Hines Publishes 2023 ESG Report
- Hines focuses on creating sustainable value through innovative ESG initiatives.
- Highlights include responsible investments, net-zero carbon targets, and thriving communities.
Hines, a global leader in real estate investment, has released their 2023 Environmental, Social, and Governance (ESG) Report.
Sustainability
The company's sustainability initiatives include the following:
- Responsible Investments: Integrating sustainability factors into their holdings, with over $24 billion in assets aligned with sustainability best practices.
- Climate Action: Recognising the impact of climate change on investments, the company sets ambitious carbon reduction targets and conducts physical climate risk assessments.
- Performance: Over half of Hines' rentable area has green building certifications, which promote energy efficiency and environmental responsibility.
Communities
Their social commitments include the following:
- Promote Social Value: Focus on activating social value in their properties, building healthy and inclusive communities.
- Community Investment: Supporting partnerships, philanthropy, and volunteer initiatives.
Transparency and Leadership
- Science-Based Targets: Their interim 42% operational carbon reduction target for 2030 is approved by the Science Based Targets initiative.
- Reporting Frameworks: Reporting ESG performance through frameworks like GRESB, PRI, and PREQIN.
“In a higher-for-longer environment, we believe having innovative sustainability solutions is paramount to create alpha, and ultimately a more resilient global real estate portfolio. We’re proud of our sustainability efforts around the world, and the consistent engagement from our employees, investors and the communities in which we live, work and invest,” said David Steinbach, Hines’ Global Chief Investment Officer. “Having an understanding of sustainability best practices and climate risk continues to be a critical factor in driving sustainable value at the asset and portfolio level on behalf of our investors and partners.”
“From our responsible investment practices, to our robust sustainability goals, Hines takes pride in creating and implementing innovative ESG initiatives, and the benefits are evident across all aspects of our business,” said Sonny Masero, Hines Managing Director of Global ESG. “Over the last few years, we have seen rapid changes in the Sustainable Real Estate Investment market at the end of an investment cycle. We believe that as we enter a new cycle, sustainability’s role in helping to generate returns will continue to grow and will be at the forefront of how we think about investing.”
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Source: Hines
