CLEVELAND, June 26, 2018 /PRNewswire/ -- Forest City Realty Trust, Inc. (NYSE: FCEA) today announced the release of its 2017 corporate responsibility (CR) report. The report is Forest City's sixth annual, and includes updates on the company's strategic focus and execution on environmental, social and governance (ESG) matters.
"As a focused urban placemaker, Forest City has a well-rounded ESG program that helps us proactively address the issues that matter most to our stakeholders," said David J. LaRue, president and chief executive officer. "I'm proud of our associates' efforts to further establish our credentials as a sustainability leader in the real estate industry."
The report, available at cr.forestcity.net, focuses on Forest City's integrated and holistic approach to ESG management in alignment with the company's strategic principles of focused placemaking, sustainable growth and exceptional performance.
Notable achievements detailed in the report include:
- Being named in Equileap's Gender Equality Global Report and Ranking as one of the top-performing companies in the world for demonstrating progress in gender equality. The company was also recognized by 2020 Women on Boards for our commitment to female representation at the Board level.
- Investing $2.4 million in capital improvement projects aimed at energy efficiency, bringing the company's total investment since 2011 in this area to $34 million.
- Earning recognition as a 2018 ENERGY STAR Partner of the Year, the EPA's highest honor for organizations that protect the environment through superior energy efficiency.
- Becoming just the second U.S.-based real estate investment trust (REIT) to establish greenhouse gas (GHG) reduction goals approved by the Science Based Targets initiative. Under the new goal, Forest City will reduce directly managed emissions related to our operating portfolio (scope 1 and 2) by 27.5 percent by 2025 from a 2016 baseline, as well as 33 percent of emissions from sources such as tenant and resident spaces and construction activity (scope 3).
Key sustainability performance metrics include:
- Reducing scope 1 and 2 emissions intensity by 6.7 percent and scope 3 emissions by 56 percent from 2016 to 2017, demonstrating significant first-year progress towards the company's goals as part of the Science Based Targets initiative, which has a 2016 baseline.
- Exceeding waste diversion goal for operating properties ahead of schedule, achieving a 24 percent recycling rate in 2017.
- Reducing water use by 5.4 percent from 2016 to 2017.
"I'm proud to work for a company that values high-performing real estate and true community partnership, which when combined, create sustainable growth for all stakeholders," said Jill Ziegler, director of sustainability and corporate responsibility. "Creating great places like Stapleton in Denver, The Yards in Washington, D.C., and Pier 70 in San Francisco, where site work is underway, requires us to not only be innovative and forward-thinking, but also to be rigorous and process-oriented, ensuring that we can effectively measure, set and achieve our ESG goals."
To learn more, visit cr.forestcity.net to read the full report.
About Forest City
Forest City Realty Trust, Inc. is a NYSE-listed national real estate company with $8.0 billion in consolidated assets. The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate throughout the United States. For more information, visit www.forestcity.net.
SOURCE Forest City Realty Trust, Inc.