Commercial, Energy Efficiency - July 15, 2019
UDR announces target with 1st CR report
UDR, Inc. has set initial targets to reduce energy consumption by 15% between 2015 and 2025, procure 10% of common area electricity through renewable energy sources by 2025, and reduce water consumption intensity by 10% between 2015 and 2025.
The S&P 500 company, a leading multifamily real estate investment trust with an ownership position in almost 50,000 apartment homes, announced these steps with the release of its inaugural 2018 Corporate Responsibility Report and the launch of its sustainability-related website.
Other highlights for the company over the past year include:
- Completion of 41 LED lighting retrofits in 2018 that reduced common area electrical usage by 19% at targeted communities.
- Participation in 12 Demand Response Events in New York, NY, and Boston, MA in 2018 that reduced electrical demand by 1,100 KW during periods of high energy use.
- Investment of $750,000 in electrical panel upgrades in communities in 2018 with expected electrical savings of 1.1 million kwh annually.
- Since 2010, the company has developed or redeveloped 21 communities, comprising 6,788 homes, which have obtained sustainability certificates.
Explaining the release of its first report, UDR’s Chairman and CEO Thomas W. Toomey said, “UDR has been keenly focused on ESG related issues for quite some time now, but we have not been as transparent in publicly reporting our pursuits and successes over the years. Being a good corporate citizen is important to our Board of Directors, management team, Associates and shareholders. We are proud of what we have accomplished to date with regard to ESG and we look forward to incremental improvements in the years to come."
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