UDR ESG — Elevated Excellence
- Committed $20 million to ESG and Climate Technology Funds including funds led by Fifth Wall and co-lead investment in the first closing of the ESG Innovation-Focused “Housing Impact Fund” launched by RET Ventures.
- Utilized smart building technology across our portfolio, which helped reduce annual common area energy consumption. Our communities with smart building technology used an average of 8% less common area energy in 2022 when compared to pre-installation baselines.
- Through demand response program participation, we reduced our electricity demand during high use periods by over 8,500 kW over the past five years.
- Utilized on-site solar generation that has generated a cumulative 3.9 million kWh of renewable energy since 2019. We continue to assess opportunities for additional onsite renewable energy technology.
- Retired (i.e., claimed the environmental attributes of) Green-e certified renewable energy certificates ("RECs") representing 31,931,000 kWh of energy usage in 2022 reducing the Company's aggregate carbon footprint. This is equivalent to preventing the GHG emissions associated with powering 2,600 homes annually.
- Obtained sustainable certifications for 4 additional communities, bringing the total of all sustainable certified communities to 29 (representing 9,045 apartment homes and over 15% of our portfolio).
- Reduced our potable water consumption by over 92 million gallons since 2019 by using reclaimed and recycled water for irrigation.
- Implemented leak detection technology at 96% of homes in our portfolio as part of the SmartHome packages and utilized submetering technology on over 28,000 water meters in leased spaces to detect and mitigate leaks.
- Distributed more than 149,000 environmental related communications in 2022 as part of our portfolio-wide resident sustainability campaign.
- Continued to increase monitoring, resident education, and optimization of our waste programs which helped our total metric tonnage of recycling capacity increase by nearly 35% in 2022 compared to 2021.
- Maintained over 320 electric vehicle (“EV”) car-charging ports throughout our portfolio in addition to charging ports at our corporate office. We continue to invest in EV car-charging stations and intend to increase our portfolio-wide port count to over 700 (~+125%) by year-end 2024.
Progress Towards Environmental Goals
Smart Building Technology
UDR utilizes smart building technology to monitor energy usage and indoor air quality in near real-time, create alerts when equipment malfunctions, and control smart common area thermostats from a single centralized dashboard. These activities help us achieve our environmental goals and improve our bottom line financial and environmental results by lowering our energy costs, providing opportunities to identify potential new streams of revenue, and reducing our GHG emissions. Our communities with smart building technology used an average of 8% less common area energy in 2022 when compared to pre-installation baselines.
Resident Leak Detection
In addition to leak detection technology implemented at 96% of homes in our portfolio as part of the SmartHome packages, we also utilize submetering technology on over 28,000 water meters in leased spaces to detect and mitigate leaks. This includes submetering on meters throughout over 23,400 homes, representing over 41% of our portfolio. We receive daily emails that alert us to unit-specific high usage and repeated high consumption across these communities, providing actionable data to investigate potential leaks. Smart metering devices contribute to more effective and proactive maintenance by identifying water leaks in near real time. This can help mitigate potential effects from leaks, such as utility and insurance costs and high water consumption over the duration of the leak if left unresolved.
Solar and Onsite Renewable Energy
Since 2019, UDR has utilized on-site solar generation that has generated a cumulative 3.9 million kWh of renewable energy. Investments in onsite solar, as well as additional investments in other onsite renewable energy technology, are economically sound and environmentally responsible, as they lower the electricity pulled from the grid and reduce our GHG emissions. We have continued to assess opportunities to deploy solar or other onsite renewable energy technologies where economical.
Through demand response program participation, we reduced our electricity demand during high use periods by over 8,500 kW over the past five years. Our participation has eased the strain on local power grids during high-demand periods. We continue to assess demand response opportunities with local municipalities and utility providers in additional markets. Additionally, we are encouraging our residents to engage with programs like Grid Rewards and California’s ISO Flex alerts to help lessen their environmental footprint and our scope 3 emissions.
We embrace LEED or an equivalent green certification when possible for significant new developments and existing properties, demonstrating the high aspiration we have to create innovative communities with minimal environmental impact. In 2022, UDR obtained sustainable certifications for 4 additional communities, bringing the total of all sustainable certified properties to 29.
100 Pier 4 | 369 homes | LEED Silver
1301 Thomas Circle | 292 homes | Fitwel Certified
13th & Market | 264 homes | LEED Silver
21 Chelsea | 209 homes | Fitwel Certified
3033 Wilshire | 190 homes | Green Globes
345 Harrison | 585 homes | LEED Silver
399 Fremont | 447 homes | LEED Silver
95 Wall | 503 homes | Fitwel Certified
Andover House | 171 homes | Fitwel Certified
Beach & Ocean | 173 homes | NGBS Silver
Capitol View on 14th | 255 homes | LEED Platinum
Channel Mission Bay | 315 homes | LEED Gold
CityLine | 244 homes | LEED Silver
CityLine II | 155 homes | LEED Silver
Fiori on Vitruvian Park® | 391 homes | LEED Silver
Leonard Pointe | 188 homes | LEED Gold
Los Alisos at Mission Viejo | 320 homes | LEED Silver
Savoye | 394 homes | LEED Silver
Savoye2 | 351 homes | LEED Gold
Station on Silver | 400 homes | NGBS Silver
The Residences at Pacific City | 516 homes | LEED Silver
The Residences on Jamboree | 381 homes | NGBS Silver
Verve Mountain View | 155 homes | LEED Silver
View 14 | 185 homes | Fitwel Certified
Vision on Wilshire | 150 homes | LEED Silver
Vitruvian West | 383 homes | LEED Silver
Vitruvian West II | 366 homes | LEED Silver