This report shows public data only. Is this your organisation? If so, login here to view your full report.

Alliance Bernstein

PRI reporting framework 2018

Export Public Responses
Pdf-img

You are in Strategy and Governance » Asset class implementation not reported in other modules

Asset class implementation not reported in other modules

SG 16. ESG issues for internally managed assets not reported in framework

Describe how you address ESG issues for internally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Property

For our property funds, we recognize that there are considerations that go beyond merely achieving a target investment return, which may include certain non-financial objectives such as promoting the use of responsible contractors.   Our ability to address those non-financial considerations is limited to circumstances where such actions are within the fund’s power and authority and are consistent with our fiduciary duties to the investment fund we manage, applicable laws, and any contractual limitations imposed by agreements with third parties. 

16.2. Additional information [Optional].

Due to the nature of the product, we integrate ESG on two levels:

  1. We have a Responsible Contractor Policy which is intended to support and promote the selection of Contractors that provide competitive and high quality construction services to construction projects, utilize appropriately trained employees who receive fair wages and benefits and are reliable and efficient. We believe that the utilization of such contractors can add value to the investments undertaken by ensuring that construction services are provided by adequately trained, experienced and motivated workers who deliver high-quality products and services. The REDG evaluates the governance structure of its borrowers and tries to assess the sustainability of their business models before closing transactions. Almost all of the REDG’s borrowers are institutional, well-known real estate private equity managers who are fiduciaries to some of the largest institutional investors in the world (many of which employ clear ESG priorities). In doing so, the REDG places a premium on the sustainable use of its loan proceeds.
  2. The REDG evaluate how the ESG profile of the assets impacts borrowers’ ability to repay their loans, as sustainable properties are increasingly demanded by tenants. One of the things the REDG looks for is whether the borrowers already adhere to Responsible Contractor Policies that guide how they select contractors for the construction projects occurring at these properties, and who also commonly implement energy efficiency initiatives after they have acquired properties with the help of the REDG's loan proceeds (i.e. installing LED lighting, replacing traditional showerheads with water saving "low flow" showerheads, refurbishment / replacement of certain pieces of HVAC and plumbing equipment to improve efficiency, etc).


SG 17. ESG issues for externally managed assets not reported in framework (Not Applicable)


Top