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Leading the Way

RioCan is among leaders within the Canadian real estate industry on Environmental, Social and Governance (ESG) best practices. As part of our pledge to continuous improvement, we participate in the GRESB survey every year.

As a real estate investment trust, we shape the future, and as community stewards we have a responsibility to do it right, sustainably, and sensibly.

We strive to lead the industry by initiating conversations with all our stakeholders, including customers, tenants, employees, co-owners, investors, planners, regulators, and suppliers about more sustainable options in the communities where we operate.

Environmental

  • Achieved top rank amongst the North American retail peers in the 2024 GRESB Real Estate Assessment for Standing investments
  • Over 75% of the GLA is certified under BOMA BEST program as of December 31, 2024
  • Achieved 2024 Green Lease Leader (Platinum) recognition
  • Won BOMA Toronto’s race2reduce CREST Awards for two RioCan sites in 2024

Social

  • Recognized as one of Greater Toronto’s Top 100 Employers by Mediacorp Canada Inc.
  • Achieved Fitwel Commercial Interior Space Certification of RioCan’s head office at the Yonge Eglinton Centre
  • Achieved a top-decile ranking amongst a benchmark of similar-sized companies in our 2024 Employee Engagement survey for the third consecutive year
  • Established a landmark partnership with SickKids to increase equitable access to essential pediatric health services through a dedicated pediatric virtual walk-in clinic.

Governance

  • Maintained an ESG rating of 'AA' by Morgan Stanley Capital International (MSCI) in February 2025
  • Maintained “Prime” status by Institutional Shareholder Services (ISS) as of December 31, 2024
  • Ranked first amongst its Canadian peers in the 2024 GRESB Public Disclosure Assessment with an A rating for the sixth consecutive year
  • Developed a Supplier Code of Conduct in 2024

Our ESG Strategy

RioCan is committed to embedding ESG across our business under our Responsible Growth pillar as part of our five-year strategic plan. Our ESG Strategy focuses on the following;

ESG strategy focuses: Resilient Business, Purposeful Impact, Strategic Partnerships

Integrating Sustainability Priorities into Decision Making at All Stages of an Asset’s Life Cycle

Sustainability image
Strategic Planning

1. Strategic Planning

Identify and assess material ESG risks to update the materiality matrix, which ranks key risks in order of importance for the following year.

Acquisitions

2. Acquisitions

Conduct environmental due diligence along with select ESG factors as a part of our acquisition processes

Operations / Asset Management / Leasing

3. Operations / Asset Management / Leasing

Our Operations and Asset Management departments apply our sustainability and environmental guidelines across our operations. They also consider budgeting for sustainability initiatives. Our Leasing department includes green lease clauses to outline our continuous commitment to sustainability through leasing and tenant construction.

Development / Redevelopment / Construction

4. Development / Redevelopment / Construction

Once we have selected an asset for renovation or redevelopment, we work with relevant parties to establish sustainability goals, and we apply our sustainability guidelines for development/construction.

We are taking action to drive continuous cultural improvement in our organization by implementing initiatives and setting targets to monitor progress on our ESG objectives and goals.

From our strategic decisions to our interactions – with employees, tenants, partners, those in our supply chain and the communities where we operate and develop – sustainability considerations are embedded in the way we think and do business at RioCan.

Read Our Sustainability Report