- ESGimpact (ESGi) represents a holistic approach
quantifying the positive environmental, societal and governance
impacts enabled by Rexford Industrial's differentiated,
value-driven business model
LOS
ANGELES, May 30, 2024 /PRNewswire/ -- Rexford
Industrial Realty, Inc. (the "Company" or "Rexford Industrial")
(NYSE: REXR), a real estate investment trust focused on creating
value by investing in and operating industrial properties located
throughout infill Southern
California, today released its annual Environmental,
Social and Governance Impact Report.
"Rexford's ESGi strategy creates positive impacts by
revitalizing dysfunctional industrial buildings throughout infill
Southern California and supporting
our communities and exceptional Rexford team," stated Michael
Frankel and Howard Schwimmer, Co-Chief Executive Officers
of the Company. "Our purpose-driven business model, built
upon a foundation of best-in-class corporate governance
practices, maximizes resilience and the value we deliver
to our team, community and stakeholders."
In 2023, Rexford
Industrial generated significant value through the
Company's ESGi approach, including:
- Environmental Value by preventing 40,456 tons of carbon
emissions through a focus on recycling dysfunctional infill
buildings, implementing green building strategies and collaborating
with tenants to drive sustainable operations
- Societal Value by generating approximately $1.4 billion of positive societal impact by
transforming buildings, engaging communities and fostering the
success and well-being of the Rexford team
- Governance Value by upholding robust governance policies and
practices, providing a foundation of transparency and
accountability that enables long-term value creation
Rexford Industrial's 2023 ESGi selected
milestones and goals include:
- Announced SBTi-validated emissions reduction targets and
committed to net zero greenhouse gas emissions by 2045
- Earned first LEED Gold redevelopment and first LEED Certified
repositioning, with approximately 7 million square feet of projects
targeting LEED Certified, or higher, over the next five years
- Committed 8.2 megawatts (MW) of additional rooftop solar,
bringing total installed or committed solar to over 17 MW, with a
target of 60 MW by 2028
- Earned Gold Green Lease Leader designation for the second
consecutive year and awarded Platinum Green Lease Leader in
April 2024
- Partnered with over 25 charities actively supported by the
Rexford Industrial team's 3,034 hours volunteered within the
community
- Launched RexSocials, employee-formed resource groups centered
around shared interests, and RexConnex, an interactive
peer-recognition platform, driving engagement and productivity
within a hybrid and flexible work structure
- Completed an average of 20 training hours per employee through
dedicated Department of Professional Excellence
In 2024 and beyond, Rexford Industrial will
continue to catalyze opportunities to create near- and long-term
value through the Company's holistic ESGi approach,
driving stakeholder satisfaction and advancing Environmental,
Societal and Governance Value.
The full report can be found under the ESG section of the
Company's website
at https://www.rexfordindustrial.com/ESG.
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and
redeveloping industrial properties throughout infill Southern California, the world's fourth
largest industrial market and consistently the highest-demand with
lowest-supply major market in the nation. The Company's highly
differentiated strategy enables internal and external growth
opportunities through its proprietary value creation and asset
management capabilities. Rexford Industrial's high-quality,
irreplaceable portfolio comprises 422 properties with approximately
49.5 million rentable square feet occupied by a stable and diverse
tenant base. Structured as a real estate investment trust (REIT)
listed on the New York Stock Exchange under the ticker "REXR,"
Rexford Industrial is an S&P MidCap 400 Index member. For more
information, please visit www.rexfordindustrial.com.
Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of the federal securities laws, which are based on
current expectations, forecasts and assumptions that involve risks
and uncertainties that could cause actual outcomes and results to
differ materially. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar expressions concerning
matters that are not historical facts. In some cases, you can
identify forward-looking statements by the use of forward-looking
terminology such as "may," "will," "should," "expects," "intends,"
"plans," "anticipates," "believes," "estimates," "predicts," or
"potential" or the negative of these words and phrases or similar
words or phrases which are predictions of or indicate future events
or trends and which do not relate solely to historical matters.
While forward-looking statements reflect the Company's good faith
beliefs, assumptions and expectations, they are not guarantees of
future performance. For a further discussion of risks and
other factors that could cause the Company's future results to
differ materially from any forward-looking statements, see the
reports and other filings by the Company with the U.S. Securities
and Exchange Commission, including the Company's Annual Report on
Form 10-K for the year ended December 31,
2023. The Company disclaims any obligation to publicly
update or revise any forward-looking statement to reflect changes
in underlying assumptions or factors, of new information, data or
methods, future events or other changes. In addition,
non-financial information, such as that included in parts of this
press release and the ESGi report, is subject to
greater potential limitations than financial information, given the
methods used for calculating or estimating such
information. Please see the full report for additional
information and methodologies and assumptions.
Contact:
Investorrelations@rexfordindustrial.com
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SOURCE Rexford Industrial Realty, Inc.