Commercial, Energy Efficiency, GHG Emissions - May 16, 2024
W.P. Carey Publishes Emissions Data
W.P. Carey, a net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, published like-for-like Scope 1 and 2 emissions data for the first time.
The company also increased enrollment of tenants in electricity usage data reporting to more than 50% as a percentage of both annualized base rent and square footage and achieved Green Lease Leader Gold level recognition for the third consecutive year.
In 2023, W. P. Carey executed 45 green leases totaling 13.8 million square feet of assets, and approximately 82% of the company's 2023 investment volume comprised leases with green lease provisions.
The company communicated ESG objectives via W. P. Carey's ESG Policy Statement, formalizing the company's commitment to responsible business practices in the areas of environmental stewardship, social responsibility and governance.
Details were released in its 2023 Environmental, Social and Governance (ESG) Report that was prepared in reference to disclosure standards established by the Task Force on Climate-Related Financial Disclosures (TCFD) and Global Reporting Initiative (GRI).
"Thanks to our team's dedication and cross-departmental collaboration, we made significant progress on many of our ESG goals during 2023, while also advancing both the scope and transparency of our strategy,” said Jason Fox, Chief Executive Officer of W. P. Carey, in a statement. “Driven by our longstanding commitment to Doing Good While Doing Well, we see corporate responsibility as a core component of our business and continue to identify and pursue opportunities that have a meaningful impact."
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