DES MOINES, Iowa--(BUSINESS WIRE)--For the third consecutive year, Principal Real Estate Investors has been named an ENERGY STAR® Partner of the Year Sustained Excellence award winner. This recognition, the highest honor among ENERGY STAR awards, is reserved for ENERGY STAR partners that demonstrate outstanding leadership and superior contributions year-over-year.
A top 10 global real estate manager1, Principal Real Estate Investors has been an ENERGY STAR partner since 2009 and continues to integrate energy efficiency into its Pillars of Responsible Property Investing (PRPI) initiative. PRPI is an overarching Environmental, Social and Governance (ESG) framework Principal Real Estate Investors has used since 2013 to continue to strive to deliver positive financial results and ESG outcomes through asset management and fiduciary governance.
“We are proud to receive another Sustained Excellence award as an ENERGY STAR partner,” said Jennifer McConkey, senior director of operations and sustainability for Principal Real Estate Investors. “High-performing, energy-efficient buildings are a key focus area for our investment team and property management partners. Coupled with programs and initiatives that aim to increase the energy performance of the portfolio, this award confirms Principal’s commitment to corporate stewardship and our track record as an industry leader in Responsible Property Investing.”
Since 2008, Principal Real Estate Investors has achieved 16.8% energy savings, avoided more than $64.1 million in cumulative energy costs, and prevented more than 140 thousand metric tons of cumulative carbon dioxide emissions2. In 2019 alone, Principal Real Estate Investors achieved:
- ENERGY STAR certification at 44 office and multifamily properties.
- An average ENERGY STAR score over 84 for certified properties, meaning that these properties perform within the top 16% of peers across the county.
- ENERGY STAR certification in 68% of office properties.
The U.S. Environmental Protection Agency presents the Sustained Excellence Award to ENERGY STAR partners that have already received partner of the year recognition for a minimum of two consecutive years and have gone above and beyond the criteria needed to qualify for recognition.
For a complete list of 2020 winners and more information about ENERGY STAR’s awards program, visit energystar.gov/awardwinners.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $86.4 billion in commercial real estate assets (as of December 31, 2019). The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
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 companies — rely on their partnership with EPA to deliver cost-saving, energy efficiency solutions. Since 1992, ENERGY STAR and its thousands of partners helped American families and businesses save more than four trillion kilowatt-hours of electricity and achieve over 3.5 billion metric tons of greenhouse gas reductions. In 2018 alone, ENERGY STAR and its partners helped Americans avoid nearly $35 billion in energy costs. More background information about ENERGY STAR can be found at energystar.gov/about and energystar.gov/numbers.
Principal, 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.
1 Managers ranked by total worldwide assets (net of leverage), as of June 30, 2019. “Largest Real Estate Managers,” Pensions & Investments (September 2019)
2 The information provided is based on data input by individual property teams as of October 2019 into ENERGY STAR Portfolio Manager, with select review and validation.
