Morguard Releases 2013 Corporate Sustainability and Responsibility Report: Results position Morguard as Future 40 Responsible Corporate Leader
MISSISSAUGA, ON, May 23, 2014 /CNW/ - Morguard Corporation (TSX: MRC) ("Morguard") today released its 2013 Corporate Sustainability Report, that demonstrates continuous improvements in environmental, social and corporate governance (ESG) performance and follows the Global Reporting Initiative (GRI) framework.
Highlights from the Report show significant achievements including:
- A reduction in energy, water and waste use across Morguard's owned and managed portfolio
- Multiple BOMA and LEED certifications
- Recognition through 18 industry awards
- Charitable donations of more than $1.5 million
You can download the Report titled "Sustainability. Responsibility. Results." at www.morguard.com.
"It takes a whole team of real estate property professionals to embrace and implement a sustainability program to achieve measurable performance," said Rai Sahi, Chairman and CEO of Morguard Corporation. "We believe that by making sustainability a strategic priority and systematically integrating it into our business, Morguard will be in the best position to build value for our shareholders, clients, tenants and employees."
Responsible Property Investment
Morguard recognizes that partnering with tenants and engaging with clients during business planning is critical to Responsible Property Investment (RPI). To increase focus on sustainability initiatives and performance at its owned and managed real estate portfolio in North America, Morguard is providing key clients with property performance targets and greater ESG data in their business plans, capital plans and budgets to drive environmental improvements.
Reaching Net Zero - Operational Building Performance
Morguard's sustainability initiatives resulted in a significant cost savings through reductions in building energy, water and waste, over our baseline year of 2010.
|Less Energy Usage||Less Water Usage|
|Reductions in 2013||-0.7%||-4.0%|
|Reductions since 2010 Baseline||-7.5%||-16.1%|
To give perspective, the energy savings alone in 2013 could power 400 homes for a year, while the water savings could fill 35 swimming pools.
"Development and redevelopment projects are a cornerstone of Morguard's sustainability strategy. "As a real estate company, we can have a direct, positive influence on communities through the construction and design of sustainable buildings," said Stephen Taylor, President and COO of Morguard Investments Limited. "From building to LEED standards to holding community consultation processes to contributing to off-site local improvements, we seek to make the communities where we operate better for all - now and for the future."
With $650 million in development and redevelopment activity in 2013, Morguard achieved five GOLD LEED designations on new projects. Today, Morguard has 14 active projects targeting LEED designations including Uptown (Retail) in Victoria, BC, Performance Court (Office) in Ottawa, ON, and The Heathview (Residential) in Toronto, ON.
Morguard recognizes that sustainability is not just about our properties and the environment, but about the people who make up our team. We strive to empower our people to ensure that Morguard retains, engages, and attracts innovative talent that will contribute to our success. In 2013, Morguard was recognized as one of the Top 35 Best Employers in the GTA and received two Gold Awards from Thomson Reuters as one of Canada's Safest Employers - that speaks to the dedication of our Occupational Health and Safety team. With approximately 120 million visitors to our properties every year, keeping these visitors and our employees safe is a priority.
Future 40 Responsible Corporate Leader
Morguard was recently named as a Future 40 Responsible Corporate Leader in Canada by Corporate Knights recognizing the corporate up-and-comers in Canada that are top sustainability performers. Corporate Knights, a media and investment research company based in Toronto, selected Morguard among a qualified group of 213 companies. Morguard scored well based on 12 key performance indicators including energy use, GHG emissions, water use, waste production, employee turnover and lost-time injury rate. The ranking acknowledges Morguard's leadership in ESG reporting and the results of our sustainability programs.
Morguard Corporation (TSX: MRC) is a major North American real estate and property management company. It has extensive retail, office, industrial, and multi-unit residential holdings owned directly and through its investment in Morguard REIT (TSX: MRT.UN) and Morguard North American Residential REIT (TSX: MRG.UN). Morguard also provides real estate management and investment services to institutional and other investors. Morguard's owned and managed real estate portfolio is valued at approximately $15.2 billion.
SOURCE Morguard CorporationFor further information:
K. (Rai) Sahi
Chief Executive Officer
Director, Strategic Initiatives and Sustainability