Thinking Sustainably: Morguard Releases 2021 Sustainability Report
Sep 29, 2022
Morguard continued to drive positive change and take action to reduce their footprint in 2021
- Morguard earned HOOPP's Leadership in Environmental Advancement Program (LEAP) Forward Award for our progress in utilizing smart valve technology to reduce water consumption by 25% at our retail properties.
- Morguard supported various community causes including food donations to mitigate food insecurity, educational programming around climate change, and a bicycle helmet drive to support brain injury awareness.
- Morguard's Board of Directors formally integrated sustainability issues such as climate change into the company's risk management processes.
MISSISSAUGA, ON, Sept. 29, 2022 /CNW/ - Morguard Corporation ("Morguard") (TSX: MRC) today released its 2021 annual Sustainability Report, outlining the accomplishments and activities of Sustainable Morguard, the company's organization-wide sustainability program that focuses on environmental, social and governance ("ESG") performance. Morguard worked to create additional value for employees, tenants, residents, communities, and their environments by addressing ESG-related risks, including climate change, employee wellbeing and cyber security. To download the 2021 Sustainability Report and video, visit morguard.com/sustainability.
"At Morguard, we recognize our unique ability and responsibility to contribute to a sustainable future in the communities where we operate," said K. Rai Sahi, Chairman and CEO, Morguard. "In 2021, we continued to deliver stakeholder value through property development, innovative programs, and strategic collaboration. Caring about sustainability makes Morguard a more purposeful company. It is the right thing to do, and it is also the smart thing to do, now and in the future."
Morguard continued to reduce the use of energy, water, and waste by investing in modernizing properties, installing energy-efficient systems and processes, and partnering with innovative stakeholders and environmentally focused organizations. Our retail teams collaborated to drive innovative programs that address environmental concerns such as water performance. Intercity Shopping Centre, New Sudbury Centre, and Northgate Shopping Centre reduced water use by installing smart valves that enable properties to measure their water use more accurately and reduce the risk of water over-delivery. By utilizing the smart valve technology, the properties used up to 25 per cent less water earning Morguard a HOOPP LEAP Forward Award.
Morguard properties were recognized in 2021 by clients and industry partners for green initiatives. Some of these awards included the BOMA Canada TOBY Award, recognizing the conservation of natural resources and the reduction of waste at Bramalea City Centre. Centerpoint Mall was also awarded the BOMA BEST Gold Certificate, for its commitment to environmental leadership and stewardship. Morguard managed, Place Rosemère earned Performance + certification from ICI for its commitment to improving waste management performance.
Morguard supported a broad range of social causes through partnerships with established non-profit organizations. Our efforts include both direct charitable giving and support to social cause campaigns. Our teams work within local communities to support food donation campaigns, educational programming, and brain injury awareness. Morguard partnered with Earth Rangers, a kids' conservation organization, on a campaign aimed at empowering children to become eco-conscious.
Morguard earned recognition as one of Canada's Safest Employers for the 9th consecutive year, for its commitment to health and safety. In 2021, we focused on shining a light on mental health. Morguard introduced a mobile application connecting employees with trained mental health providers and implemented mandatory mental health awareness training for managers.
In 2021, a greater emphasis was placed on transparency, climate change and building resilience, human capital management and cybersecurity at the Board of Directors. The Board took several steps to further integrate sustainability and ESG initiatives into its governance processes. Sustainability strategies were integrated at the management level to maximize opportunities, mitigate risks, and further increase transparency around its sustainability approach.
"Morguard has long been committed to sustainability and supporting our local communities," said Beverley Flynn, Morguard's Sustainability Leadership Co-Chair. "The current evolution of the company includes increased focus on environmental stewardship, and we continue to look for and benchmark against the industry, other businesses in our community to push ourselves to do more."
To download the complete report and watch the video, visit Sustainable Morguard at morguard.com/company/sustainability.
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 Real Estate Investment Trust 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 $15.3 billion. Please visit www.morguard.com or follow us on LinkedIn.
SOURCE Morguard Corporation
For further information: K. Rai Sahi, Chief Executive Officer; Beverley G. Flynn, Senior Vice President and General Counsel; Christine Wickett, Director, Corporate Sustainability & Responsibility, T 905-281-3800; or email firstname.lastname@example.org