(HOUSTON) – Hines, the global real estate investment manager, has been named to Fast Company’s prestigious list of the World’s Most Innovative Companies for 2024. Ranking in the top five of the Urban Development and Real Estate category, Hines is recognized for its achievements in innovation, sustainability and environmental stewardship.
“Hines strives to be the most forward-thinking real estate investment manager in the world and this award is a testament to our relentless pursuit of excellence in sustainability and innovation,” said Laura Hines-Pierce, Co-CEO at Hines. “We’re proud of our net zero commitment, the development of 555 Greenwich Street in New York City, our expanding global timber portfolio and our venture investment and incubation arm, because they underscore our dedication to consistently raising the bar on the industry.”
This year’s list shines a spotlight on businesses that are shaping industry and culture through their innovations. These organizations are setting new standards and achieving remarkable milestones in all sectors of the economy.
Pioneering Achievements in Commercial Real Estate
Hines continues to raise the bar for themselves and the wider real estate industry, achieving multiple pioneering milestones in sustainability and innovation to secure this award. These include:
- Net-Zero Carbon Commitment: A pledge to achieve net-zero operational carbon throughout Hines' building portfolio by 2040 with a 42% elimination of carbon emissions by 2030.
- 555 Greenwich – Greenest Building in New York City: Hines debuted the revolutionary low-energy, high-sustainability office building that touts full electrification to completely eliminate the on-site use of fossil fuels, far surpassing the city’s requirements for buildings to slash emissions 45% by 2030. It also integrates a geothermal heating system, with heat pumps and water-filled pipes that use AI to move heat where it’s needed on each floor, between floors, and even to and from the building next door.
- Expansion of Market-Leading Timber “T3” Portfolio: Hines is the largest timber developer with 26 T3, or timber, transit, and technology, projects. The timber is rapidly renewable, sustainably sourced, cleaner to construct and helps carbon out of the atmosphere.
- EXP by Hines Launch: Hines created a new innovation group, EXP, which consists of Global Ventures, focused on venture-based incubation, investment and partnerships and commercialization of sustainability solutions, creating exponential value together for customers and communities.
Fast Company's editors and writers identified the companies driving progress around the world and across industries, evaluating thousands of submissions through a competitive application process. The result is a globe-spanning guide to innovation today, from early-stage startups to some of the most valuable companies in the world.
“Our list of the Most Innovative Companies is both a comprehensive look at the innovation economy and a snapshot of the business trends that defined the year,” said Fast Company editor-in-chief Brendan Vaughan. “We saw extraordinary innovation across the board in 2023, but we also saw a handful of clear patterns: the growing footprint and impact of AI, the triumphant return of live events, and great leaps forward in climate tech. We face daunting challenges on many fronts, but the solutions we celebrate in MIC give me plenty of hope about the future.”
Fast Company's Most Innovative Companies issue is available online here.
About Hines
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage a $93.2B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 857 properties totaling over 270 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2023.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
