Equity Residential Issues 2023 ESG Report

Rhea-AI Summary

Equity Residential publishes its 2023 ESG Report, highlighting its commitment to ESG principles and achievements in environmental, social, and governance areas.

Positive

• Equity Residential sets ambitious greenhouse gas emissions targets under the Science Based Targets framework.
• Equity Residential named one of Barron's 10 Most Sustainable U.S. REITs in 2022.
• Equity Residential receives a 4-Star Rating from GRESB.
• Equity Residential's employees contribute over 3,600 community service hours to non-profit projects.
• Equity Residential invests an additional $5 million in affordable housing units, bringing the total to $10 million.
• 44% of Equity Residential's Board of Trustees are Women and People of Color.
• Equity Residential recognized as one of America's Most Responsible Companies by Newsweek Magazine for 2023.

Negative

• None.

CHICAGO--(BUSINESS WIRE)-- Equity Residential (NYSE: EQR), a recognized leader in Environmental, Social and Governance (ESG) principles, today announced the publication of its 2023 ESG Report. The report describes the Company’s commitment to ESG principles and values as well as its goals and achievements in these areas.

“We are pleased to publish our tenth annual ESG report and share with our stakeholders the continued progress that we have made on these important topics,” said Mark J. Parrell, Equity Residential’s President and CEO. “We believe that integrating ESG into our corporate strategy drives long-term value creation for our shareholders, residents, employees and communities and are proud to have been recognized for our achievements.”

Highlights in this year’s report:

Environmental:

• The Company has established ambitious new greenhouse gas emissions targets under the Science Based Targets framework.

• The Company was named as one of Barron’s 10 Most Sustainable U.S. REITs in 2022.

• The Company is 4-Star Rated by GRESB.

Social:

• The Company’s employees dedicated more than 3,600 community service hours to projects at 50 different non-profits in the Company’s markets.

• The Company invested an additional $5 million, bringing the total to $10 million, in investment funds that acquire and preserve affordable housing units across the country.

Governance:

• Women and People of Color represent 44% of the Company’s Board of Trustees.

• The Company was recognized as one of America’s Most Responsible Companies by Newsweek Magazine for 2023.

About Equity Residential

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, D.C., Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft. Worth and Austin. For more information on Equity Residential, please visit our website at www.equityapartments.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231024750307/en/

Marty McKenna (312) 928-1901

Source: Equity Residential

FAQ

What is Equity Residential's 2023 ESG Report about?

Equity Residential's 2023 ESG Report highlights the company's commitment to ESG principles and its achievements in environmental, social, and governance areas.

What targets has Equity Residential set for greenhouse gas emissions?

Equity Residential has set ambitious greenhouse gas emissions targets under the Science Based Targets framework.

What recognition did Equity Residential receive for its sustainability efforts?

Equity Residential was named one of Barron's 10 Most Sustainable U.S. REITs in 2022 and received a 4-Star Rating from GRESB.

How much did Equity Residential invest in affordable housing units?

Equity Residential invested an additional $5 million, bringing the total to $10 million, in investment funds that acquire and preserve affordable housing units.

What percentage of Equity Residential's Board of Trustees are Women and People of Color?

44% of Equity Residential's Board of Trustees are Women and People of Color.

What recognition did Equity Residential receive as a responsible company?

Equity Residential was recognized as one of America's Most Responsible Companies by Newsweek Magazine for 2023.