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Commercial real estate companies are broadening and deepening their diversity, equity and inclusion (DEI) programs and initiatives, a new survey found.

The Global Real Estate DEI Survey 2022, a partnership between real estate bodies ANREV, INREV, NAREIM, NCREIF, PREA, REALPAC and ULI and conducted by Ferguson Partners, found that 95% of the firms surveyed – representing $2.34 trillion of assets under management - are addressing issues of DEI either by having a formal program or by enacting at least some initiatives and policies to improve the representation of women and underrepresented groups at their respective organizations.

Survey responses were overwhelmingly weighted towards the US, from where 81.4% of respondents hailed. Only 12.4% of submissions came from Europe and 6.2% from Asia Pacific.

Among respondents which have a formal DEI program, more than 85% set qualitative and/or quantitative or measurable goals, and, over the next 12 months, 11.1% which do not say they plan to do so.

Meanwhile, 84% of respondents in Europe currently monitoring pay equity compared with 66.7% and 68.6% of Asia-Pacific and North American respondents, respectively.

Data on staff ethnicity and gender was collected for North America, but gender only for Europe and Asia Pacific. The latter reported gender equality in staff numbers, while North America reported 42.5% women and Europe 39.5%.