11/13/2019 | By Jane Dollinger
LOS ANGELES, Nov. 13, 2019 – Nareit presented its annual Leader in the Light Awards for achievement in sustainability today during its REITworld 2019 Annual Conference in Los Angeles. Ten REITs and one individual received awards for producing superior, measurable results from the implementation of sustainable business practices.
Awards were presented to REITs in eight property sectors: Data Centers; Diversified; Health Care; Industrial; Lodging/Resorts; Office; Residential/Apartments; and Retail/Regional Malls.
Additionally, awards were presented in three other categories: Most Innovative, Leadership Personified’ and Best New Entry. The Most Innovative award is given to a company that has developed truly innovative solutions to address sustainability challenges. The Leadership Personified award recognizes an individual who has created a positive influence on sustainability within his or her organization and the broader REIT community. The Best New Entry award is new in 2019 and recognizes the leading application among companies participating for the first time in the competition.
The property sector award winners were:
- Data Centers: Digital Realty
- Diversified: Vornado Realty Trust
- Health Care: Ventas, Inc.
- Industrial: Prologis
- Lodging/Resorts: Host Hotels & Resorts, Inc.
- Office: Kilroy Realty Corporation
- Residential/Apartments: AvalonBay Communities, Inc.
- Retail/Regional Malls: Kimco Realty Corporation
The Most Innovative award was presented to Boston Properties.
The Leadership Personified award was presented to Kevin Hagen, EVP, Iron Mountain.
And the first recipient of the Best New Entry award was Hudson Pacific Properties, Inc.
“Nareit has presented the Leader in the Light Awards since 2005, and during those nearly 15 years, the importance of sustainable business practices has become increasingly evident,” said Sheldon Groner, Nareit executive vice president, Finance and Operations. “Leading edge sustainability practices often leads to decreased costs and increased property appeal to tenants, and this has led to sustainability becoming a critical factor for a growing number of investors.”
The judging criteria include the results of the Global Real Estate Sustainability Benchmark (GRESB) Annual Survey, as well as other metrics. 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.
“We take great pleasure in honoring our members who have incorporated sustainability into their business plans and, through their innovation and vision in addressing ESG issues, have demonstrated their leadership in our industry,” said Fulya Kocak, Nareit vice president, ESG Issues.
This year’s Leader in the Light Award submissions were evaluated by an interdisciplinary panel of judges including:
- Matthew Kozlowski, LEED AP BD&C, Facilities Engineering Department, Cornell University
- Jean Lupinacci, Chief, ENERGY STAR Commercial and Industrial Branch at U.S. EPA
- Cliff Majersik, Executive Director, IMT
- Maria Vargas, Director, Department of Energy Better Buildings Challenge