Agree Realty, a real estate investment trust, has released its ESG report for 2022, outlining its commitment to measuring and reducing its environmental impact. Agree Realty's latest filings mentioned the keywords 'Emissions' and 'Climate Change' most number of times.

In 2022, the company reported its Scope 1 and 2 emissions intensity at 0.0029 metric tons per square foot and Scope 3 at 0.0086 metric tons per square foot. The company has identified climate-related risks, including physical risks such as cyclones, hurricanes, and floods, and transition risks such as increased emissions-related reporting requirements and exposure to climate-related litigation.

Agree Realty has taken steps to reduce its emissions, including executing several green leases with tenants, resulting in the achievement of Gold Level recognition from the Green Lease Leaders organization. The company has also enhanced its due diligence process to include an evaluation of prospective tenants' ESG policies. Agree Realty has worked with its third-party consultant to conduct a complete Scope 1 and 2 greenhouse gas emissions inventory and calculate its Scope 3 downstream leased assets emissions using tenant data. The company has started tracking common area water usage across the portfolio.

Agree Realty's largest source of greenhouse gas emissions is the Scope 3 category derived from downstream leased assets, or the emissions at the property level from tenant use Category 13 as defined by the GHG Protocol. It has identified at least 35 properties in its portfolio with a LEED certification, ENERGY STAR certification, or other green building certifications. The company has delivered on its 2022 initiatives, including executing 11 leases with green lease clauses and increasing dialogue with tenants by reaching out to over 50% of its portfolio as measured by annualized base rent. The company has also worked with its relationship convenience store tenants to amend leases and allow for the installation of EV charging stations.

In conclusion, Agree Realty's ESG report for 2022 highlights its strong commitment to environmental impact reduction through green leases, enhanced due diligence, and tracking greenhouse gas emissions.

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