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2019 ESG Report

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2019 ESG Report Cousins Properties 2019 ESG Report OUR COMMITMENT TO SUSTAINABILITY About this Report A Message from our CEO DISCLAIMER Corporate Overview This ESG Report contains “forward-looking statements” within the meaning of the federal securities laws and are subject to uncertainties and risks, as itemized in Item Our Value Creation Strategy 1A included in the Annual Report on Form 10-K for the year ended December 31, 2019 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and June 30, 2020. These forward-looking statements include, among other things, information concerning our sustainability strategies and objectives, including Our Sustainability Strategy projected cost savings, water usage, waste, energy consumption, building certifications, development and redevelopment activity, our goals and activities related to social and governance matters, including diversity and engagement, and, other forward-looking data. Any forward-looking statements are based upon management’s Our View of ESG beliefs, assumptions, and expectations of our future performance, initiatives and priorities, taking into account information that is currently available. These beliefs, assumptions, and expectations may change as a result of possible events or factors, not all of which are known. If a change occurs, our business, financial condition, Our ESG Priorities liquidity, and results of operations may vary materially from those expressed in forward-looking statements. Actual results may vary from forward-looking statements due to, but not limited to, the following: the availability and terms of capital; the ability to refinance or repay indebtedness as it matures; the failure of purchase, sale, Stakeholder Engagement or other contracts to ultimately close; the failure to achieve anticipated benefits from acquisitions, investments, or dispositions; the potential dilutive effect of common stock or operating partnership unit issuances; the availability of buyers and pricing with respect to the disposition of assets; changes in national and local economic Environmental Sustainability conditions, the real estate industry, and the commercial real estate markets in which we operate, particularly in Atlanta, Austin, Charlotte, Phoenix, Tampa, and Dallas, where we have high concentrations of lease revenues, including the impact of high unemployment, volatility in the public equity and debt markets, and international Social Sustainability economic and other conditions; the impact of a public health crisis, including the COVID-19 pandemic, and the governmental and third-party response to such a crisis, which may affect our key personnel, our major tenants, and the costs of operating our assets; the impact of social distancing, sheltering-in-place, border closings, travel Governance Sustainability restrictions, remote work requirements, and similar governmental and private measures taken to combat the spread of the COVID-19 pandemic on our operations and our tenants; changes to our strategy with regard to land and other non-core holdings that may require impairment losses to be recognized; leasing risks, including the Partnerships and Associations ability to obtain new tenants or renew expiring tenants, the ability to lease newly developed and/or recently acquired space, the failure of a tenant to occupy leased space, and the risk of declining leasing rates; changes in the needs of our tenants brought about by the desire for co-working arrangements, trends toward utilizing Building Certifications less office space per employee, and the effect of telecommuting; any adverse change in the financial condition of one or more of our tenants; volatility in interest rates and insurance rates; competition from other developers or investors; the risks associated with real estate developments (such as zoning approval, receipt of required GRI Index permits, construction delays, cost overruns, and leasing risk); cyber security breaches; changes in senior management, changes in the Board of Directors, and the loss of key personnel; the potential liability for uninsured losses, condemnation, or environmental issues; the potential liability for a failure to meet regulatory requirements; the financial condition and liquidity of, or disputes with, joint venture partners; any failure to comply with debt covenants under credit agreements; any failure to continue to qualify for taxation as a real estate investment trust (REIT) and meet regulatory requirements; potential changes to state, local, or federal regulations applicable to our business; material changes in the rates, or the ability to pay, dividends on common shares or other securities; potential changes to the tax laws impacting REITs and real estate in general; and those additional risks and factors discussed in reports filed with the Securities and Exchange Commission (SEC) by the Company. The words “believes,” “expects,” “anticipates,” “estimates,” “plans,” “may,” “intend,” “will,” or similar expressions are intended to identify forward-looking statements. Although we believe that our plans, intentions, and expectations reflected in any forward-looking statements are reasonable, we can give no assurance that such plans, intentions, or expectations will be achieved. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information, or otherwise, except as required under U.S. federal securities laws. 2019 ESG Report 1 About this Report A Message from our CEO ABOUT THIS REPORT Corporate Overview We’re pleased to present Cousins’ Environmental, Social, and Governance Our Value Creation Strategy (ESG) report. We have integrated ESG practices into our company from its very beginning, and we are proud to strengthen our achievements each Our Sustainability Strategy year. We believe it is our responsibility to minimize our impact on the environment through the buildings we own, manage, and develop. This year, Our View of ESG we have highlighted many of our key performance indicators, including Our ESG Priorities announcing our progress in like-for-like reductions. The content of this report is informed by the materiality analysis described Stakeholder Engagement in the Our View of ESG section and through ongoing conversations with our stakeholders. Environmental Sustainability As further detailed at the end of this report, this report’s approach, Social Sustainability structure, and content are aligned with Global Reporting Initiative (GRI) Standards (Core). Data relates to properties in our portfolio located in Governance Sustainability Atlanta, Austin, Charlotte, Phoenix, Tampa, and Dallas. Partnerships and Associations Calculation methodologies are noted where relevant. Unless otherwise noted, all data is as of December 31, 2019. For questions or comments Building Certifications about this report, please contact [email protected]. GRI Index Atlanta, Georgia 2019 ESG Report 2 About this Report A Message from our CEO A MESSAGE FROM OUR CEO Corporate Overview As I write this, we are witnessing undoubtedly extraordinary times. At For us, sustainability means creating and maintaining durable buildings Our Value Creation Strategy Cousins, the health and safety of our customers and our employees is our that are operated in an environmentally and socially responsible manner. top priority. Our dedicated team has provided our customers with the This approach not only encourages office users to select us for their Our Sustainability Strategy same excellent service they expect from us every day. I am so proud that in corporate operations, but also enhances the communities where our handling this especially difficult situation, Cousins has responded with grace. buildings are located. We believe strong financial returns are driven by Our View of ESG creating a positive impact in the communities in which we operate, and We are able to do this because we have planned and prepared that will always be a critical part of our success. As we look ahead, our Our ESG Priorities operationally and financially for an unforeseen disruption for many years. commitment to thoughtful and responsible management and operation of We have taken a disciplined approach to capital allocation, and today we our portfolio will remain a key component of our DNA. Stakeholder Engagement have one of the strongest balance sheets in the REIT sector. While COVID-19 inevitably will present some challenges to the commercial real estate sector, We are excited to share some of the highlights of our sustainability Environmental Sustainability our philosophy, which includes a commitment to Environmental, Social, and journey over the past year in this report. We have thoughtfully Governance (ESG), positions Cousins for long-term success. improved our environmental and social performance and enhanced Social Sustainability our governance measures. Last year we published our inaugural ESG report to document the work Governance Sustainability that is at the foundation of what we do and how we operate our business. Yet we realize the journey is not over as we strive to continually enhance our record. It is an honor to lead our team as we grow the preeminent Sun From the single-family residential communities built by our founder, Partnerships and Associations Belt office REIT. Tom Cousins, back when our company started in 1958, to the 1,023-foot Building Certifications skyscraper we completed 34 years later, we have always recognized that a commitment to sustainability and corporate
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