Sie sind auf Seite 1von 24

Built on Purpose

Reinforcing our Foundation

1 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY


2014 CORPORATE SOCIAL RESPONSIBILITY
EXECUTIVE SUMMARY
A message for our valued stakeholders
from David LaRue, president and chief executive officer

Welcome to Built On Purpose: Reinforcing Our Foundation, To increase accountability, we improved our sustainability To minimize our impact on the environment and
our 2014 Corporate Social Responsibility (CSR) report. governance structure by forming a Corporate Social maximize the benefits we deliver to our stakeholders and
Responsibility Advisory Council. The council, which is communities, our corporate and property management
At Forest City, our shared commitment to corporate comprised of leaders representing various business units teams achieved significant reductions in both energy
responsibility is rooted in our core values and brought enterprise-wide, informed our CSR report content, current consumption (8.9 percent) and greenhouse gas emissions
to life by our talented associates, who work every day strategy, future roadmap and resulting communications, (10.5 percent) across the company’s comparable portfolio.
to serve our residents, guests, tenants, partners and and approved the process for conducting a materiality
communities. Their innovative and consistent efforts to assessment in 2015. You can learn about these achievements and more – all
create shared value and stronger relationships with all of made possible by our talented associates – by reading
our stakeholders drive our success as an organization. To continue fostering diversity and inclusion and our full CSR report, available on this site. If you have any
empowering our associates, we launched two new questions, ideas or feedback, please contact us.
As an owner, developer and manager of exceptional real resource groups for our associates – United Way Young
estate, we have the tremendous privilege of creating the Leaders, a skills-based volunteering group, and Unidos, a
places and spaces where people experience their lives. Hispanic associate group. We also supported Gay Games
With that privilege comes the responsibility to ensure 9, an international sporting and cultural event, through
that our apartments, retail centers, office buildings and direct financial support, associate volunteering and in-kind
mixed-used communities create shared value for local donations as a platinum sponsor.
communities.
To drive the adoption of more sustainable practices in our
In 2014, we challenged ourselves to further demonstrate industry and throughout our value chain, we built upon our
our commitment to corporate responsibility by increasing supplier diversity program, setting and achieving ambitious
accountability, empowering associates, driving sustainable goals, while also implementing a new procurement policy
practices and maximizing the benefits we deliver to our that more formally aligns with our core values.
stakeholders and communities.
“At Forest City, our goal is to have a real and positive impact in our communities, not only through transformational
real estate, but also through corporate philanthropy, skills-based volunteering and in-kind contributions. We’re
committed to getting involved, giving back and being a force for good in the communities we serve.”
Jill Ziegler, Director of Sustainability and Corporate Responsibility

Botanica on the Green


BUILT ON PURPOSE

REINFORCING OUR FOUNDATION


Our Core Markets and Properties INTEGRITY We uphold the highest possible standards of ethical
& OPENNESS behavior characterized by openness, candor and honesty.
While Forest City has a diverse portfolio across the United States,
we are especially focused on developing urban centers with
growth opportunities.
ACCOUNTABILITY We are committed to creating value for all of our key
stakeholders. We set high performance standards and

Our expertise positions us to meet development needs


hold ourselves personally and collectively accountable to
meeting our objectives.

while creating an important sense of place DIVERSITY


& INCLUSION
We are committed to fostering an inclusive work
environment that celebrates diversity of people,
perspectives and ideas.

MIXED-USE PROJECTS SUSTAINABILITY We are committed to proactive environmental responsibility,


& STEWARDSHIP
enhancement of economic vitality of the communities in
PUBLIC-PRIVATE PARTNERSHIPS

1 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY


which we operate, and continued investment in the growth,

EXPERTISE
development and well-being of our associates.

URBAN INFILL COMMUNITY We support and promote both corporate and individual civic
INVOLVEMENT involvement in our communities through our investment

ADAPTIVE REUSE
of capital, spirit and personal effort for the benefit of our
residents and our associates.

INNOVATIVE FINANCE ENTREPRENEURIAL


SPIRIT
We embrace an entrepreneurial culture through individual
creativity, appropriate risk-taking, effective decision-making,
and delegation of authority and responsibility to those
closest to our customers.

Our core values are the foundation of our identity as a responsible TEAMWORK We place the highest priority on the collective interests of
organization. They guide our daily business decisions, reinforce the enterprise with the understanding that this can only be
achieved through effective cross-functional communication,
our relationships with stakeholders and build upon the elements collaboration and decision making.
that create a thriving culture at Forest City.r
ECONOMIC PERFORMANCE
STRONG
growth FIVE one
We invest in projects with

high NEW
Portfolio

potential
Performance in
Regional Mall
multifamily
apartments

2014 in our core markets EXPANSION


2 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY

and divest non-core properties

Total
Year Ended Year Ended Year Ended

12.31.14
* In 2013, Forest City transitioned our fiscal year-end to December 31 from January 31. As a result, 2013
12.31.13 1.31.13
Revenues $966M $998M $1.48M
revenue represents the 11 months ended December 31, 2013.

from
Real Estate Operations

from Real Estate Operations


OPERATING STRUCTURE, GOVERNANCE AND ETHICS

On January 13, 2015, we announced that our Board of Directors approved a plan to
pursue conversion to REIT status, with the goal of electing the status for the taxable
year beginning January 1, 2016. Benefits of the transformation include greater
alignment with the majority of our publicly traded peers, exposure to an expanded
universe of investors, opportunities for inclusion in major industry indices and
improved accessibility to capital markets. Forest City’s core values and commitment
to corporate social responsibility remain steadfast during this monumental transition
in our organization’s history.

CSR Advisory Council for CSR communications, determine CSR

3 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY


To ensure we are strategically and actively report content and provide counsel on
overseeing our CSR and sustainability the company’s CSR roadmap, including
efforts, we formed a Corporate Social the approval of a formal CSR materiality
24/7/365 Hotline Responsibility Advisory Council in assessment to be conducted in 2015.
Forest City maintains a 24/7/365 day-a- 2014. The Council’s aim is to develop a
year hotline for associates to anonymously
report behaviors or activities that may
consistent methodology for CSR strategy, Operating with Integrity
violate Forest City’s policies or practices stakeholder communication efforts Across our organization, associates guide
or federal, state or local regulations. To and program initiatives by engaging their daily decision-making based upon
ensure proper procedures are followed,
subject matter experts from across the a philosophy of ethics and integrity. One
we perform frequent internal compliance.
enterprise to embed CSR principles that hundred percent of Forest City personnel
add value to our business. The Council reviewed and agreed to our Code of Legal
held three meetings in 2014 to prioritize and Ethical Conduct in 2014.
stakeholders and reporting frameworks
Procurement Strategy
IN APRIL 2014, FOREST CITY INTRODUCED AN ENTERPRISE-WIDE PROCUREMENT POLICY
DESIGNED TO GOVERN AND STANDARDIZE ALL PURCHASING DECISIONS IN THE COMPANY
We asked our preferred suppliers to Our Supplier Code of Conduct promotes
review and sign the policy and all new the highest standards of ethics in
vendors will be required to sign the our supply chain. The code includes
policy moving forward. Additionally, mechanisms for reporting violations
Forest City spent

$41.7 million
our Integrative Design Services (IDS) and expectations for supplier conduct,
group is collaborating with procurement including criteria for sustainable sourcing,
to incorporate the purchasing of more environmental regulation, and labor and
sustainable materials into our buildings, human rights.
including LEED compliant vendors for with diverse suppliers in 2014

exceeding our goal


integrated pest management and janitorial
supplies, which ultimately improve their
4 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY

quality and performance.


of spending 5 %

our goal
with diverse suppliers in 2015

is a 1% increase
KEEPING OUR ASSOCIATES,
TENANTS AND DATA SAFE
AND SECURE
To ensure the safety of our tenants, we
meet or exceed compliance with all
local codes and have created robust
design and operations standards. For-
est City has internal safety and security
manuals accessible to associates at
all times for guidance on the proper
day-to-day operation protocols for our
business and properties.

CYBER SECURITY COUNCIL


In November 2014, Forest City
established a cross-functional Cyber
Security Council whose mission

5 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY


is to provide protection against
cybersecurity risks and threats,
establish appropriate governance to
identify key cybersecurity risk areas,
mitigate risks and minimize the impact
of any breaches.
Connecting with Community

PHILANTHROPY

Forest City emphasizes philanthropic efforts that support local neighborhoods in our headquarter city of Cleveland,
in our core markets, as well as in the communities surrounding our properties.

Charitable giving
We support our associates’ contributions
of time and talent to strengthen our
communities. Our goal is to fund

Categories organizations and initiatives that generate


significant, enduring and positive impacts

37%
in our communities. Areas of philanthropic
focus include civic, culture and art,

24%
education, economic development, health
6 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY

9% 16%
and welfare and diversity.

9%
9%
5% of charitable donations
supported diversity initiatives
across areas of giving.
Civic Culture Education Economic Health Discretionary

$250,000
+ Art Development + Welfare

Founded by two associates in 2004, Jeans Day for Charity allows associates raised
over
to wear jeans to work on Fridays for a $5 donation, which benefits non-profit
organizations. Forest City’s Cleveland associates have been empowered
to raise more than a quarter million dollars for over 130 national and local
organizations since the inception of the program.
supporting 130+ Organizations
The Gay Games
In August 2014, Cleveland, Ohio,
made history as the fourth U.S. city
to host the international Gay Games.
The Gay Games invite participation
from all athletes, regardless of sexual
orientation, race, gender identity,
sex, religion, nationality, ethnic origin,
political beliefs, athletic or artistic
ability, age, physical challenge or
health status.

In addition to being a proud platinum-


level sponsor, Forest City provided
additional support for the games
through advertisements in Tower City
Center, providing storage space for
equipment and suppliers, adopting
three event activities, recruiting 50

7 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY


associate volunteers and engaging
the Diversity Center of Northeast
Ohio to conduct LGBTQ 101 Cultural
Competency Training for 169 Forest
City associates and contractors.

50 169
associate competency
volunteers participants
COMMUNITY DAY
Community Day has inspired
meaningful relationships between
Forest City associates and community
organizations year-round. This
year, more than 1,000 Forest City
associates nationwide participated in
the company’s 11th annual Community
Day on May 9, a paid day of service
benefitting non-profit organizations
at nearly 70 locations across the
country. More than 60 associates
nationwide serve as site organizers to
connect Forest City volunteers with
agencies whose missions reinforce
our core values, and to coordinate
specific projects that provide essential
community services.
8 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY

over
1,000
associates

at nearly 70 locations
Strength in Partnerships

TENANT ENGAGEMENT

Forest City takes a holistic approach to reputation management,


marketing and communications by engaging residents and prospects
on both reputation websites and social media.
Through our Quality Program, we Public-Private Partnerships
administer resident surveys, engage with Forest City is a partner of choice for
tenants via social media and conduct cities who desire to reimagine neglected
associate customer service training. In urban neighborhoods. Our expertise in
addition, Forest City performs “targeted” public-private projects uniquely positions
Internet, telephone and on-site shops us to integrate sustainable, mixed-use

9 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY


for our Federally Assisted and Military developments into established urban
portfolios on an as-needed basis. neighborhoods and create meaningful,
lasting community impacts.
Customized Tenant Engagement Descriptions, photos and reviews of our
Connecting our tenants to the communities are available to prospects Because of our commitment to CSR,
communities and properties where
they live allows us to attract and retain and residents on Yelp, Facebook and Forest City incorporates elements to
engaged and satisfied tenants. Due to Google Plus Local. Forest City responds promote community connectivity, including
our diverse portfolio, our approach to to more than 90 percent of property arts initiatives, greenspace, walkability and
tenant engagement is customized and
responsive to reflect the uniqueness of reviews to encourage open channels of access to public transportation. Forest City
each of our properties. communication with our communities. engages with city planners to optimize
the community benefits of each property
and regularly commits to achieving and
reporting progress on initiatives.
CLEAN RIVERS PROJECT

Minority
33%
In 2014, Forest City managed
the construction and third-party
inspections of the Tingey Street
Diversion Sewer with the District of Business Enterprise

5%
Columbia Water and Sewer Authority.

Woman-owned
The Clean Rivers Project was
designed to reduce sewer overflow

Business Enterprise
into the Anacostia and Potomac Rivers
and Rock Creek. The system has an
expected lifespan of 100 years and contractor participation
includes a 1,200-foot-long, 72-inch
diameter tunnel that runs directly
under The Yards, one of our mixed-use
developments along the Anacostia
River. The Diversion Sewer improves
existing water and sewer infrastructure
by providing additional containment
capacity, preventing untreated sewage
10 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY

from reaching the Anacostia during


periods of heavy rainfall.

In December 2014, Forest City


received an Award of Excellence
for Public-Private Initiative as part
of the Clean Rivers Project from the
District of Columbia Water and Sewer
Authority for our role in the project.
EMPOWERING ASSOCIATES

OUR ASSOCIATES

OUR ASSOCIATES ARE THE FOUNDATION OF OUR ORGANIZATION


We empower our associates by engaging them in our commitment to CSR, encouraging an inclusive and dynamic workplace, and providing
opportunities for continuous learning and growth.

Associate Resource Groups Forest City currently has four ARGs:


ARGs generate tangible benefit for our • WE LEAD (Women’s Excellence in
organization by providing personal and Leadership, Education, Advancement,
professional development resources, and Development)
education and engagement activities, • AACCEL (African Americans Connecting
increased opportunities for connectivity and Creating Excellence and
with tenants and communities and forums Leadership)

11 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY


for collaboration and innovation between • UNIDOS, Hispanic ARG
associates. • United Way Young Leaders, skills-based
volunteering ARG

Our Culture
Forest City’s culture of empowerment is
fundamental to attracting and retaining
skilled associates, who drive innovation,
process improvement, business continuity
and enduring success for our organization.
Associate Diversity Wellness
and Inclusion Forest City’s wellness program, HealthyRoads, was established in 2013 with the goal of making healthy living a
Diversity and Inclusion is one of our component of our culture and empowering associates to manage their personal health and wellbeing.
core values, and one that empowers our
associates to generate positive change In 2014, we strengthened our HealthyRoads program by increasing overall participation incentives and awarding
in our communities and workplace. prizes for two annual wellness challenges. Approximately 400 associates completed personal health assessments
A diversified workforce reinforces in 2014, which is consistent with 2013 engagement levels. Participation in biometric screenings increased 44
our foundation by strengthening our percent in 2014, which provided 245 associates with information to better understand and manage current and
capabilities for understanding our potential health concerns.
various stakeholders and delivering on
their distinct needs. We aspire to be

2014
industry leaders in our capacity to recruit Participation in
biometric screenings
and retain associates with different
! ! INCREASED 44%
participation
perspectives who will help us perform in a ! in 2014
High Obesity
more effective, competitive and thoughtful Blood High
Cholesterol
manner.
Approximately 400 associates
completed personal health
Engagement and Culture assessments in 2014,
12 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY

which is consistent with


According to the Workplace Research
2013 engagement levels.
Foundation, engaged employees drive
higher customer satisfaction, achieve
above-average productivity and contribute
to a more positive, innovative workplace.

400 245 potential


Forest City reinforces a culture of
engagement by providing access to
resources and tools that keep associates
informed of opportunities for participation
and growth. health concerns
Unique
Participants
biometric
screenings managed
2014 Top Workplaces
For the second consecutive year,
Forest City has been named to The
(Cleveland) Plain Dealer’s list of
the 100 top workplaces in the area,
improving its ranking from 18th to 11th
in the category of large employers with
more than 500 local employees.

#11
TOP WORKPLACE

Associate Engagement Survey


Results

13 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY


Forest City conducted its third
annual associate satisfaction survey,
FC Voices, in 2014. Most favorable
organizational strengths selected
by associates included positive
relationships with supervisors,
community involvement and a good
work environment.

83% PROUD TO WORK


FOR FOREST CITY
LEARNING, DEVELOPMENT
AND TRAINING
Forest City is committed to
the personal and professional
development of our associates
throughout their careers. In 2014,
associates completed 9,126 training
hours on FC Skills Development, with
1355 unique users accessing the
platform. In addition, approximately
Continuing Professional Education (CPE) Conference
40 associates leveraged the tuition
Forest City, in partnership with PricewaterhouseCoopers,
hosted its 20th consecutive CPE conference in 2014. reimbursement program in 2014, which
Accounting and finance associates discussed industry covered $110,000 worth of higher
trends, shared accomplishments and brainstormed process
education expenses.
improvements. In total, 80 Forest City associates received
1,120 credit hours of training.
Forest City invests in the development
of its managers and leadership
to ensure the long-term vitality
of our organization. To this end,
14 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY

230 managers completed FIERCE


14 | FOREST CITY CSR EMPOWERING ASSOCIATES

Conversations training in 2014, a


program that teaches participants
professional methods for coaching and
conducting sensitive conversations in
the workplace.

$ 110K in higher education


expenses reimbursed
ADVANCING SUSTAINABLE PERFORMANCE

OUR STRATEGIC APPROACH

LIFECYCLE
Our teams are working toward managing the entire lifecycle of
our properties, from development and construction through,

OF A BUILDING
center-led processes and tools that ensure our design and
construction and operational strategies are implemented.
Sustainability is embedded in our corporate Together, the following teams comprise
strategy of creating purposeful, mixed-use our building design and facility operations
developments in dense urban markets, capabilities which enable Forest City to
DESIGN
and is reflected in our building design, increase institutional knowledge about
construction and ongoing operations. Forest our portfolio and strive for operational

15 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY


City’s progressive and dedicated approach excellence:
to facilities development and operations • Integrative Design Services (IDS)
is embedded in our emphasis on talent • Procurement
management. • Estimation
ONGOING CONSTRUCTION

#11
• Construction
OPERATIONS
GREENEST COMPANY
• Development
• Operations
Commercial Property
Executive magazine
Forest City debuted at number 11 out of 26 companies on Commercial Property Executive magazine’s list of Greenest Companies. The Greenest
Companies list was determined using a self-reporting survey in which companies were evaluated on their performance in categories including
operational practices, number of dedicated sustainability personnel, industry specialization and levels of current and planned LEED certifications.
Energy Star® Ensuring Green Building Accountability
We achieved the ENERGY STAR® label Across our portfolio, we use third-party certifications and reviews to increase
for five additional properties in 2014, accountability, validate our design and operations strategies and ensure we are
and are actively pursuing certification producing and managing best- in-class buildings in alignment with emerging
for others in 2015 and beyond. In 2014, technologies. We build to LEED specifications, pursue the ENERGY STAR® label
Forest City received an ENERGY STAR for our existing properties and seek BOMA 360 designation for sustainability
Certified Homes Market Leader Award accomplishments in building operations and management.
for Stapleton, a mixed-use develop-
ment in Denver, Colorado. Stapleton Leadership in Energy and Environmental Design (LEED)
built 503 ENERGY STAR certified With an increase in development activity in 2014, we continued our adoption
homes in 2014, which will collectively, of LEED criteria for new construction and required all new projects to use LEED
save buyers approximately $120,900 Silver certification as a design framework. All project teams incorporated best-
on utility bills each year. in-class green building practices and 95 percent of our current developments
are targeting LEED Certification. In addition to our 18 LEED certified projects, we
The environmental benefits of the currently have 13 developments targeting LEED certification upon completion and
ENERGY STAR certified homes are achieved LEED Gold certification at Radian apartments in 2014.
equivalent to reducing CO₂ emissions
by 850 metric tons, or Building Owners and Managers Association International

179
(BOMA) 360 Performance Program
16 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY

removing
BOMA 360 promotes standards of operational excellence in commercial
properties by validating and recognizing best practices in building operations
and management, life safety/security/risk management, training and education,
passenger vehicles from the road energy, environment/sustainability and tenant relations/community involvement.

avoiding growing
Forest City currently has 13 BOMA 360 designated buildings in its portfolio and
will be pursuing validation for additional properties in 2015.

1,976 21,629
barrels tree seedlings
of oil for 10 years
DESIGN AND CONSTRUCTION OPERATIONS
To ensure the high quality and optimal financial Our team of experts performs facility and systems
performance of our new project pipeline, IDS engineering for major renovations, creates and
leads and influences design decisions, introducing supports technology platforms and manages Energy & Sustainability
Standard Operating Procedures

TASK FORCE
innovation and lowering the overall cost of energy and utilities. In 2014, we formed a business
delivery by tracking trends and disseminating unit task force to develop Energy & Sustainability
institutional knowledge to project teams. Our Standard Operating Procedures. The task force is
strategy is realized through our Design Standards identifying and documenting company-wide best
for New Developments, which align with LEED practices for sustainable building operations and
standards and provide guidance on HVAC equipment maintenance, which will be shared
systems design, lighting densities, building company-wide.
materials selection, sustainable construction
practices and waste management.

17 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY


WE ACHIEVED $2.82 MILLION IN ENERGY SAVINGS IN 2014 THROUGH
UTILITY BILL AUDITS • UTILITY INCENTIVES/REBATES • LEASE AUDITS • NEGOTIATING RATE CONTRACTS • GENERAL BEST PRACTICES
THE COMPLETION OF 180 ENERGY-EFFICIENT RETROFIT PROJECTS

Forest City has engineering teams GREENHOUSE GAS EMISSIONS


strategically placed throughout the We reduce our greenhouse gas emissions
portfolio, aimed at identifying potential by designing and retrofitting our buildings
cost-saving opportunities. In 2014, our to be as energy efficient as possible.
engineering teams conducted 17 Level II We build to LEED and ENERGY STAR
ASHRAE audits and five Level I ASHRAE standards, incorporating renewable
audits to identify energy conservation energy projects and piloting innovative
measures, critical systems and plant energy technologies. Due to these
needs. practices, we reduced our greenhouse
gas emissions by 10.5 percent in 2014.
18 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY

WATER USE INTENSITY PERFORMANCE


(M3 / SF)

Baseline 2013 Actual 2014 Actual vs. Baseline % Change vs. Baseline

TOTAL 0.1486 0.1462 0.0024 1.6%

ENERGY PERFORMANCE
REDUCED
Forest City set a goal to reduce energy
reduced greenhouse
8.9%
use by 2 percent per year from our

10.5%
2010 baseline. Through year-end 2014, energy
gas
we reduced our total energy portfolio EMISSIONS
consumption by 8.9 percent. consumption
WATER

3,621
Forest City began benchmarking

in tons
water use in 2013, establishing our
first clear data set. Based on the
results of this exercise, we prioritized
WASTE DIVERSION
and completed 38 water efficiency
projects in 2014. We are investigating

18.6%
additional strategies for reducing water
with the intent of setting formal water
conservation goals in 2015
RECYCLED WASTE
WASTE AND RECYCLING
Forest City is committed to reducing
waste generation during building
development and daily operations.
In 2013, we conducted a successful
pilot program in collaboration with our
national waste broker to maximize
the efficiency of waste collection

19 | FOREST CITY CSR REPORT: EXECUTIVE SUMMARY


at our properties. The pilot was so
successful we expanded it to 75
residential properties in 2014, saving
waste and recycling costs. Based upon
the positive outcomes, we are now
exploring implementation of recycling
programs at all residential properties.

RENEWABLE ENERGY
Forest City has 12 major renewable
energy facilities constituting 22,000
MWH per year in production and $2.2
million net operating income.
CSR.FORESTCITY.NET

50 PUBLIC SQUARE
CLEVELAND, OHIO 44113
216.621.6060

Das könnte Ihnen auch gefallen