Alexandria Real Estate Equities, Inc.'s Continuing Cutting-Edge Sustainability Initiatives and Performance Highlighted in the 2022 GRESB
Alexandria Real Estate Equities, Inc. (NYSE: ARE ), the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, agtech and technology campuses in AAA innovation cluster locations with over 1,000 tenants, continues to receive broad recognition for its pioneering leadership across its environmental, social and governance (ESG) platform, including multiple noteworthy achievements in the 2022 GRESB Real Estate Assessment — the leading global ESG benchmark for the real estate industry. For the benefit of its tenants, employees, clusters and the world at large, Alexandria remains focused on driving high-performance building design and operations to reduce carbon emissions, mitigating climate-related risk in its real estate portfolio and investing in and providing essential infrastructure for sustainable agrifoodtech companies. Alexandria also continues to catalyze the health and vitality of its local communities and drive tangible change through its eight social responsibility pillars, which include disease and other threats to human health, opioid addiction and the mental health and suicide crisis, to address some of today's most urgent and prevalent societal challenges.
"As a one-of-a-kind mission-driven company committed to making a positive and lasting impact on the world, ESG is core to our DNA," said Dean A. Shigenaga, president and chief financial officer of Alexandria Real Estate Equities, Inc. "Our longstanding ESG dedication and leadership, reflected in our 2022 GRESB results, represent our team's long-term strategic approach to advancing our comprehensive ESG initiatives. We strive to make continuous improvements to our ESG platform and partner with our tenants to help them realize their ESG goals and priorities."
Alexandria Earns Multiple Noteworthy Achievements in the 2022 GRESB Real Estate Assessment
Alexandria was recognized by GRESB as a Regional and Global Sector Leader in the Science & Technology sector for outstanding ESG integration in its value-creation development projects. The company also achieved the #2 ranking in the Diversified Listed sector for its mission-critical operating assets and, for the fifth consecutive year, was awarded an "A" disclosure score for its transparency around ESG practices and reporting. With these latest GRESB honors, Alexandria has earned "Green Star" recognitions in the operating asset benchmark for the sixth consecutive year and in the development benchmark for the third consecutive year since the latter category's 2020 launch.
"GRESB Sector Leaders are the top-performing organizations leading the way to a net-zero future and pulling the industry forward," said Sebastien Roussotte, chief executive officer of GRESB. "We applaud this year's Sector Leaders for their commitment, leadership and dedication to ESG and sustainability."
Notable efforts and accomplishments that contributed to Alexandria's 2022 GRESB results include:
- Furthering its climate readiness approach by initiating a process to assess and understand potential physical risks as well as pathways to mitigate and adapt to climate change, including continuing to prepare for a low-carbon economy and develop science-based targets;
- Implementing innovative solutions to minimize fossil fuel use in its state-of-the-art laboratory development projects, such as at 325 Binney Street, which has been designed to be the most sustainable laboratory building in Cambridge and at 751 Gateway Boulevard, which is tracking to be the first all-electric laboratory building in South San Francisco;
- Increasing its investment in renewable electricity to mitigate carbon emissions in its existing asset base, including through a large-scale solar power purchase agreement that will supply renewable electricity to buildings in its Greater Boston region starting in 2024;
- Committing over $100 million through Alexandria Venture Investments to disruptive investments that are driving solutions to combat climate change;
- Achieving a Fitwel Viral Response Certification with Distinction for the second consecutive year; and partnering with the operator of Fitwel to develop a rigorous, evidence-based healthy building framework specifically for laboratory buildings and earning the subsequent inaugural Fitwel Life Science certification; and
- Earning the 2022 Nareit Investor CARE (Communications and Reporting Excellence) Silver Award in the Large Cap Equity REIT category, its fifth consecutive and seventh overall CARE Award, for consistency in delivering transparent, high-quality and efficient disclosures.
Alexandria Named a 2022 Mass Save® Climate Leader for Its Greater Boston Cluster
Alexandria has been recognized as a Climate Leader by the Sponsors of Mass Save, a collaborative of energy utilities and energy efficiency service providers in Massachusetts. Alexandria — the only real estate company to be selected in the inaugural cohort of honorees — leveraged the incentives, support and rebates offered by Mass Save to make impactful investments in energy efficiency and reduce its carbon footprint. Utilizing these programs in its Greater Boston market, Alexandria has implemented over 65 energy conservation projects, such as efficient HVAC system and lighting upgrades across more than 40 buildings over the last 10 years, resulting in estimated recurring annual energy savings of over 5 million kWh.
"The 2022 Climate Leaders understand what it takes to fight back against the climate crisis, demonstrating the strides we can take towards a more sustainable future with a strong operational commitment to energy efficiency," said Tilak Subrahmanian, vice president of energy efficiency and electric mobility at Eversource, one of the Sponsors of Mass Save. "These companies are proving that environmentally conscious businesses are the model for success moving forward, and we look forward to continued collaboration with all our partners to help achieve the commonwealth's net-zero goals."