The Hines Pan-European Core Fund (HECF) has achieved the highest possible rating of five Green stars out of five and was awarded Sector Leader within its European Diversified Office/Retail/Non-listed Core category in the Global Real Estate Sustainability Benchmark (GRESB) for an unprecedented fourth year in a row.
GRESB, the leading Environmental, Social and Governance (ESG) benchmark for real estate and infrastructure investments across the world, has named HECF one of the “best of the best” in sustainability leadership across the real estate sector.
The award demonstrates HECF’s ongoing commitment to having a positive societal impact in the communities it operates in and achieving the highest levels of sustainability across a wide range of areas, including energy performance, stakeholder engagement, building certificates, resilience, social risks and opportunities, water use and management.
GRESB recognized the impressive strides made by HECF, including 100% Sustainability Certificate coverage across the portfolio, as well as a 15.7% reduction in energy use and a 23.8% greenhouse gas reduction since 2016, for like-for-like assets. The Fund has also made sure that 90% of its buildings, where it has landlord control, have been transferred to 100% renewable energy sources.
HECF also ranked first in several categories, ranking first out of all global 412 GRESB participants which participated in the optional Resilience module, demonstrating the portfolio’s ability to future-proof the values of its assets over time. The Fund also ranked first in the Global diversified Office/Retail/Non-listed Core funds category.
The GRESB award follows HECF’s recognition in September as one of the top property funds in Europe by achieving the MSCI European Property Investment Award for the best performing pan-European balanced fund.
Source : Hines