TORONTO, Dec. 14, 2020 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) is pleased to announce that it has achieved a 5-Star rating in the 2020 GRESB Real Estate Assessment with a score of 85. The 2020 score represents a 97% improvement since RioCan’s first submission in 2017. RioCan also received an ‘A’ rating, the highest GRESB public disclosure score, ranking first among its Canadian retail peers.
“RioCan has reached a milestone in its ESG journey and has now set a high bar for its Canadian peers,” said Dan Winters, GRESB Head of Americas. “In 2020, more than 1,200 property companies, REITs, funds and developers, representing $4.8 trillion in asset value, participated in the GRESB assessment. RioCan’s exceptional performance within this growing contingent is a great example of commitment to ESG integration that will advance sustainability within the real estate industry.”
“We launched our sustainability strategy in 2016 with a goal to be among the leaders integrating ESG practices across the business by 2020. RioCan is very proud to have achieved this objective, marking our leadership position with top marks in the GRESB survey,” said Jonathan Gitlin, President and Chief Operating Officer of RioCan. “Sustainability is a way of thinking and operating at RioCan. Despite the challenges brought on by the global pandemic, RioCan progressed its sustainability initiatives, including focused efforts to do our part in advocating for social equality. RioCan remains committed to embedding sustainability into all facets of our business model as a means to enhance the value of our assets and organization.”
In 2020, RioCan continued to deliver on its sustainability initiatives. Select achievements to-date are highlighted as follows:
Additional details about RioCan’s ESG efforts, progress and achievements, as well as the RioCan Green Bond Framework, can be found on the Sustainability page of RioCan’s website, www.riocan.com, under “About”.
RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at September 30, 2020, our portfolio is comprised of 221 properties with an aggregate net leasable area of approximately 38.4 million square feet (at RioCan's interest) including office, residential rental and 16 development properties. To learn more about us, please visit www.riocan.com.
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President & Chief Operating Officer