SmartCentres Real Estate Investment Trust (“SmartCentres”) (TSX: SRU.UN) announced today the release of its 2024 ESG Report. The report highlights SmartCentres key ESG initiatives and accomplishments along with forward-looking commitments for how it will continue to embed ESG strategy into its business.
“SmartCentres remains committed to building resilient centres and advancing climate action through working closely with our tenants to meet our mutual ambitions. This year, we focused on taking tangible steps towards advancing our ESG priorities that included improving how we support our Associates, and manage emerging risks including cyber security, AI, and identifying how we can take action on climate change,” says Mitchell Goldhar, Executive Chairman and CEO, SmartCentres.
2024 highlights of SmartCentres ESG journey include:
- Embedded climate and sustainability considerations into future development decision-making processes;
- Completed Scenario Analysis to identify climate change related risk and opportunities;
- Developed a net zero framework to support setting an actionable net zero commitment;
- Worked with our tenants to significantly improve data sharing of tenant-controlled spaces;
- Improved Global Real Estate Sustainability Benchmark score over the previous year’s submission;
- Maintained strong commitment to governance and oversight with the establishment of an ESG Sub-Committee with responsibility for ESG matters;
- Exceeded Board diversity target with women representing 38% of the Trustees, and independent trustees representing 75% of the Board;
- Improved cybersecurity practices and upgraded enterprise risk management systems to ensure effective risk monitoring; and
- Incorporated ESG into our onboarding and annual training for all Associates.
SmartCentres fourth annual ESG Report can be found on its website at ESG Report - SmartCentres.
About SmartCentres
SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 196 strategically located properties in communities across the country. SmartCentres has approximately $11.9 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.4 million square feet of leasable space with 98.4% in place and committed occupancy, on 3,500 acres of owned land across Canada.
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