PASADENA, Calif., June 29, 2023 /PRNewswire/ — Alexandria Real Estate Equities, Inc. (NYSE: ARE), the first, preeminent, longest-tenured and pioneering owner, operator and developer of collaborative life science, agtech and advanced technology campuses in AAA innovation cluster locations, today announced that it has released its 2022 ESG Report. Alexandria’s sixth ESG-focused report demonstrates the company’s commitment to and execution of its industry-leading environmental, social and governance (ESG) strategy.
“For Alexandria, our dedication to making a positive and lasting impact on the world drives us each and every day. We believe that doing well in our business and doing good for society are inherently linked endeavors, and this belief has shaped our differentiated business model and supports our industry-leading ESG platform,” said Dean A. Shigenaga, president and chief financial officer of Alexandria Real Estate Equities, Inc. “We are extremely proud of our broad recognition for leadership across our ESG platform. Our world-class team’s commitment and operational excellence enable the longstanding trusted relationships we have built with our innovative life science tenants, who rely on our 24/7, mission-critical laboratory infrastructure to advance their lifesaving work, which cannot be conducted from home.”
“We continue to make significant progress in advancing our approach to net zero and are pleased to highlight our decarbonization strategy in our 2022 ESG Report,” said Eleni Reed, senior vice president and head of sustainability at Alexandria Real Estate Equities, Inc. “Our strategy, which includes reducing emissions from the operation of our state-of-the-art facilities through electrification, energy efficiency and renewable electricity, is closely aligned with the sustainability goals of many of our innovative tenants. Notably, Alexandria’s highly sustainable laboratory developments for Eli Lily and Moderna in our Greater Boston market showcase our proactive approach to reducing emissions.”
The company’s report details its efforts to advance impactful ESG programs, including its approach to net zero by developing an innovative greenhouse gas emissions mitigation strategy and advancing climate resilience in its life science real estate portfolio. The report also spotlights Alexandria’s leadership in catalyzing the health, wellness, safety and productivity of its employees, tenants, local communities and the world through the built environment and beyond, including through its pioneering social responsibility initiatives and its commitment to upholding the highest levels of transparency, integrity and accountability. Notable efforts and accomplishments presented in the report include:
- Being recognized by GRESB as a Regional and Global Sector Leader in the Science & Technology sector for outstanding ESG integration in its value-creation development projects; ranking #2 in the Diversified Listed sector for its mission-critical operating assets; and receiving its fifth consecutive “A” disclosure score for transparency around its practices and performance. Alexandria has earned “Green Star” recognitions in the operating asset benchmark for six consecutive years and in the development benchmark for three consecutive years since its 2020 launch;
- Ranking #5 in Barron’s publication of the “10 Real Estate Companies That Are Both Greener and More Profitable”;
- Receiving an ESG Rating of “A” from MSCI for the second consecutive year;
- Ranking in the top 10% in ISS environment and social scores and top 10% for its S&P Global ESG scores and increasing its CDP score to “B,” putting the company in the top 10% of environmental disclosure and performance scores among FTSE Nareit All REITs Index companies;
- Increasing its investment in renewable electricity to mitigate emissions in its existing asset base, including through a large-scale solar power purchase agreement that will supply renewable electricity to its Greater Boston region starting in 2024;
- Pursuing Zero Energy certifications for two projects: 325 Binney Street, which is targeting LEED Zero Energy and is designed to be the most sustainable laboratory building in Cambridge, and 685 Gateway Boulevard, which is designated as Zero Energy Ready and is on track to achieve ILFI Zero Energy certification;
- Having 88 LEED projects certified or in progress in its asset base, representing a 7% increase compared to 2021;
- Ranking in the top 5 issuers of green bonds among S&P 500 REITs, with $3.2 billion issued since 2018, proceeds from which continue to be allocated to projects that have achieved or are targeting LEED Gold or Platinum certification;
- Having 55 projects that have achieved or are targeting healthy building certifications, putting the company on track to meet its 2025 goal of 50 healthy building certifications;
- Being named one of Newsweek‘s Most Trustworthy Companies in America in 2023, one of only six S&P 500 REITs recognized in the Real Estate & Housing category;
- Donating mission-critical funds to over 290 non-profit organizations, as well as volunteering over 1,000 hours through Operation CARE, the company’s employee social impact program; and
- Earning its eighth Nareit Investor CARE Award in the Large Cap Equity REIT category for superior shareholder communications and reporting, highlighting Alexandria’s best-in-class operational transparency and reporting practices.
Alexandria’s 2022 ESG Report obtained third-party limited assurance from DNV Business Assurance USA, Inc. (DNV) and was developed in accordance with the Standards of the Global Reporting Initiative (GRI). Learn more about the company’s comprehensive ESG approach and its progress on key initiatives in its 2022 ESG Report, which is available on the ESG page of the company’s website.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative life science, agtech and advanced technology campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and Research Triangle. The trusted partner to over 850 tenants, Alexandria has a total market capitalization of $33.0 billion and an asset base in North America of 75.6 million SF as of March 31, 2023, which includes 41.9 million RSF of operating properties, 5.5 million RSF of Class A properties undergoing construction and 9.7 million RSF of near-term and intermediate-term development and redevelopment projects. Alexandria has a longstanding and proven track record of developing Class A properties clustered in life science, agtech and advanced technology campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science, agrifoodtech, climate innovation and technology companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For more information on Alexandria, please visit www.are.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding Alexandria’s initiatives, strategies, programs, policies, practices, investments and philanthropic efforts, assessments, progress, timing and performance in connection with Alexandria’s ESG goals and the impact of the foregoing on Alexandria’s and Alexandria’s tenants’ business, operations and workforce; the reduction of carbon, energy and other resource use; the mitigation of climate risk; LEED and healthy building certifications and efficiencies; and allocation or use of proceeds for sustainable or ESG purposes. These forward-looking statements are based on Alexandria’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by Alexandria’s forward-looking statements as a result of a variety of factors, including, without limitation, the risks and uncertainties detailed in its filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release, and Alexandria assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in Alexandria’s forward-looking statements, and risks and uncertainties to Alexandria’s business in general, please refer to Alexandria’s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q.
CONTACT: Courtney Mulligan, Assistant Vice President – Corporate Social Responsibility & Strategic
Projects, (646) 939-7471, [email protected]
SOURCE Alexandria Real Estate Equities, Inc.
