust has approximately $12.0 billion in assets, comprising 35.2 million square feet of income-generating retail and premium office spaces, with an impressive occupancy rate of 98.2% across 3,500 acres of owned land.
With roots extending over thirty years, SmartCentres was founded on the belief that Canadians deserve access to affordable products in convenient locations. This commitment has fueled growth and expansion into communities across the country.
Transition to SmartLiving
As the needs of Canadians evolve, SmartCentres is adapting by focusing on transit-oriented residential options, which include rental apartments, condos, townhomes, and facilities for seniors, all complementing its retail and office spaces. The introduction of SmartLiving represents a transformative $15.2 billion initiative aimed at reimagining shopping centers into vibrant urban hubs.
Contact Information
For more information, please visit www.smartcentres.com or reach out to:
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.
