Forest City Publishes 2013 Corporate Social Responsibility Report, Including Water Usage
Forest City Enterprises, Inc., (NYSE: FCEA and FCEB) today announced the release of its 2013 Corporate Social Responsibility (CSR) report, which details the company’s environmental, social and economic performance and governance strategy.
The 2013 report highlights several new programs and processes established to improve the overall CSR performance of Forest City’s real estate operations, new developments and managed portfolio. Highlights include reporting water usage data for the first time, instituting an associate wellness program and reducing energy usage companywide by 5.7 percent. The company also recognized eight of its property teams through an internal awards program for achievements in sustained excellence and best practices in energy.
“These and other accomplishments are a testament to the hard work of our associates and their commitment to our core values and strategic plan,” said David J. LaRue, Forest City president and chief executive officer. “This report documents how CSR creates value for Forest City and for our communities, partners, and investors.”
To support property teams and aid in the implementation of new CSR programs and processes, Forest City formed a cross-departmental Integrative Design Services (IDS) group in 2013, which combines expertise from three groups: Energy and Sustainability, Building Technology Services, and Architectural Design. IDS focuses on incorporating efficient technologies into both new development and mature properties, establishing and monitoring performance standards, integrating renewable energy sources into the portfolio, and reporting results of CSR efforts to internal and external stakeholders.
The report also details Forest City’s commitment to its associates and the communities in which it operates. Forest City was named one of DiversityInc magazine’s 25 Noteworthy Companies in 2013 for significant progress in diversity management. The company also hosted its 10th annual Community Day, during which 1,100 associates contributed 7,163 hours of service to 57 different non-profit organizations in locations around the country.
Added LaRue, “I want our associates to be proud that we focus on CSR as part of our vision to be the partner-of-choice in creating distinctive places to live, work and shop, and of our commitment to engage our communities to make them healthier and stronger.”
Forest City’s first CSR report, issued last year and detailing achievements and metrics for 2012, helped drive improvement in Forest City’s MSCI Intangible Value Assessment rating by two levels, from BB to A, in a single review period.
About Forest City
Forest City Enterprises, Inc. is an NYSE-listed national real estate company with $8.6 billion in total assets. The company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate throughout the United States. For more information, visit www.forestcity.net.