Dream Residential Real Estate Investment Trust (TSX: DRR.U) (Dream Residential, or DRR.U) is an unincorporated, open-ended real estate investment trust.rnrnDream Residential owns and operates a portfolio of garden-style multi-residential properties primarily located in three attractive, high-growth markets across the Sunbelt and Midwest regions of the United States.
2024 Highlights
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GRESBScored 56/100 in the 2024 GRESB(1) Real Estate Assessment and Placed 2nd out of 10 in the United States of America Comparison Group in the 2024 GRESB Public Disclosure
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100%coverage rate of the 2024 resident survey
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properties had single pane windows replaced with double pane windows, contributing to improved energy efficiency
(1) All intellectual property rights to this data belong exclusively to GRESB B.V. All rights reserved. GRESB B.V. has no liability to any person (including a natural person, corporate or unincorporated body) for any losses, damages, costs, expenses, or other liabilities suffered as a result of any use of or reliance on any of the information which may be attributed to it.
ESG Scorecard
| Indicator | 2022 | 2023 | 2024 | YoY% Change |
| Energy | ||||
| Energy Consumption (GJ)(2) | 14,313(2)(3) | 27,967(3) | 28,109 | 1% |
| Water | ||||
| Water Consumption (m³) | 371,888(2) | 515,923 | 506,794 | -2% |
| GHG Emissions(4) | ||||
| Scope 1 & 2 Emissions (tCO₂e) | 1,110(2)(3) | 2,150(3) | 2,038 | -5% |
| Scope 1 & 2 Emissions Intensity (kgCO₂e/sf) | 0.36667(2)(3) | 0.70695(3) | 0.69 |
| Indicator | 2023 | 2024 |
| Woman Employees(5) | 46% | 44% |
| Indicator | 2022(6) | 2023(7) | 2024(8) |
| Women Directors | 40% | 40% | 40% |
| Independent Directors | 60% | 60% | 60% |
(1) Energy consumption and related scope 1 and scope 2 GHG emissions reflects energy consumed within organizational control and includes consumption from vacant units.
(2) Covers data from DRR’s incorporation in May 2022 to end of December 2022.
(3) Data has been restated from the 2022 and 2023 reports. Please refer to the ESG Data Book for more details.
(4) GHG emissions are calculated in accordance with the World Resource Institute Greenhouse Gas Protocol. Calculations in this table capture activities DRR has direct and indirect operational control over: Scope 1 emissions generated directly from its operations, including heating properties; Scope 2 emissions indirectly associated with generation of purchased electricity by properties. The comparative periods are not presented using the emission factors included in the updated 2025 US EPA Emissions Factor Hub, published in January 2025. As such, trends in emissions may be impacted.
(5) Based on DRR employees of Pauls Corp.
(6) Board composition as at December 31, 2022.
(7) Board composition as at December 31, 2023.
(8) Board composition as at December 31, 2024.
Sustainability and ESG-related matters at DRR.U is managed by the following(1):
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Board of Trustees
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Oversee ESG matters, with responsibility for this oversight delegated to the Governance, Compensation and Environmental Committee
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Governance, Compensation and Environmental Committee
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Oversee approach to environmental, social and governance matters
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Chief Executive Officer
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Highest-level executive with oversight over ESG matters, including sustainability and climate change, at Dream Residential
Work with the Chief Financial Officer and Chief Operating Officer to provide leadership over the sustainability strategy and oversee adoption of the ESG Framework
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ESG Executive Committee (Members of the Executive Leadership team from each Dream entity)
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Receive regular updates from the Sustainability and ESG team on behalf of all departments and the sustainability working groups
Adopt ESG Framework
Communicate sustainability strategy across the company and to key external stakeholders
Delegate implementation to Sustainability and ESG team
Report to the Governance, Compensation and Environmental Committee
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Sustainability and ESG Team
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Embed sustainability strategy across the company and with key external stakeholders
Oversee the implementation of the ESG Framework for each Dream entity
Manage portfolio sustainability initiatives including building certifications, energy, water and waste management and monitoring, as well as strategic initiatives
Meet quarterly with the ESG Operating Committee
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Sustainability Working Groups (Currently includes the Employee Engagement working group)
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Advance sustainability initiatives and activities at company level
Involve representatives from across functions, regions, and properties and reports regularly to the Sustainability and ESG team
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Investment Committee
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Review each investment’s Acquisition Checklist and approve investments that meet both financial and impact goals
Hold the project team accountable to achieve goals and create impact
(1) The responsibilities set out in this column are for illustrative purposes only, reflect certain relevant ESG matters, and do not purport to reflect the full extent of responsibilities or the full mandate of any of the board, committees or teams referred to in this chart.
Sustainability Reports
- Previous years +
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Policies
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Disclosure Policy
The objective of our disclosure policy is to ensure that communications to the investing public about DRR are timely, factual and accurate, and disseminated in accordance with all applicable legal and regulatory requirements.
Code of ConductOur Code of Conduct (the “Code) is DRR’s statement of the values and principles that guide day-to-day business activities. The keystones are: integrity, respect, fairness, accountability and transparency. The Code supports DRR’s commitment to operate the business at the highest level of legal, moral and ethical standards. The Code applies to all directors, officers and employees of Dream Residential REIT.
Whistleblower PolicyDRR is steadfast in its commitment to maintaining the highest business and personal ethical standards by dealing openly and honestly with investors, tenants, suppliers and employees. The Whistleblower Policy marries this commitment to that of securities laws and regulations with respect to accounting standards and internal control standards. DRR has contracted EthicsPoint Inc., an independent service provider, to manage any complaints or concerns on its behalf. This service reports directly to the Audit Committee of Dream Residential REIT. and is available seven (7) days a week, 365 days a year. Any concerns may be reported directly, confidentially, and, if preferred, anonymously, through www.ethicspoint.com.
Majority Voting PolicyThe Corporation has a majority voting policy, requiring that each Director nominee receive the support of a majority of the total number of votes cast by the shareholders entitled to elect such Director nominee, failing which such Director shall submit his or her resignation to the Board for consideration.
Diversity Inclusion Advancement CommitmentDRR always invests with purpose, embracing creativity and diversity, passion and innovation, while positively impacting communities and the world.
Board Diversity PolicyDRR seeks to maintain a Board comprised of talented and dedicated directors whose skills and backgrounds reflect the diverse nature of the business environment in which it operates. Accordingly, the composition of the Board is intended to reflect a diverse mix of skills, experience, knowledge and backgrounds, including an appropriate number of women directors.
Environmental PolicyThe Environmental Policy sets out Dream Residential REIT’s objectives and goals as it relates to protection of the environment. It allows us to identify products, activities and services that minimize adverse impacts on the environment and to introduce them where most effective in our business.
