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AvalonBay Communities is a publicly listed company headquartered in Arlington, Virginia, United States. AvalonBay operates as a real estate investment trust (REIT) and its primary activity is managing multifamily apartment communities in the US. The company owns or holds ownership interest in 83,655 apartment homes across 12 US states.
Summary
AvalonBay Communities demonstrates clear progress on key urban sustainability topics, although it has many opportunities to improve its performance. The company engages local governments as part of its stakeholder process, alongside investors, suppliers, and local communities. With regard to affordability, the company integrates mixed-income housing into its developments, benefitting over 8,700 residents. It also reports consistent growth in designated affordable homes. Further, the company has set a target to reduce landfill waste by 20% by 2023. It also has insurance against natural disasters and an emergency action plan, ensuring preparedness and risk mitigation for its communities and assets.
However, the company should take further steps to promote human rights. It should establish a clear process for identifying human rights risks and impacts at specific locations or in activities carried out through its business relationships. Additionally, while it discloses grievance mechanisms for employees, it should expand and report on mechanisms accessible to all stakeholders for raising bribery and corruption concerns without fear of retaliation. Enhancing its efforts in these areas will enable the company to strengthen transparency and accountability in its operations.
Ranking position
#12
/300
Total score
29.7
/100
Measurement area
Score
Rank (0-300)
Measurement area
Governance & Strategy
Score
# 1
32.5
/100
Rank (0-300)
#8
Measurement area
Inclusive Cities
Score
# 1
37.5
/100
Rank (0-300)
#28
Measurement area
Healthy Cities
Score
# 1
20.6
/100
Rank (0-300)
#20
Measurement area
Climate Proof & Resilient Cities
Score
# 1
35.8
/100
Rank (0-300)
#6
Measurement area
Core Social Indicators
Score
# 1
22.2
/100
Rank (0-300)
#88
Industries
Industries
Real estate
#3
More about the company
Headquarters
United States of America
Ownership structure
Public
Revenue
USD 2,593 billion (2022)
Number of employees
2947 (2022)
Website
https://www.avaloncommunities.com/
63716
