ESG

Flower

Environmental, Social and Governance

Magnolia Capital recognizes that Environmental, Social and Governance (ESG) risks and opportunities have become an increasingly vital part of responsible investing and we believe in the mutually beneficial partnership between business and society.

Environmental

As a growing multifamily real estate company, we have taken the opportunity to integrate ESG criteria into our best practices. We continue to provide monthly reporting for energy/waste/water usage and continue to install Energy-Star certified appliances and equipment in our properties.

Magnolia also takes pride in our corporate offices in staying green. In 2019, Magnolia received the HinesGo award from the Hines Corporation for becoming a green office. With this award, we strive to demonstrate leadership in the industry, create a competitive advantage, and motivate employees to implement sustainable practices in and outside of the office.

Magnolia is implementing sustainable measures that include replacement of the following across its portfolio:

5,757Faucet Aerators
(kitchen and bath)

1,996Shower heads

1,563Toilets

Social

We continue to prioritize the health, safety, and security of our employees, asset residents, and staff here at Magnolia Capital. At our properties, we improve upon educating our property managers on sustainability issues by providing adequate tools and resources for training. Promotion of physical and emotional well being of asset residents is also encouraged as each property through regular resident events, onsite resident fitness classes, and Fitness Center capital projects.

In office, we also encourage employees to take part in ESG issues and promote employee commitment to society with 8 granted hours per year to individually volunteer. We also ensure 25% of office employees use biking, carpooling, and mass transit to commute to work to reduce emissions and employee commuting costs.

Governance

Magnolia continues to strive to be an industry leader in ESG implementation practices through regular initiatives driven by our internal ESG taskforce. We provide full transparency and use consistent dialogue when reporting to investors and partners. We exercise conducting business in a manner to avoid unfair or corrupt business practices.

We make sure to encourage our HR policy that respects all employees and an objective criterion to score employees on performance. Our employee handbook ensures equal employment opportunity across all staff irrespective of role, gender, race, age, religious belief or sexual orientation.