(LONDON) – Hines, the international real estate firm, has appointed Daniel Chang as Head of Environmental, Social & Governance (ESG) for Europe.
Daniel’s appointment sees the firm strengthen its longstanding commitment to ESG, further supporting its holistic ESG approach globally, and will ensure new initiatives focused on addressing carbon emissions and social equity across the built environment are embedded across Europe and for the benefit of its clients.
Daniel, who previously held the role of Managing Director, Portfolio Management at Hines, will be seated in London, working across Europe and as part of Hines’ wider global ESG team, which is led by Global Head of ESG, Peter Epping, who was appointed to the role in June this year as part of the firm’s unveiling of an ambitious new ESG strategy to elevate its commitments to environmental, social and governance issues.
Daniel began his career at Hines in July 1999 as an assistant construction manager, transitioning into development management and eventually into portfolio management. Daniel holds a Bachelor of Science in Architecture from the University of Maryland and an MBA and Master of Science in Urban Planning from Columbia University.
Over the last several years Daniel has played an instrumental role in spearheading the Hines European Core Fund’s (HECF) drive to become an outstanding sustainability leader, with the fund being consistently recognized for achieving the highest standards of sustainability by GRESB, the leading global Environmental, Social and Governance (ESG) benchmark for real estate and infrastructure investments across the world. Through Daniel’s leadership, HECF ranked the highest in its peer group for the last four consecutive years and has been awarded Global Sector Leader every year since 2017. HECF was also the winner of the Pension Real Estate Association (PREA) Open-end Fund ESG Award in 2020, beating all 59 competing funds. For the past year, he has focused on embedding the same standards of excellence across Hines’ other funds and separate accounts, including HEVF2 and the BVK High Street Retail portfolio.
In his new role he will be responsible for driving a comprehensive ESG agenda across the Hines Europe platform – coordinating carbon reduction standards and initiatives, such as the net zero strategy for the Hines European Core Fund, 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. With his background in various facets of the real estate management, he will continue to focus on integrating embedding ESG into the day-to-day business.
Daniel Chang, Head of ESG - Europe, at Hines, commented:
“I’m excited to head up the ESG agenda at Hines in Europe at a moment where the urgency and need for action has become increasingly clear. The real estate sector has a pivotal role to play in mitigating the impact of climate change and creating healthy and resilient communities and, as such, at Hines we view ESG as an integral part of our approach to delivering future-proofed buildings that are also capable of delivering financial performance. More than ever, we have seen that this resonates particularly with our investors and occupiers alike, who have been stepping-up their ESG focus. At Hines, we have a long-term desire and commitment to ensure ESG is at the front and center of real estate decision making and we will continue to embed it into the business and set ambitious targets for our ourselves and our projects.”
Lars Huber, CEO Europe, at Hines commented:
“Investors and occupiers alike are looking to accelerate their approach to ESG with the knowledge that immediate action needs to be taken to help the environment and create better communities for people to live, work, play and stay. In recent years Daniel has played an integral leadership role in embedding sustainability across our funds, and this new elevated role will help our mission to drive our ESG strategy further forward and build on the good work we’ve already achieved.”
This year alone, Hines has announced its plans for T3 Diagonal Mar in Barcelona, which is the first fully wooden building of its kind to be constructed by Henderson Park and Hines in Europe. Measuring 3,610 square meters, it is a state-of-the-art office building made entirely of wood, with ambitious ESG credentials and fitted out the latest technology. Work on the project began at the end of May and is seeking scheduled completion in 2022. Additionally, Hines has announced its carbon neutral concept for its office asset ‘aer’ in Munich, which was acquired by HEVF 2 in February 2020, with the overarching goal to create a sustainable and innovative working and living environment.
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 and the United Kingdom.
1. Includes both the global Hines organization as well as RIA AUM as of 30 June 2021.