AVALONBAY COMMUNITIES, INC. (NYSE: AVB) ? AvalonBay Communities Inc. [NYSE: AVB] has been recognized for leadership in corporate sustainability by global environmental non-profit CDP, securing a place on its prestigious ?A List' for tackling climate change.
The Company was acknowledged for its actions to cut emissions, mitigate climate risks, and develop the low-carbon economy, based on the data reported by the Company through CDP's 2021 climate change questionnaire.
AvalonBay is one of a small number of high-performing companies out of nearly 12,000 companies that were scored. Through significant demonstrable action on climate, AvalonBay is leading on corporate environmental ambition, action, and transparency worldwide.
CDP's annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2021, over 590 investors with over $110 trillion in assets and 200 major purchasers with $5.5 trillion in procurement spend requested companies to disclose data on environmental impacts, risks, and opportunities through CDP's platform. A record-breaking 13,000 companies responded.
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don't disclose or provided insufficient information are marked with an F.
"We are proud that our climate change and emissions reduction actions and investments have earned recognition on the prestigious CDP A List," said Timothy J. Naughton, Chairman and CEO of AvalonBay. "It is a testament to the over 3,000 AvalonBay associates working each day to address the challenges of climate change and focusing on achieving our science-based emission reduction targets. We are committed to do our part, as a multifamily building owner and operator, to reduce greenhouse gas emissions and address the risks posed by climate change to the communities in which we do business."
Paul Simpson, CEO of CDP, said: "Many congratulations to all the companies on this year's A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, even more so in the year of COP26 and the IPCC's Sixth Assessment Report. The scale of the risk to businesses from climate change, water insecurity and deforestation can no longer be ignored, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector is essential for securing global ambitions for a net-zero, nature positive and equitable world. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today."
The full list of companies that made this year's CDP A List is available here, along with other publicly available company scores: https://www.cdp.net/en/companies/companies-scores
About AvalonBay Communities, Inc.
As of September 30, 2021, the Company owned or held a direct or indirect ownership interest in 293 apartment communities containing 87,416 apartment homes in 13 states and the District of Columbia, of which 17 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring, and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado. More information may be found on the Company's website at http://www.avalonbay.com. For additional information on the Company's ESG efforts, please reference the most recent Corporate Responsibility report or contact Mark Delisi, Vice President of Corporate Responsibility at [email protected].
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