LXP Industrial Trust Publishes 2021 Corporate Responsibility Report

Rhea-AI Summary

LXP Industrial Trust announced the publication of its 2021 Corporate Responsibility Report, highlighting its commitment to enhanced environmental, social, governance, and resilience (ESG+R) initiatives. The report aligns with key sustainability frameworks and showcases LXP’s accomplishments, including receiving an above-average score from GRESB and obtaining over 1.3 million square feet of green building certifications. Additionally, LXP executed 14 green leases and achieved a tenant satisfaction score of 4.11 out of 5, exceeding industry benchmarks.

Positive

• Achieved an 'A' score for public disclosure from GRESB, above global average.
• Obtained over 1.3 million square feet in green building certifications.
• Installed or committed to install LED lighting for approximately eight million square feet.
• Executed 14 green leases in the portfolio.
• Received a tenant satisfaction score of 4.11, exceeding the Kingsley Index benchmark.
• Joined CREW Network CRE Pledge for Action promoting women in real estate.
• Formed a female mentorship program within LXP.
• Added to the 2022 Bloomberg Gender-Equality Index.
• Recognized among the 'Best Companies to Work for' in New York.
• Appointed two new board members, refreshing the Board of Trustees.

Negative

• Richard Frary, Independent Lead Trustee, will not stand for reelection in 2023.

Continuing to Build Best-In-Class ESG+R Platform

NEW YORK, Oct. 25, 2022 (GLOBE NEWSWIRE) -- LXP Industrial Trust (NYSE:LXP) (“LXP”), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today announced that it published its 2021 Corporate Responsibility (“CR”) Report. The report focuses on LXP’s enhanced environmental, social, governance, and resilience (“ESG+R”) program for the 2021 calendar year. Further, the report aligns with multiple sustainability frameworks, including Global Reporting Initiative (GRI), the Task Force on Climate-Related Financial Disclosures (TCFD), Sustainability Accounting Standards Board (SASB) and the United Nations Sustainable Development Goals.

T. Wilson Eglin, Chairman and Chief Executive Officer of LXP, commented, “We are excited to release our second Corporate Responsibility Report, which features robust commentary and case studies on our sustainability accomplishments, strategies, initiatives and policies, as well as ESG+R performance across our portfolio. Our forward-thinking approach has allowed us to continue building a best-in-class ESG+R platform, in which we’ve made enhancements along the way to support our key stakeholders. We remain committed to sustainable practices at LXP and will continue to align with superior reporting standards and expand our program based on the needs of our stakeholders.”

LXP’s Corporate Responsibility Report can be found on LXP’s website at https://www.lxp.com/corporate-responsibility/.

In addition to publishing its 2021 CR Report, LXP has accomplished the following ESG-related initiatives year-to-date in 2022:

• Received an above global average score of “A” for public disclosure reporting from the GRESB^® Real Estate Assessment and increased overall score compared to previous year
  
  
• Obtained over 1.3 million square feet in green building certifications in consolidated industrial portfolio, with additional square footage to be achieved by year-end
  
  
• Installed or committed to install LED lighting for approximately eight million square feet
  
  
• Executed 14 green leases in consolidated industrial portfolio
  
  
• Received a tenant satisfaction score of 4.11 out of 5 for the industrial portfolio, which exceeds the Kingsley Index benchmark for LXP’s peer group
  
  
• Joined the CREW Network CRE Pledge for Action, reinforcing commitment to promote women in the real estate industry
  
  
• Formed a female mentorship program to foster senior management sponsorship of other women within LXP
  
  
• Added to the 2022 Bloomberg Gender-Equality Index
  
  
• Recognized as a 2022 “Best Companies to Work for” in New York
  
  
• Appointed two new board members to the Board of Trustees, resulting in a Board refreshment of seven independent trustees since 2015
  

As previously disclosed, Richard Frary, LXP’s Independent Lead Trustee, will not stand for reelection at LXP’s 2023 Annual Meeting of Shareholders.  The LXP Nominating Committee recently adopted a resolution to recommend Jamie Handwerker as the next Lead Trustee following her reelection at LXP’s 2023 Annual Meeting of Shareholders. 

ABOUT LXP INDUSTRIAL TRUST

LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant warehouse and distribution investments across the United States. LXP seeks to expand its portfolio through acquisitions, development projects, and build-to-suit and sale/leaseback transactions. For more information or to follow LXP on social media, visit www.lxp.com.

Contact:
Investor or Media Inquiries for LXP Industrial Trust:
Heather Gentry, Senior Vice President, Investor Relations
LXP Industrial Trust         
Phone: (212) 692-7200 E-mail: hgentry@lxp.com

FAQ

What is the focus of LXP Industrial Trust's 2021 Corporate Responsibility Report?

The report emphasizes LXP's enhanced ESG+R program and aligns with various sustainability frameworks.

What sustainability initiatives has LXP executed in 2022?

LXP executed 14 green leases and obtained over 1.3 million square feet in green building certifications.

How did LXP perform in the GRESB assessment?

LXP received an 'A' score, above the global average, indicating strong public disclosure.

What was LXP's tenant satisfaction score?

LXP achieved a tenant satisfaction score of 4.11 out of 5, surpassing industry benchmarks.

Who will replace Richard Frary as Independent Lead Trustee?

Jamie Handwerker is recommended as the next Lead Trustee following Frary's non-reelection.