For the second year in a row, the Healthcare of Ontario Pension Plan (HOOPP) has earned a Green Star, the highest ranking awarded in the 2014 Global Real Estate Sustainability Benchmark Survey (GRESB). HOOPP was ranked second in its peer group of North American diversified real estate portfolios.
The dynamic GRESB benchmark is used by institutional investors to engage with their investments to improve the sustainability performance of their portfolios (public, private and direct), and the global property sector at large. The survey has quickly become the international standard for assessing sustainability in the real estate industry.
“By investing in healthy, energy efficient and high-performing buildings, we are delivering long-term benefits to our tenants and our members,” said Stephen Taylor, Vice President, HOOPP Real Estate. “Our performance across all categories demonstrates our commitment to leading sustainability practices, and HOOPP is now recognized as a world leader in this area,” added Lisa Lafave, Senior Portfolio Manager, HOOPP Real Estate.
The GRESB Survey is now supported by 46 institutional investors which represent a total of $5.5 trillion in assets. In 2014, the survey included 637 property portfolios representing assets valued at $2.1 trillion.
HOOPP is looking to build on its recent success and has already rolled out new sustainability initiatives to further improve performance. These initiatives include the integration of sustainability into the asset selection and the development of property management tools to engage tenants.
HOOPP also celebrates its property managers and tenants for excellence in energy performance and environmental sustainability through its annual LEAP (Leadership in Environmental Advancement Program) awards.
About the Healthcare of Ontario Pension Plan
Created in 1960, HOOPP is the pension plan of choice for Ontario’s hospital and community-based healthcare sector with over 470 participating employers. HOOPP’s 286,000 members and pensioners include nurses, medical technicians, food services staff and laundry workers, and many other people who work hard to provide valued Ontario healthcare services.
As a defined benefit plan, HOOPP provides eligible members with a retirement income based on a formula that takes into account a member's earnings history and length of service in the Plan. Once eligible members start receiving a pension, they receive it for life. About 80 cents of every pension dollar paid out comes from investment returns.
HOOPP is governed by a Board of Trustees with representation from the Ontario Hospital Association (OHA) and four unions: the Ontario Nurses' Association (ONA), the Canadian Union of Public Employees (CUPE), the Ontario Public Service Employees' Union (OPSEU), and the Service Employees International Union (SEIU). The unique governance model provides representation from both management and workers in support of the long-term interests of the Plan.