The Howard Hughes Corporation Recognized as a Global Industry Leader in Sustainability
The Howard Hughes Corporation (NYSE: HHC) announced today it has been recognized by GRESB for its sustainability leadership, earning the top ranking in the U.S. Diversified Listed peer group for the 2022 GRESB Real Estate Assessment’s Standing Investments Benchmark. The company was also recognized as Sector Leader in the Americas Diversified category for its sustainability performance and best practices within the real estate industry.
Each year, GRESB assesses and benchmarks the performance of real estate funds and companies worldwide, providing clarity and insights to financial markets on complex sustainability topics. GRESB Assessments are guided by what investors and the real estate industry consider to be material sustainability issues and are aligned with international reporting frameworks, goals, and emerging regulations.
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HHC’s first-place peer group ranking was determined by its strong portfolio-wide performance including tenant and community engagement, energy consumption, greenhouse gas emissions, water use, waste management, and building certifications. Two key scoring components of the Real Estate Assessment include management and performance. The management component measures an entity’s overall strategy and leadership, approach to stakeholder engagement, and policies and processes. The performance component measures an entity’s environmental and social performance.
“At Howard Hughes, we have maintained an unwavering commitment to our founding principles of stewardship: the creation of self-sustaining ecosystems that prize inclusion, conservation, innovation, and a strong social fabric that improves the lives of all of our community members,” said David R. O’Reilly, Chief Executive Officer of The Howard Hughes Corporation. “I am proud of our HHC team and their dedicated efforts to promote environmental and social best practices across our national portfolio, as we continue to explore and evaluate new initiatives, set new goals, and expand programs that keep our people and our places at the center of our strategy.”
The GRESB Sector Leader designation recognizes real estate and infrastructure companies, funds, and assets that have demonstrated outstanding leadership in sustainability each year, earning the top score or within one point of the top score in their category. Ranked a Sector Leader, HHC is the best performer in the Diversified Listed sector in the Americas region for the GRESB Real Estate Assessment.
“GRESB Sector Leaders are the top performing organizations leading the way and pulling the industry forward,” said Sebastien Roussotte, CEO of GRESB. “We applaud this year’s Sector Leaders for their commitment, leadership, and dedication to ESG and sustainability.”
The Howard Hughes Corporation integrates environmental, social, and governance best practices across its portfolio, building upon its decades-long experience and reputation for excellence and innovation. With a portfolio of large-scale, mixed-use master planned communities that is the largest of its kind in the country, spanning approximately 118,000 gross acres across six states, the company advances resiliency, conservation, and inclusion throughout its communities to ensure their long-term sustainable growth.
Source: GRESB and The Howard Hughes Corporation