NAREIT recently joined a number of real estate organizations in writing to the Sustainability Accounting Standards Board (SASB) to explain their reservations with SASB's work thus far in developing proposed sustainability standards for real estate.
In a letter to SASB CEO Jean Rogers, the industry groups listed a number of concerns, including fears that SASB’s research and surveys aren’t in synch with the direction of the real estate industry. The research and surveys also “fail to consider barriers beyond the control of real estate owners, developers, and service providers that frequently inhibit greater uptake in corporate sustainability projects,” according to the organizations.
The organizations also noted that SASB neglected to consider aspects of sustainability programs and projects such as cost-effectiveness and budget constraints.
(Contact: Sheldon Groner at sgroner@nareit.com)