AvalonBay Communities, Inc. Releases 2024 Corporate Responsibility Report
Company Reports Strong Progress on Climate Goals and Community Impact in Fourteenth Annual Corporate Responsibility Report
AVALONBAY COMMUNITIES, INC. (NYSE:AVB) (the "Company") announced the release of its fourteenth annual Corporate Responsibility Report, summarizing its environmental, social, and governance accomplishments and activities for calendar year 2024 and highlighting substantial progress towards its long-term sustainability goals.
"Our fourteenth annual Corporate Responsibility Report highlights our accomplishments in 2024 and our long-term vision for sustainable growth," said Benjamin Schall, CEO and President of AvalonBay Communities. "By advancing our climate targets, expanding renewable energy access for residents, lowering our operating costs, incorporating life cycle assessments in development, and deepening community partnerships, we're further building the foundation for decades of responsible leadership."
AvalonBay continues to be recognized as a corporate sustainability leader in the real estate industry, maintaining its "A" rating from MSCI, achieving ISS ESG "Prime" status, being named a 2024 GRESB Regional Sector Leader for Development, and being recognized as a Top Workplace by USA Today.
"What sets our 2024 performance apart is how deeply we've integrated environmental, social and governance priorities into core business processes," stated Pamela Thomas, Executive Vice President of Portfolio and Asset Management. "From incorporating climate risk into our asset strategy reviews and advancing our 1.5°C-aligned emissions targets to achieving record 55% associate volunteerism, we're proving that environmental leadership, community impact, and profitability go hand in hand."
AvalonBay's notable 2024 Corporate Responsibility achievements include:
Environmental Progress:
- Improved our year-over-year Scope 1 & 2 emissions intensity by 7.7% year-over-year and 55% from baseline 2017, due in part to increased solar installations and energy efficiency initiatives
- Adopted new 1.5°C-aligned emissions reduction targets —raising the bar from our original goal to be even more ambitious about reducing our environmental impact
- Expanded our solar program to 69 installations representing over 10 MW of capacity and activated our first resident solar project, the first of fifteen planned projects that will provide renewable electricity to residents
- Completed a portfolio-scale decarbonization assessment to identify meaningful energy retrofit projects and prioritize sustainability capex investments
- Used Life Cycle Assessments on new developments to choose construction materials with lower embodied carbon footprints
Social Impact:
- Contributed over $2.7 million to more than 290 charitable organizations, including facilitating housing for Denver Public School teachers
- Achieved record-breaking volunteerism with 55% of associates volunteering in 2024 —more than half our team giving back to strengthen local communities
- Educated residents on disaster preparedness and ways to reduce utility consumption, helping them save money while reducing environmental impact
Governance & Risk Management:
- Enhanced our climate risk disclosures for greater transparency, incorporating Task Force on Climate-related Financial Disclosures (TCFD) and California regulatory requirements
- Integrated climate considerations directly into our Asset Strategy Reviews — this means we're not just talking about sustainability; we're building it into how we make business decisions
These achievements reflect AvalonBay's core belief that long-term business success and positive community impact are intrinsically linked. The Company remains committed to making data-driven decisions, growing responsibly, and fostering collaboration across teams and partners.
About AvalonBay Communities, Inc.
AvalonBay Communities, Inc., a member of the S&P 500, is an equity REIT that develops, redevelops, acquires and manages apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado. As of March 31, 2025, the Company owned or held a direct or indirect ownership interest in 309 apartment communities containing 94,865 apartment homes in 11 states and the District of Columbia, of which 19 communities were under development. More information may be found on the Company's website at https://www.avalonbay.com. AvalonBay's current and past annual Corporate Responsibility Reports can be found here.
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Matthew Grover
Senior Director
Investor Relations
AvalonBay Communities, Inc.
703-317-4524
Kurt Conway
Senior Vice President
Corporate Strategy and Communications
AvalonBay Communities, Inc.
703-317-4611