COPT Publishes 2020 ESG Report
Summarizes Results from 6th Consecutive GRESB Assessment
COLUMBIA, Md.--(BUSINESS WIRE)-- Corporate Office Properties Trust (“COPT” or the Company) (NYSE: OFC) has posted its 2020 Corporate Sustainability Report (the “2020 ESG Report”) in the ‘Latest Updates’ and ‘Sustainability’ sections of COPT’s Investors website: https://investors.copt.com/. COPT’s 2020 ESG Report outlines the Company’s dedication to providing transparency in environmental, social and governance practices that constitute its corporate sustainability platform.
Included in the 2020 ESG Report are selected highlights from the 2020 Global Real Estate Sustainability Benchmark (“GRESB”) assessment where COPT earned its 6th consecutive Green Star rating. The GRESB annual assessment is the global real estate industry’s most rigorous assessment of sustainability performance and COPT scored highly in the assessment’s three components: Management, Performance, and Development.
About GRESB
GRESB’s mission is to assess and benchmark the ESG and other related performance of real assets, providing standardized and validated data to the capital markets. The GRESB Real Estate Assessment is an investor-driven global ESG benchmark and reporting framework for listed property companies, private property funds, developers and investors that invest directly in real estate. It is shaped by what investors and the industry consider to be material issues in the sustainability performance of real estate investments. Its methodology is consistent across different regions, investment vehicles and property types and aligns with international reporting frameworks, such as GRI. Please refer to https://gresb.com/ for additional information.
About COPT
COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing what it believes are growing, durable, priority missions (“Defense/IT Locations”). The Company also owns a portfolio of office properties located in select urban/urban-like submarkets in the Greater Washington, DC/Baltimore region with durable Class-A office fundamentals and characteristics (“Regional Office Properties”). As of December 31, 2020, the Company derived 87% of its core portfolio annualized rental revenue from Defense/IT Locations and 13% from its Regional Office Properties. As of the same date and including 17 properties owned through unconsolidated joint ventures, COPT’s core portfolio of 179 office and data center shell properties encompassed 20.8 million square feet and was 95.0% leased; the Company also owned one wholesale data center with a critical load of 19.25 megawatts that was 86.7% leased.
Forward-Looking Information
This press release may contain “forward-looking” statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company’s current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “could,” “believe,” “anticipate,” “expect,” “estimate,” “plan” or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Although the Company believes that the expectations, estimates and projections reflected in such forward-looking statements are based on reasonable assumptions at the time made, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements and the Company undertakes no obligation to update or supplement any forward-looking statements.
The areas of risk that may affect these expectations, estimates and projections include, but are not limited to, those risks described in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Source: Corporate Office Properties Trust
View source version on businesswire.com: https://www.businesswire.com/news/home/20210222005130/en/
IR Contacts:
Stephanie Krewson-Kelly
443-285-5453
stephanie.kelly@copt.com
Michelle Layne
443-285-5452
michelle.layne@copt.com
Source: Corporate Office Properties Trust
Released February 22, 2021