Global real estate investment, development, and property manager Hines has been recognised by GRESB for its sustainability leadership in 2022.
Each year, GRESB assesses and benchmarks the ESG performance of assets worldwide and the assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments.
Hines received five out of five green stars for its European entries, three out of four were peer group leaders and two were deemed global sector leaders by GRESB.
The Hines European Core Fund (HECF) achieved the highest possible rating of five green stars out of five for the sixth year in a row, coming first in its peer group and being awarded global sector leader for a sixth consecutive year. The Hines European Value Fund 2 (HEVF 2) and the firm’s high street retail account with German pension scheme group BVK (Bayerische Versorgungskammer), were both awarded five green stars out of five.
Lars Huber, CEO – Europe at Hines, said: “To achieve these GRESB results is testament to our focus on ESG and our ambitious approach to decarbonise the built environment. We can safely say creating a low carbon economy is one of the industry’s key challenges and we all must all take real, meaningful and sustained action.
“For our investment management platform to achieve such results for HECF, HEVF 2 and BVK demonstrates our real and deep desire to really spearhead positive change for the benefit of both people and the planet. Likewise, for Cherrywood in Dublin to achieve a record score of 99 out of 100 is unassailable and reinforces our strength as an ESG focused placemaker, of which we’re very proud.”
Daniel Chang, European head of ESG, at Hines, added: “At Hines, we are deeply committed to addressing climate change and ensuring that our buildings are taking the necessary tangible steps to make a positive impact. Our results this year are very strong given GRESB participation increases year-on-year, and average GRESB scores have dropped across the board comparative to last year.
“We believe the GRESB survey provides a widely recognised framework that levels the understanding of ESG in real estate – and are delighted that our portfolios continue to consistently outperform.Underpinning these strong results is a comprehensive approach, with our vertically integrated teams coordinating the countless initiatives. We will strive to build on these successes in the years to come.”
