While acting as a fiduciary and producing attractive risk-adjusted returns for investors is our primary objective, Woodbourne believes there may be lasting benefits to incorporating ESG principles broadly into our business practices. ESG initiatives have the potential to augment property-level marketing and leasing efforts, increase employee morale, create operating efficiencies, enhance returns, and provide additional safety, stability, resilience, and durability to our projects. Woodbourne attempts to foster a culture in which ESG considerations are incorporated into our processes. As an owner, developer, and operator of real estate properties, Woodbourne and its employees understand the importance of responsible investing guided by structured and thoughtful protocols that help shape the firm’s impact on stakeholders. The firm views ESG initiatives as an important input for decision-making at both the corporate and investment levels.