Rexford Industrial Releases Annual ESG Report
Substantial Environmental, Community and Stakeholder Value Creation Driven by ESG Commitment
LOS ANGELES, April 28, 2021 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties located in Southern California infill markets, today announced the Company published its 2020 Environmental, Social and Governance ("ESG") Report.
"Rexford is proud to issue our annual ESG report demonstrating the best-in-class environmental, social and governance impacts integral to our business purpose and values," stated Michael Frankel and Howard Schwimmer, Co-Chief Executive Officers of the Company. "Our highly-focused business strategy cultivates deep collaboration made great by the diversity and quality of our team. Rexford's differentiated business model drives value creation by repositioning, recycling and renovating industrial buildings, substantially enhancing functionality and reducing the carbon footprint of our assets, which generates game-changing community health and welfare benefits. Whereas some companies recycle paper, we recycle buildings and rejuvenate communities! As we progress forward, our opportunity to achieve positive impact is massive as our target infill Southern California market is larger than the vast majority of countries, comprising nearly two billion square feet of predominately vintage industrial property replete with opportunities to deliver extraordinary environmental, social and related stakeholder benefits."
Key 2020 ESG Report highlights include these positive Rexford impacts:
- Dramatic environmental, social and community benefits produced through our property-level work and recycling of industrial buildings which reduced demolition and landfill disposal by 152,000 tons, generated embodied carbon savings of 22,000 metric tons, plus energy efficiency improvements that diminished carbon emissions equivalent to removing 25,000 cars from our roads.
- Community transformation by converting under-utilized, blighted or unsafe urban, infill properties into modern, highly functional industrial buildings, breathing new life into communities by enabling high quality jobs, generating incremental tax revenues and improving employee and neighborhood health and productivity.
- Over two billion dollars of net present value ("NPV") creation resulting from our environmental and social impacts, quantified through a unique cost-benefit analyses, further validating the significant positive impact of our strategic focus.
- An internal human capital focus and culture defined by mutual respect where the development and diversity of our people are prioritized as the greatest determinants of our future success.
- Exciting goals and opportunities as we move forward to amplify the results of our ESG priorities in areas of climate change, environmental impact, community impact and engagement, diversity and inclusion, governance and ethics.
The full report can be found under the ESG section of the Company's website at https://www.rexfordindustrial.com/ESG.
About Rexford Industrial
Rexford Industrial, a real estate investment trust focused on creating value by investing in and operating industrial properties throughout Southern California infill markets, owns 259 properties with approximately 32.2 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.
For additional information, visit www.rexfordindustrial.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and the Current Report on Form 8-K filed with the SEC on or about the date of this press release. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
Contact:
Investor Relations
Kosta Karmaniolas
310-691-5475
[email protected]
SOURCE Rexford Industrial Realty, Inc.
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