We are stronger because of all our differences; it’s the one thing we have in common. This is the underlying philosophy of the social part of EPRA Sustainability Best Practices Recommendations, and also shared by JLL.
EPRA and JLL are proud to have partnered for the launch of the new Diversity & Inclusion Award, which will highlight best practice amongst listed real estate companies across Europe. Companies will have the opportunity to submit an initiative that is improving diversity in the space in which they operate.
Although the issues are often hidden, and admission can be uncomfortable, successfully addressing diversity requires openness and will require collaboration. Historically, real estate has not been a diverse sector and, as operating companies, we need to better reflect the communities we serve.
The EPRA Sustainability Best Practices Recommendations set a standard for those who want to report non-financial information and, since the introduction of social and governance measures, this now includes diversity. It is clear though that there is a great deal of work behind these figures, and it is important to champion the actions companies are making in this area.
Where you have an influence, you can make a positive change. Therefore, actions within the community, supply chain, talent pools or the workplace are all valid within the scope of the award. Focus areas could include, but are not limited to, gender, ethnicity, socio-economic background, age, disabilities and LGBT.
Detailed guidance and accompanying criteria will be released this month. To account for the wide scope, submission guidelines have been designed around best practice hallmarks at the key stages of foundation, implementation and outcomes.
The entry process will open this summer and last till late September 2019. We will announce the award winner and nominees at the EPRA ESG Summit in December.
We strongly encourage EPRA members to embrace this chance to share best practice and to open a dialogue on the challenges within the sector. Whatever the initiative, by contributing to the award, you can be an advocate in a collaborative effort to make a change.