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OTTAWA, ON, Sept. 23, 2024 /CNW/ - Minto Apartment Real Estate Investment Trust (TSX: MI.UN) (the "REIT") today announced the publication of its 2023 Environmental, Social and Governance ("ESG") Report (the "Report"). The Report highlighted the REIT's continued progress in addressing the issues that are important to its investors, employees and communities.
"Our commitment to ESG is reflected across our operating footprint. From the way we treat our employees to doing the right thing for our residents, the environment, and the future of our business, we have integrated ESG into every aspect of what we do," said Jonathan Li, President and Chief Executive Officer of Minto Apartment REIT. "We're building a resilient business through governance structures that incorporate strong ESG dimensions to inform our business practices; we're making a positive impact on the communities we serve by fostering meaningful connections with them and the employees that help us carry out our mission; and we're taking steps towards championing environmental responsibility, including consuming fewer natural resources and reducing greenhouse gas emissions."
"Underlining our commitment to ESG, the REIT participates in the GRESB real estate assessment, which independently provides actionable and transparent environmental, social and governance data to financial market participants," added Mr. Li. "In 2023, we scored 96 in the GRESB Public Disclosure evaluation, earning a Level A designation. In the Real Estate Assessment we scored 78, earning a Green Star designation and 3-star rating. These scores reflect our commitment to transparency and excellence."
Other 2023 ESG highlights included:
Diversity and Inclusion
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The REIT's 2nd annual DEI Survey scored 76%, which is 9% above the industry average, with 46% of respondents identifying as People of Colour; and
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The REIT increased female representation on its Board of Trustees from 29% in 2021 to 43% in 2023.
Community Engagement
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The REIT launched Mentorship @ Minto, with 12 mentors and 13 mentees joining in the first month;
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The BRAVO! recognition program received 3,532 nominations, demonstrating strong company culture; and
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The REIT ran hundreds of events to bring residents together and create a sense of belonging in communities across the country.
Environmental Stewardship
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The REIT has reduced rental property energy consumption by 17% since 2019;
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Rental property carbon emissions have been reduced by 16% since that time, as the REIT refines and evolves its roadmap toward a net zero carbon future; this includes the deep retrofit at Minto Yorkville, where the REIT aims to reduce energy use by 50% and greenhouse gas emissions by 80%; and
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The REIT has invested $7.4 million in environmental improvements across its property portfolio over the past five years.