GID Announces 2023 Annual Responsible Investment Report

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Aug 29, 2024, 16:22 ET

-- Highlights Include Improved Data Collection Metrics that Support Resilient Assets and Communities --

ATLANTA, Aug. 29, 2024 /PRNewswire/ -- GID, the US-based real estate investment management firm with over $29 billion in assets under management, has announced that it has released its 2023 Responsible Investment Report. The publication provides an in-depth analysis of GID's responsible investment program and presents performance metrics related to its sustainability efforts.

"We are delighted to share our most recent Responsible Investment Report, highlighting our accomplishments that deliver sustainable outcomes for our people and our properties," says Philip Carmody, Senior Vice President and Head of ESG at GID. "GID's early and consistent investment in its sustainability criteria has strengthened the connections with the communities where we operate and laid a strong foundation for continued transparent reporting and governance for the benefit of all our stakeholders. This report illustrates who we are as a company, reflecting our values and our mission to enhance communities where we invest, live, and operate."

In 2023, GID took significant strides toward its goal of complete data coverage for energy, emissions, waste, and water consumption at each asset in its portfolio. By implementing a variety of proptech tools, GID has maintained 100% water data coverage and increased coverage for energy, emissions, and water by 93% or greater within two of its multifamily investment vehicles. Additionally, GID has increased data collection among its industrial assets, improving data coverage for electricity to 55% of the portfolio, an 83% increase over the prior year through increased collaboration with tenants and cooperation from local utility providers. These practices have been critical to helping GID reduce its overall consumption, a crucial component of its sustainability initiatives.

The report includes other key highlights that showcase a year of substantial progress toward GID's sustainability objectives, including:

Named ENERGY STAR^® Partner of the Year by the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy (DOE)¹
Awarded Green Lease Leaders Gold Award for Industrial Division²
Earned 5 Stars in the GRESB Real Estate Assessment for one investment vehicle for the fifth consecutive year; a second investment vehicle earned 4 Stars^3,4
Honored with 2024 LEAP Sustainable Fund Award by Healthcare of Ontario Pension Plan ("HOOPP")⁵
Completed the Pavona Solar Project, a rooftop solar system which generates 180,000 kWh of energy – enough to power 25 homes and saving over 125 metric tons of carbon emissions every year
Continued to support communities through GIVE, the company's community engagement program, with 900 associates participating in 25 Day of Service events across the country, raising nearly $14,000 and donating 200 teddy bears to the Ronald McDonald House Charities, and raising $7,000 for the OneTeamGIVES Fund
Onboarded one additional investment vehicle into its sustainability program

To view the complete 2023 Annual Responsible Investment Report, visit https://esg.gid.com/

About GID:
GID is a privately held, vertically integrated real estate company that owns, operates, and/or manages a portfolio of multifamily and industrial assets, and develops mixed-use projects across the United States. The company also operates a credit platform that aims to provide commercial real estate debt solutions for institutional borrowers. With corporate offices in Atlanta, Boston, Dallas, Dubai, New York and San Francisco, GID is an experienced real estate private equity investor and manager supported by an integrated operating platform and has 60+ years of experience across multiple asset classes.

¹ GID does not pay a fee to Energy Star, which is a program administered by the U.S. Environmental Protection Agency. Energy Star Partner of the Year award achieved in 2024. https://www.energystar.gov/buildings?s=mega² GID does not pay a fee to Green Lease Leaders, which is administered by the Institute for Market Transformation and the U.S. Department of Energy. Green Lease Leaders award was achieved for Multifamily in 2022 and Industrial in 2024, and each award is valid for a 3-year period. https://www.greenleaseleaders.com/
³ GID pays a fee to submit individual investment vehicles to GRESB. Annual rankings are shown in ascending order ending in 2023. Details on the real estate assessment and scoring can be found here:
https://www.gresb.com/nl-en/real-estate-assessment/
⁴ GRESB rankings include a peer group in 2023 of 40, 40, and 6 for the $14B and $3.5B Portfolio, and $3.3B Open-End Vehicle, respectively.
⁵GID does not pay a fee for HOOPP's LEAP Sustainability Awards, the award is only open to partners of HOOPP. The Sustainable Fund award was earned in 2024 and is valid for one year.
https://hoopp.com/investments/sustainable-investing