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Ontario Pension Board (OPB)

PRI reporting framework 2017

Basic Information [OO 01 - 09] Gateway asset class implementation indicators [OO 10 - 12]

Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Implementation not in other modules [SG 12 - 16] Innovation [SG 17]

Indirect – Manager Selection, Appointment and Monitoring

Overview [SAM 01 - 02] Listed Equity and Fixed Income Strategies [SAM 03 - 04] Selection [SAM 05 - 06] Monitoring [SAM 08 - 10] Outputs and outcomes [SAM 11 - 12] Communication [SAM 13]

Direct - Listed Equity Active Ownership

Engagement [LEA 01 - 16] Overview [LEA 01 - 02] Process [LEA 03 - 10] Process for engagements conducted with/on your behalf by service providers [LEA 07 - 08] General processes for all three groups of engagers [LEA 09 - 10] Outputs and outcomes [LEA 11 - 15] Communication [LEA 16] (Proxy) voting and shareholder resolutions [LEA 17 - 27] Overview [LEA 17] Process [LEA 18 - 22] Outputs and outcomes [LEA 23 - 26] Communication [LEA 27]

Direct - Property

Overview [PR 01 - 04] Pre-investment (selection) [PR 07 - 09] Post-investment (monitoring and active ownership) [PR 11 - 17] Overview [PR 11] Property monitoring and management [PR 12 - 13] Property developments and major renovations [PR 14] Occupier engagement [PR 15 - 16] Communication [PR 20]

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Selection, appointment and monitoring third-party property managers

PR 10. ESG issues in selection, appointment and monitoring of third-party property managers

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

10.1. Indicate if your organisation includes ESG issues in your selection, appointment and/or monitoring of third-party property managers.

Yes

10.2. Indicate how your organisation includes ESG issues in your selection, appointment and/or monitoring of third party property managers.

Selection process of property managers incorporated ESG issues

Types of actions

Request explanation of how ESG is effectively integrated, including inquiries about governance and processes

Request track records and examples of how the manager implements ESG in their asset and property management

Discuss property level out-performance opportunities through greater integration of ESG criteria

Request explanation of engaging stakeholders on ESG issues

Other, explain

Coverage

75-100%

50-75%

25 – 50%

0 – 25%

Contractual requirements when appointing property managers includes ESG issues

Monitoring of property managers covers ESG responsibilities and implementation

Types of actions

Performance against quantitative and material environmental / resource targets over specified timeframe.

Performance against quantitative and material environmental / resource targets against relevant benchmarks

Performance against quantitative and qualitative targets to address social impacts of the portfolio/investment,

Other, explain

Coverage

75-100%

50-75%

25 – 50%

0 – 25%

10.3. Provide a brief description of your organisations selection, appointment and monitoring of third party property managers and how they contribute to the management of ESG issues for your property investments.

OPB selects property managers who are committed to maintaining and improving our real estate assets to OPB’s clean, modern, green and safe standards. As representatives of OPB, the property managers must have the expertise, capabilities and desire to effectively manage ESG issues. OPB receives regular reports on each of its real estate properties and must review and approve any major leases and expenditures. Update meetings are conducted at least quarterly to discuss performance, ongoing initiatives, capital expenditures and other issues at each property.

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