AIR Communities Publishes 2022/2023 Corporate Responsibility Report

Rhea-AI Summary

Apartment Income REIT Corp. (AIR) publishes its 2022/2023 Corporate Responsibility Report, highlighting its commitment to sustainability and community building.

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• 65% of AIR's properties are now certified as sustainable, with a target of 95% by year-end 2024.

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• None.

The report showcases AIR’s social, environmental, and governance efforts; 65% of AIR’s properties are now certified as sustainable with 95% target by year-end 2024.

DENVER--(BUSINESS WIRE)-- Apartment Income REIT Corp. (NYSE: AIRC) (“AIR” or “AIR Communities”) today announced the publication of its 2022/2023 Corporate Responsibility Report. The report highlights AIR’s commitment to building community and its focus on continuous improvement in all areas of its business.

“We believe our work is more than a business - it’s a high calling to serve others by providing good neighbors for our residents, rewarding work to teammates, and engagement in the communities where we live and work,” said CEO Terry Considine. “The team at AIR Communities takes seriously its responsibility to care for our customers, our communities, and each other as teammates, and that commitment is celebrated and documented throughout this new report.”

“The Board is highly engaged in AIR’s corporate responsibility efforts. Social, environmental, and corporate responsibility matters are reviewed each quarter,” said Ann Sperling, Director and Chairman of the Governance and Corporate Responsibility Committee. “Being a good corporate citizen is essential to AIR’s long-term success, and I applaud the AIR team for its continued progress on our goals."

With the publishing of the 2022/2023 Corporate Responsibility Report, AIR now reports measures, and validates its progress consistent with GRESB, the United Nations Sustainability Goals (UNSDGs), SASB, and TCFD. The breadth of AIR’s reporting is consistent with industry standards, as is its performance. Highlights of AIR's accomplishments in a number of key areas in the last year include:

Social:

• Named a Kingsley Elite Five winner for customer satisfaction for the second consecutive year, ranking second among all operators and first among publicly traded REITs.
• A 4.42 out of 5 team engagement score in the company’s annual survey with a record participation rate of 79%.
• Honored for being a National Top Workplace, a Regional Top Workplace in Colorado, South Florida, and Philadelphia, and a Healthiest Employer in Colorado and South Florida.
• Support for a range of causes including:
  • Teammate engagement in community service;
  • Free enterprise;
  • The rule of law and public safety;
  • Patriotic causes, including providing full pay and benefits to teammates deployed overseas and donating more than $2.7 million to veteran-focused nonprofits over the last 10 years; and
  • Legal immigration and teammate assistance with proficiency in English and citizenship status.

Environmental:

• Achieved the company’s Greenhouse Gas (GHG) emissions goal two years ahead of schedule, and made progress on energy and waste reduction targets:
  • GHG emissions down 16.5% over baseline (2019-2022);
  • Energy usage down 10.3% over baseline (2019-2022); and
  • Waste diversion up 15.5% over baseline (2019-2022).
• Alignment with the Task Force on Climate-related Financial Disclosures (TCFD) and the Sustainability Accounting Standards Board (SASB).
• Significant progress towards the company’s goal of certifying 95% of buildings as sustainable by year-end 2024, with 65% of AIR’s properties now certified.

Governance:

• Governance and Corporate Responsibility Committee Charter amended to include oversight of climate-related risks and opportunities.
• Elimination of supermajority voting provision to amend AIR's Charter and Bylaws.
• Quarterly Board updates on AIR’s corporate responsibility initiatives, including ESG topics and goals.
• AIR has met or spoken with holders of approximately 70% of our outstanding shares.
• Proactive Board succession planning led by AIR’s Governance and Corporate Responsibility Committee.

"Our Corporate Responsibility Report provides transparency into our performance and our commitment to continuous improvement,” said Patti Shwayder, Chief Corporate Responsibility Officer at AIR Communities. We are proud of the progress, ahead of schedule in several measures, and are excited to continue building on our success."

The report is available to view here. To read more about AIR’s commitment to corporate responsibility, please visit AIR’s updated Corporate Responsibility website.

About AIR Communities

Apartment Income REIT Corp (NYSE: AIRC) is a publicly traded, self-administered real estate investment trust (“REIT”). AIR’s portfolio comprises 75 communities totaling 26,555 apartment homes located in 10 states and the District of Columbia. AIR offers a simple, predictable business model with focus on what we call the AIR Edge, the cumulative result of our focus on resident selection, satisfaction, and retention, as well as relentless innovation in delivering best-in-class property management. The AIR Edge is a durable operating advantage in driving organic growth, as well as making possible the opportunity for excess returns for properties new to AIR’s platform. For additional information, please visit aircommunities.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231010233155/en/

Media Contact:

Stephanie Joslin

303-691-4463

stephanie.joslin@aircommunities.com

Source: Apartment Income REIT Corp

FAQ

What is the focus of AIR's Corporate Responsibility Report?

The focus of AIR's Corporate Responsibility Report is on sustainability and community building.

What percentage of AIR's properties are currently certified as sustainable?

Currently, 65% of AIR's properties are certified as sustainable.

What is AIR's target for sustainable certification by year-end 2024?

AIR's target is to have 95% of its properties certified as sustainable by year-end 2024.

What are some of AIR's accomplishments in the last year?

Some of AIR's accomplishments in the last year include achieving its greenhouse gas emissions goal ahead of schedule, reducing energy usage and waste, and being recognized for customer satisfaction and team engagement.

What industry standards does AIR's reporting align with?

AIR's reporting aligns with GRESB, the United Nations Sustainability Goals (UNSDGs), SASB, and TCFD.

Where can the Corporate Responsibility Report be viewed?

The Corporate Responsibility Report can be viewed on AIR's website.