COMPANY AWARDED “GREEN STAR” STATUS IN WHAT IS PINE TREE’S FIRST YEAR PARTICIPATING IN THE ANNUAL ESG PERFORMANCE SURVEY
NORTHBROOK, Ill. (September 21, 2016) – Northbrook-based Pine Tree, LLC today announced its results from the 2016 Global Real Estate Sustainability Benchmark (GRESB) Real Estate assessment, which measures environmental, social, and governance (ESG) performance of real assets and real estate companies around the world. Awarded an overall “Green Star” status representing the highest possible rank awarded to GRESB members, Pine Tree also ranked first place among its peers in the retail/non-listed sector, earning “Regional Sector Leader” status in what is the company’s first year participating in the annual GRESB survey.
“We are incredibly proud to be among GRESB’s newest members as Pine Tree’s official sustainability objectives begin to roll-out,” said Erin Bremen, EVP Asset Management and Due Diligence. “Having been awarded GRESB’s ‘Green Star’ status in our first year, our whole team is more excited than ever to continue making innovative and sustainable improvements to our company and portfolio in a way that best impacts our employees, tenants, stakeholders, and the environment.”
Nearly 760 real estate companies and funds in 63 countries participated in GRESB’s 2016 assessment measuring benchmarks regarding stakeholder engagement, policy/disclosure, health and well-being, and environmental performance indicators, among others. In addition to measuring, assessing and ranking real assets and real estate companies in its annual assessment, GRESB also identified trends in sustainability within the industry and its participants. GRESB’s 2016 North America assessment snapshot indicated that the industry saw a 2.88% reduction in energy consumption, a 3.29% reduction in carbon emissions, a 1.04% reduction in water usage, and 967,842 tons of waste diverted from landfills.
About Pine Tree:
Pine Tree, LLC is a full-service real estate company specializing in retail based in Northbrook, Ill. Since its founding in 1995, Pine Tree has acquired and developed 91 properties with an aggregate value of over $1 billion. The company’s projects are located across the United States.
GRESB is an industry-driven organization committed to assessing the ESG performance of real assets globally, including real estate portfolios and infrastructure assets. More than 200 members, of which about 60 are pension funds and their fiduciaries, use the GRESB data in their investment management and engagement process, with a clear goal to optimize the risk/return profile of their investments.
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