Southfield, Michigan, Jan. 03, 2023 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (“Sun” or the “Company”) (NYSE: SUI), a real estate investment trust (“REIT”) that owns and operates, or has an interest in, manufactured housing (“MH”) and recreational vehicle (“RV”) communities, and marinas (collectively, the “properties”), today announced it has adopted goals to achieve Carbon Neutrality by 2035 and Net Zero Emissions by 2045. This commitment is part of a concerted effort by Sun to significantly reduce greenhouse gas emissions and ultimately reach net-zero emissions to limit global warming and prevent the adverse effects of climate change.
The scope of Sun’s commitment will be seen across all its properties, as it works toward achieving its climate change goals through various means including:
- Renewable Energy – Expanding the use of renewable energy across its portfolio through additional on-site energy generation, the purchase of off-site generated energy, and Renewable Energy Certificates
- Green Building – Increasing the use of certified energy efficient manufactured homes, including ENERGY STAR®, in its communities as well as energy-efficient lighting and building control systems
- Waste – Reducing total waste and increasing diversion from landfills by evaluating all disposal options locally available, including recycling, and adopting the best solution(s) at each property
- Material Procurement – Partnering with its supply chain and consultants to collect emissions data on products and services
“It is incumbent upon Sun to play its role to combat the unfavorable impacts of climate change,” said Gary Shiffman, Chairman, CEO and President. “We have an array of resources and knowledge available to support achieving our Carbon Neutral and Net Zero Emissions goals. By working together across our portfolio to incorporate our commitment into daily routines and workflows, we are confident we will achieve them. This is a commitment to our residents, guests, team members and communities that will benefit current and future generations.”
While the timeline for achieving Carbon Neutrality and Net Zero is new, Sun’s sustainability commitment has been evolving for years. Sun’s most recent ESG report can be found here on the Sun Communities website at www.suncommunities.com.
About Sun Communities, Inc.
Sun Communities, Inc. is a REIT that, as of September 30, 2022, owned, operated or had an interest in 662 developed MH, RV and Marina properties, comprising over 180,500 developed sites and over 46,100 wet slips and dry storage spaces in 39 states, the United Kingdom, Canada, and Puerto Rico.
Forward Looking Statements:
This press release contains various “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the Company intends that such forward-looking statements will be subject to the safe harbors created thereby. Forward-looking statements can be identified by words such as “commitment,” “goal,” “will,” “may,” “could,” “expect,” “anticipate,” “believes,” “intends,” “should,” “plans,” “estimates,” “approximate,” “guidance,” and similar expressions in this press release that predict or indicate future events and trends and that do not report historical matters.
These forward-looking statements reflect the Company's current views with respect to future events and financial performance, but involve known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control. These risks, uncertainties, and other factors may cause the actual results of the Company to be materially different from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include changes in laws and regulations regarding greenhouse gas emissions and carbon costs; government incentives; the development and enforcement of local, national and regional mandates; unforeseen technical or operational difficulties; risks related to natural disasters, such as hurricanes, earthquakes, floods, droughts and wildfires; existing or potential supply chain disruptions; the effects of the COVID-19 pandemic and related stay-at-home orders, quarantine policies and restrictions on travel, trade and business operations; national, regional and local economic climates; wars and other international conflicts; difficulties in the Company's ability to evaluate, finance, complete and integrate acquisitions, developments and expansions successfully; the ability to maintain rental rates and occupancy levels; competitive market forces; the performance of recent acquisitions; changes in market rates of interest; changes in foreign currency exchange rates; the ability of purchasers of manufactured homes and boats to obtain financing; and the level of repossessions by manufactured home and boat lenders. Further details of potential risks that may affect the Company are described in the Company’s periodic reports filed with the U.S. Securities and Exchange Commission, including in the “Risk Factors” sections of the Company's Annual Report on Form 10-K for the year ended December 31, 2021.
The forward-looking statements contained in this press release speak only as of the date hereof and the Company expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the Company's assumptions, expectations of future events, or trends.
For Further Information at the Company:
Fernando Castro-Caratini
Chief Financial Officer
(248) 208-2500
www.suncommunities.com
