Canadian rental housing providers for affordable housing: ForAffordable.ca More info

Our Environment, Social & Governance story

Our Approach to ESG

CAPREIT invests in its assets and people in order to build a leading portfolio of residential rental properties. Environmental sustainability, and more recently an environmental, social, and governance (ESG) focus have been integral to the company’s responsible asset management practices.

 

In 2022, CAPREIT identified a need to integrate its various ESG initiatives into a performance-based ESG Strategy that is aligned with its business strategy, supports long-term value creation, and meets the evolving expectations of investors. We set about developing a three-year ESG Strategy that includes a Climate Action Plan. It identifies our key ESG priorities and lays out a foundational set of goals, actions, and performance measures that we will use to track our progress over the next three years.

 

Our ESG Strategy is a ‘living document’ that will evolve over time as we advance our actions and adapt to the changing needs of our operating and investing environment. 

CAPREIT'S ESG Strategy

Our material ESG factors are organized within three pillars that align with CAPREIT’s strategic objectives:

 

Best Place to LIVE

VISION

Providing safe, healthy, and sustainable places to live.

PRIORITY AREAS

  • Energy Management
  • Water and Waste Management
  • Green Buildings
  • Resident Satisfaction and Safety
  • Affordable Housing
  • Community Partnerships

Best Place to WORK

VISION

Creating a workplace that attracts the best and the brightest, providing opportunity for growth and development.

PRIORITY AREAS

  • People and Culture
  • Employee Engagement and Recognition
  • Professional Development
  • Employee Health and Well-being
  • Diversity, Equity, and Inclusion
  • Environmental Health and Safety

Best Place to INVEST

VISION

Providing safe, healthy, and sustainable places to live.

PRIORITY AREAS

  • ESG Governance Systems and Processes
  • Corporate Governance Practices
  • ESG Risk Management

Climate is a cross-cutting ESG factor that we consider in all aspects of our business

PRIORITY AREAS

  • Greenhouse Gas (GHG) Emissions
  • Climate Change – Physical Risks/Opportunities
  • Climate Change – Transition Risks/Opportunities

Our 2022 Environmental, Social & Governance Report

2022 ESG Highlights

Best Place to LIVE

Almost $20 million invested in energy efficiency efficiency in 20221 with almost $67 million in cumulative investments since 2019

Scored 7/10 on our annual Resident
Satisfaction Survey and our Recommendation Score remained strong at 78%

42% of our suites are considered affordable housing units

Provided affordable housing to more than 50 municipalities and community social groups for the most vulnerable

Best Place to WORK

Scored 75% on our overall engagement score in our annual Employee Engagement Survey

The only Canadian company to have achieved gender balance across all levels (2021), out of those analyzed and reported by Equileap2

55% of our workforce identifies as female, and 31% of our employees self-identify as Black, Indigenous or People of Colour (BIPOC)

20+ employees were certified in ‘Mental Health and First Aid’

Best Place to INVEST

38% of Independent Trustees self-identify as female

22% of trustees and 45% of senior executive management3 self-identify as BIPOC

Integrating ESG into a newly developed Enterprise Risk Management Program

Initiated development of a corporate Climate Action Plan

1.  Includes energy-efficiency investments in residential suites and buildings, MHC sites, and commercial/retail spaces in the Canadian portfolio.

2. As reported by Equileap in their 2023 Gender Equality Global Report & Ranking.

3. Vice Presidents and above.

News

News

Op-ed: New housing minister cannot crack the code alone

Op-ed published in The Hill Times. Expanded immigration can work hand-in-hand with the construction industry’s goals to open the way to uild the 3.5 million
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News

Op-ed: Canada’s Housing Crisis

Op-ed originally published in BC Landlord’s THE KEY Summer 2023. Canada doesn’t have enough housing. That’s a fact that people from all walks of life,
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News

Op-ed: As Canadian housing crisis rages on, is ‘financialization’ really to blame?

Addressing Canada’s housing crisis requires all-hands-on-deck. Step 1: stop chasing away the capital we’ll need to build 5.8 million new homes.  Read my op-ed published
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News

BNN Bloomberg Interview with Mark Kenney – The Housing Crisis in Canada

From rents to immigration, CAPREIT President & Chief Executive Officer, Mark Kenney, discusses the critical issues surrounding affordability and the lack of housing crisis in
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News

EV Charging is here

Driving Sustainable Change in Our Communities We are excited to announce CAPREIT’s latest sustainability initiative in celebration of Earth Day! As part of our commitment
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News

Mark Kenney on ‘Working Capital: The Real Estate Podcast’ on Canadian REIT Market and Affordable Housing

Great conversation on the Canadian REIT Market and Affordable Housing with Mark Kenney and Jesse Fragale on the ‘Working Capital: The Real Estate Podcast’ You
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Contact us

We welcome any comments and questions you might have. Feel free to contact us anytime by phone or email.