FEBRUARY 29, 2024

Tridel Unveils 2023 ESG Report

Tridel, one of Canada's leading condominium builders, is proud to announce the release of its latest Environmental, Social, and Governance (ESG) Report, “Building with Purpose,” demonstrating its commitment to sustainability, community engagement, and corporate responsibility.

Charting a Sustainable Path Forward

Tridel has set ambitious targets to reduce its environmental footprint. By 2030, the company aims to reduce its scope 1-, 2-, and 3-emissions by 30%, 30%, and 20%, respectively, and by 90% by 2050, compared to a baseline established last year. This commitment highlights Tridel's dedication to working towards a near-net-zero future and leading the industry in environmental stewardship.

“The company’s commitment to building a sustainable future and fostering positive change is unwavering. Our latest ESG Report reflects our dedication to making a meaningful impact on the environment, society, and the well-being of our employees and the communities where we build,” says Jim Ritchie, President, Tridel. “As we celebrate 90 years as a homebuilder this year, we reflect on our legacy of excellence, innovation, and growth. This milestone reminds us of our journey's significance and inspires us to anticipate the future, acknowledging our achievements while embracing the evolving business landscape and our responsibility to shape a better tomorrow."

Beyond making a positive environmental impact, Tridel is invested in supporting communities and promoting social well-being.

Building on the company’s Built for Respect mandate, which promotes the principles of diversity, equity, and inclusion within and beyond the organization, the company released its first Indigenous Reconciliation Action Plan in June 2023. Tridel is the first private homebuilder in Ontario to publish an action plan. This plan was developed with the support of Indigenous-led businesses and artists and outlines how the company will begin their reconciliation journey with Indigenous peoples. Progress towards commitments will be shared annually in future ESG Reports.

Tridel prioritizes the mental health and well-being of its employees. The company announced their plans to train people leaders in core concepts of mental health and addiction in collaboration with the Centre for Addiction and Mental Health (CAMH), an initiative endorsed by RESCON and the Honourable Stephen Lecce, Minister of Education for the province of Ontario. To date, 97% of on-site managers have completed training, demonstrating Tridel's commitment to fostering a supportive workplace environment. Tridel was one of the first construction companies to equip all job sites with Naloxone kits and provide training on its administration.

The company continues to lead the industry in community economic development and engagement through contributions to charitable and grassroots organizations, donating over $560,000 during the reporting period. Tridel made additional investments in scholarship programs for marginalized individuals, awarding over $75,000 in financial awards through agencies and programs such as Indspire’s Building Brighter Futures, Toronto Community Housing’s Investing in Our Diversity Scholarship, and the newly created Alexandra Park Scholarship. Tridel’s Social Impact team, with the support of the BOLT Foundation, also facilitated the employment of 39 equity-deserving individuals within the organization and their network of trades and suppliers. These investments demonstrate Tridel’s commitment to empowering the communities where they build by furthering educational and employment opportunities for residents, enhancing community well-being, fostering inclusivity, and driving positive change.

For more information on Tridel’s ESG initiatives, please visit this link.