OTTAWA,
ON, Oct. 31, 2023 /CNW/ - Minto Apartment Real
Estate Investment Trust (TSX: MI.UN) (the "REIT") today announced
the publication of its 2022 Environmental, Social and Governance
("ESG") Report (the "Report"). The Report shares the REIT's
progress implementing ESG initiatives and setting targets to
further its objectives and goals across all its operations and with
all its stakeholders from employees to residents and partners.
"In 2022, we continued to build on our leadership with respect
to ESG issues," said Jonathan Li,
President and Chief Executive Officer of Minto Apartment REIT.
"From the way we treat our employees and residents, to doing the
right thing for our communities, the environment, and the future of
our business, we have integrated ESG into every aspect of what we
do. We're enhancing business resilience through governance
structures that incorporate strong ESG dimensions to inform our
business practices. We're positively impacting our communities by
fostering meaningful connections with the residents we serve and
the employees that help us carry out our mission. And we're
continuing to reduce our environmental impact, including practices
such as reducing our consumption of natural resources which
naturally lowers our greenhouse gas emissions while continuing to
minimize waste."
"Underlining our commitment to ESG, the REIT participates in the
GRESB real estate assessment, which independently provides
actionable and transparent environmental, social and governance
data to financial market participants," added Mr. Li. "I am pleased
to report that we achieved a score of 80 and a GRESB 3-star rating,
indicating that we performed better than our peer comparison
group and global GRESB averages. We also received a score of 93,
Level A rank and ranked first out of 10 in our Canada comparison group in the GRESB Public
disclosure Evaluation."
2022 ESG highlights included:
- Investment: Invested $1.7 million
in environmental sustainability projects;
- Incentivized high ESG achievement: 50% of individual annual
bonus compensation is now tied to performance against ESG
objectives;
- Reduced environmental impact: We have reduced our rental
portfolio energy intensity by 11% and our carbon emissions by 15%
compared to a 2019 benchmark;
- Maintained management diversity: 52% of the REIT's management
team members are female; and
- Renewable energy: completed four energy feasibility
studies.
The Report adheres to the reporting standards of the Global
Reporting Initiative and the Sustainability Accounting Standards
Board. It can be found by visiting the REIT's website at
www.mintoapartmentreit.com/about/environmental-social-and-governance.
About Minto Apartment Real Estate
Investment Trust
Minto Apartment Real Estate Investment Trust is an
unincorporated, open-ended real estate investment trust established
pursuant to a declaration of trust under the laws of the Province
of Ontario to own, develop and
operate income-producing multi-residential properties located in
urban markets in Canada. The REIT
owns a portfolio of high-quality income-producing multi-residential
rental properties located in Toronto, Montreal, Ottawa, Calgary and Edmonton. For more information on Minto
Apartment REIT, please visit the REIT's website at:
www.mintoapartmentreit.com.
Forward-Looking
Information
This news release may contain forward-looking information within
the meaning of applicable securities legislation, which reflects
the REIT's current expectations regarding future events and in some
cases can be identified by such terms as "will" and "expected".
Forward-looking information is based on a number of assumptions and
is subject to a number of risks and uncertainties, many of which
are beyond the REIT's control that could cause actual results and
events to differ materially from those that are disclosed in or
implied by such forward-looking information. These risks and
uncertainties are more fully described in regulatory filings that
can be obtained on SEDAR+ at www.sedarplus.com.
SOURCE Minto Apartment Real Estate Income Trust