AvalonBay Communities

AvalonBay Communities, Inc. is an equity REIT in the business of developing, redeveloping, acquiring and managing multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California. As of June 30, 2023, the Company owned or held a direct or indirect ownership interest in 294 apartment communities containing 88,659 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment.

AvalonBay Communities is committed to reducing carbon emissions through two approved Science-Based Targets, the first for a 53% reduction in Scope 1 & 2 emissions and the second for a 47% reduction in Scope 3 emissions, both by 2030. Their GHG emissions reduction program is divided between strategies for existing buildings and new developments but central to both is the implementation of onsite renewables and energy efficiency improvements. Given that an overwhelming portion of their emissions are driven by resident utility consumption, in-unit efficiency improvements and resident engagement will be key to their success.

They focus on leading metropolitan areas in these regions that they believe are characterized by growing employment in high wage sectors of the economy, lower housing affordability and a diverse and vibrant quality of life. They believe these market characteristics offer the opportunity for superior risk-adjusted returns on apartment community investment relative to other markets that do not have these characteristics.

To achieve these outcomes, AvalonBay is prioritizing the collective action of the entire organization.

PORTFOLIO-WIDE LEADERSHIP COMMITMENTS

53% GHG reduction in 10 years

Presentation

Digging Deeper: Embodied Carbon in Commercial Buildings

Solutions

Leadership Commitments

Better Climate Challenge

Goal

Commitment