Our ESG story
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
Op-ed: New housing minister cannot crack the code alone
Op-ed: Canada’s Housing Crisis
Op-ed: As Canadian housing crisis rages on, is ‘financialization’ really to blame?
BNN Bloomberg Interview with Mark Kenney – The Housing Crisis in Canada
EV Charging is here
Mark Kenney on ‘Working Capital: The Real Estate Podcast’ on Canadian REIT Market and Affordable Housing
Contact us
We welcome any comments and questions you might have. Feel free to contact us anytime by phone or email.
- 11 Church Street, Toronto, ON M5E 1W1
- (416) 861-9404