Dream 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.
(1) Includes Scope 1 and Scope 2 emissions.
(2) Represents utility accounts under DRR.U’s operational control.
(3) For the purposes of this Report, executives includes the CEO, CFO and COO of DRR.U.
(4) Based on DRR.U employees of Pauls Corp.
(5) Based on pre-IPO Corporate ESG Assessment Copyright ©2023 Sustainalytics. All rights reserved. This report contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third-party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers.
(6) As at December 31, 2022.
|Energy Consumption (ekWh)(3)||3,477,297|
|Water Consumption (m³)||371,888|
|Scope 1 Emissions (tCO2e)||399|
|Scope 2 Emissions (tCO2e)||515|
|Total GHG Emissions (Scope 1 and Scope 2 tCO2e)||914|
|Scope 3 Emissions (tCO2e)||196|
(1) Covers data since DRR.U’s incorporation in May 2022.
(2) DRR.U is currently collecting data for energy, GHG emissions, and water.
(3) Energy consumption reflects energy consumed within organizational control. Please refer to Supplementary Disclosures section for additional details, including data coverage.
(4) GHG emissions are calculated in accordance with the World Resource Institute Greenhouse Gas Protocol. Calculations in this table capture activities DRR.U 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, heating, cooling, and steam consumed by properties. Scope 3 emissions reported are associated with category 13 (downstream leased assets).
(5) Please refer to Supplementary Disclosures section for more information.
(6) As at December 31, 2022.
As an owner and property manager, Dream Residential integrates sustainability into the design and operations of all its buildings and communities. Dream Residential is executing impactful capital planning initiatives that improve both the environmental footprint and the tenant experience in its buildings.
Dream Residential is working to achieve energy efficiency and reduce GHG emissions through capital investments.
In 2022, Dream Residential conducted energy audits across all communities. The energy audits estimated and benchmarked baseline energy and water consumption and analyzed dozens of potential projects, including identifying water and LED lighting retrofit projects lead to significant energy and water savings. Based on the results of these audits, Dream Residential is investing in energy efficient capital upgrades in 2023 to improve the performance of its assets. The energy audits will also inform Dream Residential’s path toward meeting its net zero commitments. In 2022, Dream Residential conducted ASHRAE Level 1 energy audits across all communities.
Dream Residential has established a robust strategy to collect, monitor and track energy, Scope 1 and Scope 2 GHG emissions. Utility invoices are collected and processed through a data analytics software. The comprehensive data set is collected in accordance with the World Resource Institute’s GHG Protocol standard. Dream Residential collects and discloses information in an alignment with an internal controls framework that standardizes the collection, measurement, and review of ESG data across the portfolio.
(1) As at March 2023. Copyright ©2023 Sustainalytics. All rights reserved. This report contains information developed by Sustainalytics (www. sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third-party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www. sustainalytics.com/legal-disclaimers.
Dream Residential has a US-based human resources team to help support and grow its team during its first year of operation. This team is responsible for employee engagement, professional development, and ensuring that employees feel supported and engaged in their roles.
(1) Based on DRR.U employees of Pauls Corp.
(2) For the purposes of this report, Executives include: the Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer of DRR.U.
As part of the ESG Framework, Dream Residential links ESG considerations to executive goals and compensation.
Board of Trustees
The DRR.U board is responsible for the oversight of ESG matters and has delegated such oversight to the Governance, Compensation and Environmental Committee
Governance, Compensation and Environmental Committee
Oversee approach to environmental, social, governance and impact investing matters
Chief Executive Officer
Provide oversight of sustainability and ESG
ESG Executive Committee
(Members of the Executive Leadership team from each Dream entity)
Adopt ESG Framework for DRR.U
Communicate sustainability strategy and commitment across company and key external stakeholders
Delegate implementation to Sustainability and ESG team
Reports to the Governance, Compensation and Environmental Committee
Sustainability and ESG Team
Embed sustainability strategy and commitment across company and 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 Executive Committee
Sustainability Working Group
Responsible for advancing sustainability initiatives and activities at company and property level
Works across departments to embed sustainability within operations
Discussion topics include green property operations, employee engagement, and tenant engagement
Review the 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 section 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 section.
(1) Assets under management as at June 30, 2022.
- Previous Years +
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 Conduct
Our 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 Policy
DRR 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 Policy
The 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 u0026 Advancement Commitment
DRR always invests with purpose, embracing creativity and diversity, passion and innovation, while positively impacting communities and the world.Board Diversity Policy
DRR 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.