Carol Samaan, vice president, associate general and corporate secretary at Healthpeak Properties, Inc. (NYSE: DOC), and chair of Nareit’s Real Estate Sustainability Council (RESC), sat down for a video interview at Nareit’s REITworks: 2024 Sustainability & Social Responsibility Conference, held in McClean, Virginia from Sept. 10-12.
Samaan discussed the REIT industry's progress in decarbonization and the critical ESG regulatory landscape. Under the leadership of RESC, she highlighted a year of significant advancements in decarbonization efforts, emphasizing the industry's collaboration with standard-setting organizations to establish realistic goals and pathways for sustainability.
Samaan also addressed the regulatory challenges REITs face, particularly regarding the SEC climate disclosure rule, currently tied up in litigation, and California's emerging climate regulations. She underscored the importance for REITs to stay informed about building and energy performance standards, as many local jurisdictions are implementing regulations that can lead to fines if not complied with.
To navigate this evolving landscape, Samaan advocated for REITs to establish dedicated internal sustainability teams, stressing the need for cross-departmental collaboration to effectively address compliance requirements. She also advised REITs to engage with knowledgeable external advisors to ensure they meet the diverse and changing regulatory demands.