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What is the status of Orion’s development of its ESG strategies and initiatives?
Orion is in the initial stages of developing its ESG strategies and initiatives. Orion is committed to making ESG an integral component of its long-term strategy for the success of the company, as well as the communities and tenants that Orion serves. Orion intends to collaborate with current tenants across its portfolio to implement ESG initiatives. Orion will also seek to acquire properties that further the ESG initiatives that are core to the company’s strategy. As part of its initial strategies and initiatives, Orion has adopted the following five policies to help further drive its commitments to ESG:
- Environmental, Social and Governance Policy (available here)
- Climate Change Policy (available here)
- Occupational Health and Safety Policy (available here)
- Human Capital Management Policy (available here)
- Diversity, Equity and Inclusion Policy (available here)
What are some of the ESG initiatives that Orion has implemented?
Environmental: Orion conducted a tenant survey to gather information regarding property specific environmental features for each property in Orion’s portfolio. This includes information regarding building certifications and ratings, transportation initiatives, renewable energy programs, energy efficiency initiatives, and water and waste initiatives.
Social: Orion has formed a new community outreach program, called O2. This initiative is intended to allow the Company to make an impact in its communities and our team members to support important causes that they are passionate about. As our initial undertaking under this new program, we are contributing time, money and non-perishable foods to 501(c)(3) non-profit organizations located in Phoenix and New York.
Governance: Orion has implemented strong corporate governance practices that promote accountability of our Board of Directors and management and the long-term interests of our stockholders. This includes Board level oversight of ESG matters. The Nominating and Corporate Governance Committee of Orion’s Board of Directors oversees ESG matters relating to Orion.
What role does the Orion Board play in the development of Orion’s ESG strategies and initiatives?
Orion’s Board of Directors plays an active role in the development of Orion’s ESG strategies and initiatives. The Nominating and Corporate Governance Committee (the “NCG Committee”) of the Orion Board of Directors oversees ESG matters relating to Orion, including climate change and related risks and diversity, equity and inclusion initiatives. To enable the fulfillment of these responsibilities, the NCG Committee periodically receives and discusses with management reports on Orion’s ESG management, strategy, disclosures, initiatives and policies.
What steps has Orion taken to promote diversity, equity and inclusion (DEI)?
Orion is committed to addressing DEI matters within its business, with respect to its Board of Directors, officers, and employees. The composition of the Company’s Board of Directors reflects the high priority Orion places on diversity of background. The Company believes that the diversity of our employees’ backgrounds, experiences, and perspectives adds value to our team and sets us up for success. The Company monitors DEI statistics of its workforce, including by gender and race and comparison with industry and national percentages, and periodically reports these statistics to the Board of Directors. As part of its commitment to addressing DEI matters, Orion has adopted a DEI policy. See the following link for more information.
Does Orion provide training and education opportunities to employees?
The Company’s training and education initiatives are essential to supporting the career paths and growth of its employees. Orion conducts periodic internal training sessions led by department heads to support employee understanding of the Company strategy and to build cross-functional talent. The Company also encourages employees to pursue job-specific training and offer networking and education opportunities through membership in industry associations, such as Nareit. The Company has established a team member training program to foster employee development and experience. Among other topics, the training program includes diversity, equity, inclusion (DEI) and anti-harassment training.
What role do ethical considerations play in how Orion operates?
Orion is committed to conducting business with integrity. This core value is embedded in Orion’s culture and reflected in its commitment to conducting all its activities in accordance with the highest ethical standards, sound corporate governance policies, and in compliance with all legal and regulatory requirements, including all local, state, and federal environmental-related legislation and regulations. Similarly, Orion expects its vendors and third-party providers to also comply with all relevant environmental legislation and regulations.