Veris Residential COO Anna Malhari Named to New Jersey Governor's Clean Buildings Working Group as REIT Earns 2022 GRESB 5 Star Rating

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Veris Residential (NYSE: VRE) announced that COO Anna Malhari joined New Jersey Governor Phil Murphy's Clean Buildings Working Group, aimed at reducing emissions by 80% by 2050. The group will promote energy efficiency and greener buildings. Veris Residential also achieved a 5 Star rating from the 2022 Global Real Estate Sustainability Benchmark (GRESB), ranking in the top 20% of participants. The company received a score of 88, significantly higher than the average of 74, reflecting its commitment to sustainability and ESG initiatives.

Positive

• 5 Star rating from GRESB for outstanding ESG leadership.
• Achieved a score of 88, well above the GRESB average of 74.
• Joined New Jersey's Clean Buildings Working Group to further sustainability initiatives.

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• None.

Achievements Demonstrate Veris Residential's Ongoing Commitment to Advancing ESG at Both the Local and Global Level

JERSEY CITY, N.J., Oct. 25, 2022 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE), a forward-thinking, environmentally- and socially-conscious REIT that primarily owns, operates, acquires, and develops Class A multifamily properties, today announced that Chief Operating Officer Anna Malhari has joined New Jersey Governor Phil Murphy's Clean Buildings Working Group ("Working Group"). The Working Group is a collaboration between the Governor's Office of Climate Action and the Green Economy (OCAGE) and the New Jersey Board of Public Utilities (BPU).

The Working Group supports Governor Murphy's climate action agenda, which has set goals of achieving a 100% clean energy state economy and reducing emissions by 80% (from 2006 levels) by 2050. As a member of the Working Group, Malhari will work with other local business leaders and experts across government, building science, organized labor, environmental justice, and workforce development, including the Department of Environmental Protection, Department of Community Affairs, Economic Development Authority, and Department of the Treasury, to help the state reach its stated goals. Specifically, the Working Group will develop pathways to greener, cleaner buildings in New Jersey through the adoption of energy efficiency improvements and emissions reduction upgrades.

"As a proud resident of New Jersey, it is an honor to join Governor Murphy's Clean Buildings Working Group alongside likeminded New Jersey leaders that share our goal of decarbonizing the built sector," said Malhari. "At Veris Residential, sustainability is a lens through which we view every decision, every day at both the corporate and property level. I look forward to widening that lens and working with existing members of the Working Group to implement innovative solutions that not only help New Jersey reach emissions reduction and clean energy targets, but also promote a more resilient world."

Malhari's appointment to the Working Group comes as Veris Residential earns a 5 Star rating for its performance in the 2022 Global Real Estate Sustainability Benchmark (GRESB), which is the highest rating offered by GRESB for distinguished Environmental, Social and Governance (ESG) leadership and performance. The GRESB 5 Star rating recognized Veris Residential for achieving a score among the highest 20% of all 1,820 participant companies' scores in the 2022 Real Estate Assessment worldwide. Specifically, Veris Residential was awarded Green Star status and a survey score of 88, well above the 2022 GRESB average score of 74, receiving all points possible within the Management Category. The Company also received a GRESB Public Disclosure rating of "A" and a score of 97, ranking first among its comparison group in the United States. In determining a company's rating, GRESB examines strategy and leadership, policies and procedures, risk management, stakeholder engagement approach, asset portfolio performance, and efforts to address ESG issues during a building's design, construction, and renovation phases. 2022 was the first year Veris Residential participated in the GRESB assessment.

"Our 5 Star rating from GRESB, the global ESG benchmark for real estate and infrastructure investments, reflects Veris Residential's commitment to sustainable operations, diversity and continued advancement of our ESG actions in support of the well-being of our residents, employees, suppliers and the communities we serve," said Karen Cusmano, Senior Vice President and Head of Sustainability and ESG, who oversees Veris Residential's dedicated ESG program, Embrace by Veris Residential. "While we recognize the significant impact the built sector has on global carbon emissions and are dedicated to taking steps to mitigate our footprint, we also recognize that we cannot take on this challenge alone. As such, we are pleased to be part of the Governor's Working Group and share our proven sustainability strategies to help drive the adoption of energy efficiency improvements across the state."

About Veris Residential, Inc.

Veris Residential, Inc. is a forward-thinking, environmentally- and socially-conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically-inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today's residents while seeking to positively impact the communities it serves and the planet at large. The company is guided by an experienced management team and Board of Directors and is underpinned by leading corporate governance principles, a best-in-class and sustainable approach to operations, and an inclusive culture based on equality and meritocratic empowerment. For additional information on Veris Residential, Inc. and our properties available for lease, please visit https://verisresidential.com. 

Media
Amanda Shpiner/Grace Cartwright
Gasthalter & Co.
212-257-4170
veris-residential@gasthalter.com

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SOURCE Veris Residential, Inc.

FAQ

What is the significance of Veris Residential's 5 Star rating from GRESB?

Veris Residential's 5 Star rating from GRESB signifies exceptional performance in environmental, social, and governance (ESG) practices, placing it in the top 20% of 1,820 global participants.

Who is Anna Malhari and what role does she play in Veris Residential?

Anna Malhari is the Chief Operating Officer of Veris Residential and has been appointed to the New Jersey Governor's Clean Buildings Working Group to advance sustainability goals.

How does Veris Residential plan to contribute to New Jersey's clean energy goals?

Veris Residential aims to support New Jersey's clean energy goals through initiatives focused on energy efficiency and emissions reduction as part of the Governor's Clean Buildings Working Group.

What is the target emissions reduction set by New Jersey for 2050?

New Jersey aims to reduce emissions by 80% from 2006 levels by the year 2050.