Federated Hermes and MEPC Reinforce Net Zero Aspirations by Becoming Design for Performance Pioneers

07/09/2020

The Better Buildings Partnership is pleased to welcome Federated Hermes and MEPC as Pioneers to the Design for Performance scheme with the addition of two exciting new Pioneer Projects. 

Together they are putting forth the 4 Angel Square office building at NOMA in central Manchester and 11 & 12 Wellington Place in Leeds. For 4 Angel Square, the 200,000 sq. ft. office scheme is targeting operational net-zero carbon, in line with the UK Green Buildings Council definition, and has registered as LETI Pioneer Project, meaning it will seek to achieve the KPI targets set out in LETI’s Climate Emergency Design guide. For 11 & 12 Wellington Place, the building is a 229,206 sq. ft. office development with an all-electric heating system, targeting BREEAM Outstanding. 

Following the recent acquisition of MEPC by Federated Hermes, this partnership approach confirms the joint belief of both parties in the long-term viability of assets like 4 Angel Square, which aim for some of the highest environmental standards possible. The use of the Design for Performance approach will also help ensure alignment between how the buildings have been designed to perform and how they perform in practice, supporting the projects’ ability to meet the net zero operational targets set by the UK Green Building Council and LETI. 

Federated Hermes, a member of the Better Buildings Partnership, is a global leader in active, responsible investing, with $628.8 billion in assets under management as of 30 June 2020. Their investment solutions span 162 equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies and a range of separately managed account strategies. 

MEPC has been a prominent name in UK commercial property for 70 years, with an outstanding track record of responsible development and management of large business estates and urban regeneration projects 

More information on both 4 Angel Square and Wellington Place is available here

Paul Pavia, Head of Development, MEPC:

“Designing and delivering schemes like this is not only our industry’s environmental responsibility; it is our commercial responsibility too. With net-zero looming on the horizon, sustainability is undoubtedly going to be a major factor investor and occupier demand, which may be further intensified by tighter climate policies in the near-future. We are happy to be involved as Pioneers in the Design for Performance initiative.”  

Sharon Brown, Director – Real Estate Risk & Environmental Impact, International at Federated Hermes:

“We are excited to have both 4 Angel Square and 11 & 12 Wellington Place included as Pioneer Projects. Both developments clearly demonstrate how we can actively deliver first class assets which support the need to act on climate change whilst supporting our stated objective to create meaningful spaces for all.”  

Sarah Ratcliffe, CEO, Better Buildings Partnership:

“These projects in Leeds and Manchester are great examples of developments that are setting out on an ambitious trajectory to meet net zero ambitions. We are delighted that Federated Hermes and MEPC are becoming Pioneers and backing up these intentions with the Design for Performance approach to ensure that these projects deliver on their promises.”

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About Federated Hermes 

Federated Hermes, Inc. is a leading global investment manager with $628.8 billion in assets under management as of June 30, 2020. Guided by our conviction that responsible investing is the best way to create wealth over the long term, our investment solutions span 162 equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies and a range of separately managed account strategies. Providing world-class active investment management and engagement services to more than 11,000 institutions and intermediaries, our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes’ more than 1,900 employees include those in London, New York, Boston and several other offices worldwide. For more information, visit FederatedHermes.com.