Cardinal Furthers its ESG Commitments in Q2 2022
DENVER, CO – June 7, 2022 – Cardinal Group Companies (Cardinal) recognizes the importance of responsible environmental, social, and corporate governance practices and has continued to keep ESG standards as key factors as our business continues to scale and evolve.
To ensure ESG initiatives remained at the forefront, Cardinal formed an internal ESG Council and subcommittees focused on identifying opportunities for improvement and establishing goals to further enhance Cardinal’s corporate commitment to ESG implementation company-wide. To that end, Cardinal engaged Echelon Energy as a preferred partner to help identify Cardinal’s corporate ESG commitments for the next three years. Over the next several months, Cardinal and Echelon will be working together with both internal and external stakeholders to quantify ESG metrics for corporate impact, contribute to the framework of Cardinal’s corporate ESG strategy, and identify additional risk mitigation tactics.
Cardinal’s ESG Council subcommittees have also been focused on implementing impactful initiatives across its operations:
- The ESG Council has provided Cardinal’s managed communities with educational materials on water conservation and tips for residents to reduce their environmental impact.
- Cardinal Group Construction Management is working alongside the investment team and capital partners on utility efficiency projects that will help us reduce consumption and lower operating costs. Across an eight-community portfolio, the installation of new energy-efficient and water conservation infrastructure is projected to achieve 33% savings.
- Cardinal Cares, our charitable impact team, announced a new program that provides every team member an additional four hours of paid time off per quarter to be spent volunteering within local communities.
- Cardinal, in partnership with several other industry operators, is launching The College Student Mental Wellness Advocacy Coalition. The coalition, in partnership with “Hi, How are You” will focus on better understanding residents living off-campus, encouraging open dialogues, and raising public awareness about the importance of mental wellness and its impacts on students as they work to realize their full potential along their college journey and beyond.
- Cardinal’s people and culture team is also working hard to roll out some exciting new internal programs to ensure our team members can continue to bring their best selves to work every day, including most recently our annual cost of labor adjustments for all employees.
For additional information about Cardinal’s commitment to ESG and important statistics, please visit our website at https://cardinalgroup.com/environmental-social-and-governance/.
About Cardinal Group Companies
Cardinal Group Companies (“CGC”) is a fully integrated real estate management, investment, construction, consulting, and marketing firm focused on multifamily and student housing throughout the country. Headquartered in Denver, Colorado, CGC affiliate companies are all firmly built atop the company’s “Cardinal Culture.” Since 2007, CGC has been operating successful partnerships, focused on creating efficiency and above market performance via their commitment to challenging the status quo of the industry. To date, Cardinal Group Companies has developed several best-in-class initiatives, which have earned the company national recognition year after year. Cardinal Group Companies’ management platform oversees over 40,000 units nationwide including 11,000 conventional and affordable housing units and over 90,000 student housing beds across the U.S., including Cardinal Group, Companies’ owned portfolio and third-party managed properties.
To learn more about Cardinal Group Companies, please visit www.CardinalGroup.com.