MISSISSAUGA, ON, May 2, 2019 /CNW/ - Morguard Corporation ("Morguard") (TSX: MRC) today released its 2018 Sustainability Report, outlining the accomplishments and activities of Sustainable Morguard, the company's corporate social responsibility program that focuses on environmental, social and governance ("ESG") issues. To download the Sustainability Report or the Highlights Report, visit morguard.com/sustainability.
"Integrating sustainability practices into every aspect of our business demonstrates our commitment to going beyond words and taking concrete action," said K. Rai Sahi, Chairman and CEO, Morguard. "We approach sustainability as an essential component to maintaining the long-term value of Morguard's assets, to mitigate risks, increase value and contribute to strong overall business and financial performance."
In 2018, Sustainable Morguard achieved significant advances in key sustainability metrics. Compared to the company's 2015 baseline results, Morguard achieved a 5.3% reduction in energy consumption, a 4.8% reduction in greenhouse gas emissions and a 3.8% reduction in water usage.
The company also implemented innovative ESG programs with sustainability and community partners, including:
- Partnering with Bullfrog Power to purchase renewable energy credits, displacing 87.25 tonnes of CO2e (GHG emissions);
- Implementing the Ontario Industrial Conservation Initiative at two new properties;
- Certifying seven properties with ENERGY STAR, which compares a property's energy performance against similar properties; and
- Strengthening the communities in which Morguard operates by raising funds and awareness for community groups, including Big Brothers Big Sisters Canada and the Leukemia and Lymphoma Society in the U.S.
"Creating value in our communities helps create value in our properties," said program cosponsor Beverley G. Flynn, Senior Vice President and General Counsel. "We are dedicated to advocating for sustainable practices and supporting our community partners to create positive change in the communities we serve."
The Sustainable Morguard program encompasses 321 commercial and multi-suite residential properties in communities across North America. The in-depth financial, physical and environmental analysis Morguard performs for each property comprises a range of environmental indicators that align with the company's Responsible Property Investing ("RPI") requirements, helping identify and address ESG risks and opportunities.
To download the complete reports, visit Sustainable Morguard at www.morguard.com/sustainability
About Morguard Corporation
Morguard Corporation is a major North American real estate company. It has extensive retail, office, industrial, multi–suite residential, and hotel holdings owned directly, or through its investment in Morguard North American Residential REIT (TSX: MRG.UN), Morguard REIT (TSX: MRT.UN), and Temple Hotels Inc. (TSX: TPH). Morguard also provides real estate management services to institutional and other investors. Morguard's owned and managed portfolio of assets is valued at $21.1 billion. Please visit morguard.com or follow us on LinkedIn.
SOURCE Morguard Corporation
For further information: Beverley G. Flynn, Senior Vice President and General Counsel, 905-281-3800; Christine Wickett, Manager, Corporate Sustainability & Responsibility, 905-281-3800; or email firstname.lastname@example.org