Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") today announced that it has published its inaugural Environmental, Social and Governance (ESG) Report. While ESG values have long been core to the Company’s business practices, this publication provides a comprehensive overview of PAC’s ESG efforts, both for the Company’s core operations and for PAC’s broader real estate portfolio.
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In addition to providing quantitative results for calendar year 2021, PAC’s ESG report provides insights into the Company’s strategic focus and purposeful approaches to corporate responsibility regarding PAC’s own operations and community impact as well as the operations and impacts of the residents and tenants across PAC’s portfolio.
“While we have featured Environmental, Social and Governance information on our website for some time now, we are excited to share our ESG efforts and successes through this formal ESG Report. This is a key focus of our Board and entire team, and we are committed to all aspects of corporate responsibility, for our stakeholders, communities, and the broader world,” stated Joel T. Murphy, PAC’s Chairman and Chief Executive Officer.
This inaugural ESG Report reflects the ongoing commitment from PAC’s senior leadership team to corporate responsibility, and the work of the Company’s ESG Committee. Members of the Committee include: John Isakson, Chief Financial Officer; Mike Cronin, Chief Accounting Officer; Paul Cullen, Executive Vice President, Investor Relations; Ginger Park, Chief Accounting Officer - Retail; Michael Mangrum, Director of Internal Audit; and Jared Seff, SVP, Deputy General Counsel and Assistant Corporate Secretary.
Core areas of Environmental focus include reducing energy and water consumption at the property operations and resident and tenant levels, improving waste management and recycling programs, and encouraging the use of reduced-emissions transportation options.
Key highlights include:
- Use of reclaimed or retained water for landscape irrigation across properties where feasible
- Annual irrigation audits across multifamily properties to ensure responsible water usage
- 60% of properties in PAC’s portfolio are fully equipped with LED lighting and PAC is evaluating additional installation across remaining properties
- Initial installation of EV charging stations at select properties with expansion plans
On the Social front, PAC’s people remain the Company’s most valuable asset, and PAC is investing it its team and communities through workforce development, health and wellness, and community involvement programs.
Key highlights include:
- Established a Diversity, Equity and Inclusion (DE&I) committee with a mission and vision statement to drive DE&I efforts
- PAC was named a Top Workplace in Atlanta by the Atlanta Journal Constitution for five consecutive years
- PAC was rated as the top multifamily REIT nationwide by J Turner’s Online Reputation Assessment two years in a row
- PAC participated in volunteer and philanthropic efforts with organizations such as the Atlanta Community Food Bank, Toys for Tots, Breast Cancer Awareness, the American Heart Association, the March of Dimes, and the Andrew P. Stewart Center
Corporate Governance has long been an area of strength for the Company. PAC operates under a Code of Business Conduct and Ethics dedicated to maintaining the highest integrity and standards of ethics, and PAC’s Board of Directors has developed and adopted Corporate Governance Guidelines to promote the functioning of the Board and its committees.
Accessing the Report
This Environmental, Social and Governance Report follows the SASB Reporting Guidelines, which represents the industry gold standard for corporate ESG reporting. Readers can access the digital version of the report by clicking [here].
About Preferred Apartment Communities, Inc.
Preferred Apartment Communities, Inc. (NYSE: APTS) is a real estate investment trust engaged primarily in the ownership and operation of Class A multifamily properties, with select investments in grocery anchored shopping centers. Preferred Apartment Communities’ investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating multifamily real estate loans. As of March 31, 2022, the Company owned or was invested in 113 properties in 13 states, predominantly in the Southeast region of the United States. Learn more at www.pacapts.com.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of forward-looking terminology such as "may", "trend", "will", "expects", "plans", "estimates", "anticipates", "projects", "intends", "believes", "goals", "objectives", "outlook" and similar expressions. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. PAC undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.