This case study was published in the 2022 REIT Industry ESG Report, which details the REIT and publicly traded real estate industry's environmental, social, and governance (ESG) performance and features 32 case studies showcasing REIT leadership and ESG innovation from a variety of sectors. The report serves as a practical tool for shareholders and stakeholders to assess the scale and impact of the REIT industry's ESG commitments and initiatives. Applicable footnotes and/or citations for this case study are available in the full report.
Progressing DEI Objectives with Comprehensive Goals and Company-Wide Engagement
In 2021, led by Chairman and CEO Debra A. Cafaro, Ventas organized a formal diversity, equity, and inclusion (DEI) committee—made up of nearly 40 employees—to meet the objectives of its DEI framework through the development of strategic DEI goals. The goals cover topics such as amplifying DEI employee training, increasing the number of women in senior leadership, expanding partnerships with historically Black colleges and universities (HBCUs), increasing spend with diverse suppliers, and ensuring a diverse pipeline of future employees.
“Our DEI goals represent specific areas where we believe Ventas can use its current strengths and business activities to make tangible and meaningful impact within Ventas, our communities, the commercial real estate industry, and the broader environment.”
-Tim Sanders, Senior Investment Officer and Co-Chair Diversity, Equity & Inclusion Committee, Ventas, Inc.
Ventas is working to advance these goals in alignment with its structured DEI framework, organized by four pillars: people; culture; investment and financial; and beyond Ventas.
Ventas strives to cultivate an employee base that is reflective of society as a whole by recruiting and retaining diverse employees. Through meaningful partnerships with organizations such as the Real Estate Executive Council and HBCUs, Ventas has already gained traction expanding its diverse talent pool of candidates for positions across all levels of the company, including a 2021 intern class that was 100% diverse by race or gender.
Ventas is focused on engaging its employees on DEI through educational events, diverse speakers, and pulse surveys to collect employee feedback on specific initiatives. Ventas also leverages its intranet to spotlight employees during cultural heritage months, providing colleagues an opportunity to learn more about each other and further engrain an environment of respect and inclusivity.
Investment and Financial
Ventas is tracking and increasing partnerships and spend with minority and women-owned business enterprises (MWBEs) across its multi-billion-dollar annual expenditures, including capital expenditures, construction and development, professional and legal services, banking and investment activities, operating expenditures, and the company’s 401(k) plan.
Through philanthropic and community investment efforts aligned with business activities, Ventas is broadening the impact of its DEI efforts. For example, during its 2021 Annual Holiday Giving Drive, Ventas collected more than 400 coats, backpacks, and other school supplies for students at the Samuel Powel Elementary School and the Science Leadership Academy Middle School in West Philadelphia. The charity drive built upon Ventas’s $9 million donation toward the design and construction of the STEM schools that serve predominately economically disadvantaged students, which reside on the University City campus where Ventas owns four life science, research and innovation properties and has two additional projects under development.
Through this comprehensive framework and actionable goals to realize those commitments, the company will continue to advance its efforts to uplift diverse talent and build inclusive communities to achieve the ultimate goal of tangible, long-term change.
Ventas, Inc., an S&P 500 company, is a leading REIT. Its diversified portfolio in the U.S., Canada, and the U.K. consists of senior living communities, medical office buildings, life science, research and innovation centers, health systems and post-acute care facilities.