Kilroy Realty has been included in Bloomberg’s gender equality index for 2022 — the only Southern California-based real estate firm to make the list.
The REIT was one of 34 real estate-related firms included in the year’s list, which recognizes companies “focused on providing an inclusive work environment,” according to Bloomberg. Of these companies, 23 were headquartered in the U.S.
Bloomberg scores companies on five factors: “female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies and pro-women brand.” Data is self-reported by firms.
On average, companies included in Bloomberg’s GEI count women as third of board members. Across these firms, an average 39 percent of women are in revenue-producing roles. Around three-quarters of the companies employ a chief diversity officer or some other executive with a focus on diversity and inclusion, according to Bloomberg.
The index does not comprise a publicly traded index, but instead aims to encourage public firms to report environmental, social and governance data and goals. It holds the potential to favorably influence shares of companies on the index by publicizing a commitment to ESG, which has taken on increasing significance among some investors.
This year marks Kilroy’s third year on the list. Two out of Kilroy Realty’s seven board directors are women — Louisa Ritter, the president of asset manager Pisces, and Jolie Hunt, the founder of marketing agency Hunt & Gather. The firm’s chief accounting officer, chief administrative officer and its CFO are all women. Kilroy does not have a chief diversity or inclusion officer.
Three companies based in the Bay Area made the list: San Francisco’s Digital Realty Trust, Redwood City-based Equinix and Essex Property Trust in San Mateo.
California would have seen more of its domiciled companies make the list in 2019, before both CBRE and Healthpeak Properties moved their headquarters out of the state in 2020. Healthpeak moved to Denver, while CBRE moved to Dallas, becoming the only entry from Texas on the list.
Three New York-based real estate firms made the index: Empire State Realty Trust, Lexington Realty Trust and WP Carey.
Other notable inclusions on the list include Chicago-based JLL, Cushman & Wakefield and Regency Centers.