Affordable housing investor Kairos Investment Management Company is advancing its ESG initiatives in 2022. The firm has increased attention to reducing its carbon footprint and providing resident services to its low-income tenants. The two—which together make up the environmental and social elements of ESG, are equally important to the company's capital partners and residents, according to Jonathan Needell, president and chief investment officer of Kairos Investment Management Company.

"Over the last several years, stakeholders in the sector have become increasingly aware of their carbon footprint, particularly when looking at older buildings with water and electrical systems in multifamily properties," Needell tells GlobeSt.com. "Through our value-add strategy, KIMC continues to look for assets that can benefit from capital and operational improvements helping to decrease waste, pollution, and energy use."

Last year, the firm made significant strides in reducing the environmental impact of its communities, making improvements in water conservation, energy efficiency and waste reduction, according to Needell. As a result, KIMC reduced water usage by 36.7 million gallons and waster production by 728 cubic yards. "We also produced and saved over 700,000 kilowatt hours through investments in solar power and energy improvements," adds Needell.