CROMBIE REIT ANNOUNCES PUBLICATION OF ITS SECOND ANNUAL SUSTAINABILITY REPORT
NEW GLASGOW, NS, June 16, 2022 /CNW/ - Crombie Real Estate Investment Trust ("Crombie") (TSX: CRR.UN) announced today the publication of its 2021 Sustainability Report at www.crombie.ca. This report provides an update on Crombie's sustainability initiatives and long-term strategies. Crombie is committed to measuring baseline performance through the use of industry-leading software and will hold itself accountable by submitting to GRESB on an annual basis. The report highlights commitments that reflect its long-standing values.
"We are pleased to publish our 2021 Sustainability Report. At Crombie, we strive to improve communities for the benefit of future generations, not just our own. We know that our investments today must enable a better tomorrow, and our goal is to create value by developing and operating properties in a way that enhances local communities and protects the environment." said Don Clow, President and CEO. "In 2021, we brought new focus and energy to our sustainability program and advanced a number of environmental, social, and governance priorities."
Highlights from Crombie's 2021 Sustainability Report include:
- A 48% average waste diversion rate across the portfolio in 2021.
- Ecopilot® savings at Scotia Square in Halifax, Nova Scotia (since installation in 2019):
- 19% HVAC energy savings
- 17% HVAC costs saving
- 1,215 metric tonnes of CO2e reduction
- A commitment to expanding our BOMA BEST certification program by beginning the process of certifying our open-air retail portfolio.
- A formalized Sustainable Development Policy.
- 26% of new hires in 2021 were diverse candidates.
- 33% of Crombie's Board of Trustees are female trustees.
- A voluntary employee turnover rate of 11% (which remains low compared to industry standards).
Along with the work that has been completed and the principles that have been embedded in our corporate culture, Crombie has made our sustainability journey a priority by enhancing our environmental leadership structure. Earlier this year, Dan Bourque, who was previously Crombie's Director of Operations, was appointed to Vice President, Sustainability. In addition to Dan's years of experience in our business, Dan currently serves as BOMA Nova Scotia's Past President, and as a Director on BOMA Canada's Board of Directors.
Crombie Real Estate Investment Trust ("Crombie") invests in real estate that enriches local communities and enables long-term sustainable growth. As one of the country's leading owners, operators, and developers of quality real estate, Crombie's portfolio primarily includes grocery-anchored retail, retail-related industrial, and mixed-used residential properties in Canada's top urban and suburban markets. As at March 31, 2022, our portfolio contains 294 income-producing properties comprising approximately 18.5 million square feet, and a significant pipeline of future development projects. Learn more at www.crombie.ca.
SOURCE Crombie REIT
Media Contact: Clinton Keay, CPA, CA, Chief Financial Officer and Secretary, 902-755-8100; Ruth Martin, CPA, CA, Director, Investor Relations and Financial Analysis, 902-759-0164
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