Nareit’s diversity and inclusion plan was created with the support of REIT CEOs and executive leadership councils and committees, including the Dividends Through Diversity CEO Council. The plan builds upon the Dividends Through Diversity Initiative introduced in 2017, which aims to increase the REIT and publicly traded real estate industry’s visibility and appeal to diverse talent and businesses through a focus on people, partnerships, and philanthropy. The intent is to introduce members of underrepresented groups to REITs and publicly traded real estate, develop and elevate existing talent, and create a more culturally inclusive industry.
As part of the DEI strategic plan, Nareit creates, facilitates, and leads:
These activities are designed for Nareit members and accessible by the broader commercial real estate community to supplement each individual company’s diversity and inclusion programming and strategies.
People
At the core of any successful diversity and inclusion program is the people within each organization. Nareit provides various programs, trainings, resources, and leadership opportunities to help guide the development and optimization of successful programs to drive representation at every level, compensation equity, and an inclusive workplace.
Partnerships
Nareit has initiated partnerships to bring best-in-class programming and resources tailored to the REIT and publicly traded real estate community to better support the growth of a diverse talent pipeline and increase the industry’s overall appeal to underrepresented groups.
Philanthropy
Nareit Foundation’s DTD Giving Campaign and Grant Program raises funds from Nareit members and forms partnerships with non-profit organizations and initiatives that will help create a more diverse and inclusive REIT and publicly traded real estate industry. Managed through the Nareit Foundation, the program is designed to demonstrate collective commitment to advancing diversity and inclusion on behalf of the REIT and publicly traded real estate industry while complementing and compounding the impact of individual companies' efforts in similar areas. Learn more about the inaugural grant recipients and donors.
For nearly two decades, the Nareit Foundation has supported educational and charitable initiatives for the REIT and publicly traded real estate industry. In 2018, the Nareit Foundation launched the Nareit Hawaii Community Giving Initiative to support affordable housing and family-focused programs in Hawaii.
Below are various social responsibility-related programs, research, and data; education and training; and leadership opportunities that Nareit offers its members and the broader real estate community. Sign up here for social responsibility-related updates from Nareit.
Data & Research
Nareit’s Compensation & Benefits Survey is the most comprehensive real estate survey of its kind, featuring compensation data on more than 200 job titles commonly found at REITs. In this survey, Nareit and Ferguson Partners capture a vast amount of competitive data that can help real estate organizations identify the latest market shifts and developments relating to compensation levels, department sizes and organizational structures. This survey is an invaluable tool to help real estate companies achieve compensation equity and benchmark compensation packages with competitors.
Nareit’s Workforce Development & DEI Survey© , exclusively available to Nareit corporate members, features data on REIT social responsibility practices. This survey, conducted annually helps Nareit track progress, gain insights into the state of diversity and inclusion in the REIT industry, and identify opportunities for improvement. The next survey release date is Fall 2024.
Nareit’s REIT Industry Sustainability Report identifies and tracks environmental, social, and governance key performance indicators for the U.S. REIT industry. This report, now in its sixth year, can help REITs and publicly traded real estate companies benchmark their sustainability and social responsibility strategies and reporting practices.
Education & Training
Nareit’s REITworks: Sustainability & Social Responsibility Conference is a meeting designed exclusively for Nareit corporate members. This event offers REIT professionals an opportunity gain insight on the evolving landscape around environmental stewardship, diversity, social responsibility, and sustainability topics through informative sessions, roundtable peer exchanges, and networking events. Key topics include climate change reporting, decarbonization pathway planning, investor and other key stakeholder perspectives, intersection of technology and sustainability, philanthropy and community impact strategies, and more.
Nareit Webinars offer insights and best practices for REITs, commercial real estate, and investment management professionals. Topics include market performance, sustainability, social responsibility, accounting and tax standards, innovation, technology, and more. Sign up to be notified of upcoming Nareit webinars or view past webinars.
Leadership
Nareit Councils
Nareit councils provide members the opportunity to participate in and facilitate best practice sharing, and to help guide Nareit’s social responsibility offerings.
Current leadership groups include:
Dividends Through Diversity (DTD) CEO Council – The council is made up of more than 25 REIT CEOs who support increasing the publicly listed REIT industry’s visibility and appeal to diverse talent and businesses by focusing on people, partnerships, and philanthropy.
Social Responsibility Council (SRC) – The council is a cross-disciplinary group established to advise Nareit regarding a broad range of social responsibility matters, including workforce, community, and supply chain issues.
Contact member@nareit.com to learn more Nareit’s councils and committees.
Nareit Awards
Nareit’s annual Diversity Impact Awards recognize Nareit member REITs that take intentional approaches to implementing, measuring, and scaling innovative social responsibility policies and practices within their companies and across supply chains, ultimately having a positive effect on the communities they serve.
Industry Leadership
Nareit, together with several real estate trade organizations, formed the Commercial Real Estate Diverse Suppliers (CREDS) Consortium, a two-year pilot program to promote supplier diversity in commercial real estate and help facilitate the connection between REITs and diverse suppliers, vendors, contractors, and businesses. CREDS has partnered with SupplierGATEWAY, a cloud-based supplier management platform, to enhance member access to various partners for procurement opportunities.
REDI Alliance (Real Estate Diversity & Inclusion), founded by Nareit in 2019, exists to foster collaboration and to create a forum where diversity, equity and inclusion leaders from real estate organizations can share ideas and take collective action to advance diversity and inclusion within the commercial real estate industry. Members include Building Owners and Managers Association International, International Council of Shopping Centers, Mortgage Bankers Association, NAIOP, Nareit, National Multifamily Housing Council, and Urban Land Institute.
Real Estate Executive Council (REEC) is the preeminent professional trade association promoting the interests of executives of color doing business across the commercial real estate industry. Nareit participates in the REEC Diversity Partner Program, which focuses on achieving goals across multiple dimensions of diversity, including talent (pipeline and retention), corporate spend (supplier/vendor diversity), capital (investing in and/or with partners of color), and advocating for diverse teams with internal and external vendors.
Programs
The Management Leaders of Tomorrow (MLT) Black Equity at Work Certification Program provides companies with data-backed, measurable standards for achieving Black equity within their operations, and provides expert guidance and support to help companies reach equity. In 2022, Nareit hosted an informational webinar with MLT cofounder Jonah Edelman to allow members to learn more about the program and hear directly from executives who have participated in the program. Watch a replay of the webinar and download the presentation materials (PDF).
The CEO Action for Diversity & Inclusion™ pledge aims to rally the business community across all industries and sectors to advance diversity and inclusion within the workplace. CEO Action was founded on a shared belief that diversity and inclusion is a societal issue, not a competitive one, and that collaboration and bold action from the business community – especially CEOs – is vital to driving change at scale. Nareit’s DTD CEO Council determined that encouraging REIT industry CEOs to sign the CEO Action Pledge was a worthwhile initiative. In 2021, Nareit hosted an informational webinar about the pledge for its members. Watch a recording of the webinar and find answers to frequently asked questions.