Letter from Our President and CEO

RMR’s reputation for integrity and high performance is rooted in an understanding that sustainability and value creation go hand in hand. Caring for our clients and their tenants, residents and guests, minimizing our environmental impact, developing our workforce in an inclusive environment and embracing the communities where we operate are all critical to our long term success.

As we continue to invest in ESG, we continue to evolve and improve. One of our most important initiatives in 2021 was the articulation of RMR’s Mission, Vision and Values. We believe this effort unites our employees around a shared purpose, a common goal, and a set of beliefs and behaviors to guide our actions. Our new mission statement, “To create long term value for our clients by managing their investments and assets ‘like we own it’,” embodies what differentiates us from our peers.

A second major highlight in 2021 was the introduction of RMR’s Zero Emissions Promise. For all properties where we directly manage energy, RMR is committing to a goal of net zero emissions by 2050 and a 50% reduction by 2030 from a 2019 baseline. Our new emissions targets are science based and are internationally recognized corporate benchmarks, as is the Greenhouse Gas Protocol Corporate Standard we now use to calculate our emissions.

This year we also advanced several other important policies and programs. We took steps to strengthen our reporting in accordance with the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations and expanded the role of ESG in our acquisitions process, including by incorporating in our diligence process a review of transitional and physical climate assessment, among other ESG aspects.

In our workplace, we continued to build on programs that support employee engagement, education and training, such as the LiveWell Employee Wellness Program and our tuition reimbursement program, and also programs that foster a culture of Diversity, Equity & Inclusion (DE&I), such as the Accelerated Women in Leadership Program, our Analyst Conversion Program and the Next Generation Executive program. In our communities, we spearheaded a nationwide blood drive and encouraged and amplified our employees’ service efforts with matching charitable contributions to organizations addressing food insecurity, poverty and homelessness, among other causes. For the first time, RMR coordinated an E-waste event at 16 locations across our portfolio and collected 19,150 pounds of electronic waste that will be diverted from landfills and recycled responsibly.

Finally, we are proud of the many honors we received this year from organizations, including the Institute of Real Estate Management (IREM), the Building Owners and Managers Association (BOMA), the Environmental Protection Agency (EPA) and The Boston Globe. We believe this recognition validates our efforts and motivates us to keep moving forward “like we own it.”

Adam Portnoy
Chair of the Board, Managing Director,
President and Chief Executive Officer