JBG SMITH Releases 2024 Sustainability Report
BETHESDA, Md. , April 22 /Businesswire/ - JBG SMITH, (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, today released its annual Sustainability Report, highlighting the accomplishments achieved across its operating portfolio in 2023.
Notable achievements and metrics in the report include:
Governance
- Updated its climate-related risk assessment to include integrate physical, transitional, and financial dimensions
- Maintained the gender balance composition of JBG SMITH’s Board of Trustees to include four women
- Released Sustainability and Human Rights policies
- Continued to align JBG SMITH’s reporting to the Sustainable Accounting Standard Board (SASB) and the Task Force on Climate-Related Disclosures (TCFD)
Environmental
- Maintained carbon neutrality across the operating portfolio for Scope 1 and 2 emissions
- 5-Star rated and top performing GRESB Sector Leader in Diversified Office/Residential for its Development Pipeline
- Recognized as Nareit’s Leader in the Light awardee in the Diversified sector for a second year
- Recognized with USGBC’s 2023 Leadership Award for Organizational Excellence
People & Community
- Mentored a summer intern class, 100% of which were from underrepresented groups
- Recognized in the Bloomberg Gender-Equality Index
- Increased to $72 million in financing to preserve approximately 3,000 units through the Washington Housing Initiative (WHI) Impact Pool
- Retail leasing completed in 2023 comprised 57% locally owned businesses and 43% minority-owned businesses
“The JBG SMITH team has worked with focused intention to further our commitment to ESG excellence and to reach the ambitious goals we continue to set for ourselves,” said Kimberly Pexton, Senior Vice President of Sustainability at JBG SMITH. “Environmental sustainability has been a core part of our business for years, and we strive to lead by example and ensure our strategic plans align with sustainability best practices at all levels. I am extremely proud of what our team has accomplished last year and deeply appreciative of the recognition they continue to receive for their dedicated work.”
About JBG SMITH
JBG SMITH owns, operates, invests in, and develops mixed-use properties in high growth and high barrier-to-entry submarkets in and around Washington, DC, most notably National Landing. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Washington, DC metropolitan area. Approximately 75.0% of JBG SMITH's holdings are in the National Landing submarket in Northern Virginia, which is anchored by four key demand drivers: Amazon's new headquarters; Virginia Tech's under-construction $1 billion Innovation Campus; the submarket’s proximity to the Pentagon; and JBG SMITH’s deployment of 5G digital infrastructure. JBG SMITH's dynamic portfolio currently comprises 14.2 million square feet of high-growth office, multifamily, and retail assets at share, 99% of which are Metro-served. It also maintains a development pipeline encompassing 8.8 million square feet of mixed-use, primarily multifamily, development opportunities. JBG SMITH is committed to the operation and development of green, smart, and healthy buildings and plans to maintain carbon neutral operations annually. For more information on JBG SMITH please visit www.jbgsmith.com.
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