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JBG Smith Earns Top ESG Rating Earning 5-Stars, Named Global Sector Leader by GRESB In 2022
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BETHESDA, Md.--(BUSINESS WIRE)--
JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, achieved a five-star rating from GRESB® in the 2022 Real Estate Assessment for both its operating portfolio and development pipeline.
For the second consecutive year, JBG SMITH has been recognized as a Global Sector Leader in diversified office/residential standing investments as well as a Global Sector Leader Residential and Regional Sector Leader Residential in the development benchmark.
In the standing investments assessment JBG SMITH was ranked first in its sector in the U.S., achieving five stars, the highest rating available in this assessment. In the development assessment, JBG SMITH ranked first in its sector in the U.S. Additionally, JBG SMITH was ranked first in its comparison group for public disclosure level and has received an A score each year since the commencement of reporting in 2018.
The focus for JBG SMITH in the coming years will be on performance achievements across energy, water, waste, and GHG reductions. JBGS ranked first within the performance component against listed peers, highlighting the positive impact by active programs such as energy management, energy and water efficiency projects and composting.
“The achievement of a five-star rating for a third straight year in our standing assets along with a five-star rating in the development assessment for a second year in a row demonstrates tangible results in the execution of our sustainability strategy and consistent industry leadership,” said Matt Kelly, JBG SMITH Chief Executive Officer.
JBG SMITH is continuing to expand its commitment beyond the performance metrics, including heightened focus on strengthening both the social and governance component. The company released a second dedicated Diversity and Inclusion Report in August and recently completed an ESG Investor Roadshow. JBG SMITH participates in the GRESB and S&P Global Corporate Sustainability Assessment annually.
JBG SMITH Sustainability will continue to advance the established roadmap on carbon neutral operations, first announced in 2021, and further work on decarbonization strategies across the existing portfolio and future pipeline.
About JBG SMITH
JBG SMITH owns, operates, invests in and develops a dynamic portfolio of mixed-use properties in the high growth and high barrier-to-entry submarkets in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Washington, DC metropolitan area. Over half of JBG SMITH's holdings are in the National Landing submarket in Northern Virginia, where it serves as the exclusive developer for Amazon's new headquarters, and where Virginia Tech's planned new $1 billion Innovation Campus is located. JBG SMITH's portfolio currently comprises 15.5 million square feet of high-growth office, multifamily and retail assets at share, 98% of which are Metro-served. It also maintains a development pipeline encompassing 9.8 million square feet of mixed-use development opportunities. JBG SMITH is committed to the operation and development of green, smart, and healthy buildings and plans to maintain carbon neutral operations annually.
About GRESB
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by more than 170 institutional and financial investors to inform decision-making. For more information, visit GRESB.com.
Forward-Looking Statements
Certain statements contained herein may constitute "forward-looking statements" as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations, and beliefs and are subject to numerous assumptions, risks and uncertainties. Consequently, the future results of JBG SMITH Properties ("JBG SMITH") may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as "approximate", "believes," "expects," "anticipates," "intends," "plans," "proposed," "would," "should," "may," or similar expressions in this press release. We also note the following forward-looking statements: our intention and plans to maintain carbon neutrality annually and our plans to futureproof our portfolio. Many of the factors that will determine the outcome of these and our other forward-looking statements and plans are beyond our ability to control or predict. These factors include, among others: adverse economic conditions in the Washington, DC metropolitan area, the timing of and costs associated with development and property improvements, financing commitments, and general competitive factors. For further discussion of factors that could materially affect the outcome of our forward-looking statements and other risks and uncertainties, see "Risk Factors" and the Cautionary Statement Concerning Forward-Looking Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and other periodic reports the Company files with the Securities and Exchange Commission. For these statements, we claim the protection of the safe harbor for forward looking statements contained in the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on our forward-looking statements. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements after the date hereof.
