Award Acknowledges Companies That Demonstrate Superior and Sustained ESG Practices
ARLINGTON, Va., November 17, 2022--(BUSINESS WIRE)--AVALONBAY COMMUNITIES, INC. (NYSE: AVB) (the "Company") announced today that it was named the 2022 Leader in the Light Award recipient for the residential sector for the seventh time by the National Association of Real Estate Investment Trusts (Nareit). The Company also received the award in 2021, 2020, 2019, 2015, 2013 and 2012.
Nareit's annual Leader in the Light Awards honor Nareit member companies that have demonstrated superior and sustained environmental, social and governance (ESG) practices. Now in their 17th year, the 2022 Leader in the Light Awards were presented to REITs in eight property sectors during Nareit’s REITworld: 2022 Annual Conference.
"At AvalonBay we understand and are driven by a strong belief that our actions, both big and small, contribute to creating a better way to live – for all people, the places where we live and work, and the planet at large, "said Benjamin Schall, CEO of AvalonBay. "We are honored to be recognized by Nareit for our ESG efforts and the industry-leading impact that we are making."
The 2022 Leader in the Light Awards are based on the results of the Global Real Estate Sustainability Benchmark (GRESB) Annual Survey, as well as scored responses to supplemental questions by an interdisciplinary panel of judges. Earlier this year, the Company was also named the top-performing multifamily company among its peers as both a Global and a Regional Sector Leader by GRESB in its 2022 Real Estate Assessment. AvalonBay also earned a 5-Star Rating, the highest achievement level recognized by GRESB.
"The advancement of sustainability in all of its facets, including environmental stewardship, social responsibility, and good governance is a core component of the REIT and publicly traded real estate industry and is increasingly vital to communities and investors," said Nareit President and CEO Steven A. Wechsler. "We applaud our members’ continued commitment to navigating their business strategies and practices through a sustainability lens.
About AvalonBay Communities, Inc.
As of September 30, 2022, the Company owned or held a direct or indirect ownership interest in 293 apartment communities containing 88,405 apartment homes in 12 states and the District of Columbia, of which 18 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.
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AvalonBay Communities, Inc.