Agree Realty Corporation ADC has released its inaugural environmental, social and governance (ESG) report highlighting how the retail REIT emphasizes sustainability and responsibility.
“We are committed to ensuring the health, well-being and financial security of our team members while working with our best-in-class retail partners to enhance the sustainability of our assets in communities across the country,” CEO Joey Agree said in the report.
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Agree focuses on net lease agreements, leases in which the lessee pays some or all the taxes, fees and maintenance costs associated with the property, in addition to rent. Agree specializes free-standing net leases for major national tenants, including Walmart Inc WMT, Dollar General Corp. DG and TJX Companies Inc TJX.
ESG Commitment: In the new report, Agree said its retail partners are committed to reducing their carbon footprints in coming years. For example, Walgreens Boots Alliance Inc WBA is aiming to eliminate 100% of its emissions by 2030. Best Buy Co Inc BBY is hoping to cut its emissions by 75% in that same time.
On the social responsibility front, the Agree Wellness program addresses both health and financial wellness for all the company’s employees. The Agree Culture Committee hosts events focused on team building and community service.
Finally, the Agree board of directors has adopted a Code of Business Conduct and Ethics and Corporate Governance Guidelines. All company directors, officers and team members must certify their compliance with the code on an annual basis.
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