Sustainability remains a priority in the multifamily industry. During the 2018 NMHC Spring Board Meeting, a panel discussion titled Sustainability – A 21st Century Definition and Approach centered on sustainability strategies and issues related to implementation as they relate to the multifamily industry.
Brenna Walraven of Corporate Sustainability Strategies, Inc. moderated the panel. She was joined by industry experts, Alan George of Equity Residential, Michael Kirby of INVESCO Real Estate and Nils Kok of GeoPhy.
Property owners are being forced to find new ways to drive net operating income through increased water, waste and energy efficiencies that translate into lower operating expenses. Moreover, they are looking at resiliency strategies that take a holistic view of valuation of an individual property in a geographical footprint. Investors are also interested in having a deeper understanding of firms’ corporate social responsibility strategies as well as their approaches to execution, transparency and measurement. The panel also discussed how big data is increasingly being used to improve property operations.
The panelists discussed how the definition of sustainability includes environmental, social and governance (ESG) attributes and, as such, multifamily owners and operators will increasingly need to:
- Benchmark and disclose energy and water performance;
- Engage with investors, residents, partners, employees and communities around all sustainability attributes ranging from recycling and efficiency to health and wellness;
- Understand ESG risks and opportunities
More on sustainability can be found here.
- Apartment Industry Calls for Renewal of Tax Provisions Designed to Spur Energy Efficiency
- NMHC and NAA 179D Letter to Senate Finance Committee Cost Recovery Task Force - June 2019
- Letter to Department of Energy on Furnace Efficiency
- NMHC and NAA Call on DOE to Walk Back Burdensome Furnace Regulations
- What Does the Government Shutdown Mean for the Multifamily Industry?