Sustainability and environmental responsibilities
Since 2006, First Capital has engaged in several sustainability initiatives, starting with its commitment to develop all properties using Leadership in Energy and Environmental Design (LEED) standards.[11]
In 2020, First Capital released its 2020-2024 Environmental, Social, and Governance (ESG) Roadmap, and Sustainability Policy, outlining current and future sustainability plans.[12]
In 2020, FCR received a 4-star ranking by the Global Real Estate Sustainability Benchmark (GRESB), was awarded Silver 2020 Green Lease Leader Recognition by the Institute for Market Transformation (IMT) and the U.S. Department of Energy's Better Building Alliance. First Capital also received Prime Status for Corporate ESG Performance by the Institutional Shareholder Services[13]
In 2021, FCR has achieved a 'AAA' rating in the Morgan Stanley Capital International (MSCI) ESG Ratings assessment for the third year in a row, a 4-star ranking by the Global Real Estate Sustainability Benchmark (GRESB) in 2020, awarded Silver 2020 Green Lease Leader Recognition by the Institute for Market Transformation (IMT) and the U.S. Department of Energy's Better Building Alliance, and received Prime Status for Corporate ESG Performance by the Institutional Shareholder Services 2020.[14]
In 2022, First Capital was once again named one of Canada's Top Small and Medium Employers. FCR was the first Canadian retail REIT to be a signatory in support of the Task Force on Climate-Related Financial Disclosures and received validation from the Science Based Targets Initiative (SBTi) for their 2030 GHG reduction target of 46%.[15]
In 2023, FCR implemented more than 300 electric vehicle charging stations and over 1,100 bike racks across their portfolio. First Capital was listed as a top 30 Canadian company in Sustainaltyics ‘Road to Net Zero’ Ranking. The FCR Thriving Neighbourhoods Foundation also raised over $925,000 in contributions for charities and non-profits across Canada since its launch in 2020.[16]
