ESG

At INDUS, we are committed to building a sustainable future. We realize the impact we have on the communities we serve and are actively implementing thoughtful, sustainable practices that span the realms of environmental stewardship, social responsibility, and good corporate governance. We believe that an ESG-focused strategy not only benefits our communities but also our business.

We believe that environmental stewardship strengthens our portfolio by attracting high-quality tenants, creating competitive advantages, minimizing risk, and maximizing returns. To formalize our practices and set some new goals for thoughtful property development, we have implemented a Sustainable Construction and Development Policy, which is reviewed annually. In 2021, we began onboarding an environmental data management system to track utility metrics and usage across our portfolio to better understand and reduce our environmental footprint. In 2022, we launched an LED Lighting Upgrade program for tenants, and in 2023 we began the installation of the first solar arrays in our portfolio on two buildings in Connecticut. We continue to seek opportunities to improve both our buildings and the tenant experience through collaborative efforts and sustainable enhancements.

We believe that we have the opportunity to enhance our financial and operational performance through socially responsible employee, supplier and vendor policies, community engagement, and by increasing our efforts related to diversity, equity and inclusion. As an equal-opportunity employer, we value diversity and inclusion and reward our employees based on merit and individual contributions. We comply with all applicable labor rights laws and seek partnerships with vendors and suppliers who share our commitment.

Thoughtful corporate governance and stakeholder engagement provide the foundation for INDUS’ success by building positive and long-term relationships with our constituents, including investors, partners, tenants, employees, and our local communities. Our employees adhere to a comprehensive Code of Business Conduct and Ethics that promotes honesty, accountability, integrity, and mutual respect and provides safe channels for handling ethical issues and concerns.

Our commitment to sustainability has led to recognition within our industry. In 2023, we were named a 2023 Green Lease Leader at the Gold Level by the Institute for Market Transformation and Better Buildings. Gold recognition acknowledges our establishment of policies and practices that promote sustainability in leased spaces.

Additionally, in early 2023, INDUS was honored with the “Great Employers in Connecticut” award by the Best Companies Group, a research firm focused on workplace excellence. This award recognizes companies that have created outstanding workplace environments, based on employee feedback, company policies, and overall satisfaction.

As we continue to build out our ESG programs and implement new policies and procedures, we look forward to sharing our ongoing progress with you. We are also committed to remaining engaged with all of our constituents – from tenants to employees to the communities in which we do business – and welcome opportunities for feedback on our efforts.

Latest ESG Report

Read our first ESG report to learn the many ways in which INDUS is committed to expanding our environmental and social impact within our communities.

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Oversight of Our ESG Practices

We have an internal ESG Committee comprised of representatives from various areas within our business, such as Capital Markets and Asset Management, Construction and Development, Acquisitions, Property Management, Portfolio Management and Leasing, Finance, Human Resources and Legal.

The committee meets on a quarterly basis and is directly responsible for identifying, implementing, and monitoring sustainable initiatives across our portfolio. Our focus is on enhancing tenant and employee engagement and wellness while also reviewing and recommending improved governance practices, policies, and programs to be implemented at INDUS.

Stakeholder Engagement

Employee Engagement & Workplace Improvements

In 2022, we conducted an employee engagement survey through a third-party organization to assess various aspects of our company, including culture, employee engagement, and overall job satisfaction. We sought feedback from our employees on their work, the work environment, benefits packages, and their relationships with management.

Recognizing the valuable insights our employees can provide, we have taken several steps in response to the survey results:

Annual Employee Training Program: We’ve implemented a formal, annual employee training program covering a wide range of topics, such as Diversity and Inclusion, Anti-Bribery and Anti-Corruption, Data Privacy and Information Security, and ESG, among others.
New Corporate Office Space: Our recently opened corporate office space in Bloomfield, CT, has been designed with a strong focus on sustainability and employee well-being. It incorporates feedback from our team members on various aspects, including department adjacencies, noise levels, and preferred furniture choices.

These initiatives demonstrate our commitment to enhancing workplace culture and addressing the concerns and preferences of our valued employees.

In response to employee feedback, we have implemented:

A Charitable Giving Policy, which provides for corporate donation matching of employee gifts as well as eight hours of paid time per employee per year for volunteer activities
A Wellness Reimbursement Policy to encourage employees to participate in activities that positively impact their quality of life
An Education Reimbursement Policy to support employees in the pursuit of higher education and additional learning opportunities
Quarterly Employee Appreciation Lunches to demonstrate our gratitude and reinforce our commitment to creating a positive and supportive work environment

For more information on our complete offering of Employee Benefits, please see our Employee Benefits Summary.

In 2022, INDUS established the Employee & Community Engagement Committee (ECEC), a voluntary employee-run committee established with the purpose of enhancing the health and well-being of employees, tenants, and our communities. Since its inception, the committee has made significant contributions, including monitoring and improving employee satisfaction, advancing diversity, equity, and inclusion (DEI) initiatives, supporting charitable causes, and organizing engagement events.

Tenants & Community

At INDUS, our commitment to building lasting relationships with our tenants extends across our buildings and markets, and we seek to create an environment that encourages long-term tenancy. We regularly organize tenant engagement events, ranging from BBQ's, tenant picnics, golf and bowling events to blood drives, and holiday cookie deliveries.

In 2022, INDUS conducted a tenant survey to understand current demands and evolving needs. We've collaborated with tenants to highlight the importance of sustainability in our buildings, encouraging their participation in tracking water, gas and electricity usage across our portfolio. Upon reaching a minimum threshold of utility data, we intend to assess opportunities for capital improvement projects that enhance building efficiency while offering potential cost savings to tenants.

In alignment with our tenant engagement efforts, INDUS introduced a tenant-only web portal at the start of 2023. This portal provides tenants with a variety of resources and valuable information, including our tenant sustainability guide, tenant handbook, and property management contact information.

UN SDG	Goals	INDUS INITIATIVES / PROGRESS
	Be of Service to Our Communities	Implemented Charitable Donation Matching Program Instituted one additional PTO day per year for employees to use for volunteer efforts of their choice Provided ongoing corporate support to local community organizations in regions where we do business Participated in a corporate volunteer day at CT Foodshare
	Enhance Employee Well-Being	Implemented wellness & fitness reimbursement policy for employees to participate in the wellness-oriented activities of their choice Ongoing evaluation of employee benefit plan best practices Redesigned our Bloomfield, CT office to support our focus on wellness and sustainability Established Employee & Community Engagement Committee Achieved Best Place to Work in Connecticut award from Best Companies Group for 2023
	Improve Gender-Balanced Representation and Hiring Practices	Achieve 50% women and/or self-identifying minorities in corporate office positions over time As of 12/31/2022, women and/or a self-identifying minority make up 33% of INDUS’ employees Became signatories of the UN Women’s Empowerment Program and CEO Action for Diversity & Inclusion
	Increase Water-Use Efficiency	To conserve water, all new developments feature best management practices for irrigation and landscaping based on local climates and municipal regulations Install low-flow technology for faucets and toilets Goal to increase data collection efforts on water usage at INDUS properties
	Install Electric Vehicle Charging Stations and Install Solar Panels	For each new development property beginning in 2022, install at least one Level 2 (208-240 Volt AC power) or higher electric vehicle charging station (with capacity for at least two vehicles to charge on-site simultaneously) Approved to install solar panels at two sites in CT in 2022 All newly developed buildings to have load-bearing capacity to accommodate solar panels on roofs
	Prioritize Energy & Utility Conservation	As of 12/31/2022, 58% of INDUS’ industrial/logistics square footage was covered by LED lighting Rolled out LED Lighting Energy Efficiency Program (LEEP) to tenants All new developments will feature 100% LED lighting by default
	Promote Diversity Focused Hiring and Training Programs	Develop and maintain hiring and management practices that promote racial equality All open positions must interview diverse candidates Achieve 100% employee participation annually in Diversity Training
	Create Community-Driven Amenities	Continue investments in community amenities with new development projects such as improved roads & infrastructure as part of the development process, access to public transit, addition of public green spaces