Pledges to Reach Net-Zero Carbon Emissions by 2050
Adopts Formal Mission, Vision and Values Statements
Earns Continued Recognition from Government, Industry and Media Groups
NEWTON, Mass.–(BUSINESS WIRE)–The RMR Group (Nasdaq: RMR) today announced the publication of its annual Sustainability Report, which outlines the Environmental, Social and Governance (ESG) strategies, practices and industry recognition of RMR and its clients, including Service Properties Trust (Nasdaq: SVC), Diversified Healthcare Trust (Nasdaq: DHC), Office Properties Income Trust (Nasdaq: OPI), Industrial Logistics Properties Trust (Nasdaq: ILPT), Seven Hills Realty Trust (Nasdaq: SEVN), TravelCenters of America Inc. (Nasdaq: TA), AlerisLife Inc. (Nasdaq: ALR) and Sonesta International Hotels Corporation (Private).
RMR has also joined the Business Ambition for 1.5°C campaign to set emissions reduction targets that are consistent with keeping global warming to 1.5°C above pre-industrial levels. In alignment with this pledge, RMR has committed to a long-term target to reach net-zero emissions by no later than 2050 with a 50% reduction commitment by 2030 from a 2019 baseline. RMR will set verifiable targets through the Science Based Targets initiative (SBTi), which independently assesses corporate emissions reduction targets in line with climate science.
John Forester, Vice President, Energy and Sustainability for RMR Real Estate Services, made the following statement:
“We are proud to present our annual Sustainability Report, which highlights both important ESG accomplishments from the past year and our sustainability goals for the future. One goal is our pledge to reduce emissions in order to reach net zero by 2050, which aligns with our long-standing commitment to environmental performance and our belief that sustainability is a key component of value creation.”
RMR’s notable recognition and highlights over the past year, summarized in the 2021 Sustainability Report, include the following:
RMR and OPI earned recognition from the U.S. Environmental Protection Agency as ENERGY STAR Partners of the Year. Prior to the Sustainability Report’s publishing, RMR earned the designation for the fourth consecutive year and OPI earned the designation for the fifth consecutive year. Both RMR and OPI are recognized for their Sustained Excellence in Energy Management.
For the second time in three years, RMR earned the Institute of Real Estate Management’s (IREM) Award for Corporate Excellence in 2021.
In 2021 RMR articulated Mission, Vision and Values statements to unite all employees around a shared purpose, a common goal and collective values. More information can be found here.
In early 2022, a third cohort started RMR’s Accelerated Women in Leadership Program (AWLP), which offers a targeted learning experience to help women strengthen and leverage their unique talents so they can deepen their contribution and grow both professionally and personally. To date, 62 employees have completed this program.
For the second consecutive year, RMR was recognized as a Top Place to Work by The Boston Globe in 2021. RMR was also named a Top Place to work by GlobeSt. Real Estate Forum, a commercial real estate industry news outlet.
About The RMR Group
The RMR Group (Nasdaq: RMR) is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. RMR’s vertical integration is supported by nearly 600 real estate professionals in over 30 offices nationwide who manage more than $37 billion in assets under management and leverage 35 years of institutional experience in buying, selling, financing and operating CRE. RMR benefits from a scalable platform, a deep and experienced management team and a diversity of direct real estate strategies across its clients. RMR is headquartered in Newton, MA and was founded in 1986. For more information, please visit www.rmrgroup.com.
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Forward-looking statements can be identified by use of words such as “outlook,” “believe,” “expect,” “potential,” “will,” “may,” “estimate,” “anticipate” and derivatives or negatives of such words or similar words. Forward-looking statements in this press release are based upon present beliefs or expectations. However, forward-looking statements and their implications are not guaranteed to occur and may not occur for various reasons, including some reasons beyond The RMR Group’s control. For example:
The press release states that The RMR Group has committed to a long-term target to reach net-zero emissions by no later than 2050 with a 50% reduction commitment by 2030 from a 2019 baseline. However there can be no assurances that The RMR Group will meet this long-term target.
Mr. Forester states that The RMR Group’s goal is to reduce emissions in order to reach net zero by 2050, that this goal aligns with The RMR Group’s commitment to environmental performance and that The RMR Group believes that sustainability is a key component of value creation. These statements may imply that The RMR Group will successfully reduce emissions to net zero by 2050 while continuing to create value for its shareholders. However, The RMR Group may not meet its emissions reduction target, and The RMR Group’s and its clients’ businesses are subject to various risks, including risks outside its and their control that could impact its and its clients’ businesses and operating and financial results.
The information contained in The RMR Group’s filings with the SEC, including under the caption “Risk Factors” in The RMR Group’s periodic reports, or incorporated therein, identifies important factors that could cause differences from the forward-looking statements in this press release. The RMR Group’s filings with the SEC are available on its website and at www.sec.gov.
You should not place undue reliance on forward-looking statements.
Except as required by law, The RMR Group undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
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Senior Director, Marketing & Corporate Communications