Hines is pleased to announce that it has once again been recognized by GRESB for its sustainability leadership in 2021 and cements its position as a GRESB Sector Leader.
The Hines European Core Fund (HECF) has achieved the highest possible rating of five Green stars out of five for an unprecedented fifth year in a row, achieving a score of 96, its highest score to-date and once again coming first in its peer group and being awarded Sector Leader for a fifth consecutive year. Specifically, this year the fund received multiple awards including Overall Global Sector Leader, Global Sector Leader, Overall Regional Sector Leader and Regional Leader in the Diversified category.
The success was repeated for the first time by the Hines European Value Fund 2 (HEVF 2) and the firm’s high street retail account with German pension scheme group BVK (Bayerische Versorgungskammer), with both also awarded five Green stars out of five and emerging with several awards as the Overall Global Sector Leader in the Diversified Office/Retail category and Global Sector Leader in the Mixed-used category, respectively.
Daniel Chang, who has been appointed Head of ESG for Hines Europe, has played an instrumental role in this accomplishment, spearheading HECF’s drive to become the outstanding sustainability sector leader for five years running, and then replicating this success for the firm’s other funds and investment vehicles, such as HEVF 2 and the BVK mandate.
Additionally, Cherrywood in Dublin, Ireland has been awarded five Green stars out of five for the second year in a row topping its peer group once again with a total 2021 GRESB score of 96 out of 100, a four point uplift from its performance in 2020. The project was awarded multiple awards including Global Sector Leader and Overall Regional Sector Leader, in the Opportunistic Mixed-use category. Cherrywood is an emerging master planned mega scheme, which is one of the most sustainable urban developments in Europe, as demonstrated by these results, and one of the largest too.
In the US, South Station in Boston was awarded Overall Regional Sector Leader for its sustainable design and preservation efforts taken to maintain the historic South Station train station building. It is a 51 story, 1,020,000 square foot mixed used tower. The development will include 711,500 gross square feet of office space and 166 condominium units in 308,500 gross square feet.
Sebastien Roussotte, CEO of GRESB, commented, “Across the globe, organizations are demonstrating a deep commitment to ESG integration while making important strides toward a more sustainable future for us all. Sector Leaders are the organizations setting the pace and driving progress toward a net zero future. We are proud to recognize your determination, achievement, and leadership in creating a more sustainable world.”
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 140 institutional and financial investors to inform decision-making.
Source : Hines