#Sustainability #Corporate Responsibility #W. P. Carey

W.P. Carey 2024 Corporate Responsibility Report: A Commitment to Sustainable Business Practices

W. P. Carey, a prominent net lease Real Estate Investment Trust (REIT) known for corporate sale-leasebacks and build-to-suits, has recently released its 2024 Corporate Responsibility Report. This report reflects the company's dedication to transparency and accountability, adhering to the standards established by the Task Force on Climate-related Financial Disclosures (TCFD) and the Global Reporting Initiative (GRI).

Significant Progress and Achievements

The report encapsulates W.P. Carey’s notable strides in various areas of corporate responsibility:

• - Solar Energy Integration: The company has expanded its solar capabilities through its initiative called CareySolar®, increasing the solar capacity within its portfolio to about 30 megawatts (MW). This aligns with global trends toward renewable energy adoption, demonstrating a strong commitment to reducing carbon footprints.

• - Double Materiality Assessment: This year marked the completion of W.P. Carey’s inaugural double materiality assessment, which not only considers the financial impact of environmental and social issues on the company but also evaluates how the company's operations affect these factors.

• - Green Leasing Initiatives: The organization has successfully increased the proportion of leases containing green provisions to over 30% by the end of 2024. This reflects a growing emphasis on environmentally responsible practices within their leasing process.

• - Emissions Reduction Goals: The establishment of a first emissions reduction target specifically for Scope 1 and 2 greenhouse gas emissions highlights W.P. Carey’s commitment to tackling climate change proactively.

• - Enhanced Data Transparency: The firm has improved tenant participation in electricity usage data reporting, which has more than doubled to over 60% of total portfolio square footage. This move not only enhances operational efficiencies but also fosters collaborative sustainability efforts among tenants.

• - Carbon-Neutral Construction Project: W.P. Carey achieved a significant milestone by completing its first carbon-neutral construction project. This achievement underscores the company’s effort to pioneer sustainable construction practices in the real estate sector.

• - Workplace Recognition: For the third year in a row, W.P. Carey has been recognized as a Great Place to Work® in the U.S., and for the first time in the Netherlands, reflecting its commitment to fostering a positive work environment for its employees.

• - Governance Quality: The company maintained a top-tier Governance QualityScore Rating of