Morguard Corporation Releases 2016 Sustainability Report: Results Realized Through Best Practices in Responsible Property Investing
MISSISSAUGA, ON, May 8, 2017 /CNW/ - Morguard Corporation (TSX: MRC) ("Morguard") today released its 2016 Sustainability Report, demonstrating positive results across environmental, social and governance ("ESG") indicators. Understanding the priority investors place on Responsible Property Investing ("RPI"), Morguard's approach was a key driver in its successes in sustainability. To download the Highlights Report or the full Sustainability Report, visit www.morguard.com.
Morguard's approach to RPI is a best practice in the Canadian real estate industry. Incorporating environmental, social and governance indicators into property business and capital plans, provides investors with critical insights and allows Morguard to manage and operate efficient buildings. With a direct correlation between RPI and investment performance, this process results in value creation and operational excellence.
Demonstrated Results Over Time
Sustainable Morguard, the company's sustainability program, established in 2009, has produced numerous successes. In its first five years, from 2010 to 2015, Morguard's property management teams achieved a 14% reduction in energy consumption, a 24% reduction in greenhouse gas emissions and a 19% reduction in water consumption.
In 2016, Morguard adjusted to a 2015 baseline and continued to reduce environmental impacts including energy consumption (2.8% reduction), Greenhouse Gas (GHG) emissions (3.3% reduction), water consumption (1.1% reduction) and waste to landfill (2.0% reduction). These results saved an estimated $1.6 million in operating costs for office and retail tenants over a one-year period.
Morguard is committed to investor disclosure and was an early adopter of the Global Reporting Initiative (GRI) G3 sustainability reporting framework in 2010, including the Construction and Real Estate Sector Supplement (CRESS). For 2016, Morguard updated its framework to the new 2017 "GRI-Standard" and refreshed its materiality assessment to ensure sustainability programs and disclosures meet the needs of key stakeholders.
"These results recognize the strong partnership we have with investors, clients, tenants and employees" said K. Rai Sahi, Chairman and CEO, Morguard Corporation. "There is a strong commitment from our key stakeholders to invest time and effort in sustainable initiatives to achieve positive environmental and community benefits."
Green buildings benefit stakeholders through lower costs for tenants; improved health, safety and welfare of employees, tenants and visitors; protection of the environment; and contributes to strong financial performance for investors and shareholders.
2016 Report Highlights
- Reduced consumption by more than 16 million ekWh, enough to power 1,450 homes for a year
- Benchmarked portfolio energy use, enabling recognition for top performers included 333 Seymour (28% reduction), Northgate Shopping Centre (25% reduction) and Bramalea City Centre Office (18% reduction)
- Reduced emissions by over 4050 metric tonnes in 2016, which is equivalent to eliminating the annual GHG emissions from over 750 passenger vehicles
- Reduced usage of over 21,000 m3 of water, which is the equivalent of 8.5 Olympic swimming pools
- 12 LEED certified green buildings in operations
- 18 BOMA BEST green buildings re-certified in 2016
Occupational Health and Safety
Morguard is proud to be named one of Canada's Safest Employers for four consecutive years. The recognition is a clear indication of the strong employee and tenant engagement with its Occupational Health and Safety (OH&S) strategy. Morguard develops its programs internally to facilitate greater control, customization, and clear lines of accountability. Investment in these programs ensures the company maintains the highest standards of health and safety in its owned and managed real estate portfolio.
In addition to efforts in environmental and health and safety, Morguard also plays an active role in supporting the communities in which it operates. In 2016, Morguard participated in several community improvement projects, such as park and playground rebuilds, pedestrian walkways, bike paths and public space. Morguard also supports its communities through charitable giving and food drives.
In 2016, Morguard launched a national social cause marketing campaign, BeYou, at its 21 owned and managed shopping centres in Canada. In partnership with Big Sisters of Canada, the goal for the campaign was to increase self-esteem, personal growth and self-worth and empower young girls aged 9-16. A total of 12,861 girls registered and participated in events across the country, and the campaign successfully achieved more than 81 million media impressions. This engagement will provide long-term positive benefits in our local communities.
About Morguard Corporation
Morguard Corporation is a major North American real estate and property management company. It has extensive retail, office, industrial, hotel and residential holdings owned directly and through its investment in Morguard REIT and Morguard North American Residential REIT. Morguard also provides real estate management services to institutional and other investors. Morguard's owned and managed portfolio of assets is valued at $21.6 billion.
Corporate Web Site: www.morguard.com
Corporate LinkedIn: https://www.linkedin.com/company/morguard
SOURCE Morguard Corporation
Morguard Corporation, K. Rai Sahi, Chief Executive Officer, T 905-281-3800; Beverly G. Flynn, Vice President and General Counsel, T 905-281-3800; Neil Pegram, National Manager, Corporate Sustainability & Responsibility, T 905-281-3800, firstname.lastname@example.org