Nareit leadership, including President & CEO Steve Wechsler, Senior Vice President of Environmental Stewardship & Sustainability Jessica Long, and Senior Vice President of Social Responsibility & Global Initiatives Ayris Scales announced the recipients of Nareit’s Sustainability and Diversity Impact Awards at the REITworks: 2024 Sustainability & Social Responsibility Conference in September.
At the awards luncheon, recipients shared their projects, programs, and initiatives that have helped meaningfully move the needle on reducing environmental impacts and advancing inclusive practices within their companies, real estate portfolios, and the commercial real estate industry.
Read on for details on the projects and initiatives each company was recognized for and click through the links to learn more about each company and their upcoming sustainability initiatives.
Sustainability Impact Awards
The Sustainability Impact Awards include three categories focused on projects and programs related to design, operational practices, and industry leadership.
The Sustainable Design Award recognizes architecture and engineering strategies that reduce environmental impact through smart design, new building development, or retrofitting of existing buildings. The 2024 recipients are:
Alexandria Real Estate Equities, Inc. (NYSE: ARE) received its award for utilizing alternative energy sources such as geothermal energy and wastewater heat recovery systems to reduce operational greenhouse gas emissions in laboratory development projects in its Greater Boston and Seattle markets. Learn more about the projects.
BXP, Inc. (NYSE: BXP) received its award for 140 Kendrick Building A, which is the first net zero, carbon neutral office repositioning of its scale in Massachusetts. Learn more in this video interview with BXP’s Ben Myers.
Digital Realty (Nasdaq: DLR) earned its award for developing an artificial intelligence platform to improve energy efficiency and improve Power Usage Effectiveness (PUE). Learn more in this video interview with Digital Realty’s Sormeh McCullough.
The Impact at Scale Award recognizes operational policies implemented across a building portfolio that advance corporate sustainability goals and achieve broad and measurable impact. The 2024 recipients are:
JBG SMITH (NYSE: JBGS) received its award for fostering economic growth and promoting social equity through a series of intentional projects and partnerships that are "Transforming Tomorrow at National Landing." Learn more about what’s happening at National Landing.
Ventas, Inc. (NYSE: VTR) received its award for its innovative and scalable approach toward creating property-specific net zero roadmaps by using machine learning, AI, and physics-based modeling. Learn more in this video interview with Ventas’ Kelly Meissner.
Vornado Realty Trust (NYSE: VNO) received its award for setting a new standard for the modern, sustainable workplace through its transformation of THE PENN DISTRICT. Learn more in this video interview with Vornado’s Lauren Moss.
The Sustainable Leadership Award honors an individual REIT employee who creates a positive influence within their organization and across the REIT industry or community at-large.
The 2024 recipient is Elena Alschuler, head of sustainability, Americas, for JLL Income Property Trust, who was recognized for her leadership in decarbonization of the built environment and other sustainability-related issues, her role as Chair for the CRREM North America Working Group, and her collaboration with industry peers, knowledge sharing, and advocacy work. Learn more about Alschuler in this interview recorded at REITworks 2024.
Diversity Impact Awards
The sixth annual Diversity Impact Awards recognize Nareit member companies that are implementing, measuring, and expanding impactful policies and practices that create opportunities for all employees and business partners within their companies and supply chains.
The 2024 Diversity Impact Award recipients are:
Large Cap: Host Hotels & Resorts, Inc. (Nasdaq: HST)
Mari Sifo, executive vice president and chief human resource officer at Host, explained that the achievement was not the result of a single year's work, but rather the culmination of several years of strategic planning and program development. Host focused on creating a sense of belonging, ensuring employees could contribute meaningfully to both their work and the broader community. Learn more from Sifo in a video interview.
Mid Cap: Veris Residential, Inc. (NYSE: VRE)
Karen Cusmano, senior vice president and head of sustainability and ESG at Veris Residential, explained that the REIT has worked to integrate D&I deeply into its corporate structure, notably beginning with a board reconstitution and formation of an ESG committee in 2020.
“We have a saying at Veris that we embrace our differences while finding commonalities,” Cusmano said, emphasizing that this ethos is core to the REIT’s operations. Learn more from a video interview with Cusmano.
Small Cap: Chatham Lodging Trust (NYSE: CLDT)
Eric Kentoff, senior vice president, general counsel, and secretary at Chatham Lodging Trust, shared insights into the company's strides in diversity, equity, and inclusion, which culminated in their recent Nareit award win. He highlighted the importance of board buy-in in driving these changes, emphasizing how their board's commitment to becoming more diverse in age, race, gender, and experience laid the foundation for broader company initiatives. Learn more in a video interview with Kentoff.
Honorable Mention: Sun Communities, Inc. (NYSE: SUI)
April Buford, director, diversity, equity, and inclusion at Sun Communities, said that the REIT has woven diversity, equity, and inclusion into its core culture by shifting its approach to ensure DEI is a strategic, ongoing commitment, not a mere one-off initiative.
Buford highlighted Sun’s innovative change in perspective on cultural values: “Once we can flip that DEI lens onto those culture statements, it makes a whole lot of sense, and we were able to do a lot of initiatives from that flip.” Learn more in a video interview with Buford.