Rexford Industrial Releases Environmental, Social and Governance Impact Report
Rexford Industrial Realty (NYSE: REXR), a REIT specializing in industrial properties in Southern California, has released its annual Environmental, Social, and Governance Impact (ESGi) report. The report emphasizes Rexford's achievements in 2023, including preventing 40,456 tons of carbon emissions, generating $1.4 billion in societal impact, and maintaining strong governance practices. Key milestones include committing to net zero greenhouse gas emissions by 2045, achieving LEED certifications for projects, and expanding solar energy installations. Rexford also earned several accolades in green leasing and community engagement, including the Gold Green Lease Leader designation and over 3,034 volunteer hours.
- Prevented 40,456 tons of carbon emissions in 2023.
- Generated $1.4 billion in positive societal impact.
- Committed to net zero greenhouse gas emissions by 2045.
- Earned LEED Gold and LEED Certified for redevelopment projects.
- Planned 7 million square feet of LEED Certified projects over the next 5 years.
- Committed to 60 MW of rooftop solar by 2028, with 17 MW already installed or committed.
- Earned Gold Green Lease Leader twice and Platinum Green Lease Leader in 2024.
- Completed an average of 20 training hours per employee.
- No detailed financial performance data was provided in the report.
- Future targets such as net zero emissions by 2045 and 60 MW of solar installations by 2028 may face implementation challenges.
- ESGimpact (ESGi) represents a holistic approach quantifying the positive environmental, societal and governance impacts enabled by Rexford Industrial's differentiated, value-driven business model
"Rexford's ESGi strategy creates positive impacts by revitalizing dysfunctional industrial buildings throughout infill
In 2023, Rexford Industrial generated significant value through the Company's ESGi approach, including:
- Environmental Value by preventing 40,456 tons of carbon emissions through a focus on recycling dysfunctional infill buildings, implementing green building strategies and collaborating with tenants to drive sustainable operations
- Societal Value by generating approximately
$1.4 billion - Governance Value by upholding robust governance policies and practices, providing a foundation of transparency and accountability that enables long-term value creation
Rexford Industrial's 2023 ESGi selected milestones and goals include:
- Announced SBTi-validated emissions reduction targets and committed to net zero greenhouse gas emissions by 2045
- Earned first LEED Gold redevelopment and first LEED Certified repositioning, with approximately 7 million square feet of projects targeting LEED Certified, or higher, over the next five years
- Committed 8.2 megawatts (MW) of additional rooftop solar, bringing total installed or committed solar to over 17 MW, with a target of 60 MW by 2028
- Earned Gold Green Lease Leader designation for the second consecutive year and awarded Platinum Green Lease Leader in April 2024
- Partnered with over 25 charities actively supported by the Rexford Industrial team's 3,034 hours volunteered within the community
- Launched RexSocials, employee-formed resource groups centered around shared interests, and RexConnex, an interactive peer-recognition platform, driving engagement and productivity within a hybrid and flexible work structure
- Completed an average of 20 training hours per employee through dedicated Department of Professional Excellence
In 2024 and beyond, Rexford Industrial will continue to catalyze opportunities to create near- and long-term value through the Company's holistic ESGi approach, driving stakeholder satisfaction and advancing Environmental, Societal and Governance Value.
The full report can be found under the ESG section of the Company's website at https://www.rexfordindustrial.com/ESG.
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of risks and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the
Contact:
Investorrelations@rexfordindustrial.com
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SOURCE Rexford Industrial Realty, Inc.
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