(LONDON) – Hines, the international real estate firm, has joined the UK Green Building Council (UKGBC), the world’s largest green building network, to continue its drive to accelerate the ESG agenda, across the built environment, further forward.
The UKGBC is a charity which unites the UK building industry using ESG as a catalyst to positively transform places for everyone. Hines joins its active network to drive peer-to-peer collaboration, implement new sustainability-driven initiatives, and align with industry best practice.
The UKGBC’s overarching aim is to radically improve the sustainability of the built environment by transforming the way it is planned, designed, constructed, maintained and operated. This mission, which spans five important pillars, mirrors Hines ongoing ESG commitment to future-proof the built environment for all:
- Mitigate and adapt to climate change
- Eliminate waste and maximise resource efficiency
- Embrace and restore nature and promote biodiversity
- Optimise peoples’ health and wellbeing; and
- Improve quality of life while creating long-term value for society
In 2021, Hines unveiled an ambitious new ESG strategy to elevate its commitments to environmental, social and governance issues, with a particular focus on the climate emergency, by accelerating its efforts to lead the industry in decarbonisation of the built environment. Hines’ strategy underscores that its work should benefit both planet and people by making a positive impact to the communities it serves. In Europe, this includes coordinating carbon reduction standards and initiatives, including net zero strategies for its Hines European Core Fund (HECF) and Hines European Value Fund 2 (HEVF 2), defining social programs that foster meaningful engagement with stakeholders, and ensure adoption of transparent and accountable governance frameworks, such as GRESB and The United Nations Sustainable Development Goals.
Hines also cemented its position as a GRESB Sector leader in 2021. HECF 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. HECF also 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 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.
In Ireland, Hines’ Cherrywood development in South Dublin also achieved the top GRESB ranking in Europe and achieved Global Sector Leader status for the second year running, attaining an overall score of 96 out of 100 and received a 5-star rating for its 1,300-unit mixed-use development located in the new town centre.
Hines is also an active member of Social Enterprise UK, a leading authority and the largest network of social enterprises in the UK. Social Enterprise UK promotes non-for-profit, community engaging, social and environmental focused organisations. Last year, Hines set a target to spend £100,000 through social enterprises via the services it adopts and through the procurement of services at the properties it manages.
Daniel Chang, Head of ESG – Europe, at Hines, commented:
“We’re excited to announce that we’ve joined the UKGBC, the British arm of the World Green Building Council network, as we aim to ensure that initiatives focused on reducing carbon emissions and fostering social equity, across the built environment, are embedded into our approach to real estate.
“This membership highlights our ongoing commitment to achieving our ambitious ESG goals while working together in accelerating the adoption of higher ESG standards across the commercial real estate sector. Joining the UKGBC will give us an opportunity to collaborate and become part of an active ESG network focused on enabling people and the planet to thrive well into the future.”
“With over 600 members spanning across the built environment, UKGBC represents the voice of the industry’s current and future leaders who are striving for transformational change and we’re delighted to welcome Hines into our membership community.”
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management valued at approximately $83.6 billion¹. In addition, Hines provides third-party property-level services to more than 367 properties totaling 138.3 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling over 492 million square feet. The firm has more than 171 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 62 cities in 13 countries. Hines oversees investment assets under management valued at approximately €21.7 billion and provides third-party property-level services totaling 3.9 million square meters in Europe, in Austria, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain, the Czech Republic, and the United Kingdom.
1. Includes both the global Hines organisation as well as RIA AUM as of 30 June 2021.
UK Green Building Council (UKGBC)
UKGBC is an industry-led network with a mission to radically improve the sustainability of the built environment. With over 600 member organisations spanning the entire value chain, UKGBC represents the voice of the industry’s current and future leaders who are striving for transformational change. It seeks to inspire, challenge and empower its members, helping them to identify and adopt the most sustainable, viable solutions.