Rexford Industrial Drives Substantial Positive ESG Impacts in 2021
LOS ANGELES, April 27, 2022 /PRNewswire/ — Rexford Industrial Realty, Inc. (the “Company” or “Rexford Industrial”) (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties located throughout infill Southern California, today released its 2021 Environmental, Social and Governance (ESG) Report.
“At Rexford Industrial, we are working to create positive impacts through our differentiated business model, which integrates ESG factors into every decision we make,” stated Michael Frankel and Howard Schwimmer, Co-Chief Executive Officers of the Company. “We reinvent legacy properties and breathe new life into urban infill communities, enabling us to create value that encompasses economic, community and environmental benefits. A robust ESG program is integral to our value creation strategy. Throughout 2021, we actively expanded upon our work to deepen our social and environmental impacts.”
Rexford Industrial’s 2021 ESG Report summarizes its robust ESG initiatives and future objectives, guided by its three strategic pillars of Environmental Stewardship, Community Welfare and a Culture of Respect and Excellence and in alignment with the United Nations Sustainable Development Goals (SDGs).
Rexford Industrial’s 2021 ESG milestones include:
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Exceeded 10% energy use reduction on repositioning projects
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Furthered its green building commitment through the issuance of a Green Bond to finance a low-carbon future
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Expanded its LEED program to include 52 LEED certified buildings, representing over 4.5 million square feet, completed, under development or in the near-term development pipeline
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Extended renewable energy investment to over 4MW of solar installations
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Formalized tenant engagement program supporting tenants’ reduction of energy, water and waste footprint, and earned the Green Lease Leader Silver designation for a third consecutive year
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Established a Community Engagement Committee to support youth development, environmental sustainability and eradication of homelessness, achieving over 75% employee volunteer participation
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Launched numerous employee programs including a permanent flexible work model called RexFlex, parental leave, and increased advancement and financial support through tuition reimbursement
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Completed over 20 hours of learning and development training per employee, which included formalized ESG training
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Achieved 30% board gender diversity and maintained an overall team comprising approximately 50% diverse and 60% female employees
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Conducted climate-related scenario planning in line with the Task Force on Climate-related Financial Disclosures (TCFD), which included in the 2021 ESG Report
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Signed the UN Global Compact, joining organizations worldwide to support responsible business practices in human rights, labor, environment and anti-corruption
In 2022, Rexford is committed to building green and continuing its path of recycling buildings and reinvigorating communities by delivering value-add ESG benefits. Looking forward, near term goals include its progress towards the establishment of science-based targets and a net zero carbon footprint commitment, expansion of the renewable energy program and solar investments, growing partnerships with tenants around ESG, achieving 2,000 hours of employee volunteer time, expansion of its internal learning platform and a continued focus on diversity, equity and inclusion.
With an ongoing ESG focus, Rexford is dedicated to investing in its team, communities and the environment to lead the way to a sustainable future.
The full report can be found under the ESG section of the Company’s website at https://www.rexfordindustrial.com/ESG.
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world’s fourth largest industrial market and consistently the highest-demand, lowest supply market in the nation. The Company’s highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. Rexford Industrial’s high-quality, irreplaceable portfolio comprises 312 properties with approximately 38.2 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker “REXR,” Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit www.rexfordindustrial.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, and the Company’s most recent Form 10-Q. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
Contact:
Investor Relations:
Stephen Swett
424 256 2153 ext. 401
[email protected]
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SOURCE Rexford Industrial Realty, Inc.