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Sustainability.
As one of the largest owners and developers of retail properties in the United States, we continually seek ways to promote our growth and improve our performance by attracting and retaining tenants and controlling our costs.

We operate in an environmentally responsible manner that positively impacts the community."

- Rohan Buckley, Investor

Overview

Parkway Associate Realty Trust reviews on an ongoing basis which measures are the most effective in supporting this strategy and where the greatest risk lies in not taking action. We focus our efforts on the areas we can control and make significant impacts. These include the design and construction of our new developments and the operation of our existing buildings.

While our sustainability management and investments reach across our portfolio, we have focused this report on the aggregate performance of retail buildings over which we have full control of the operational systems and information and which are at least fifty percent occupied. Retail buildings comprise the vast majority of our portfolio and by concentrating on similarly situated buildings we are able to compare performance and judge the effectiveness of our sustainability measures in a more meaningful way. Except as otherwise indicated, the energy efficiency and water conservation data presented in this report relates to these types of retail buildings. Based on our assessment, we apply the effective measures in our other property types, as appropriate. Over time we will continue to assess the available data and determine when to expand this report to address other property types and information.

Our sustainability efforts are centered on energy efficiency, waste reduction, water conservation and maintaining a quality environment for our tenants through our green cleaning program. As a company with a core strategy of long-term ownership, we use high quality building materials and design to reduce replacement costs and repairs and to ensure our buildings remain competitive for the long term. We invest in energy systems which reduce the cost of operations for ourselves and our tenants. A core element of our development strategy is a commitment to the U.S. Green Building Council’s LEED® (Leadership in Energy and Environmental Design) certification program. We also partner with our tenants to further their sustainability objectives, particularly with regard to large tenancies and build-to-suit projects.

The Sustainability Committee has the following goals.

  1. to identify and execute new strategies for promoting sustainability in new construction, existing buildings and
    corporate operations,
  2. to enhance the Company’s processes for collecting sustainability performance information,
  3. to promote communication across the Company and share “best practices,” 
  4. to assess the cost effectiveness of small and large scale projects and programs, and
  5. to follow new regulatory requirements and cooperate with the regulators to make new requirements meaningful.

We have committed to using the ENERGY STAR® Portfolio Manager system to measure the results of our efforts to increase energy efficiency and water conservation. We believe that Energy Star is currently the best system for measuring energy efficiency and water conservation because rather than basing results on absolute usage, it adjusts for factors which have a significant impact on true performance, such as weather.

At Parkway Associate, we take great pride in our people and our workplace. Our success is a result of the efforts of each of our employees. Our commitments to quality in our workplace, business practices, and in our employee benefits align our employees with our strategy to be successful and, in return, helps them make positive contributions in our communities. We have implemented business responsibility practices, including employee training and education, a comprehensive benefits program, and a wide range of charitable activities. As a result of these efforts, Parkway Associate Realty Trust makes a positive impact in the communities in which we live and work.

While we are proud of the results of our efforts to date, we will continue to assess where risk and opportunity lie in order to most effectively focus our program in the future. This report reflects our ongoing commitment to the transparency of our sustainability program and its achievements.

 

All rights reserved. Parkway Associate Realty Trust. 2005-2024.