NORTH BETHESDA, Md., June 1, 2021 /PRNewswire/ -- Federal Realty Investment Trust (NYSE:FRT) has released its 2020 corporate responsibility report highlighting the company's environmental, social and governance (ESG) initiatives and accomplishments. Information in the report is provided in alignment with the Global Reporting Initiative, the Sustainability Accounting Standards Board and the Task Force on Climate Related Financial Disclosures. Some of the highlights of the report include:
The alignment of Federal's ESG efforts with the United Nations Sustainable Development Goals
Establishing a target to reduce landlord controlled electric usage by 15% by the end of 2025
Establishing a target to reduce Scope 1 and 2 greenhouse gas emissions by 30% by the end of 2025
"We've been focusing on the cornerstone principles of ESG for decades at all levels of our company," said Donald C. Wood, Chief Executive Officer. "It's simply a way of doing business for us. Our 2020 corporate responsibility report really demonstrates the depth and breadth of our commitment to ESG, our ESG efforts and the impacts those efforts are having and are expected to have in the future."
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 101 properties include approximately 2,800 tenants, in 23 million square feet, and approximately 2,900 residential units.
Federal Realty has increased its quarterly dividends to its shareholders for 53 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.