Principal Real Estate Investors earns ENERGY STAR® Partner of the Year—Sustained Excellence Award for 2nd straight year
Principal Real Estate Investors is proud to announce that it received the 2019 ENERGY STAR® Partner of the Year Sustained Excellence Award for continued leadership and superior contributions to ENERGY STAR. This award marks the 2nd consecutive year that Principal Real Estate Investors has earned this recognition, and their accomplishments will be recognized by the U.S. Environmental Protection Agency and the U.S. Department of Energy at a ceremony in Washington, D.C. on April 11, 2019.
As a top 10 global real estate manager1, Principal Real Estate Investors has a long-standing commitment to corporate stewardship and an established track record in Responsible Property Investing, which includes a focus on high-performing and energy-efficient buildings. Since 2013, Principal Real Estate Investors has used a unique, overarching ESG framework called the Pillars of Responsible Property Investing (PRPI) initiative. This framework helps drive asset management and fiduciary governance and strives to deliver positive financial and environmental results. Not only does the PRPI framework guide Principal Real Estate Investors’ approach to real estate investment and management, it also supports their property management partners who handle daily operations across the portfolio.
Principal Real Estate Investors became an ENERGY STAR partner in 2009 and continues to integrate ENERGY STAR as the foundation of its PRPI initiative, allowing for continued success. Since 2008, Principal Real Estate Investors has achieved 18.5% energy savings, avoided more than $52.5 million in cumulative energy costs, and prevented more than 117 thousand metric tons of cumulative CO2 emissions2. In 2018 alone, Principal Real Estate Investors achieved:
- ENERGY STAR certification at 60 office and multifamily properties.
- An average ENERGY STAR score of almost 80 for certified properties, meaning that these properties perform within the top 20% of peers across the county.
- ENERGY STAR certification in 77% of office properties.
- The successful implementation of a variety of programs and initiatives that aim to increase the energy performance of the portfolio, including: targeted communications strategies delivering best practices and tips to property teams, a program to help properties set energy savings goals and identify energy efficiency projects, and a recognition program for high-performing assets.
“We are especially pleased to have been recognized with the Sustained Excellence award, which demonstrates our multi-year commitment to high-performing, energy-efficient buildings,” said Jennifer McConkey, Senior Director of Operations and Sustainability for Principal Real Estate Investors. “Energy efficiency is an ongoing effort and this award validates Principal’s great team-effort focused on delivering value through energy management year in, and year out.”
“I applaud the 2019 ENERGY STAR Award Winners,” said EPA Assistant Administrator for Air and Radiation Bill Wehrum. “Their innovation and leadership enhance America’s economic competitiveness. Reducing costly energy waste improves air quality and public health while protecting the environment.”
The highest honor among ENERGY STAR Awards is the ENERGY STAR Partner of the Year Sustained Excellence Award. EPA presents the Sustained Excellence Award to partners that have already received ENERGY STAR Partner of the Year recognition for a minimum of 2 consecutive years and have gone above and beyond the criteria needed to qualify for recognition. Winners hail from small, family-owned businesses to Fortune 500 organizations—representing energy-efficient products; services; new homes; and buildings in the commercial, industrial, and public sectors.
For a complete list of 2019 winners and more information about ENERGY STAR’s awards program, visit energystar.gov/awardwinners.
1 Managers ranked by total worldwide assets (net of leverage), as of June 30, 2018. “Largest Real Estate Managers”, PENSIONS & INVESTMENTS, October 1, 2018.
2 The information provided is based on data input by individual property teams as of October 2018 into ENERGY STAR Portfolio Manager, with select review and validation.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $74.3 billion in commercial real estate assets (as of December 31, 2018). The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is a dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®. Principal Real Estate includes the companies of Principal Real Estate Investors LLC and Principal Real Estate Europe Limited.
About the Pillars of Responsible Property Investing Initiative
The Pillars of Responsible Property Investing (PRPI) is the overarching environmental, social, and governance initiative undertaken by Principal Real Estate Investors and its property management partners. The PRPI initiative seeks to reinforce the social and economic vitality of markets where Principal Real Estate Investors invests, manage risk, enhance transparency, and raising each property’s competitive stature through improved financial and environmental performance. Through the PRPI initiative, Principal Real Estate Investors has reduced energy use by 18.5% since December 2008, equating to a cumulative $52.5 million in energy cost savings. 89% of Principal Real Estate Investors’ office properties are green certified (LEED and/or ENERGY STAR certified). For more information, please visit our Responsible Property Investing website.
About Principal Global Investors®
Principal Global Investors® leads global asset management at Principal®. As a multi-boutique firm, we bring a focused perspective and offer expertise across a host of asset classes. At our core, we are driven by our purpose to help investors and businesses achieve their financial goals. Our global investment professionals deliver investment solutions for public and private pension funds, foundations and endowments, central banks, insurance companies, sub-advisory arrangements, sovereign wealth funds and individual portfolios.
Principal Global Investors manages approximately $412.7 billion in assets on behalf of over 800 institutional clients located in over 80 countries as well as retirement plans and individual clients, reflecting our worldwide market reach and experience and our commitment to high-quality research and service (as of December 31, 2018).
To find out more, visit us at principalglobal.com.
About ENERGY STAR
ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations—including more than 40 percent of the Fortune 500®—rely on their partnership with the U.S. Environmental Protection Agency (EPA) to deliver cost-saving energy efficiency solutions. Since 1992, ENERGY STAR and its partners helped save American families and businesses nearly 4 trillion kilowatt-hours of electricity and achieve over 3 billion metric tons of greenhouse gas reductions. In 2017 alone, ENERGY STAR and its partners helped Americans avoid $30 billion in energy costs. More background information about ENERGY STAR can be found at: energystar.gov/about and energystar.gov/numbers.
Principal and symbol design and Principal Financial Group are trademarks and service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
Third party rankings and recognitions are no guarantee of future investment success and do not ensure that a client or prospective client will experience a higher level of performance or results. These ratings should not be construed as an endorsement of the advisor by any client nor are they representative of any one client’s evaluation.