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TORONTO, May 18, 2021 /CNW/ - Tricon Residential Inc.
("Tricon" or the "Company") (TSX: TCN), an owner and operator of
single-family rental homes and multi-family rental apartments in
the United States and Canada, has released its inaugural ESG report,
which highlights how the Company is redefining sustainable rental
housing and positively impacting its employees, residents and
communities. The report is available on Tricon's website at
https://triconresidential.com/investors/reports-filings/.
The 2020 ESG report showcases Tricon's accomplishments
throughout the year across five key priority areas introduced in
its 2020 ESG Roadmap: Our People, Our Residents, Our Innovation,
Our Impact and Our Governance.
"I am delighted to release our first annual ESG report, which
highlights many of the sustainability initiatives our team has been
working on for the past year and is a major step towards
formalizing our ESG disclosure," said Gary
Berman, President and CEO of Tricon Residential. "ESG is
ingrained in how we operate our business and is closely linked to
our purpose statement – Imagine a world where housing unlocks
life's potential. By focusing on our employees, residents and
innovation, we have been able to make a positive impact during a
year filled with hardship and uncertainty amid the COVID-19
pandemic. I want to thank our team for their contribution to our
2020 accomplishments, and I look forward to delivering on a promise
of continuous improvement in our sustainability efforts."
Tricon's reported key accomplishments in 2020 include:
Our People
- Certified as Glassdoor's Great Place to Work®, Tricon achieved
a combined 81% employee satisfaction score in both the U.S. and
Canada.
- Established a minimum "living wage" base salary of $36,400 in the U.S. and C$46,000 in Canada.
- Championed diversity, inclusion and belonging by contributing
to Black Girls CODE, signing the BlackNorth Initiative CEO Pledge,
and holding 25% female representation on the senior management
team.
Our Residents
- Implemented a comprehensive suite of customer lifecycle surveys
to provide team members with actionable insights so that they can
continuously improve and elevate the resident experience.
- Through the Giving Back Fund and Resident Emergency Assistance
Fund, Tricon contributed more than $190,000 to local organizations that assist
residents in times of need.
- Introduced programs to help ease the financial hardship faced
by residents impacted by COVID-19, including limiting rent
increases on renewals and offering flexible payment plans.
Our Innovation
- Provided safety and convenience to residents by rolling out
Smart Home technology across one-third of Tricon's single-family
rental home portfolio.
- Enhanced operations by investing in Intelligent Virtual Agent
technology and continuing to innovate within Tricon's
technology-enabled operating platform.
- Partnered with the government of Ontario to deliver innovative solutions for
housing affordability in downtown Toronto, with 27% of units (684 units) at the
West Don Lands development designated as affordable.
Our Impact
- Integrated flood risk assessments into Tricon's proprietary
single-family rental home acquisition platform to reduce risk and
expedite the acquisition process.
- Adopted fleet optimization technology to help reduce emissions
and increase the service effectiveness of Tricon's 174-vehicle
service fleet.
- Collaborated with key vendor partners to source
energy-efficient appliances and sustainable products, and
standardized products to reduce waste across Tricon's portfolio of
single-family rental homes.
- Tricon's first purpose-built rental development, The
Selby, in Toronto, was awarded LEED (Leadership in
Energy and Environmental Design) Gold Certification.
Our Governance
- The Board of Directors met the gender diversity standards set
by the 30% Club Canada.
- Updated and socialized multiple governance policies and
programs, including the Compliance Manual, Whistleblower program
and key information technology policies, exemplifying
enterprise-wide commitment to ethics, integrity, trust and
transparency.
- Implemented and activated the Business Continuity Plan as
Tricon employees moved to a work-from-home environment in response
to COVID-19.
Additional details about Tricon's ESG goals and progress can be
found in the dedicated Sustainability section of Tricon's website
at:
https://triconresidential.com/investors/sustainability.
About Tricon Residential Inc.
Tricon Residential is an owner and operator of a growing
portfolio of over 31,000 single-family rental homes and
multi-family rental apartments in the
United States and Canada
with a primary focus on the U.S. Sun Belt. Our commitment to
enriching the lives of our residents and local communities
underpins Tricon's culture and business philosophy. We strive to
continuously improve the resident experience through our
technology-enabled operating platform and innovative approach to
rental housing. At Tricon Residential, we imagine a world where
housing unlocks life's potential. For more information visit
www.triconresidential.com.
SOURCE Tricon Residential Inc.