“I wanted to take a moment to thank the EVORA team for all of the hard work, diligence and creativity throughout the year to deliver these outstanding GRESB results. As the impact of climate change accelerates, so should our ESG efforts, and I am happy to say that as a team we have been able to keep our eye on the ball and prepare the HECF portfolio in order to stay one step ahead. I look forward to continuing to sharpen our pencils as we move forward.”
Daniel Chang
Managing Director, Hines
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Case Study information
The Challenge
EVORA Global has supported the Hines Pan-European Core Fund (HECF) with the GRESB survey for four consecutive years. In Year 1, EVORA successfully won a competitive pitch to lead HECFthrough their first-ever GRESB submission for a property portfolio covering six countries. EVORA Global was selected due to our profound GRESB knowledge, coupled with our market-leading track record on the application of value. In Years 2, 3 & 4 of our engagement, we were charged with maintaining and where possible improving on the client’s sustainability and GRESB performance.
Key Outcomes
Key parts of the strategy include:
- Sustainability (ESG) framework enhancement to ensure a targeted, consistent and practical sustainability programme was implemented
- Engaging with key stakeholders and property/asset managers to collect and report data via SIERA
- Energy efficiency audits
- Green building certifications
- Training sessions
- Development of INREV and entity sustainability reports
- Performing a gap analysis to assess alignment with TCFD recommendations and developing a roadmap to address these gaps
- Assessments of climate related physical, social and transition risks
- Setting a science-based carbon reduction target for the fund
Also key to our success was effective engagement with the wider Hines business, including Human resources and Risk Management teams, to ensure development of the most appropriate responses and supporting evidence.
