-- 2022 Report Highlights LTC’s Key Achievements, Policies and Performance --
LTC Properties, Inc. (NYSE: LTC), a real estate investment trust that primarily invests in seniors housing and health care properties, today announced the publication of its inaugural Environmental, Social and Governance (ESG) report titled, “People. Planet. Purpose.” The report shares information about LTC’s activities and future goals, highlighting the Company’s key achievements, policies and performance.
In its 2022 ESG report, LTC renewed its commitment to building long-term, sustainable value for its stakeholders, and making a meaningful, positive impact on its community. Over the past year, in addition to adopting new policies and procedures for the Company itself, LTC initiated programs to assist the operators of its properties in identifying and implementing sustainable business solutions that positively benefit the environment and society, as well as their financial sustainability.
Selected activities to date for each of the primary ESG categories include:
- Began “greening” new and amended operator leases and enhanced underwriting criteria to include ESG;
- Implemented third-party tools for analyzing, tracking, and reporting environmental data; and
- Purchased carbon offsets for employee travel and corporate headquarters.
- Adopted and published a Human and Labor Rights Policy and Human Capital Policy;
- Conducted employee engagement surveys to solicit input on a wide range of workplace topics; and
- Adopted select United Nations Sustainable Development Goals.
- Established a Board-level ESG Committee and internal ESG working group;
- Augmented its proxy disclosure to highlight ESG initiatives; and
- Enhanced its Cybersecurity policy, monitoring, disclosure, and training.
Cornelia Cheng, an LTC Board member and Chair of its ESG Committee, commented, “We learned so much through our development of this report, allowing us to put into practice policies and procedures to further align the execution of our business strategy with ESG principles that are most relevant to our industry. In the coming year, we look forward to building on that which we have already achieved to measure and advance our commitment to people, planet and purpose.”
LTC noted several ongoing ESG initiatives including, among others, increasing energy efficiency, participation in the opt-in California Clean Power Alliance Program, ensuring an environment in which respect, collaboration, dignity, transparency are paramount, and enhancing governance practices among all stakeholders including employees, operators, investors, analysts, and industry.
“We value the diversity of the unique individuals who constitute our team – from entry level to senior level to our Board, seeking out and embracing individuals who bring diverse thoughts, backgrounds, skill sets, experiences, and talents. These unique perspectives have guided us and led us to explore new opportunities,” said Wendy Simpson, LTC’s Chairman and CEO. “From an operator perspective, LTC is focused on creating healthy environments where they can best provide the services their residents need to live their best lives. For LTC, operating with the highest standards of ethics and integrity has always been a core tenet of our culture and business, and we plan to continue on a path that allows us to steadfastly move in the right direction with a strong sense of hope and purpose for the future for us and all of our stakeholders.”
LTC’s ESG report is available online at www.ltcreit.com/esg-report/.
About LTC Properties
LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC’s investment portfolio includes 213 properties in 29 states with 31 operating partners. Based on its gross real estate investments, LTC’s investment portfolio is comprised of approximately 50% seniors housing and 50% skilled nursing properties. Learn more at www.LTCreit.com.
This press release includes statements that are not purely historical and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Company’s expectations, beliefs, intentions or strategies regarding the future. All statements other than historical facts contained in this press release are forward looking statements. These forward-looking statements involve a number of risks and uncertainties. All forward looking statements included in this press release are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such forward looking statements. Although the Company’s management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements.
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