ENVIRONMENTAL PERFORMANCE
Gables develops comprehensive strategies to enhance our environmental performance and ensure compliance with local regulations. With 2030 targets for energy, emissions, water and waste, Gables undergoes rigorous data tracking and performance evaluation to make strategic advancements toward our established goals.
Energy Water
Goal: 20% reduction in portfolio-wide energy usage by 2030 compared to 2019 baseline.
Energy reduction efforts reduce operating expenses, positively impacting our bottom line. In 2024, Gables energy reduction compared to baseline was -8.27%. We continue to invest in energy efficiency projects that offer attractive returns on investment (ROI) and enhance value creation, and we utilize monthly operational reporting to identify and act on changes in consumption as they occur.
Goal: 10% reduction in portfolio-wide water consumption by 2030 compared to 2019 baseline.
Reducing water usage helps reduce our residents’ utility bills and reduces our operating costs for common area water usage. Portfolio water consumption increased 1.51% due to higher usage and irrigation system issues. In 2024, remote water audits were conducted by a third-party consultant for all properties in the portfolio. The audits produced asset-level recommendations for measures to increase water efficiency. These recommendations are being used to create one- and five-year capital budgets for implementing water efficiency projects. Gables is also working on projects to increase leak detection solutions across our portfolio.
GHG Emissions
Goal: 20% reduction in portfolio-wide greenhouse gas (GHG) by 2030 compared to 2019 baseline.
Gables portfolio’s performance reduced GHG emissions by 14.72% from baseline, ahead of the annual cumulative reductions needed to meet our goal by 2030 for scope 1 and 2 emissions from common area energy usage. These results are attributed to our energy performance and “greening of the grid,” meaning that the electricity produced is lower in emissions and becoming cleaner in most Gables regions.
Waste
Goal: 10% increase in the apartment-homelevel recycling rate by 2030 compared to 2019 baseline.
Gables measures recycling performance based on pounds of recycled material per apartment home, per year. In 2024, recycling collections increased 7.89% compared to baseline and were ahead of the annual target. Gables’ efforts to increase the diversion of materials from landfills and reduce contamination through resident engagement and education are a continued focus.
The water and waste data represent whole site, including landlord-controlled and tenantcontrolled areas. The performance data is collected by a third-party consultant and undergoes third-party assurance. Gables is not responsible for errors and omissions.