OTTAWA,
ON, Sept. 23, 2024 /CNW/ - Minto Apartment
Real Estate Investment Trust (TSX: MI.UN) (the "REIT") today
announced the publication of its 2023 Environmental, Social and
Governance ("ESG") Report (the "Report"). The Report highlighted
the REIT's continued progress in addressing the issues that are
important to its investors, employees and communities.
"Our commitment to ESG is reflected across our operating
footprint. From the way we treat our employees to doing the right
thing for our residents, the environment, and the future of our
business, we have integrated ESG into every aspect of what we do,"
said Jonathan Li, President and
Chief Executive Officer of Minto Apartment REIT. "We're building a
resilient business through governance structures that
incorporate strong ESG dimensions to inform our business
practices; we're making a positive impact on the communities
we serve by fostering meaningful connections with them and the
employees that help us carry out our mission; and we're
taking steps towards championing
environmental responsibility, including consuming fewer
natural resources and reducing greenhouse gas emissions."
"Underlining our commitment to ESG, the REIT participates in the
GRESB real estate assessment, which independently provides
actionable and transparent environmental, social and governance
data to financial market participants," added Mr. Li. "In 2023, we
scored 96 in the GRESB Public Disclosure evaluation, earning a
Level A designation. In the Real Estate Assessment we scored 78,
earning a Green Star designation and 3-star rating. These scores
reflect our commitment to transparency and excellence."
Other 2023 ESG highlights included:
Diversity and Inclusion
- The REIT's 2nd annual DEI Survey scored 76%, which is 9% above
the industry average, with 46% of respondents identifying as People
of Colour; and
- The REIT increased female representation on its Board of
Trustees from 29% in 2021 to 43% in 2023.
Community Engagement
- The REIT launched Mentorship @ Minto, with 12 mentors and 13 mentees joining
in the first month;
- The BRAVO! recognition program received 3,532 nominations,
demonstrating strong company culture; and
- The REIT ran hundreds of events to bring residents together and
create a sense of belonging in communities across the country.
Environmental Stewardship
- The REIT has reduced rental property energy consumption by 17%
since 2019;
- Rental property carbon emissions have been reduced by 16% since
that time, as the REIT refines and evolves its roadmap toward a net
zero carbon future; this includes the deep retrofit at Minto
Yorkville, where the REIT aims to reduce energy use by 50% and
greenhouse gas emissions by 80%; and
- The REIT has invested $7.4
million in environmental improvements across its property
portfolio over the past five years.
The Report adheres to the reporting standards of the Global
Reporting Initiative and the Sustainability Accounting Standards
Board. It can be found by visiting the REIT's website at
www.mintoapartmentreit.com/about/environmental-social-and-governance.
About Minto Apartment Real Estate Investment Trust
Minto Apartment Real Estate Investment Trust is an
unincorporated, open-ended real estate investment trust established
pursuant to a declaration of trust under the laws of the Province
of Ontario to own, develop and
operate income-producing multi-residential properties located in
urban markets in Canada. The REIT
owns a portfolio of high-quality income-producing multi-residential
rental properties located in Toronto, Montreal, Ottawa and Calgary. For more information on Minto
Apartment REIT, please visit the REIT's website at:
www.mintoapartmentreit.com.
Forward-Looking Information
This news release may contain forward-looking information within
the meaning of applicable securities legislation, which reflects
the REIT's current expectations regarding future events and in some
cases can be identified by such terms as "will" and "expected".
Forward-looking information is based on a number of assumptions and
is subject to a number of risks and uncertainties, many of which
are beyond the REIT's control that could cause actual results and
events to differ materially from those that are disclosed in or
implied by such forward-looking information. These risks and
uncertainties are more fully described in regulatory filings that
can be obtained on SEDAR+ at www.sedarplus.com.
SOURCE Minto Apartment Real Estate Investment Trust
