2022 Sustainability Report

Contributors

Jason McIntyre
Director, Real Estate Operations and Sustainability

Pete McLaughlin
Executive Managing Director, Co-COO

Jeanne Garza
Information Director, Office of COO

December 2022

Executive Summary

USAA Real Estate is proud to present this 2022 Sustainability Report. This Report outlines key details of our sustainability strategy while focusing on the value creation achievements within our commercial real estate (CRE) portfolio. Our portfolio includes real estate assets across 9 countries. Our initiatives and accomplishments are highlighted, and we’ve included real-world case studies that quantify the impact of our sustainable investment practices. Furthermore, particularly in the wake of COVID-19, we provide our view on the role that sustainability can play within the CRE industry, both today and in the future. 

Certain Environment, Social and Governance (ESG) factors may inform our investment decision-making but not all of them are mandatory touchpoints on every investment decision, nor do they dictate or limit our investment strategies or investment selections. We aim to be transparent through our measurement metrics and disclosure. We avoid hard targets or absolute statements that could limit our investment parameters or potentially mislead any stakeholders. Longer term, we are very excited to see the topic settle into a more mature phase. 

The following questions provide a framework for the discussion regarding sustainability: 

  1. What does Sustainability mean to USAA Real Estate? 
  2. How has ESG evolved in recent years? 
  3. How does the CRE industry measure ESG implementation? 
  4. How do we believe sustainability and CRE will evolve in the future?