CareTrust REIT’s fourth annual sustainability report, issued last week, highlights newer priorities, such as cybersecurity and employee well-being, for the San Clemente, CA-based real estate investment trust.
“Despite the unique constraints of the triple-net lease structure, CareTrust continues to make meaningful ESG progress,” President and CEO of CareTrust REIT Dave Sedgwick said.
Issuance of the report coincides with the REIT’s 10th anniversary. The firm’s ESG initiatives are aligned with Global Reporting Initiative standards, CareTrust said.
Among achievements in 2023, the REIT partnered with a cybersecurity firm to safeguard the confidentiality and integrity of its data. Additionally, the company provided web security training to employees so that cyber risks are more quickly identified.
According to the report, CareTrust successfully implemented two environmental improvement projects in 2023 through its tenant incentive program, implemented in 2021.
Additionally, the REIT said it pinpointed the top 20 most resource-intensive properties and “began communication with relevant operators, offering tailored improvement solutions and supportive resources.” The company also increased leases with ESG requirements by 10%.
The REIT has bumped up efforts that consider employee well-being, according to the report.
“While work is important, we believe it is only one aspect of a well-lived life, and we support
the desire for fulfillment both on the job and during non-working hours. We have developed
policies, programming and education that specifically focuses on the well-being of stakeholders and helps them stay healthy, engaged, and informed,” the company said.
CareTrust also said it “significantly boosted” its charitable giving in 2023, “positively impacting community programs and initiatives.”
In 2020, CareTrust hired Conservice ESG to assess and develop a three-year ESG roadmap that aligned with the REIT’s core values and goals. The firm said that its 2021 corporate sustainability report showed that the company executed on its stated plans from its inaugural report in 2020.
In 2022, CareTrust conducted a portfolio-wide physical climate risk assessment, integrated its ESG checklist into its acquisition process and funded several environmental improvement projects through its tenant incentive program, according to the report.
