Minto Apartment Real Estate Investment Trust says it plans to tackle environmental challenges by using new technologies in its developments to help them withstand unpredictable weather conditions.
The company released its first “environmental, social and governance” report Tuesday, outlining 18 specific initiatives it plans to implement over the next five years. The company said it’s focused on business resilience, community impact and environmental impact.
"As we developed the strategy for the REIT, we built on the strong history of Minto Group's 40-plus years of experience and commitment to sustainability," said Michael Waters, chief executive officer.
"Developed with input from our stakeholders and with oversight by our board of trustees, this report highlights the integral part ESG plays in everything we do … from the way we treat our employees, residents and tenants to doing the right thing for our communities, the environment and the future of our business."
On the environmental front, the company said it will reduce water and energy use at its properties and improve energy efficiency while reducing carbon emissions to meet new targets.
The REIT also plans to “assess physical and transition risks of climate change” on its portfolio while designing new developments that are able to deal with more extreme weather.