Alexandria Real Estate Equities, Inc. Receives Two #1 Global GRESB Rankings, and Earns 5 Star Rating for Highly Sustainable Development Initiatives and "A" Disclosure Score in the 2020 GRESB Assessment, Reinforcing Its ESG Leadership
PASADENA, Calif., Dec. 1, 2020 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT and the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, today announced that it has been recognized as the #1 real estate company in the world in the Global Real Estate Sustainability Benchmark (GRESB) 2020 Science & Technology sector for its leadership in championing sustainability initiatives that promote the health and well-being of its tenants and employees and enhance local communities. Alexandria also earned the #1 global ranking and a 5 Star Rating—the highest GRESB Rating—in its Diversified Listed Peer Group for its highly sustainable development work and green building initiatives, as well as an "A" disclosure score for the third consecutive year. GRESB is one of the leading global environmental, social and governance (ESG) benchmarks for real estate and infrastructure investments across the globe.
"As a mission-driven company that pioneered the life science real estate asset class, we are passionately dedicated to making a positive and lasting impact on the world," said Dean A. Shigenaga, co-president and chief financial officer. "ESG is at the core of what we do, and these results reflect our industry-leading programs, policies and performance and underscore our belief that our corporate responsibility and business success are inherently linked. As the world continues to rapidly change, we remain unwavering in our commitment to develop and operate efficient and healthy buildings, reduce carbon pollution and manage climate risk, as well as promote health, wellness and nutrition for the benefit of our tenants, employees, local communities, stockholders and society."
Alexandria's impressive #1 Global Ranking in its Diversified Listed Peer Group highlights its position as a leader in highly sustainable development practices that aim to decarbonize construction. Examples of the company's green building initiatives include pursuing its first Zero Energy Certification building in its South San Francisco submarket, being the first REIT to use the Embodied Carbon in Construction Calculator (EC3) tool to measure and reduce embodied carbon in development projects, and targeting minimum LEED® Gold certifications and healthy building certifications on new ground-up development projects.
Alexandria's "A" disclosure score from GRESB reflects its transparency around ESG practices and performance across its vast North America asset base, including its proactive approach to addressing impacts of climate change as well as its longstanding leadership in promoting health and wellness. The company's sustainability programs, goals and accomplishments across ESG to date are showcased in its 2019 Corporate Responsibility Report, which incorporates guidelines from the Global Reporting Initiative (GRI) Core option and the Task Force on Climate-related Financial Disclosures (TCFD).
Notable 2019 achievements as of December 31, 2019, include receiving the Fitwel Impact Award for the highest-scoring Fitwel project of all time for Alexandria LaunchLabs® in Cambridge and achieving or being in the process of achieving 37 of the 50 healthy building certifications it has targeted by 2025. Alexandria also achieved seven LEED Gold certifications last year in its target to secure LEED Gold or Platinum certifications on its new ground-up developments. Additionally, the company is tracking ahead of the average annual pace needed to reach its 2025 environmental goals, which aim to reduce carbon pollution by 30%, energy consumption by 25% and potable water consumption by 10%, for its buildings in operation. Alexandria has also reduced its like-for-like carbon pollution by 17.9% since 2015, including by 3.4% from 2018 to 2019.
Alexandria's noteworthy GRESB results follow its recent recognition as the first-ever company to achieve a Fitwel Viral Response Certification with Distinction, underscoring the company's role as a leader in cutting-edge healthy building and safety standards, and its receipt of its third consecutive and fifth overall Nareit Gold Investor CARE (Communications & Reporting Excellence) Award in the Large Cap Equity REIT category for superior shareholder communications and reporting excellence. Additionally, in March 2020, Alexandria issued its second Green Bond Allocation Report, which details the company's progress in allocating its green bond proceeds, along with related environmental impact metrics. Since June 2018, the company has issued $1 billion in green bonds.
To learn more about Alexandria's long-term and purposeful corporate responsibility program, please visit www.are.com/corporate-responsibility.html.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® urban office REIT, is the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $29.2 billion as of September 30, 2020, and an asset base in North America of 47.4 million SF. The asset base in North America includes 31.2 million RSF of operating properties and 2.8 million RSF of Class A properties undergoing construction, 7.2 million RSF of near-term and intermediate-term development and redevelopment projects and 6.2 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, technology and agtech campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science, technology and agtech companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For more information on Alexandria, please visit www.are.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding Alexandria's ESG policies, practices and performance, its 2025 sustainability goals and its LEED and healthy building certifications. These forward-looking statements are based on Alexandria's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by Alexandria's forward-looking statements as a result of a variety of factors. All forward-looking statements are made as of the date of this press release, and Alexandria assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in the Company's forward-looking statements, and risks and uncertainties to the Company's business in general, please refer to the Company's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q.
CONTACT: Sara Kabakoff, Vice President – Communications, (626) 788-5578, skabakoff@are.com
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