NEW YORK, May 31, 2023 /PRNewswire/ -- W. P. Carey (W. P. Carey, NYSE: WPC), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today announced the release of its 2022 Environmental, Social and Governance (ESG) Report. Prepared in reference to disclosure standards established by the Task Force on Climate-related Financial Disclosures (TCFD) and the Global Reporting Initiative (GRI), the report summarizes W. P. Carey's progress and achievements across a range of ESG initiatives including sustainability, diversity and inclusion and corporate governance. It can be viewed and downloaded from W. P. Carey's website at www.wpcarey.com/esg.
Notable ESG achievements include:
- Obtained independent, third-party verification for Scope 1 and Scope 2 emissions at the limited assurance level from HXE Partners, ensuring W. P. Carey's data is accurate and complete based on current best practices.
- Recognized as a Green Lease Leader for the second consecutive year, among the first net lease REITs to receive the recognition at the Gold level. In 2022, W. P. Carey included green lease provisions in 27 leases totaling 16.8 million square feet and approximately $98 million of annualized base rent.
- Fully allocated proceeds from inaugural $350 million green bond to new and existing eligible green projects. The green bond was the first U.S. dollar green bond issued by a net lease REIT.
- Launched CareySolar™, W. P. Carey's turnkey solar solution providing eligible tenants the opportunity to take advantage of rooftop and carport solar installations at their leased properties.
- Achieved U.S. certification as a Great Place to Work® in 2022, based on survey results from U.S. employees.
- Included in the Bloomberg Gender-Equality Index for the third consecutive year, recognizing W. P. Carey's ongoing commitment to diversity and inclusion in the workplace.
- Maintained an Institutional Shareholder Services (ISS) QualityScore Governance Rating of "1", the highest possible rating.
Jason Fox, Chief Executive Officer, W. P. Carey said: "We're proud of the progress we've made on our ESG initiatives this past year. We recognize that ESG is vital to the long-term success of our business and continue to identify new goals and projects to scale our impact. As always, we are guided by our founder Wm. Polk Carey's commitment to Doing Good While Doing Well and remain committed to continually improving our business and positively impacting the communities in which we live and work."
W. P. Carey Inc.
Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $25 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,446 net lease properties covering approximately 176 million square feet and a portfolio of 84 self-storage operating properties, as of March 31, 2023. With offices in New York, London, Amsterdam and Dallas, the company remains focused on investing primarily in single-tenant, industrial, warehouse and retail properties located in the U.S. and Northern and Western Europe, under long-term net leases with built-in rent escalations.
This press release may contain forward-looking statements within the meaning of U.S. Federal securities laws. The comments of Mr. Fox are examples of forward-looking statements. A number of factors could cause W. P. Carey's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate, including the supply of and demand for commercial properties; interest rate levels; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact W. P. Carey, please reference its filings with the U.S. Securities and Exchange Commission.
Institutional Investors:
Peter Sands
1 (212) 492-1110
[email protected]
Individual Investors:
W. P. Carey Inc.
1 (212) 492-8920
[email protected]
Press Contact:
Anna McGrath
1 (212) 492-1166
[email protected]
SOURCE W. P. Carey Inc.
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