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JBG SMITH Releases 2023 Environmental, Social and Governance Report
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Rhea-AI Summary
JBG SMITH, a leading owner and developer of mixed-use properties in Washington, DC, released its annual ESG Report for 2022, showcasing significant achievements in sustainability, social initiatives, and governance practices.
Key Highlights:
Maintained carbon neutrality for Scope 1 and 2 emissions.
Recognized as a 5-Star GRESB Sector Leader in Diversified Office/Residential.
Provided over $65 million to preserve 2,565 housing units.
Awarded “Best ESG Investment Fund: Real Estate” by ESG Investing.
Established an ESG Committee for climate risk management.
The company's ongoing commitment to carbon neutrality and social value investment reflects its strategy to align ESG priorities with long-term business goals.
Positive
Maintained carbon neutrality for Scope 1 and 2 emissions, showcasing sustainability commitment.
Recognized as a 5-Star GRESB Sector Leader, indicating strong performance in ESG metrics.
Provided over $65 million to preserve 2,565 housing units, highlighting social commitment.
Awarded 'Best ESG Investment Fund: Real Estate,' enhancing the company's reputation.
Established an ESG Committee to manage climate change risks effectively.
Negative
None.
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 the accomplishments achieved across its operating portfolio in 2022.
Notable achievements and metrics in the report include:
Environmental
Maintained carbon neutrality across the operating portfolio for Scope 1 and 2 emissions
5-Star rated and top performing GRESB Sector Leader in Diversified Office/Residential for its operating portfolio and Development Pipeline
Recognized as an ENERGYSTAR Certification National recipient
Social
Provided more than $65 million in financing to preserve approximately 2,565 units through the Washington Housing Initiative (WHI) Impact Pool
Awarded “Best ESG Investment Fund: Real Estate” by ESG Investing
Recognized in the Bloomberg Gender-Equality Index
Governance
Established cross-functional ESG Committee to advise the Board on ESG oversight and climate change risk management
Maintained the gender balance composition of JBG SMITH’s Board of Trustees to include four women, one of whom identifies as African American
Updated organizational mission and core values
Continued to align JBG SMITH’s ESG reporting to the Sustainable Accounting Standard Board (SASB) and the Task Force on Climate-Related Disclosures (TCFD)
“An orderly transition to a low-carbon future must be grounded in transparency, communication of progress, and challenge triage,” said Kimberly Pexton, Senior Vice President of Sustainability at JBG SMITH. “In order to remain competitive and on track to reach our 2030 goals, we are staying ahead of emerging technologies and considering how we will leverage them to enhance our efforts and achieve carbon emission reductions at-scale, all while continuing to use the ample technology available to us today.”
In addition to JBG SMITH’s strides in sustainability, the company continues to prioritize social value by investing in workforce housing through the WHI Impact Pool, leasing retail spaces with strategic intent, and protecting and expanding green spaces.
JBG SMITH's Board of Trustees remains focused on enhancing shareholder value, including aligning ESG priorities with long-term business plans. As such, ESG strategy, climate change risks, and performance data are woven throughout the company’s 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 on Form 10-K 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 mixed-use properties in 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. Approximately two-thirds of JBG SMITH's holdings are in the National Landing submarket in Northern Virginia, which is anchored by four key demand drivers: Amazon's new headquarters, which is being developed by JBG SMITH; Virginia Tech's under-construction $1 billion Innovation Campus; the submarket’s proximity to the Pentagon; and JBG SMITH’s deployment of next-generation public and private 5G digital infrastructure. JBG SMITH's dynamic portfolio currently comprises 15.3 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 9.7 million square feet of mixed-use development opportunities. JBG SMITH’s capital allocation strategy is to shift the majority of its portfolio to multifamily and concentrate its office assets in National Landing. 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, 2022 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.
Samantha Schmieder JBG SMITH
Corporate Communications Manager
(240) 333-7706
sschmieder@jbgsmith.com
Source: JBG SMITH
FAQ
What are the key achievements of JBG SMITH in their 2022 ESG Report?
In 2022, JBG SMITH maintained carbon neutrality for Scope 1 and 2 emissions, provided over $65 million to preserve 2,565 housing units, and was recognized as a 5-Star GRESB Sector Leader.
How much funding did JBG SMITH allocate to housing preservation?
JBG SMITH provided more than $65 million in financing to preserve approximately 2,565 housing units through the Washington Housing Initiative.
What awards did JBG SMITH receive for its ESG efforts?
JBG SMITH was awarded 'Best ESG Investment Fund: Real Estate' by ESG Investing for its notable ESG achievements.
What is JBG SMITH's approach to climate change?
JBG SMITH established an ESG Committee focused on climate change risk management, showing its commitment to sustainability.
How does JBG SMITH align its ESG priorities with business goals?
JBG SMITH incorporates ESG strategies into its public disclosures and investor communications, aligning them with long-term business plans.
