Cousins Properties Incorporated : 2021 ESG Report







2021 ESG REPORT

BRINGING PEOPLE TOGETHER

A Message From Our CEO Overview Environmental Sustainability

Social Sustainability Governance Data Tables Appendix

Since 1958, we have recognized that a commitment to thoughtful and responsible operations, with a sustainable model that prioritizes corporate social responsibility, creates meaningful value for

all stakeholders.

A Message From Our CEO Overview Environmental Sustainability

Social Sustainability Governance Data Tables Appendix

DISCLAIMER

Certain matters contained in this report are “forward-looking statements” within the meaning of the federal securities laws and are subject to uncertainties and risks, as itemized in Item 1A included in the Annual Report on Form 10-K for the year ended December 31, 2021, and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2022. These forward-looking statements include information about possible or assumed future results of the business and our financial condition, liquidity, results of operations, plans, and objectives. They also include, among other things, statements regarding subjects that are forward-looking by their nature, such as: guidance and underlying assumptions; business and financial strategy; future debt financings; future acquisitions and dispositions of operating assets or joint venture interests; future acquisitions and dispositions of land, including ground leases; future development and redevelopment opportunities, including fee development opportunities; future issuances and repurchases of common stock, limited partnership units, or preferred stock; future distributions; projected capital expenditures; market and industry trends; entry into new markets or changes in existing market concentrations; future changes in interest rates; and all statements that address operating performance, events, or developments that we expect or anticipate will occur in the future – including statements relating to creating value for stockholders.

Any forward-looking statements are based upon management’s beliefs, assumptions, and expectations of our future performance, taking into account information that is currently available. These beliefs, assumptions, and expectations may change as a result of possible events or factors, not all of which are known. If a change occurs, our business, financial condition, liquidity, and results of operations may vary materially from those expressed in forward-looking statements. Actual results may vary from forward-looking statements due to, but not limited to, the following: the availability and terms

of capital; the ability to refinance or repay indebtedness as it matures; the failure of purchase, sale, or other contracts to ultimately close; the failure to achieve anticipated benefits from acquisitions, investments, or dispositions; the potential dilutive effect of common stock or operating partnership unit issuances; the availability of buyers and pricing with respect to the disposition of assets; changes in national and local economic conditions, the real estate industry, and the commercial real estate markets in which we operate (including supply and demand changes), particularly in Atlanta, Austin, Charlotte, Phoenix, Tampa, Dallas, and Nashville, including the impact of high unemployment, volatility in the public equity and debt markets, and international economic and other conditions; the impact of a public health crisis, including the COVID-19 pandemic, and the governmental and third-party response to such a crisis, which may affect our key personnel, our tenants, and the costs of operating our assets; sociopolitical unrest such as political instability, civil unrest, armed hostilities, or political activism which may result in a disruption of day-to-day building operations; changes to our strategy in regard to our real estate assets which may require impairment to be recognized; leasing risks, including the ability to obtain new tenants or renew expiring tenants, the ability to lease newly developed and/or recently acquired space, the failure of a tenant to commence or complete tenant improvements on schedule or to occupy leased space, and the risk of declining leasing rates; changes in the needs of our tenants brought about by the desire for co-working arrangements, trends toward utilizing less office space per employee, and the effect of employees working remotely; any adverse change in the financial condition of one or more of our tenants; volatility in interest rates and insurance rates; inflation and continuing increases in the inflation rate; competition from other developers or investors; the risks associated with real estate developments (such as zoning approval, receipt of required permits, construction delays, cost overruns, and leasing risk); cyber security breaches; changes in senior management, changes in the Board of Directors, and the loss of key personnel; the potential liability for uninsured losses, condemnation, or environmental issues; the potential liability for a failure to meet regulatory requirements; the financial condition and liquidity of, or disputes with, joint venture partners; any failure to comply with debt covenants under credit agreements; any failure to continue to qualify for taxation as a real estate investment trust and meet regulatory requirements; potential changes to state, local, or federal regulations applicable to our business; material changes in the rates, or the ability to pay, dividends on common shares or other securities; potential changes to the tax laws impacting REITs and real estate in general; and those additional risks and factors discussed in reports filed with the Securities and Exchange Commission (“SEC”) by the Company.

The words “believes,” “expects,” “anticipates,” “estimates,” “plans,” “may,” “intend,” “will,” or similar expressions are intended to identify forward looking statements. Although we believe that our plans, intentions, and expectations reflected in any forward-looking statements are reasonable, we can give no assurance that such plans, intentions, or expectations will be achieved. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information, or otherwise, except as required under U.S. federal securities laws.

2

A Message From Our CEO Overview Environmental Sustainability

Social Sustainability Governance Data Tables Appendix

TABLE OF CONTENTS

4

A Message

Environmental Initiatives

From Our CEO

Corporate Office Practices

5-13

Overview

Third Party Benchmarking

Awards

About this Report

Accessibility Metrics

Corporate Overview

Climate Change and Resiliency

By the Numbers

Biodiversity

Buildings Across the Sun Belt

ESG Principles

31-44

Social Sustainability

Stakeholder Engagement

Cousins Culture

ESG Reporting Priorities

Commitment to Diversity,

14-30

Environmental

Inclusion, and Equal Opportunity

Human Capital

Sustainability

Goals and Progress: KPI Metrics

Professional Development

Health and Wellness

Goals and Progress: Building

Employee Engagement

Certifications

Civic Engagement

Environmental Management and

Certifications

Social Consciousness and

Maintaining Sustainable Assets

Civic Commitment

Inaugural Healthy Buildings

Certifications

Embracing Diversity in

Commercial Real Estate

Key Diversity Highlights

Giving Back

45-50Governance

Leadership

Governance Principles and

Practices

Governance Policies

and Ethics

51-56Data Tables

2021 Building Certifications

2021 Environmental

Performance

57-72Appendix

GRI Index

TCFD Disclosures

Spotlight:Electric Vehicle Charging – Read more on page 25

Spotlight:Water Reclamation – Read more on page 28

Spotlight:Urban Honeybees – Read more on page 30

Spotlight:The Arts – Read more on page 38

A Message From Our CEOOverview Environmental Sustainability

Social Sustainability Governance Data Tables Appendix

A MESSAGE FROM OUR CEO

“I’m proud that as the Company marked its 63rdyear, we have never been stronger.”

I’m proud that as the Company marked its 63rdyear, we have never been stronger. We are encouraged by our financial results, the momentum of national migration trends, and the power of the Sun Belt’s economy.

At Cousins, the health and safety of our customers and our employees are always our top priorities, and I am proud of our dedicated team that ably navigated the ongoing pandemic while consistently providing our customers with the same excellent service they expect from us every day. As I often say to our team: crises don’t build character, they reveal character.

We have been well-positioned to weather uncertain times with a simple, compelling strategy that enabled us to operate effectively throughout the year across the leading Sun Belt markets. We execute the strategy with four operating principles as our guide:

  • First, to assemble the premier trophy Sun Belt office portfolio.
  • Second, to be disciplined about capital allocation and to capture value embedded in our operating portfolio.
  • Third, to maintain abest-in-class balance sheet to execute attractive investment opportunities.
  • Fourth, to leverage our strong local operating platforms that take an entrepreneurial approach in our high- growth markets.

This report marks the Company’s fourth Environmental, Social, and Governance (ESG) report. Our ESG initiatives are at the foundation of what we do and how we operate our business. Cousins is committed to developing and acquiring high-quality assets, operating them responsibly, and seizing innovative improvements wherever possible.

As outlined in this report, we believe making a strong impact in the communities in which we operate is supportive of our overall success. Our employees are crucial to our success, and we are committed to fostering an inclusive culture that embraces diversity.

We are excited to share some of the highlights of our continued sustainability journey. At the same time, we are focused on the future and are working to enhance our record each year. I am so proud of our hardworking, talented, and flexible teams for their dedication and results.

Colin Connolly

President and Chief Executive Officer

Disclaimer

Cousins Properties Inc. published this content on 09 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2022 21:39:13 UTC.

Publicnow 2022

All news about COUSINS PROPERTIES INCORPORATED

Analyst Recommendations on COUSINS PROPERTIES INCORPORATED

Sales 2022 751 M

Net income 2022 127 M

Net Debt 2022 2 339 M

P/E ratio 2022 31,4x
Yield 2022 4,59%
Capitalization 4 220 M
4 220 M
EV / Sales 2022 8,73x
EV / Sales 2023 8,31x
Nbr of Employees 294
Free-Float 97,8%

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Income Statement Evolution

Sell

Buy

Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 27,87 $
Average target price 35,86 $
Spread / Average Target 28,7%


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