As ESG grows in importance, most REITs are ahead of the curve in adopting best practices. Whether it be energy efficient buildings, diverse boards, or sustainably sourced power, the REIT industry has been a leader in the move toward more sustainable business practices.
Source: Nareit | Re-Post Serenity Alt 11/20/19
The broadening scope of ESG issues and the role that REITs play in advancing that agenda was on display throughout REITworld 2019 in Los Angeles last week, including sessions focused on the latest in ESG developments and lessons from leaders and award winners active in REIT diversity and inclusion matters. Nareit also presented its annual and inaugural.
The ESG session, moderated by Sara Neff, senior vice president, sustainability, at Kilroy Realty Corp. , included representatives from some of the 2019 Nareit Leader in the Light award-winning REITs: Aaron Binkley, senior director of sustainability at Digital Realty Trust, Inc. ; Daniel Egan, senior vice president, energy & sustainability, at Vornado Realty Trust ; Kevin Hagen, vice president, ESG strategy, at Iron Mountain Inc. ; Ben Myers, director of sustainability at Boston Properties, Inc. ; and Will Teichman, vice president of business operations at Kimco Realty Corp.
The panel discussed some of the areas where they will be focused on in 2020. Teichman highlighted the importance of diversity and inclusion; and Neff, meanwhile, pointed out that the REIT industry needs to tell its story regarding the social component of ESG. That has led to passive investors that are interested in ESG skipping over the industry, she said.