Daniel Egan, senior vice president for energy and sustainability at Vornado Realty Trust (NYSE: VNO), participated in a video interview at Nareit's 2020 ESG JumpStart Workshop, a one-day program designed to teach Nareit corporate members the core skills needed to launch—or improve—an ESG program of any size.
Egan led a JumpStart workshop looking at why the social aspect of ESG has been a challenge for companies to address or fully disclose.
“The ‘S’ of ESG is still a nebulous topic. It can be defined in so many different ways and it means something different for every REIT. It depends entirely on what the stakeholders’ priorities are,” he said.
Egan also discussed good first steps for companies to formalize their social initiatives. He emphasized the importance of having focus, rather than performing “random acts of kindness.”
In addition, Egan touched on key areas related to health and safety that companies should address.