11/16/2016 | By Sarah Borchersen-Keto
On Nov. 16 at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT, NAREIT announced the nine winners of its annual Leader in the Light Awards. They honor NAREIT member companies that have demonstrated superior and sustained sustainability practices.
The awards were presented to U.S. Equity REITs in eight property sectors: data centers, retail, residential, office, industrial, lodging/resorts, health care and diversified. Two winners were selected in the health care sector.
The list of 2016 winners includes:
- Equinix, Inc. (NASDAQ: EQIX), data centers;
- Macerich (NYSE: MAC), retail;
- Equity Residential (NYSE: EQR), residential;
- Kilroy Realty Corp. (NYSE: KRC), office;
- Prologis (NYSE: PLD), industrial;
- Hersha Hospitality Trust (NYSE: HT), lodging/resorts;
- Welltower (NYSE: HCN) and HCP, Inc. (NYSE: HCP), health care; and
- Vornado Realty Trust (NYSE: VNO), diversified.
“The global sustainability movement is gaining momentum and offering opportunities for a competitive edge and increased revenues and savings for leading companies. REITs are at the forefront of recognizing these opportunities and continue to lead the way in accelerating and expanding the adoption of sustainable business practices,” said Fulya Kocak, NAREIT’s vice president for environmental, social and governance issues.
Kocak added that this year’s Leader in the Light Award winners “showed proof of the short- and long-term business benefits of portfolio-wide sustainability initiatives while committing to the environment."
NAREIT has been presenting the Leader in the Light Awards since 2005. In 2012, the organization modified its judging criteria to include the results of the Global Real Estate Sustainability Benchmark (GRESB) Annual Survey. GRESB’s Annual Survey measures the environmental performance of property portfolios around the world, and it is a closely watched benchmark among many of the world’s largest institutional investors.