GOVERNANCE
INTRODUCTION
ESG STRATEGY
ENVIRONMENTAL
SOCIAL
APPENDICES
Board & Management Oversight of ESG As ESG is a critical part of our business strategy, our entire board has responsibility for ESG oversight. Recognizing the significance, attention and focus that ESG strategy requires, our board has delegated specific ESG responsibilities to each of its committees as specified in the Committee Charters:
GOVERNING BODY
SUSTAINABILITY-RELATED RESPONSIBILITIES
2021 SUSTAINABILITY-RELATED DISCUSSIONS
Board
While the Nominating and Corporate Governance Committee makes recommendations with respect to ESG matters, the board has ultimate decision- making authority. ESG matters that may arise from other committees are also referred to the full board as appropriate. As part of its oversight of the company’s Enterprise Risk Management (ERM) program, the committee reviews and discusses the company’s risks and mitigants related to ESG, including environmental risks like climate change. The committee is responsible for overseeing the company’s strategies and policies related to human capital management, including with respect to matters such as DE&I, workplace environment and culture, pay equity, and talent attraction and retention. The committee considers ESG opportunities and strategy in reviewing and analyzing significant transactions and financings.
Presentations by SVP, Director of Energy, Sustainability and ESG on topics such as Local Law 97, ESB 2.0, ESG disclosure frameworks and climate risk disclosure rulemaking and social matters such as DE&I and talent management.
Audit Committee
Regular discussions regarding ESG risks with internal audit consultant and management and presentation on cybersecurity risks and tabletop exercise with external consultant.
Compensation and Human Capital Committee
Regular discussions regarding human capital management, talent attraction and retention and compensation.
Finance Committee
Regular discussions regarding review of economic implications of environmental risk and potential for enhancements to energy efficiency and indoor environmental quality within portfolio and in acquisition targets. Presentations by SVP, Director of Energy, Sustainability and ESG and Chief Talent Officer on topics such as ESG certifications and ratings, employee engagement, community outreach and sustainability report.
Nominating and Corporate Governance Committee
The committee is responsible for considering social responsibility, environmental and sustainability matters, and making recommendations to the board regarding such matters.
Our comprehensive, top-down approach to ESG is supported by the employee-led Sustainability Committee, led by our SVP, Director of Energy, Sustainability and ESG, and executed by the property management teams across our portfolio. The Sustainability Committee meets quarterly, and the standing members include our Chairman, President and CEO, CFO, Director of Leasing, property construction and operating executives and members of the legal, marketing and investor relations teams. The committee’s agenda has evolved over time to reflect our company’s proactive leadership and commitment to results.
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