Energy Efficiency, GHG Emissions, Sourcing Renewables  -  June 30, 2022

Hines Sets 2040 Goal

Hines announced that it is setting a target of net zero operational carbon by 2040.

The global real estate firm seeks to accomplish this goal by reducing emissions through renewable technologies and without purchasing carbon offsets.

Hines will invest heavily in sustainable initiatives throughout its portfolio of 1,530 properties in 285 cities across 28 countries.

To achieve this science-based goal, Hines will work to reduce carbon throughout its portfolio by electrifying fossil fuel-based systems within its buildings, utilizing circular systems principles to reduce energy waste and increase system efficiency and pursuing onsite and off-site renewables that promote renewable energy development. Hines is establishing agreements with third-party partners to provide data to track progress on energy consumption and ongoing emissions reductions.

"As the impact of climate change is becoming increasingly integrated into our lives every day, the real estate industry has a responsibility to acknowledge this growing problem and take meaningful action to reduce our collective carbon emissions," said Jeff Hines, the chairman and co-CEO of Hines, in a statement. "By seeking to achieve net-zero operational carbon without relying on offsets, Hines wants to raise the bar for sustainability and invest in a plan designed to achieve significant and tangible results."