The National Association of Realtors (NAR) has released a new report highlighting the association’s top sustainability accomplishments in 2021 within four categories: environment, social, governance and resilience, according to a NAR release.
In the coming years, the annual report will offer a snapshot of NAR’s current state of sustainability activity, existing programs, resources and services, while tracking the progress over time on stated goals within the context of NAR’s multiyear sustainability and resilience plan.
“Leading by example, NAR is driving the real estate industry toward a more efficient and sustainable future,” NAR CEO Bob Goldberg said in a release. “As part of this responsibility, we are strengthening the association’s support of sustainability efforts and increasing engagement on policies and programs that prioritize viability, resiliency and adaptability. We are working to generate meaningful, lasting change that will benefit both current and future generations.”
Some of NAR’s major environmental sustainability achievements in 2021 included the Chicago Headquarters’ Master Vision Project. Initiated in 2018, this project has brought forth the most significant updates to the building in 60 years. Under normal operations, these changes will bring up to 25 percent in energy savings from the installation of new mechanical systems and a 75 percent reduction in energy consumption from the new elevator system. Materials, resources, and waste tracking all aim to meet Leadership in Energy and Environmental Design standards.
Social improvements included a new core value program for all NAR employees. NAR said the program solidifies NAR’s commitment to respecting diversity throughout the organization and supports the commitment to an inclusive workplace environment where everyone feels safe to express their authentic self.
In addition, NAR continued its partnership with the Food Recovery Network in 2021 to donate any unused food portions from major meetings to those most in need. To date, NAR has provided more than 4,170 pounds of unserved meals to local organizations. Under the governance category, NAR developed a partnership with the National Oceanic and Atmospheric Administration to keep members informed on how weather events affect housing and markets.
The resilience category included a variety of short- and long-term actions that help Realtors and communities respond to and prepare for extreme weather and a changing climate. For instance:
- Realtor.com now includes flood risk data from Flood Factor on each listing to help assess flood risk on individual properties, allowing property owners to accurately assess their risk and better prepare for future flooding events.
- NAR’s Smart Growth Grants and Placemaking Program supported state and local associations in the creation of parks, trails and community gardens. The natural surface of these projects enhances stormwater absorption, and the gardens can provide a source of food in times of need, improving a community’s resiliency.
- On Oct. 1, the Federal Emergency Management Agency (FEMA) began phasing in a new flood insurance pricing system called “Risk Rating 2.0: Equity in Action.” This new system prices flood insurance for each home individually rather than by flood zone. By adopting modern insurance industry technologies, standards, and practices, FEMA can rate more precisely and accurately by using more flood risk factors and property-specific characteristics – allowing consumers to make better, more informed decisions about the risks and costs of insuring a property, NAR said.