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Company’s Latest Communities Report Details Commitment to Responsible Development
THE WOODLANDS, Texas, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) announced today it has once again earned the top ranking in its peer group of Americas Diversified Listed real estate companies by the Global Real Estate Sustainability Benchmark (GRESB). The ranking is part of the 2024 GRESB Real Estate Assessment's Standing Investments Benchmark. The comprehensive actions that helped secure these rankings are detailed in the company’s recent Communities Report and reinforce advancements made across the national portfolio of acclaimed Howard Hughes communities.
Each year, GRESB assesses and benchmarks the performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability topics. The assessments are aligned with international reporting frameworks, goals, and emerging regulations and rankings are determined based on a combination of performance indicators, including risk management, energy consumption, water use, and stakeholder engagement.
“Howard Hughes is committed to building communities that provide an exceptional quality of life deeply rooted in a respect for our natural environment,” said David O'Reilly, Chief Executive Officer of Howard Hughes. “The recent recognition by GRESB is a powerful endorsement of our strategy, our commitment to responsible development, and our work to date.”
Earlier this year, Howard Hughes joined a select group of real estate companies, leading the industry as they received validation of near-term emissions reduction targets by the Science Based Targets initiative (SBTi), the company received validation for three separate near-term targets, committing to reduce Scope 1, Scope 2, and Scope 3 emissions across its business segments. The targets are aligned with the Paris Agreement to limit global warming to 1.5°C and will guide the company’s decarbonization efforts across all strategic developments, operating assets, and regions. This validation underscores a thoughtful, informed approach to sustainability that, along with its recent GRESB score, continues to set Howard Hughes apart in the industry.
“Howard Hughes is dedicated to finding new ways to innovate, manage, and benchmark our performance as we accelerate progress,” Gautami Palanki, Senior Vice President of Sustainability Strategy of Howard Hughes, added. “From 2022 to 2023, we reduced water intensity by more than 25% and energy-related emissions by more than 20% across the Howard Hughes portfolio. Our recent GRESB ranking and SBTi’s validation of our emissions targets are important new milestones on our journey as we continue to improve efficiency throughout the portfolio.”