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Lendlease

PRI reporting framework 2017

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Pre-investment (selection)

PR 07. Incorporating ESG issues when selecting investments

New selection options have been added to this indicator. Please review your prefilled responses carefully.

07.1. Indicate if your organisation typically incorporates ESG issues when selecting property investments.

07.2. Provide a description of your organisation's approach to incorporating ESG issues in property investment selection.

Each Lendlease Investment Management (LLIM) fund implements a comprehensive environmental, social and governance (ESG) review process during the acquisition due diligence processes.

The due diligence process involves external specialist consultants. If any issues are raised in the specialist consultant's initial report, further reports or reviews are commissioned.

Once the due diligence process is complete the funds take into consideration the sustainability credentials of the asset and the potential cost of enhancing, upgrading, refurbishing or redeveloping the asset and its ongoing operations to align with Lendlease's requirements and future asset strategy. 

07.3. Indicate which E, S and/or G issues are typically considered by your organisation in the property investment selection process, and list up to three examples per issue.

ESG issues

Description [OPTIONAL]

          Environmental risks: A review of compliance with Lendlease’s Global Minimum Requirements (‘GMRs’) for Environment, Health and Safety is undertaken.
        

Description [OPTIONAL]

          Energy efficiency, energy audits, visibility of consumption through sub-metering, certifications such as NABERS Energy, consideration of age of plant and equipment, energy efficiency attributes of energy intensive systems such as HVAC and lighting systems.
        

Description [OPTIONAL]

          Sustainable transport options: Efficient vehicle parking, end of trip facilities, public transport.
        

Description [OPTIONAL]

          Safety, Health and Wellbeing risks: A review of compliance with Lendlease’s Global Minimum Requirements (‘GMRs’) for Environment, Health and Safety is undertaken.
        

Description [OPTIONAL]

          Community aspects: Demographic research, local/regional economic conditions and community 
analysis.
        

Description [OPTIONAL]

          Elimination and registers of hazardous materials including asbestos, polychlorinated biphenyl (PCB). Records and registers of hazardous materials.
        

Description [OPTIONAL]

          Governance issues: Legal, property management, accounting, environmental ratings and 
certifications.
        

Description [OPTIONAL]

          Responsible investment: Ethical usages, cultural heritage and artefacts, indigenous or sensitive 
communities, exposure to environmental lobby group action.
        

Description [OPTIONAL]

          Climate change and extreme weather risks.
        

07.4. Additional information. [Optional]


PR 08. Types of ESG information considered in investment selection

New selection options have been added to this indicator. Please review your prefilled responses carefully.

08.1. Indicate what type of ESG information your organisation typically considers during your property investment selection process.

08.2. Provide a brief description of how this ESG information was incorporated into your investment selection process.

Lendlease's internally managed property funds implement a comprehensive ESG review process during property investment selection.

ESG issues were considered during all investment selection processes. As a result of ESG considerations ESG enhancement costs were factored into all acquisition pricing e.g. costs associated with achieving compliance with Lendlease's Global Minimum Requirements for Health, Safety and the Environment. 


PR 09. ESG issues impact in selection process

New selection options have been added to this indicator. Please review your prefilled responses carefully.

09.1. Indicate if ESG issues impacted your property investment selection process during the reporting year.

09.2. Indicate how ESG issues impacted your property investment deal structuring processes during the reporting year.

          Access to Clean Building Managed Investment Trusts (Australia)
        

09.3. Additional information.

Lendlease's internally managed property funds implement a comprehensive ESG review process during property investment selection.

ESG issues were considered during all investment selection processes. As a result of ESG considerations ESG enhancement costs were factored into all acquisition pricing e.g. costs associated with achieving compliance with Lendlease's Global Minimum Requirements for Health, Safety and the Environment. 


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