GRESB results further Hines' position at forefront of ESG

Measuring, Benchmarking, and Reporting on ESG

aer in Munich
Caption aer in Munich

Reporting frameworks like the Global Reporting Initiative, United Nations Principles for Responsible Investment (PRI), and the Global Real Estate Sustainability Benchmark (GRESB) have pushed us to be more strategic and actionable around ESG at Hines and to refine our approach to data collection to support more efficient, transparent disclosure.

Measuring, Benchmarking, and Reporting on ESG

To achieve these GRESB results is testament to our focus on ESG and our ambitious approach to decarbonize 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.

Lars Huber, CEO European Region

Our funds engage in ESG reporting to ensure targets are monitored and met. Properties within our portfolios pursue relevant ESG certifications, and we have been using GRESB to measure performance across a growing number of Hines portfolios.

The firm has once again been recognized by GRESB for its sustainability leadership in 2022. All of Hines' European entries received five out of five green stars, three out of the four were peer group leaders, and two were Global Sector Leaders, furthering its position at the forefront of ESG action in the real estate sector.

The rankings mirror Hines' ongoing commitment to creating a positive societal impact in the communities it operates in and achieving the highest levels of ESG performance across a wide range of areas, including energy performance, stakeholder engagement, building certificates, resilience, social risks and opportunities, water use and management.

5 Green Stars out of 5

The Hines European Core Fund (HECF) has achieved the highest possible rating of five green stars out of five for an unprecedented sixth year in a row, once again coming first in its peer group and being awarded Global Sector Leader for a sixth consecutive year. HECF received multiple awards including Global Sector Leader in the Diversified category, Global Non-listed Sector Leader in the Diversified category and Regional Sector Leader - Europe in the Diversified category.

South Dock in Amsterdam
Caption South Dock in Amsterdam

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. HEVF 2 increased its score from 92 to 94 points, well above the peer group average of 76, and ranked first out of 147 in the Management Score within the Europe, Non-Listed, Value Added category. BVK achieved first position out of 12 against its peers, improving its score by 1 point to 91. It too ranked first out of 554 others in the Management Score within the Europe, Non-Listed, Value Added category.

Liffey Valley in Dublin
Caption Liffey Valley in Dublin

Cherrywood in Dublin, Ireland, has been awarded five green stars out of five for a third year in a row topping its peer group once again with a total 2022 GRESB score of 99 out of 100, a three-point uplift from its performance in 2021. The project achieved four awards in total including Global Sector Leader - Mixed Use, Global Non-listed Sector leader - Mixed Use, Overall Regional Sector Leader, Europe - Mixed Use, and Regional Non-listed Sector leader, Europe - Mixed Use.

Cherrywood in Dublin
Caption Cherrywood in Dublin

Daniel Chang, Hines European head of ESG, said, "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 recognized framework that levels the understanding of ESG in real estate-and are excited that our portfolios continued 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."

What are the GRESB assessments?

Each year, GRESB assesses and benchmarks the ESG performance of assets worldwide, providing clarity and insights to financial markets. The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations.

Note: This is a Marketing Communication.