First Telecommunications Tower Company in the World to Realize 100% Carbon Neutrality
Further Underscores Colony Capital’s Commitment to ESG
LOS ANGELES--(BUSINESS WIRE)--Jun. 10, 2020-- Colony Capital, Inc., (NYSE: CLNY) (“Colony Capital” or the “Company”), a leading global investment management firm, today announced that Vertical Bridge REIT, LLC ("Vertical Bridge"), the largest private owner and operator of communications infrastructure in the United States and a portfolio company of Digital Colony, the digital infrastructure investment platform of Colony Capital, has reached its goal of becoming 100% carbon neutral.
This milestone marks Vertical Bridge’s unprecedented step in the communications infrastructure sector, as it is the first telecommunications tower company in the world to reach net zero emissions. With this accomplishment, Vertical Bridge is now officially a certified CarbonNeutral® company in accordance with The CarbonNeutral Protocol, the leading global framework for carbon neutrality. This was achieved by Vertical Bridge undertaking thorough assessments of its carbon footprint in partnership with Natural Capital Partners, leading experts on carbon neutrality and climate finance.
Vertical Bridge’s carbon-neutral certification further highlights Colony Capital’s dedication to environmental, social and governance (“ESG”) initiatives at both the Company and asset level. Additionally, Colony Capital recently became a signatory to the United Nations Principles for Responsible Investment (“PRI”), holding the Company accountable for working directly with its portfolio companies to advance ESG performance and providing a framework for integrating ESG principles into ownership practices and investment processes.
Colony Capital is committed to promoting ESG initiatives at the firm and portfolio company level and Vertical Bridge becoming 100% carbon neutral sets an incredibly important precedent for not only our companies but the communications infrastructure sector as a whole,” said Marc Ganzi, CEO of Digital Colony, CEO-elect of Colony Capital and Executive Chairman of Vertical Bridge. “I started implementing ESG policies at our first tower company over 10 years ago, and am proud to say that this vision has transcended the way my teams choose to invest and operate.
About Colony Capital
Colony Capital, Inc. (NYSE: CLNY) is a leading global investment firm with a heritage of identifying and capitalizing on key secular trends in real estate. The Company manages a $50 billion portfolio of real assets on behalf of its shareholders and limited partners, including over $20 billion in digital real estate investments through Digital Colony, its digital infrastructure platform. Colony Capital, structured as a REIT, is headquartered in Los Angeles with key offices in Boca Raton, New York, and London, and has over 350 employees across 20 locations in 12 countries. For more information on Colony visit www.clny.com.
About Vertical Bridge
Vertical Bridge REIT, LLC is the largest private owner and operator of communications infrastructure and locations in the United States. The Company owns, operates and master leases over 269,000 tower, rooftop, billboard, utility attachment and other site locations in support of wireless network deployments. Based in Boca Raton, Florida, Vertical Bridge was founded in 2014 by key executives from Digital Bridge Holdings, LLC and former senior officers of Global Tower Partners. The senior management team at Vertical Bridge has over 200 years of collective experience in tower infrastructure and related sectors. For more information, please visit www.verticalbridge.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Additional information about these and other factors can be found in Colony Capital's Annual Report on Form 10-K for the year ended December 31, 2019, Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and its other reports filed from time to time with the Securities and Exchange Commission. Colony Capital cautions investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release. Colony Capital is under no duty to update any of these forward-looking statements after the date of this press release, nor to conform prior statements to actual results or revised expectations, and Colony Capital does not intend to do so.
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Colony Capital Media:
Joele Frank, Wilkinson Brimmer Katcher
Jon Keehner / Julie Oakes
Vertical Bridge Media:
Kerri Donner, Stanton
Source: Colony Capital, Inc.