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JBG SMITH Releases 2022 Environmental, Social and Governance Report
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JBG SMITH (NYSE: JBGS) has released its 2021 Environmental, Social, and Governance (ESG) Report, showcasing significant sustainability milestones. The company achieved carbon neutrality for scope 1 and 2 emissions and received multiple accolades, including the Nareit’s 2021 Diversified Leader in the Light award. Financially, JBG SMITH invested $34 million in workforce housing and established a $1 million rent relief fund. The report emphasizes improved governance with a more gender-balanced Board of Trustees and ongoing alignment with major sustainability frameworks, marking a commitment to long-term sustainability and shareholder value.
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Achieved carbon neutrality for scope 1 and 2 emissions, enhancing competitive advantage.
Invested $34 million in preserving workforce housing units, supporting community needs.
Received multiple industry awards, including Nareit's Diversified Leader in the Light.
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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, today released its annual Environmental, Social, and Governance (ESG) Report, highlighting accomplishments achieved across its portfolio in 2021.
Notable achievements and metrics in the report include:
Environmental
Achieved carbon neutrality across the operating portfolio for scope 1 and 2 emissions associated with on-site energy consumption
5-Star rated GRESB Sector Leader in Diversified Office Residential for existing portfolio and development pipeline
Received Nareit’s 2021 Diversified Leader in the Light award
Social
Deployed $34 million in financing to preserve approximately 459 workforce housing units, across two properties: Hamilton Manor and Huntwood Courts
Facilitated a $1 million rent relief fund to support tenants at Washington Housing Initiative properties
Completed the first phase of a new social impact platform to develop inclusive property management strategies
Governance
Strengthened the gender balance composition of JBG SMITH’s 11-member Board of Trustees to include four women, including a person of color
Included cybersecurity into the strategic approach overseen by the audit committee of our board of trustees
Continued to align JBG SMITH’s ESG reporting to the Sustainable Accounting Standard Board (SASB) and the Task Force on Climate-Related Disclosures (TCFD)
In September 2021, JBG SMITH reached a significant milestone in its overall sustainability journey by announcing carbon neutrality across its operating portfolio – a goal it intends to maintain in perpetuity, reducing its environmental footprint while also supporting the development of renewable energy technologies.
“Achieving carbon neutral operations provides JBG SMITH a strong competitive advantage in the real estate industry due to heightened expectations from our customers and investors,” said Kimberly Pexton, Vice President of Sustainability at JBG SMITH. “We fully understand that our actions over the next decade are critical in averting the current carbon emission trajectory, and we are doing everything we can to positively impact the communities we serve at every level. This year’s ESG report outlines the milestones we have reached and presents the next steps we are taking toward creating an even more sustainable company.”
In addition to JBG SMITH’s strides in sustainability, the company continues to prioritize social value through its investments in workforce housing through the Washington Housing Initiative Impact Pool, intentional retail leasing strategies, community support through the Covid-19 pandemic, and the protection and expansion of green spaces.
JBG SMITH's Board of Trustees remains focused on enhancing shareholder value, including aligning ESG priorities with long-term business plans. ESG strategy, climate change risks, and performance data are woven throughout its public disclosure documents and investor communications. This year's report continues to incorporate key performance indicators with the frameworks that support JBG SMITH’s impact on climate change – United Nations Sustainable Development Goals (UN SDG's) and Global Reporting Initiative (GRI). In addition, the company’s Annual Report included important financial and non-financial disclosures as recommended by SASB and TCFD. JBG SMITH's ESG Report provides specific data as defined by these organizations, including critical performance information regarding the impacts of climate change on its business.
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 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 17.4 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 16.6 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. For more information on JBG SMITH please visit www.jbgsmith.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” or the “Company”) 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”, “would”, “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 any future investments. Many of the factors that will determine the outcome of these and our other forward-looking statements, entitlements, 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.
