CareTrust REIT, Inc. (NYSE: CTRE) today announced details of progress the company made toward its Environmental, Social, and Governance (ESG) initiatives in its fourth annual Corporate Sustainability report.
“The report highlights how CareTrust, through properties exclusively controlled and operated by tenants under triple-net master leases, promotes and supports sustainable practices among third-party operators by offering financial incentives for environmental projects, incorporating green lease clauses, engaging tenants on climate-related risks, and ensuring ESG regulatory compliance. Additionally, we report progress on newer priorities such as cybersecurity and employee well-being, focusing on protecting the integrity of our information and supporting the stakeholders who contribute to CareTrust’s success.
“This report stands as a testament to our commitment to accountability and transparency, emphasizing our advancements in several key areas,” said Dave Sedgwick, President and CEO of CareTrust REIT.
Key report highlights include:
- Pinpointed the top 20 most resource-intensive properties and began communication with relevant operators, offering tailored improvement solutions and supportive resources.
- Identified properties subject to emerging jurisdiction building performance standards to ensure compliance readiness.
- Successfully implemented two environmental improvement projects through our tenant incentive program in 2023.
- Increased leases with ESG requirements by 10%.
- Assessed energy reduction from LED lighting retrofits across three properties with data tracking.
- Distributed our Annual Employee Survey to ensure employee voices are heard and valued.
- Maintained investment in ongoing learning and professional development.
- Utilized a leadership tool through a reputable firm to conduct monthly wellness assessments of employees.
- Significantly boosted our charitable giving, positively impacting community programs and initiatives.
- Sustained engagement with a reputable cybersecurity firm to safeguard the confidentiality and integrity of our information.
- Formulated a portfolio Resilience Strategy to identify and manage physical climate related risks, enhancing the resilience of our properties.
- Continued alignment of our CS Report with the Global Reporting Initiative (GRI) standards, providing stakeholders with comprehensive insights into our ESG performance.
- Awarded Prime status by ISS ESG in their ESG Corporate Rating on March 21, 2024.
“By tracking, educating, and incentivizing tenants, we support sustainable and financially responsible decisions. Despite the unique constraints of the triple-net lease structure, CareTrust continues to make meaningful ESG progress," Sedgwick concluded.
This report includes our alignment with globally recognized sustainability frameworks such as the Task Force on Climate-related Financial Disclosures (TCFD) and the Global Reporting Initiative (GRI). The report and additional policies, disclosures and information about the Company’s ESG initiatives are organized in the investors section at caretrustreit.com.
About CareTrust REIT, Inc.
CareTrust REIT, Inc. is a self-administered, publicly traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States. More information about CareTrust REIT is available at www.caretrustreit.com.
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