National Retail Properties.
NNN.US | Real estate activities with own or leased property
National Retail Properties, Inc. (NNN) is a real estate investment trust (REIT) that primarily invests in single-tenant, net-leased retail properties in the United States. The company focuses on acquiring, owning, and managing a diversified portfolio of retail properties leased to high-quality tenan...Show More
Better Health for All
0
National Retail Properties (NNN) is a real estate investment trust, and its principal goods and services involve leasing retail properties, which have no direct positive or negative health impact on the public. While some tenants are healthcare providers, NNN itself does not provide health services, and the proportion of healthcare tenants is not quantified as a majority. The company's revenue is derived from rent, which does not have negative health outcomes. NNN does not offer health-related products or services to the public, nor does it engage in health-related R&D or clinical trials. All health and wellness initiatives, such as healthcare coverage, flu vaccines, biometric screenings, mental wellness programs, and educational assistance, are provided as employee benefits. The value definition explicitly excludes workplace safety standards and worker rights, which encompasses these employee-centric programs. Environmental efforts, such as Energy Star certification for its headquarters, are also excluded by the value definition as they pertain to planet-friendly business rather than direct health externalities. NNN's charitable partnerships, while beneficial, are not directly tied to its business model serving vulnerable populations with health needs. Therefore, all KPIs are scored as 0, indicating they are not applicable to NNN's core business activities in the context of public health.
Fair Money & Economic Opportunity
0
No evidence available to assess National Retail Properties on Fair Money & Economic Opportunity.
Fair Pay & Worker Respect
10
For the 2024 fiscal year, the company's CEO-to-median employee pay ratio was 69:1, with the CEO's compensation at $8,418,498 and the median employee pay at $121,201.
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No regulatory actions, violations, fines, or compliance issues related to labor laws or human rights are mentioned in the provided articles. The company has approximately 82 associates, with 58% being female.
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46% of associates have 10 or more years of tenure, and the executive team, department heads, and senior managers have an average tenure of over 19 years.
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NNN.US was included in the 2023 Bloomberg Gender-Equality Index and listed among the 2023 Best Places to Work by the Orlando Business Journal.
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Fair Trade & Ethical Sourcing
-10
The company states its business does not have operations or suppliers considered to have significant risk for incidents of child labor or young workers exposed to hazardous materials
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. It reported zero incidents of violations involving the rights of Indigenous Peoples and zero confirmed incidents of corruption during the reporting period (January 1, 2023 - October 31, 2023)
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. NNN prohibits all forms of forced and child labor
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and has a no-tolerance policy for associates, suppliers, and vendors in violation of company standards regarding slavery and human trafficking, with violators subject to termination
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. Vendors are required to comply with the Vendor Code of Conduct
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, which includes provisions against child and forced labor
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, and must maintain internal processes to confidentially report and investigate allegations
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.
Honest & Fair Business
0
NNN REIT explicitly states that third-party external assurance has not been sought out for its sustainability report for the current reporting cycle.
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The Board of Directors is comprised of eight members, seven of whom are independent, non-employee directors, representing 87.5% independence, and is chaired by an independent, non-employee director.
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NNN REIT has a comprehensive Whistleblower Policy, last revised/reviewed in November 2024, which allows for confidential and anonymous submission of concerns via a web-based system and a toll-free hotline.
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,
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Complaints are automatically forwarded to the Audit Committee, or by senior management within three business days, for investigation.
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,
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The company prohibits retaliation against associates for good-faith complaints, and on-site, company-wide training is held annually.
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,
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NNN REIT also has a comprehensive Anti-Corruption Policy, last revised/reviewed in November 2024, which applies to all employees, officers, and directors.
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,
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It prohibits bribes and facilitation payments, requires advance approval for gifts to government officials (with a general limit of $100), addresses third-party risks, and mandates accurate financial controls.
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100% of governance body members and employees have been communicated the policy and receive annual training.
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,
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No confirmed incidents of corruption were reported during the January 2023 - October 2023 period.
14
Kind to Animals
10
NNN REIT has made significant investments in wildlife conservation, including the Northern Kenya Rangelands Project, which covers over 2 million hectares
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and holds CCBA triple gold status, aiming to enhance habitats for key endangered species.
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The company also invested in the Waste to Fuel project in Uganda, which protects forests and biodiversity.
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Additionally, NNN manages an Apalachicola River property that is over 98% forested, with a goal to transition forest stands back to a natural state.
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For public policy engagement, NNN partners with Orange County Animal Services (OCAS).
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OCAS is an animal-welfare focused organization that enforces the Orange County Code to protect animals and provides services such as low-cost spay/neuter and microchipping.
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No War, No Weapons
0
No specific, concrete evidence was found in the provided articles for any of the KPIs related to the 'No War, No Weapons' ethical value. The articles explicitly state that no data is present regarding NNN's arms contracts, dual-use technology, sales to embargoed regimes, peacebuilding investment, conflict divestment, board oversight of defense, export certifications, lobbying, procurement compliance, human rights due diligence, Arms Trade Treaty compliance, AI safeguards, UN Guiding Principles alignment, dual-use screening, surveillance transparency, ethical red lines, zero exposure to controversial weapons, war risk audits, annual conflict partner reviews, defense divestment, conflict minerals, peace tech investment, or conflict zone procurement.
1
Planet-Friendly Business
-20
National Retail Properties reported total Scope 1, 2, and 3 greenhouse gas emissions of 243,078.29 tCO2e in 2024, representing a 31.35% annual decline from 2023.
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The company sources 18.82% of its electricity from renewable sources.
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Water withdrawal was 0.4037 megaliters, equating to 0.4425 m³ per $1 million in annual base rent.
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However, 96.31% of this water withdrawal is sourced from areas with water stress.
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Only NNN's headquarters building is ENERGY STAR® certified, with no other properties in its portfolio of over 3,500 retail properties reported as green certified.
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NNN REIT states that its direct operations do not affect biodiversity, as it does not own, lease, or manage properties in or adjacent to protected areas or areas of high biodiversity.
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The company supports climate justice initiatives through projects like the Waste to Fuel project in Uganda and the Northern Kenya Rangelands Project, which provide multi-faceted benefits to vulnerable communities.
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As a real estate investment trust, the company has no packaging operations.
Respect for Cultures & Communities
-10
National Retail Properties (NNN) has 5 formal partnership agreements with local community groups, including Boys & Girls Clubs of Central Florida, ELEVATE Orlando, Give Kids the World, Ronald McDonald House of Central Florida, and Second Harvest Food Bank.
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In 2024, NNN donated over $155,000 to nonprofit organizations in Central Florida, which represents approximately 0.018% of its 2024 annualized base rent of $860,562,000.
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The company reported zero incidents of violations involving the rights of indigenous peoples during the reporting period of January 1, 2023, to October 31, 2023.
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NNN states that 95% of its senior management (20 of 21 members) are hired from the local Orlando Metro area.
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The company also states that its business operations do not have actual or potential negative impacts on local communities, and therefore, FPIC processes and the concept of a social license are not applicable to its business model, and there have been no cultural site disruptions. Charitable giving is general and not specifically focused on cultural heritage organizations.
Safe & Smart Tech
10
NNN REIT has not experienced any information security breaches in the last three years.
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The company reviews cyber and informational security risks quarterly through its Audit Committee
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and provides cybersecurity compliance training to associates twice per year and ad-hoc as needed.
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NNN REIT also purchases cyber breach and informational security insurance.
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Zero Waste & Sustainable Products
-30
NNN has implemented eight distinct waste reduction initiatives at its headquarters, including single-stream recycling, a document destruction program that diverted approximately 30,900 pounds of shredded materials from landfills, and recycling programs for old computer equipment, electronics, and ink cartridges.
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The company also encourages associates to use reusable personal containers and has installed water machines to limit plastic cup and bottle use.
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Additionally, NNN requires tenants to abide by certain waste management practices in new and renewing leases.
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For hazardous waste management, NNN's headquarters building utilizes a bulb crusher for lamps with a dust removal system that exceeds HEPA standards by removing 99.99% of particles, and requires all paint to be low VOC to minimize pollutants.
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NNN has not reported any waste disposal violations in the past three years. Furthermore, NNN engages with its tenants to promote environmental best practices, including discussions on environmental sustainability and recycling requirements.
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