The Real Estate Roundtable’s Equity, Diversity and Inclusion (ED&I) Committee finalized its mission statement on Wednesday, with a key objective to create more economic opportunities for Black, Latino and other historically under-represented groups to prosper in the commercial real estate industry.
- The ED&I Committee’s mission statement draws from the Biden-Harris Administration’s executive order “On Advancing Racial Equity and Support for Underserved Communities” (Jan 20), as well as data recently reported by Citi GPS on the economic cost of racial inequality in the U.S.
- The statement provides a four-part mission to:
- Encourage RER’s members to create equal opportunities in real estate’s management, workforce, supply chain, and capital markets for Black, Latino, and other professionals historically under-represented in the CRE industry;
- Develop an anti-discrimination, pro-inclusion federal policy agenda within The Roundtable’s traditional spheres of influence as an advocate on tax, capital markets, ESG, housing, infrastructure, and immigration matters;
- Forge alliances by The Roundtable with civil rights and minority business organizations; and
- Increase diversity among Roundtable membership, directors, contractors, and staff.
- Roundtable Board Member and ED&I Committee Chairman Jeff Blau (CEO, Related Companies) stated, “The creation of a mission statement is a foundational step that will guide The Roundtable in its crucial work to create equity and affect real change in the real estate industry. Diversifying our industry is not a task that can be left to a few, rather it is a responsibility for all of our members and I look forward to continuing to work with RER to advocate for and drive meaningful progress.”
- The ED&I Committee’s initial focus will be on initiatives to boost opportunities for minority-owned firms in CRE’s supply chain of service providers, and support appropriate federal policy proposals to improve diversity in corporate governance.
- The Roundtable is also a “Founding Diversity Partner” in a national program recently launched by the Real Estate Executives Council (REEC) — the leading trade association formed to promote the interests of minority executives in the CRE industry. The Roundtable’s ED&I mission statement reflects the goals of REEC's framework, including objectives to increase corporate spend on minority-owned vendors, develop a pipeline of racially diverse CRE talent, and improve access to capital and credit for minority owned investment managers. (Roundtable Weekly, Feb. 5)
- NAIOP and the National Multifamily Housing Council (NMHC) are also among the founding partners in REEC’s initiative.
“The events of the last year have laid bare the injustices faced by Black Americans and other minorities in our economic, public health, and social institutions,” said Jeffrey D. DeBoer, President and CEO of The Real Estate Roundtable. “The Roundtable must do our part to help create an equal playing field of opportunities for all Americans to prosper in our industry.” (ED&I Mission Statement, Feb. 10)
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