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Performance with Positive Impacts: Morguard Releases 2023 ESG Report - May 9, 2024

Performance with Positive Impacts: Morguard Releases 2023 ESG Report

May 9, 2024

Morguard maintains its commitment to reduce environmental impacts and support communities where we live and work.

MISSISSAUGA, ON, May 9, 2024 /CNW/ - Morguard Corporation ("Morguard") (TSX: MRC) today released its 2023 ESG Report prepared in accordance with the Global Reporting Initiative's Universal Standard. The report details our ongoing environmental, social and governance ("ESG") performance for owned and managed real estate assets, including commercial and multi suite residential, in Canada and the U.S. Throughout 2023, Morguard maintained its position as a sector leader in ESG practices, and purpose-driven performance is a top priority. To view the full 2023 ESG Report, visit

"Morguard remains dedicated to exploring sustainable real estate management, striving to make a meaningful impact in the communities we serve with achievable yet ambitious ESG goals," said K. Rai Sahi, Chairman and CEO, Morguard. "We will continue to leverage our past successes and adapt our strategies to enhance both impact and performance."

Key highlights from the Morguard 2023 ESG Report include:

  • Across Morguard's office and retail portfolio, there was a reduction in energy usage by 12.1%, GHG emissions by 18.1%, water consumption by 18.3%, and waste generation by 28.7% compared to our 2019 baseline.
  • Morguard managed 99 buildings certified through the BOMA Best® program, achieved LEED certifications for 17 buildings, and received ENERGY STAR® certification for 11 office properties.
  • Morguard's OnePlanet National Retail Initiative launched four socially responsible partnerships aimed at promoting plastic and battery recycling, textile diversion, and raising awareness amongst young people about environmental protection.
  • Morguard enhanced ESG planning and reporting in annual property business plans.

"As we continue our journey toward enhanced ESG performance and a sustainable future, we re-affirm our commitment to sustainable practices," said Beverley G. Flynn, Senior Vice President responsible for Legal, Risk and ESG. "We are grateful to our team, whose efforts have propelled our ESG performance forward. We will continuously reflect, renew, and innovate to enhance our sustainability."

About Morguard Corporation

Morguard Corporation is a major North American real estate and property management company. It has extensive retail, office, industrial, 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 $17.8 billion.

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SOURCE Morguard Corporation

For further information: Beverley G. Flynn, Senior Vice President; John Smičiklas, Director, ESG, T 905-281-3800. or email