WashREIT is expanding its green bond framework with $350 million in green bonds for eligible properties. The REIT will target BREEAM In-Use Very Good certifications for the assets, which include an eight-property apartment portfolio that WashREIT acquired in 2019. The move underscores increased commitment to ESG practices in the CRE industry and among REITs in particular.

"ESG is integrated into our mission and goals for the company as a whole, and we really have to live it in our operations and adopt it in all that we do for our stakeholders, both our investors and our residents," Steve Riffee, CFO at WashREIT, tells GlobeSt.com. "To be responsible stewards of our investors' capital, we believe that aligning our ESG objectives with investors that really value ESG is the right thing to do."

There is increasing support for ESG investment, and investors are looking for partners that are committed to achieving high operating standards. "Portfolio managers and stewards of capital are being held more accountable for their ESG-oriented investments," says Riffee. "We have been applauded by both equity and debt investors for continuing to up our game in this way. It really matters, and they tell us that it is going to matter more and more."