HOUSTON, Nov. 10, 2022 (GLOBE NEWSWIRE) — Whitestone REIT (NYSE:WSR) (“Whitestone” or the “Company”) today announced its second Environmental, Released Social, Governance (ESG) Report. and initiative. Whitestone has aligned the 2022 ESG Report with the Sustainability Accounting Standards Board (SASB) industry standards and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
“We are proud to share Whitestone’s second report on environmental, social and governance priorities and progress. It demonstrates our commitment to our tenants, employees and communities,” said the Chief Executive Officer. author David Holeman said. “We understand that managing ESG responsibilities is critical to creating and sustaining long-term value.”
Major report highlights
- Formal board oversight of ESG and climate risk-related matters
- Added highly talented and diverse new board members and increased female representation to 33%
- Strengthening corporate governance (separation of the roles of CEO and chairman, termination of shareholder rights plan, and revision of bylaws to strengthen shareholder rights)
- Implemented new Diversity, Equity and Inclusion (DEI) Policy, Environmental Policy and Enhanced Human Rights Policy
- Implement a third-party ESG and sustainability data management platform
- Submitted initial GRESB property valuation, provided a baseline of Whitestone’s ESG performance, benchmarked against peers, and identified targets for future improvement
The 2022 ESG Report is available on our website.
About Whitestone REIT
Whitestone REIT (NYSE: WSR) is a community-focused real estate investment trust (REIT) with investments in Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio.
Our center focuses on convenience. There is a mix of service-oriented tenants providing food (restaurants and grocery stores), self-care (health and fitness), services (finance and logistics), education and entertainment to the surrounding community. The company believes strong community ties and deep tenant relationships are key to the success of its current center and acquisition strategy. For more information, please visit www.whitestonereit.com.
Certain statements contained in this press release are governed by Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company intends that all such forward-looking statements are covered by the safe harbor provisions regarding forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, as applicable. increase. Such information is subject to certain risks and uncertainties, as well as known and unknown risks, that could cause actual results to differ materially from those projected or projected. Accordingly, such statements are not guarantees of future performance. Such forward-looking statements include statements regarding our earnings guidance, future liquidity, operating can be identified by our use of forward-looking terms such as “is,” “is,” and “is.” “expect,” “intend,” “predict,” “believe,” “continue,” “goal,” or similar words that predict future events or trends and are historical only It is not related to The following are additional factors that may cause the company’s actual results and expectations thereof to differ materially from those set forth in the company’s forward-looking statements. The COVID-19 pandemic and actions taken or considered by U.S. and local government authorities or others against our businesses, employees and tenants in response to the pandemic. In particular: (a) changes in tenant demand for our properties; and (b) financial challenges facing key tenants. This includes some of our tenants’ businesses as a result of reduced customer motivation to stay and mandatory stay orders that have prevented customer loyalty, and the impact these issues have on our business. Includes impact. Ability to collect rent from tenants. (c) operational changes implemented by the company, including remote work arrangements, that may increase the strain on IT systems and increase vulnerability to cybersecurity incidents; (d) under revolving credit; (e) prolonged measures to contain the spread of COVID-19 or fluctuating government restrictions implemented to contain the spread of COVID-19- 19; adverse economic or real estate developments or conditions, particularly in Texas or Arizona, Houston or Phoenix; This includes and may result from the resurgence of his COVID-19 cases in such areas, and the impact on tenants’ ability to pay rent. Adjustments to bad debt reserves or fixed rent reserves. Federal Income Tax Imposition if You Fail to Qualify as a Real Estate Investment Trust (“REIT”) in the tax year or if you miss the opportunity to secure REIT status. our ability to meet our long-term objectives, including our ability to effectively execute our acquisition and disposal strategies, our ability to continue our development pipeline on schedule and at expected costs, and our ability to grow NOI as expected; subject to a number of factors, including, among others, our ability to continue to renew leases or re-let space on attractive terms, and our ability to deal with lease rollovers; the impact of such acquisitions, including our ability to fund and complete and the progress of financing, capitalization rates and internal rates of return; our ability to reduce or effectively manage our general and administrative expenses; our ability to raise funds from cash flows or other distributions to stockholders at current rates or at all; Adverse current market and economic conditions, including but not limited to significant volatility and disruption in global financial markets caused by the COVID-19 pandemic. End of lease or lease default. the impact of competition on our efforts to renew existing leases; changes in economic and other conditions in the particular markets in which we operate; Economic, legislative and regulatory changes, including changes in laws governing REITs and the impact of legislation commonly known as the Tax Cuts and Jobs Act. the success of our real estate strategy and investment objectives; our ability to continue to qualify as a REIT under the Internal Revenue Code of 1986, as amended; and other factors detailed in our most recent annual report on Form 10-K, our quarterly report on Form 10-Q and other documents that we file with the Securities and Exchange Commission from time to time.