Company: GTY
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0001140361-25-008521
Chunk: 11

Company: GETTY REALTY CORP /MD/
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 11
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, in-office team-building challenges, holiday celebrations, museum visits, indoor and outdoor tourist attractions, a book club, and other activities. We believe our social engagement efforts provide an enjoyable and rewarding environment for our team to engage professionally and personally and further enhance the employee experience. Environmental Stewardship As an organization, we place a high priority on the protection of our assets, communities, and the environment. We employ full-time environmental experts who perform due diligence to support our investment activity and actively manage a program to oversee legacy environmental remediation for which we are responsible. In addition, our leases require tenants to comply with environmental laws and regulations, and, for operations with environmental susceptibility, to have insurance to protect against environmental impacts that arise during their tenancy. We also emphasize sustainability at our corporate headquarters where we utilize energy-efficient computer equipment, filtered water machines and timed or sensor-controlled HVAC and lighting systems, among other sustainability practices. Environmental Due Diligence Our acquisition due diligence process entails a comprehensive environmental review and analysis, which incorporates environmental site assessments (Phase I) to assess the environmental condition of properties under consideration for investment. This examination includes identification of actual and potential release of hazardous substances, chemical or waste storage, and other environmental concerns or risks. Additionally, it involves evaluating whether the property and the operations thereon comply with environmental standards. As further guided by the results of our climate risk assessment, we evaluate the physical risk profile of a considered asset and plan to incorporate a climate-related risk index component into our environmental due diligence underwriting process to ensure we understand and account for potential future climate-related risks prior to acquiring a property. We will not acquire a property unless we are satisfied with the results of our environmental due diligence and, once closed, our leases require our tenants to comply with all environmental laws, rules and regulations. Environmental Compliance Our properties are leased to tenants under triple-net leases which make tenants contractually responsible for compliance with environmental laws and regulations and for remediation of all environmental contamination that arises from their occupancy, and, in most cases, that may be discovered during their occupancy even if it pre-dated their occupancy. We take appropriate measures, including enforcement when necessary, to ensure that our tenants comply with these contractual provisions for the benefit of the environment. Our leases also require tenants who conduct environmentally susceptible operations to have pollution insurance, and we separately maintain additional pollution coverage throughout our portfolio for properties with higher environmental risk exposure. In addition, we maintain a dedicated team to actively manage a program to oversee legacy environmental remediation for which we may be held responsible, including