Environmental

At Avanath, we believe that our environment is the foundation upon which health, safety, and overall well being is built. We are committed to environmental stewardship, and we continually assess our impact at each of our properties. We have set data-driven goals and implemented policies, procedures, and upgrades to reduce our emissions and operating costs.

The objectives below are designed to drive value through reducing emissions and operating costs, mitigate risk-exposure for climate events, and provide healthy and safe environments for our residents.

our environment

Goals and Objectives

Reducing

Energy and water consumption
Greenhouse gas emissions (GHG)
Use of fossil fuels

Increasing

Waste diversion
Water efficiency
Renewable energy access and green energy procurement

Performing

Energy audits or technical assessments
Electrification upgrades and retrofits
Solar installation and expanded feasibility assessments across the portfolio

Tracking

Energy, GHG, water, and waste data
Outcomes of ongoing conservation measures

Obtaining

Higher average ENERGY STAR® scores
Third-party green building certification

Our Approach

Environmental responsibility starts with having high quality data and strong data management. Avanath is monitoring energy, water, and waste information for each property and using it to critically assess that property’s environmental performance and evaluate opportunities for improvement. Our data is collected through ENERGY STAR® Portfolio Manager®, an industry-standard tool for benchmarking and monitoring consumption and we have used it to set reduction targets like the ones highlighted below.

SETS ENVIRONMENTAL GOALS DRIVEN BY DATA

GHG Emission Reduction

Completing a GHG inventory to include Scope 1, 2 and 3 emissions
Developing and administering an energy conservation measure survey across the 90+ Avanath multifamily properties

aerial view of residential building, surrounding streets, and hills in background, taken on a sunny day

AVANATH HAS SET TARGETS TO REDUCE PORTFOLIO-WIDE GHG EMISSIONS 50% BY 2030 & NET ZERO BY 2050

Energy Management

Avanath is actively working to reduce energy usage and associated costs by monitoring consumption, utilizing efficient equipment, and incorporating energy management best practices. We actively monitor energy efficiency at each of our properties to reduce energy usage and identify property-specific opportunities for improvement. Our tactics to reduce our impact include:

Partnering with ENERGY STAR® to install ENERGY STAR certified appliances at our properties
Retrofitting properties with LED lighting
Requiring all third-party energy supply to be produced from green sources

sidewalk view of residential building, stairs leading to building, surrounding landscaping, photo taken on a sunny day

HAS DECREASED TOTAL PORTFOLIO-WIDE ENERGY CONSUMPTION

Water Conservation

Avanath continually seeks to optimize water efficiency across our portfolio. We do this by monitoring usage and implementing cost-effective water strategies, fixtures, and technologies. Our tactics to reduce our impact include:

Installing drip-smart irrigation or planting drought-resistant vegetation
Installing aerators, low-flow toilets, and shower heads at select properties

drip smart suspended hoses, water trickling down from hoses onto manicured lawn

Has implemented efficiencies to decrease portfolio-wide water consumption

Waste Diversion

Avanath is dedicated to reducing our communities’ waste through waste management strategies that improve our diversion rate. Our tactics to reduce our impact include:

Utilizing Yardi to track our waste data and progress
Educating and building resident awareness around waste tracking and reduction
Utilizing recycling opportunities and encouraging residents to do the same
Requiring measurable landfill weight contributions for all trash contracts with private vendors
Signed a national contract with waste management to track our contributions to the landfill

Healthy Buildings

The health of our residents and employees can be affected by the places they live and work. We are dedicated to delivering buildings that are safe and promote wellness for everyone within them. This includes restricting the use of products known to be harmful to human health and routinely testing the environmental quality within our buildings. Our tactics include:

Performing regular indoor air quality tests
Monitoring water quality
Using paints and finishes in our buildings with low or no volatile organic compounds (VOCs)
Achieving WELL certification

Certifications

As a leader in the multifamily and affordable housing industry, Avanath is building a best-in-class environmental, social, and governance (ESG) framework to share with our peers. We will demonstrate the success of our progress by setting and achieving high quality goals and earning rigorous, best-in-industry certifications.

STRIVES TO EARN ENERGY STAR® PARTNER OF THE YEAR AWARD BY 2023

Our Targets

50%

Reduction in Greenhouse Gas Emissions by 2030

Net Zero

Reduction in Greenhouse Gas Emissions by 2050

ACHIEVED

10%

Less Energy Consumption by 2025

See updated data in our Demonstrating Progress section below.

ACHIEVED

10%

Less Water Consumption by 2025

See updated data in our Demonstrating Progress section below.

We are in progress of gathering our consumption data and will post year-over-year progress toward our targets.

Demonstrating Progress Click the icons below to learn about successful projects!

2024 GHG, Energy, and Water Consumption Data

39,310 Metric Tons CO2e* in 2024
178,887 MWh**Total Energy Consumption in 2024
32917 gallons/bedroom** Total Water Consumption in 2024

ENERGY STAR® Certifications and Partnership

Avanath’s average ENERGY STAR Rating, based on those certified across our portfolio, is 81.

Focusing on Carbon Reduction

We are in the process of implementing a comprehensive carbon strategy to support carbon reduction targets. We compute an annual GHG inventory that includes scope 1, 2 and 3 emissions and use this data to identify reduction opportunities. The Avanath Carbon Strategy uses the 1.5°C CRREM GHG and energy pathways as our benchmark.

Utilizing Solar Technologies

Avanath is well underway in implementing solar energy photovoltaic energy systems across 28 properties in California through SOMA and in partnership with Sunrun.

Fund Level Data Coverage

Data is the basis for progress at Avanath, as well as an imperative part of GRESB Reporting. Understanding utility consumption at our properties allows us to strategically implement conservation measures.

Data coverage
% of Fun by Sq. Ft.

	Renaissance	Fund III	Fund IV
Energy	91%	77%	97%
Water	100%	97%	100%
Waste	74%	86%	74%

Prefabricating Efficiency

Avanath has sought a partnership with Vessel Technologies to purchase prefabricated, affordable housing in Connecticut that incorporates efficiency and environmental stewardship into its foundation. We are looking forward to expanding our engagement to similar technologies across the U.S. to make affordable housing both community- and planet-serving.

Expanding Our Community Gardens

Many of our newer communities maintain a community garden on the property. We plan to roll out more community gardens across our portfolio, as well as promote composting programs where applicable.

Bee Inspired

We began a pilot program to install bee colonies at our properties to help combat the decreasing bee population. Through our partnership with Alvéole, we will be able to track each colony’s biodiversity and measure the health of the bees, while engaging residents in making a positive impact on the environment.

* Emissions are direct (scope 1) and indirect (scope 2 and scope 3 emissions from resident energy use) and include carbon dioxide, nitrogen oxides (NOx), and methane. Data includes both actual and estimated emissions for our operations.

**Intensity metrics are based on the total bedroom count of owned properties across Avanath’s portfolio in 2024.

Our Strategic Environmental Partners

Learn more about our policies and programs on the ESG Overview, Environmental, Social, Governance, and ESG Policies pages.