Elme Communities Issues 2022 ESG Report
October 25 2022 - 5:45AM
Elme Communities (“Elme” or the “Company”) (NYSE: ELME), a
value-driven multifamily owner and operator, announced the
publication of its 2022 ESG Report. The report, which summarizes
the Company’s ESG initiatives, programs, and achievements in 2021
and into 2022, can be found on the ESG page of the Company’s newly
launched website at www.elmecommunities.com.
Within this report, Elme Communities announced
that it has achieved a 2022 Global Real Estate Sustainability
Benchmark (GRESB) Real Estate Assessment score of 77, the Company’s
highest rating to date. This is the ninth and final year for the
company to submit under GRESB as a diversified portfolio. Over the
past nine years, the Company saw an increase in its GRESB score of
over 30 points, from 45 in 2014 to 77 in 2022, thanks to the
efforts and focus on ESG across all departments. Furthermore, the
Company achieved a 2022 GRESB Public Disclosure rating of “A” for a
third consecutive year.
Following the company’s transformation into a
multifamily company, the Company expects to submit to GRESB as a
multifamily portfolio for the first time in 2023, benchmarking to a
new peer set.
“We’re proud of the growth and success of our
ESG program throughout our history,” says Eric Tilden, Senior
Director of ESG. “As a multifamily company focused on value living,
we have the opportunity to have an even greater environmental and
social impact. From emissions reduction strategies to resident
experience and wellbeing, we’re taking the best practices and
lessons learned from our former portfolio to build new programs and
initiatives that will improve our communities.”
Highlights in this year’s report:
- 74% of our multifamily homes
currently hold one or more active sustainability
certification
- 26% of electricity purchased was
renewable from local and regional sources
- Launched partnership with Esusu to
report on-time rent payments to all three credit bureaus to improve
resident credit history and support financial
inclusion
- Increased percentage of communities
equipped with EV charging stations from 5% to 42% in 2022
- Increased female representation on
our Board to 25%
- For the first time, our ESG report
included an index aligned with the Global Reporting Initiative
(GRI) to better communicate ESG impacts and simplify the finding of
information related to key issues
About Elme Communities
Elme Communities (formerly known as Washington
Real Estate Investment Trust or WashREIT) is committed to elevating
what home can be for middle-income renters by providing a higher
level of quality, service, and experience. The company is a
multifamily real estate investment trust that owns and operates
approximately 8,900 apartment homes in the Washington, DC metro and
the Sunbelt, and approximately 300,000 square feet of commercial
space. Focused on providing quality, affordable homes to a deep,
solid, and underserved base of mid-market demand, Elme Communities
is building long-term value for shareholders.
Forward Looking Statements
Certain statements in this release are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 and involve risks and
uncertainties. Forward-looking statements relate to expectations,
beliefs, projections, future plans and strategies, anticipated
events or trends and similar expressions concerning matters that
are not historical facts. In some cases, you can identify forward
looking statements by the use of forward-looking terminology such
as “may,” “will,” “should,” “expects,” “intends,” “plans,”
“anticipates,” “believes,” “estimates,” “predicts,” or “potential”
or the negative of these words and phrases or similar words or
phrases which are predictions of or indicate future events or
trends and which do not relate solely to historical matters. Such
statements involve known and unknown risks, uncertainties, and
other factors which may cause the actual results, performance, or
achievements of Elme Communities to be materially different from
future results, performance or achievements expressed or implied by
such forward-looking statements. Such risks and uncertainties
include, but are not limited to: risks associated with our ability
to execute on our strategies, including new strategies with respect
to our operations, our portfolio and our rebranding, including the
acquisition of apartment homes in the Southeastern markets, on the
terms anticipated, or at all, the operational benefits from our
operating model redesign on the timing contemplated or at all, and
to realize any anticipated returns and benefits, including the
performance of any acquired residential properties at the levels
anticipated; whether we will be able to prioritize ESG programs and
initiatives and their effect on our communities; and other risks
and uncertainties detailed from time to time in our filings with
the SEC, including our 2021 Form 10-K filed on
February 18, 2022. While forward-looking statements reflect
our good faith beliefs, they are not guarantees of future
performance. We undertake no obligation to update our
forward-looking statements or risk factors to reflect new
information, future events, or otherwise.
This release also includes certain
forward-looking non-GAAP information. Due to the high
variability and difficulty in making accurate forecasts and
projections of some of the information excluded from these
estimates, together with some of the excluded information not being
ascertainable or accessible, the Company is unable to quantify
certain amounts that would be required to be included in the most
directly comparable GAAP financial measures without unreasonable
efforts.
Contact:Investor RelationsAmy
Hopkins202-774-3253ahopkins@elmecommunities.com
Media RelationsDeanna
Schmidt202-774-3131dschmidt@elmecommunities.com
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