Concert deepens commitment to environmental, social and governance factors in its investment decision-making.
Vancouver, BC (December 16, 2021) - Concert is proud to announce that it has become a signatory to the United Nations-supported Principles for Responsible Investment (PRI). Established in partnership with the United Nations Environmental Programme (UNEP) Finance Initiative and UN Global Compact, the PRI is a global community of investment managers, asset owners and service providers working together to demonstrate their commitment to responsible investment.
The principles aim to provide a framework for incorporating environmental, social, and governance (ESG) factors in investment decision-making and active ownership practices. This commitment follows closely on the same commitment made by our sister company Concert Infrastructure earlier this month.
PRI CEO David Atkin comments, “The PRI is very pleased to welcome Concert as a signatory. In joining PRI, Concert is recognising the importance of integrating ESG factors into its investment and ownership decisions. We look forward to working with the team.”
This announcement builds on Concert’s strong track record of delivering on ESG across all five lines of business. In 2019, Concert released a detailed Sustainability Framework outlining the Company’s specific commitments and approach to our business decisions. The Framework is structured around 15 principles and contains over 40 action items, each with an evaluation metric to report on the company’s progress. The commitment to PRI reflects Concert’s recent efforts to align its unique ESG approach with established global standards.
“Concert has a long history of responsible investment, and in becoming a signatory to PRI, we are committing to an even higher standard of sustainable investment, as we believe strong, sustainable communities are fundamental to the social well-being of all Canadians,” says Brian McCauley, President and CEO.
Key goals include a commitment to achieving net zero GHG emissions by 2050, with all new buildings zero carbon by 2026.
Concert is committed to upholding these principles and action items, and is now also committed to the six Principles for Responsible Investment:
- Incorporate ESG issues into investment analysis and decision-making processes.
- Be active owners and incorporate ESG issues into our ownership policies and practices.
- Seek appropriate disclosure on ESG issues by the entities in which we invest.
- Promote acceptance and implementation of the Principles within the investment industry.
- Work together to enhance our effectiveness in implementing the Principles.
- Report on our activities and progress towards implementing the Principles.
Becoming a signatory to PRI further demonstrates Concert’s commitment to continue to develop leading ESG practices and to be a positive force for change in the Canadian real-estate industry as the company builds a people-first future.
About Concert
Since 1989, Concert has proudly developed, acquired and managed Canadian real estate in pursuit of building a people-first future. With over $7 billion in assets, we are backed and owned by over 200,000 Canadians, represented by union and management pension plans. We deliver rental apartments, condominiums, seniors' active aging communities, industrial and commercial properties, and public infrastructure projects, and in each business, our vision remains the same: building resilient, inclusive, sustainable communities. See ConcertProperties.com for more.
About the Principles for Responsible Investment
The PRI works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. Launched in New York in 2006, the PRI has grown to more than 4,500 signatories, managing over US $121 trillion AUM.
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Media Contacts
Dave Ramslie, Vice President, Innovation & Sustainability
DRamslie@ConcertProperties.com | 604.602.3826
www.ConcertProperties.com
On behalf of Concert
Krystal Carter, Beattie Tartan
Krystal.Carter@beattiegroup.com Cell: 647-271-2274