Climate risk dashboard expanded to portfolio Implemented policy requiring all new developments and acquisitions to be assessed for 14 climate risks via Climate and Emissions Risk Dashboard.
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No durable removals program disclosed AvalonBay's decarbonisation strategy relies on operational reductions, renewable energy procurement and embodied carbon reduction rather than carbon removals or offsets. The report discusses no DAC, BECCS, biochar, afforestation or nature-based removal credits as part of its SBT pathway.
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Dependent: Embodied carbon in new development (capital goods) Embodied carbon — emissions from manufacturing, transport, installation of building materials — is identified as a large driver of Scope 3 and a key component of achieving the approved Scope 3 SBT. Two pilot projects launched in 2021 to track embodied carbon and develop reduction strategies for design, procurement and construction across the future development pipeline. Investing in Energy Impact Partners (EIP) to support decarbonizing concrete and modular building.
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Primary: Demand response and smart building operations platform AvalonBay operates a smart building platform covering 40 properties (13.5M sq ft) that monitors CHP generation, supports battery dispatch optimisation, smart thermostats, and interval metering. In 2021 demand response generated $275,000 in utility savings and demonstrated >2 MW of grid-stress reduction capability. The platform integrates summer peak demand reductions into renewable energy credit procurement, further supporting the Scope 2 market-based reduction strategy.
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Dependent: Tenant/resident engagement on Scope 3 emissions Resident engagement integrated into emissions reduction plan: GridRewards app launched at NYC properties enables 133 residents to track usage and reduce consumption during high-carbon peaks (1.2 mWh reduction, ~351 kg CO2e avoided across 6 demand response events). Smart thermostats, green labels in 75 communities, and renewable energy options for residents support tenant-driven Scope 3 reductions.
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Dependent: Embodied carbon reduction in construction supply chain (concrete, rebar, drywall) A 2020 analysis identified concrete, steel rebar, and gypsum-core drywall as the top three high-embedded-carbon construction materials. In 2021 AvalonBay piloted embodied carbon tracking (using EC3 tool and ISO 14040/44) on 2 development projects and is engaging key concrete and rebar suppliers on lower-carbon alternatives. Material substitution is planned for 2022-2023 and is one of the three primary tracks for achieving the SBTi Scope 3 target (47% reduction by 2030).
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Primary: Tenant/resident energy reduction — downstream leased assets (Cat 13, dominant Scope 3) Resident energy consumption (Cat 13 downstream leased) represented 201,945 tCO2e in 2021 and is the largest Scope 3 category, targeted under the SBTi 47% intensity reduction goal by 2030. AvalonBay engages residents through education, a Green Label programme showing energy savings in new apartments, and piloting community-scale solar-for-residents projects at 4 communities in California. Demand-response programmes were expanded to residents in New York and scoped for California in 2021.
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Primary: Building electrification and HVAC efficiency upgrades AvalonBay is pursuing building electrification as a long-term decarbonisation lever, piloting compact heat-pump units designed for existing multifamily buildings through the NYC Retrofit Accelerator. New construction standards mandate solar-readiness and higher HVAC efficiency. Boiler replacements, HVAC upgrades, and insulation improvements were among the 26 energy efficiency projects completed in 2021, collectively delivering 867 tCO2e Scope 1+2 reductions.
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On-site solar PV plus green tariff wind energy procurement strategy AvalonBay established its solar strategy in 2016 and by end-2021 had installed 4.7 MW of on-site solar at 23 new communities, in addition to 15 communities with 2.2 MW already operating, with 21 more projects planned for 2022. Separately, in 2021 the company shifted 91% of its procurable common-area electric load to Green-e certified wind energy via US-RECs, reducing market-based Scope 2 significantly. The combined solar-battery-demand-response platform targets 85 communities and 24.7 MW of on-site renewable generation, saving ~$3.9M annually and offsetting ~15,800 tCO2. The renewable strategy is a core pillar of achieving the SBTi-approved 53% Scope 1+2 intensity reduction by 2030.
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Third-party limited assurance (ISO 14064-3) on Scope 1, 2 and 3 emissions LRQA provided limited assurance under ISO 14064-3 for 100% of Scope 1, Scope 2 (location and market), and Scope 3 (business travel, employee commuting) emissions for CY 2021. Also verified water and waste.
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