CREATING A BETTER WAY TO LIVE: THOUGHTS FROM CEO TIM NAUGHTON
2021 marks our 28th year as a public REIT. Back in 1993, we were just at the beginning of charting a path toward fulfilling a goal of becoming a great public company, and today we continue to be guided by a set of uncompromising core values and a bold purpose of creating a better way to live.
Over time we’ve grown from a modest upstart at the dawn of the modern REIT era into one of the largest real estate companies in the world. And with that growth comes increased responsibility to all of our stakeholders. In recognition of this role, we have set science-based targets and are dedicated to reducing environmental impacts, lowering our carbon footprint, increasing our social investment in the communities where we do business and creating and promoting an inclusive and diverse workplace where everyone can thrive.
I am proud of AvalonBay’s commitment to lead the way and contribute positively to the future, and encourage you to read more about our corporate responsibility accomplishments and plans in our annual CR Report.
COMMITTED TO CORPORATE RESPONSIBILITY
We take great pride in being good stewards of our investors’ capital, providing career opportunities and support to our associates, and acting as long-term partners in the local communities where we build and operate and where our residents live.
As a REIT, we are owners and investors for the long term, allowing us to consider the full lifecycle impact of our decisions. We are also an integrated company, with in-house development, construction management, property management and finance capabilities. This puts us in a better position to manage for sustainability compared to merchant builders or active asset traders. Our approach aligns with our core values - a spirit of caring, a commitment to integrity and a focus on continuous improvement - and our associates are justly proud of the contributions they make in the lives of our residents and communities.
By its very nature, our sector of the real estate industry is resource efficient, and we are impressed with the pace at which our markets are transforming. The cities and infill suburbs in our core markets are reinventing themselves and offering residents more options for sustainable living, from green building and walkable neighborhoods to better transit and bike-commuting alternatives. We are proud to be leaders in sustainability and corporate responsibility as evidenced by our approved Science-Based Targets and our regional and global sector leadership with the Global Real-Estate Sustainability Benchmark (GRESB).