ING Clarion Rolls Out Sustainable Growth Initiative
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NEW YORK, (July 23) – ING Clarion Partners LLC has introduced a firm-wide program establishing sustainability guidelines for new acquisitions, development projects and the asset management of its real estate investments, it was announced today. The program is designed to encourage transactions involving properties with sustainable design and components while promoting superior asset management practices such as long-term energy management in support of ING Group’s worldwide commitment to reduce its carbon footprint.
New York • July 23, 2008
For Immediate Release
ING CLARION ROLLS OUT SUSTAINABLE GROWTH INITIATIVE
NEW YORK, (July 23) – ING Clarion Partners LLC has introduced a firm-wide program establishing sustainability guidelines for new acquisitions, development projects and the asset management of its real estate investments, it was announced today. The program is designed to encourage transactions involving properties with sustainable design and components while promoting superior asset management practices such as long-term energy management in support of ING Group’s worldwide commitment to reduce its carbon footprint.
“ING Clarion is committed to sustainability as a critical component of our investment program,” said Victoria Kahn, Managing Director at the firm. “This initiative sets forth a series of formal guidelines and goals that will provide the basis for our sustainability effort as we move forward.”
The ING Clarion initiative is based in part on the Leadership in Energy & Environmental Design Rating System (LEED) established by the U.S. Green Building Council. The guidelines adopted by the firm require that in most instances new ground up development be certified as sustainable under the LEED-NC (New Construction), LEED-CS (Core & Shell), or LEED-ND (Neighborhood Development) standards. The firm is targeting a LEED certification of Silver or above.
Acquisitions of new properties will require an assessment to identify sustainable elements and opportunities for improving existing sustainability. For properties currently held in its portfolio, ING Clarion will develop sustainability targets designed to encourage the addition of “green” property characteristics, along with benchmarking to Energy Star ratings.
“Over time, we plan to improve the ‘green’ elements across our portfolio,” said Kahn. “Given the current awareness of the importance of sustainability and the trends in energy demand we think this will benefit our clients, our properties and our tenants.”
Contact: Mike MacMillan
MacMillan Communications, (212) 473-4442, mike@macmillancom.com
About ING Clarion
Founded in 1982, ING Clarion and its affiliates manage almost $50 billion in assets in the private equity, public equity, and public debt sectors of the real estate markets. The ING Clarion organization has almost 500 associates located in major markets throughout the United States.
The firm is the U.S. investment management arm of ING Real Estate, a global real estate company active in investment management, development and finance. With a total business portfolio of almost $160 billion and offices in 21 countries in Europe, the United States, Canada, Asia and Australia, ING Real Estate ranks among the world's strongest real estate companies.
ING Real Estate is part of ING Group, a global financial institution of Dutch origin offering banking, insurance and asset management to over 75 million private, corporate and institutional clients in more than 50 countries.
More information about the firm is available at www.ingclarion.com.
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