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Sparinvest S.A.

PRI reporting framework 2017

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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 11. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 12. Examples of ESG issues in selection, appointment and monitoring processes

12.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          Embracing Sustainability Initiatives
        
Conducted by
Asset class
Scope and process

The Principal Enhanced Property Fund (PEPF) is one of our US-based investments which, during 2016, has continued to participate in a number of sustainability initiatives. The fund’s annual report states that management will continue initiatives to improve energy efficiencies and environmentally friendly practices across the Portfolio because it has been demonstrated over the past decade that developing or retrofitting properties to be sustainable or ‘green’ can provide economic benefits to investors and there is a growing universe of tenants favouring or requiring green buildings.

Outcomes

The fund sought or achieved LEED (Leadership in Energy and Environmental Design) or Energy star certification at 18 assets, representing approximately 56% of Gross Asset Value. The fund also ranked fifth out of 31 US diversified property funds that participated in the 2016 Global Real Estate Sustainability Benchmark) "GRESB" report - an industry-led initiative to assess the sustainability performance of real estate portfolios around the world.

Topic or issue
          RPI Training and GRESB reporting
        
Conducted by
Asset class
Scope and process

Also US-based, Hampshire, manager of HUH US Real Estate Income Fund has set itself numerous sustainability goals, recognizing the benefits of incorporating these into its acquisition and asset management practices. During 2016, the fund completed internal Responsible Property Investing (RPI) training and developed an RPI due diligence checklist for new acquisitions. Its Tenant Energy Management Guide was developed to provide actionable, useful information to tenants. To monitor the fund’s progress in achieving its RPI goals, it also participates in the Global Real Estate Sustainability Benchmark) "GRESB" report.

Outcomes

The fund started participating in GRESB in 2014, and has improved the overall score each year. The fund achieved an overall 22% percentage improvement in 2016 across all the GRESB Sustainability Aspects measured. 

Topic or issue
          Green certifications and Green Leases
        
Conducted by
Asset class
Scope and process

Goodman European Partnership (GEP) is one of our European funds. Sustainability is a key part of the Partnership’s operating strategy, designed to increase the long-term value of the portfolio. GEP’s focus is on: pro-actively managing capex investments to maximize sustainability upgrades, improving the sustainable attributes of the existing portfolio, ensuring that new properties meet a high sustainability standard and incorporating sustainable design principles into new developments.

Goodman has a DGNB (German Sustainable Building Council) master plan in place for Germany which standardizes the processes required for the green certification of newly-built projects.

‘Green leases’ are a new development in 2016, introduced to increase sustainability awareness and encourage the tenant to act in a sustainable manner.

Outcomes

In 2015, GEP's achieved its first green star in the GRESB survey and Management is striving to increase its score each year, as it has managed to do for the past 5 years.

24 properties in a portfolio comprising 102 properties have achieved DGNB green certification and a further 7 are in the process of applying for it.

During Q2 2016, at least one green lease clause was included in 97% of the leases signed and 55% of leases signed included all three green lease clauses.During Q2 2016, at least one green lease clause was included in 97% of the leases signed and 55% of leases signed included all three green lease clauses.

Topic or issue
          Focus on E, S and G
        
Conducted by
Asset class
Scope and process

Alpha Asia Macro Trends Fund II (AAMTF II) is an Asian property fund. AAMTF II contributed data to the GRESB Survey and were awarded Green star status. The fund’s annual report sets out achievements in Environmental, Social and Governance areas.

Outcomes

Environmental – the fund has a 5-year plan to engage tenants in the reduction of carbon and has set a target to reduce energy, water consumption and GHG emissions by 10% from baseline year 2012 to end 2017

Social – The fund has had a strong community outreach programme since 2013

A total of 340 CSR hours were clocked in by Alpha staff for official CSR activities in 2016.

Governance – Alpha is a Capital Markets Services License holder, regulated by the Monetary Authority of Singapore and committed to regular and transparent reporting to clients. There is a risk management framework in place and twice yearly external auditing.

12.2. Additional information.


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