The Green Cities Company Releases Annual ESG Impact Report
The Green Cities Company, an investment management firm pioneering environmental and social responsibility in the real estate sector, announced the publishing of its annual Environmental and Community Impact Report. As the Firm continues to develop industry-leading, value-driving Environmental, Social, and Governance (ESG) initiatives, the annual Impact Report highlights the innovations and progress made in ESG throughout the Green Cities portfolio.
With $1.9B of assets under management and 4.8M square feet of multifamily and office assets in select U.S. markets, Green Cities believes its approach to ESG is central to its successful investment strategy. The Firm evaluates, measures, and advances ESG initiatives through its proprietary Green Cities Index – a robust framework tracking the environmental footprint of an asset, health and wellness strategies for each property’s occupants, the diversity and inclusivity profile of its communities, and the resilience and carbon footprint of every asset.
As a Minority- and Women-Owned Business, Green Cities also has a visionary commitment to Diversity, Equity, Inclusion & Access (DEI&A) – a unique positioning among its peers. By adding the concept of “access” to traditional DE&I considerations, the Firm aims to elevate the built environment to a channel that advocates for social change.
Highlights of the Impact Report include:
- Industry-leading transparency at the portfolio, fund, and asset levels.
- Detailed reporting through the Green Cities Index, in alignment with the Firm’s reporting to the United Nations-supported Principles of Responsible Investment (PRI) and GRESB.
- Environmental impact metrics such as a portfolio-wide 35% reduction in energy use and 26% reduction of water use over the Environmental Protection Agency baseline in 2021.
- Expansion on Green Cities’ public commitment to the ULI Greenprint Net Zero Carbon Operations Goal including strategies for near-term decarbonization.
- Deep consideration of tenant Health and Wellbeing through equitable and inclusive strategies such as biophilic and universal design, as well as indoor air quality and viral response.
- Social impact metrics aligned with the Firm’s certification as a B Corporation, including a cumulative generation of approximately 4,000 union labor jobs and nearly 50 local vendor partnerships across the U.S.
Molly Bordonaro, Managing Partner of Green Cities, stated, ” We are so proud to continue to be stewards of sustainability and social impact within the real estate investment management industry. Utilizing the expertise of our fully integrated team, we remain committed to investing in and managing assets that deliver strong returns to our investors while also positively enhancing local communities, our tenant wellbeing, and our planet.”
The Green Cities Company acquires, manages, and develops multifamily, commercial, and mixed-use assets driving competitive returns with its deep expertise in acquisition, construction management, design and asset management – combined with meaningful attention to ESG considerations. With this vertically integrated structure of in-house expertise, the Firm uniquely adds investment, environmental, and societal value through modernized design and capital improvements, advanced operations and management, and the integration of truly sustainable and healthy initiatives.
The full report is available on the firm’s website: https://greencities.com/reporting/.
Source: The Green Cities Company