PHILADELPHIA, PA — Independence Realty Trust, Inc. (NYSE: IRT) has released its 2024 Sustainability Report, detailing progress across its environmental, social, and governance (ESG) initiatives. The report, now available on the company’s investor relations website, outlines IRT’s efforts to align sustainable operations with long-term value creation for residents, associates, and shareholders.
“Our approach to operating multifamily communities is grounded in a conscious regard for the environment and wider society, while enhancing our business success,” said Scott Schaeffer, Chairman and CEO of IRT. “Our core values are reflected in the four pillars of our sustainability strategy—enhancing residential living, supporting associates, managing environmental impact, and promoting good governance.”
According to the report, IRT manages 114 communities with over 33,000 apartment homes, primarily concentrated in the Sunbelt and Midwest regions, where population and job growth remain above the national average. The company maintained an average occupancy rate of 95.5% in 2024 and reported that 66% of its net operating income came from Sunbelt markets.
Key sustainability highlights include:
- Resident Engagement and Well-Being: IRT achieved a Reputation Score of 765, up from 721 in 2023, with 97% of communities scoring above industry averages. Over 16,000 residents participated in surveys assessing satisfaction, community engagement, and service quality.
- Environmental Performance: IRT published its inaugural Scope 1 and 2 greenhouse gas emissions data, reporting 24,067 metric tons of CO₂e across its operations. The company benchmarked 100% of its multifamily communities through ENERGY STAR Portfolio Manager and expanded its electric vehicle charging network to 116 spaces across 21 communities.
- Employee and Associate Development: The company invested $4.2 million in training and professional development, with every associate participating in educational programs and averaging 25.8 hours of learning. IRT also reported 100% ownership participation for full-time associates and maintained a $17 minimum hourly wage across its portfolio.
- Community Investment: Through its partnership with One Tree Planted, IRT’s IRTree program funded 6,227 new trees in 2024, bringing its total to more than 43,000 trees since 2020.
IRT’s sustainability framework is guided by board-level oversight, with seven of ten directors possessing ESG expertise. Its committees oversee governance, risk, audit, and sustainability initiatives that align with the company’s mission of creating “exceptional living experiences” and delivering consistent shareholder returns.
“Our 2024 report highlights how sustainability and performance are intertwined,” Schaeffer said. “By investing in our communities, empowering associates, and maintaining high governance standards, we are positioning IRT for enduring success.”
The full 2024 Sustainability Report is available at https://investors.irtliving.com/sustainability/.
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