Veris Residential announced that it has been recognized as a leader for its work in environmental, social & governance, including diversity, equity & inclusion and corporate stewardship, by well-recognized real estate and business organizations.
Specifically:
- Veris Residential was designated as a Leader in the Light and awarded the Bronze 2023 Diversity Equity & Inclusion Recognition from the National Association of Real Estate Investment Trusts;
- The Jersey City-based company also earned a 5 Star rating for a second consecutive year for its performance in the 2023 Global Real Estate Sustainability Benchmark, the highest rating offered by GRESB for distinguished ESG leadership and performance; and
- It received the Best Corporate Steward: Small and Middle-Market Business Award from the U.S. Chamber of Commerce Foundation for its continued commitment to providing “shared value” to its shareholders, residents, employees, local community, suppliers and the planet.
“We recognize the importance of swift action in addressing climate change, specifically within the built environment, given our industry’s disproportionate contributions to global carbon emissions,” Mahbod Nia, CEO of Veris Residential, said. “By setting ambitious yet achievable targets and integrating sustainability considerations into corporate and property-level decisions, Veris Residential has made immense progress in becoming a more environmentally and socially conscious company to the benefit of all company stakeholders. We are honored to have our achievements recognized by Nareit, GRESB and the United States Chamber of Commerce Foundation.”
Nareit’s Leader in the Light Awards honor member companies for demonstrating sustained ESG leadership and superior sustainability practices, as determined by an interdisciplinary panel of judges, reflecting the results of the GRESB Annual Survey as well as supplemental questions. Veris Residential’s recognition comes in the Residential sector following the company’s strategic transformation into a pure-play multifamily real estate investment trust.
In 2023, Veris Residential received a GRESB Score of 92, well above the 2023 GRESB average survey score of 75 and the company’s 2022 score of 88. Furthermore, the company was designated as both a Global Listed and Regional Sector Leader in the Diversified Office/Residential category, a recognition highlighting the top performers in each sector and region.
“Improving our overall GRESB Annual Survey score and receiving sector-leading recognition is a testament to Veris Residential’s underlying commitment to sustainable operations and DEI. It is heartening to have our progress recognized as we continue to leverage our dedicated ESG program, Embrace by Veris Residential, in support of the well-being of our residents, employees, suppliers and the communities we serve,” Karen Cusmano, senior vice president, head of sustainability and ESG, said.
