Morguard Releases 2010-2011 Corporate Sustainability Report; Building A Sustainable Future
MISSISSAUGA, ON, Nov. 19, 2012 /CNW/ - Morguard Corporation (TSX: MRC) ("Morguard") today released its inaugural Corporate Sustainability Report online at www.morguard.com. Titled Building A Sustainable Future, the Report highlights Morguard's commitment to environmental, social and governance (ESG) initiatives.
"Sustainability is a strategic focus at Morguard," said Rai Sahi, Chairman and Chief Executive Officer, Morguard Corporation. "We have a responsibility and an opportunity to make a difference through our real estate assets by setting measureable, long-term sustainability goals that ensure shareholder value, responsible investment and stronger communities."
The Report used the Global Reporting Initiative (GRI) Framework for sustainability reporting and the Construction and Real Estate Sector Supplement (CRESS). It was self-declared as GRI Level B, indicating that Morguard has included disclosures on company profile, management approach, and a minimum of 20 additional indicators.
- Significant utility cost reduction in 2011: 2.2% (13 million ekWhs) reduction in energy use and a 4.7% (100,000+ litres) reduction in water use, in our Canadian office and retail portfolio
- 46% increase in BOMA BESt green building certifications (from 46 to 67 total properties in 2011)
- 23 Certified Rental Buildings in the Canadian residential portfolio in 2011
- 4 LEED certified buildings in operation and 12 new developments targeting LEED in progress
"Our Sustainable Morguard program will support our long-term goals and initiatives and build on our existing ESG policies and practices," said Sahi. "We have strong engagement from our employees, shareholders, tenants, clients and partners to achieve these goals."
Morguard is an expert in North American real estate ownership, investment and management. With a strategic focus on high-quality assets and diversification, Morguard has a proven track record of realizing the potential of real estate through consistent investment performance. Morguard has $12 billion of assets owned and under management. The integrated real estate services company manages its own real estate portfolio, as well as invests and manages on behalf of third-party institutional and private real estate investors. Morguard offers integrated real estate services, including investment management, asset management and property management.
Morguard Corporation also owns a 42.8% interest in Morguard Real Estate Investment Trust (TSX: MRT.UN) and a 56.1% effective interest in the Morguard North American Residential Real Estate Investment Trust (TSX: MRG.UN).
SOURCE: Morguard CorporationFor further information:
K. (Rai) Sahi
Chief Executive Officer
Director, Strategic Initiatives and Sustainability