Alexandria Real Estate Equities
ARE Releases 2021 ESG Report Highlighting Its Leadership and Innovative Approach to Climate Resilience, Design and Operations of High-Performance Laboratory Buildings and Corporate Social Responsibility
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, agtech and technology campuses in AAA innovation cluster locations, today announced that it has released its 2021 ESG Report. Alexandria's fifth ESG-focused report demonstrates Alexandria's commitment to and execution of its industry-leading environmental, social and governance (ESG) strategy.
"As a mission-driven company dedicated to making a positive and lasting impact on the world, ESG is core to our DNA. We believe that doing well in our business and doing good for society are inherently linked, and this belief has shaped our multifaceted business model and ESG platform," said Dean A. Shigenaga, president and chief financial officer of Alexandria Real Estate Equities, Inc. "We understand that it is vital to strive toward higher levels of sustainability and ESG performance, and we are extremely proud of our broad recognition for leadership across our ESG platform. We have an exceptional team, whose dedication and attention enable the longstanding trusted relationships we have built with our tenants, and we remain focused on partnering with them to help advance their strategic sustainability goals as much as to enable them to pursue novel medicines that have the potential to improve people's lives."
The company's report details its efforts to advance impactful ESG areas, including by 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. The report also showcases Alexandria's leadership in catalyzing the health, wellness, safety and productivity of its employees, tenants, local communities and the world through the built environment and beyond, including through its visionary social responsibility initiatives and its commitment to upholding the highest levels of transparency, integrity and accountability. Notable efforts and accomplishments presented in the report include:
- Being recognized as the Global Sector Leader and achieving the highest 5 Star rating in the Global Real Estate Sustainability Benchmark (GRESB) Diversified Listed sector and earning the #2 ranking in the U.S. Science & Technology sector, as well as maintaining its "A" disclosure score;
- Ranking as the #5 most sustainable REIT in Barron's "10 Real Estate Companies That Are Both Greener and More Profitable";
- Furthering the development of its approach to physical and transition climate-related risk by initiating a process to assess and understand potential physical risk and pathways to mitigate and adapt to climate change, as well as preparing for the transition to a low-carbon economy and continuing to 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 will harness geothermal energy to target a LEED Zero Energy certification and a 92% reduction in fossil fuel use as a key component of its design to be the most sustainable laboratory building in Cambridge; at 751 Gateway Boulevard, which is pursuing electrification and is tracking to be the first all-electric laboratory building in South San Francisco; and at the Alexandria Center® for Life Science – South Lake Union mega campus in Seattle, where the company is incorporating an innovative wastewater heat recovery system;
- 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 its Greater Boston region starting in 2024;
- Committing over $100 million through its strategic venture platform, Alexandria Venture Investments, to innovative companies developing groundbreaking technologies to mitigate the effects of climate change;
- Donating mission-critical funds to over 290 non-profit organizations, as well as volunteering over 1,500 hours through Operation CARE, the company's employee social impact program;
- Receiving an honorable mention in Fast Company's prestigious 2021 Innovation by Design Awards in its new Impact category, which recognizes designs that have a major cultural or social impact, for its OneFifteen campus;
- Achieving a Fitwel Viral Response Certification with Distinction, the highest designation within the Viral Response Module, for the second consecutive year;
- Partnering with the Center for Active Design (CfAD), the operator of Fitwel, to develop a unique life science scorecard and earning the first Fitwel Life Science certification for 300 Technology Square in the Cambridge submarket of Greater Boston; and
- Earning the 2021 Nareit Gold Investor CARE (Communications and Reporting Excellence) Award in the Large Cap Equity REIT category, its fourth consecutive and sixth overall Gold Award for superior shareholder communications and reporting excellence — the most Nareit Investor CARE Gold Awards earned by any equity REIT.
Alexandria's 2021 ESG Report has obtained third-party limited assurance from DNV Business Assurance USA, Inc. (DNV) and was developed in accordance with the Core option of the Standards of the Global Reporting Initiative (GRI). Learn more about the company's comprehensive ESG approach and its progress on key initiatives in its 2021 ESG Report, which is available on the Corporate Responsibility page of the company's website.