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AvalonBay Shareholders Show Strong Support For Sustainability Reporting

NEW YORK May 23, 2012

Ahmer Qadeer

While the proposal for "greener" reporting was not initiated by 32BJ SEIU, the union wrote and called shareholders urging them to vote for the proposal. 32BJ asked investors to require AvalonBay to compile an environmental sustainability report based on Global Reporting Initiative standards, and to ensure that AvalonBay takes further steps to protect shareholder value by adhering to a critical set of standards for reporting to investors on the social and environmental impacts of its business. 

the United States

There is a growing body of evidence suggesting that the interests of efficient and sustainable management are well-aligned with increasing shareholder value. For example, a 2008 Incisive Media survey found that, "Nearly 65 percent of building owners who have implemented green building measures say their investments have already resulted in a positive return." Additionally, 84 percent of the green building owners who responded to Turner Construction Company’s "Green Building Barometer" indicated that their "green buildings have resulted in lower energy costs, with 68 percent reporting lower overall operating costs."

New York City

www.troublingdevelopments.org

SOURCE SEIU Local 32BJ

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