Health Care REIT Inc. (HCN: 43.96 -0.16 -0.36%) has recently extended its pledge toward sustainable business practices by becoming a “Partner” in ENERGY STAR, a joint program of the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy, to protect the environment through energy-efficient products and practices.This strategic initiative should enable the company to lower the cost of occupancy for its clients by improving the efficiency of its buildings and facilities and implementing energy-savings procedures. Health Care REIT is also participating in the ENERGY STAR Challenge, which envisions an energy efficiency improvement of 10% or more for over five million commercial and industrial buildings across the U.S.
The tactical move has become all the more necessary as companies are now subjected to strict environment policies, which have become more stringent in recent years. Almost all the companies have to adhere to all the state laws and regulations and incur significant expenditures to minimize the adverse effect on the environment, failing which they could face severe penalties.
Research reports from EPA further point out that the U.S. greenhouse gas emissions have increased by 14% from 1990 to 2008. By pledging its commitment towards ENERGY STAR Challenge, Health Care REIT would help minimize the carbon footprint on one hand and save money on the other.
Health Care REIT invests across the full spectrum of senior housing and healthcare real estate properties. Headquartered in Toledo, Ohio, the company also provides an extensive array of property management and development services.
Founded in 1970, the company was the first REIT to invest exclusively in healthcare facilities. Health Care REIT provides senior housing operators and healthcare systems with a single source for facility planning, design and turn-key development, property management, and monetization or expansion of existing real estate.
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