The Green Cities Company believes a combination of continually educating its workforce, cultivating a culture of feedback, and an equitable approach to evaluating performance is developing its future leaders and providing a clear path to career advancement for every employee.
Headquartered in Portland, Ore., the real estate private equity manager has developed and published a set of company behavioral competencies to establish expectations for all employees, regardless of their positions. The competencies are part of the performance review process.
A Robust ESG Program
Green Cities has a robust ESG program in place. Its approach includes the environmental footprint of its properties, the diversity and inclusivity of their communities and the wellbeing and fulfillment of their occupants and neighbors. The firm maintains that the overlay of design, investment, and sustainability has tremendous impact on its ability to successfully create highly functional, equitable, and sustainable environments that are inclusive to all.
To lead conversations surrounding these topics with its internal team and industry network, in 2022 the firm launched The Exchange by Green Cities, an informal, collaborative series of industry-specific discussions. Conversations are facilitated by and open to external partners and stakeholders to advance Green Cities’ internal team’s ESG knowledge while also enhancing industry stewardship and knowledge.
At the property level, Green Cities takes a holistic approach to ESG that champions the health of the people impacted by its business as well as the planet. Each material in the firm’s ownership process, whether construction, retrofit, or redesign, is carefully selected for its chemical and embodied carbon attributes.
The company has also developed a proprietary metric, the Green Cities Index, which measures ESG at the firm and its portfolio. Green Cities measures five ESG-related impacts: environmental impact, climate change mitigation, resilience, health and well-being, and equitable communities.
Green Cities has been a United Nations-supported Principles of Responsible Investment signatory since 2017 and has reported to GRESB, a benchmark that measures the ESG performance of property, since 2015. It is also certified as a B corporation.
Adding Access to DEI
The firm has built what it calls a diversity, equity, inclusion and “access” (DEI&A) program. A DEI&A committee, which is comprised of volunteers and includes participation by all four of its managing partners, sets and executes goals at the firm and at its properties and partners. Recent examples include creating mentorship and onboarding programs for new Green Cities employees and connecting a significant amount of onsite management bonuses to DEI&A goals on a quarterly basis.
Work-Life Balance
Work-life balance and health and wellness were made even more of a priority during the pandemic. One example of that effort includes introducing an unlimited and flexible paid time off policy with the view that that people need time off for a variety of reasons that might or might not fall inside the purview of a predetermined policy or set of rules. Green Cities simply requires a common sense approach in order to take time off – employees need to consult with their boss to decide what is suitable and notify affected teammates of their absence.
For more Best Places to Work in Private Equity coverage, see Mergers and Acquisitions Names the 2023 Best Places to Work in Private Equity.
