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CBRE Global Investors

PRI reporting framework 2018

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Post-investment (monitoring and active ownership)

Overview

PR 08. ESG issues in post-investment activities

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

08.1. Indicate if your organisation, and/or property managers, considers ESG issues in post-investment activities relating to your property assets.

08.2. Indicate whether your organisation, and/or property managers, considers ESG issues in the following post-investment activities relating to your property assets.

08.3. Describe how your organisation, and/or property managers, considers ESG issues in post-investment activities related to your property assets.

A business plan is developed for every asset post-investment which includes ESG strategies that align with the fund's portfolio ESG strategy. The implementation of the business plan (including ESG issues) is monitored on a quarterly basis by the portfolio team.

The fund's portfolio ESG strategy is reviewed on a semi-annual basis as part of the Portfolio Oversight Committee process. The Portfolio Oversight Committee is comprised of the Investment Committee.

We discuss ESG matters with property managers on an ongoing basis and incorporate ESG initiatives to address any ESG deficiencies identified during the due diligence process.

 

 


Property monitoring and management

PR 09. Proportion of assets with ESG targets that were set and monitored

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

09.1. Indicate the proportion of property assets for which your organisation, and/or property managers, set and monitored ESG targets (KPIs or similar) during the reporting year.

(in terms of number of property assets)

09.2. Indicate which ESG targets your organisation and/or property managers typically set and monitor

Target/KPI
Progress Achieved
          Science-based reduction target for carbon emissions.
        
          Increase number of green certified assets
        
          Increase GRESB scores.
        
          Implementing monitoring systems currently.
        
          Implementing monitoring systems currently.
        
          GRESB scores increased over 11% in the last year and 12 out of 16 of our funds reporting received Green Stars.
        
Target/KPI
Progress Achieved
          Improve results from tenant satisfaction surveys.
        
          Improve results from employee satisfaction survey.
        
          Gender diversity percentage to meet set benchmarks.
        
          Implementing central monitoring system currently.
        
          In 2017, established the baseline which will be used going forward.
        
          In 2017, established the baseline and targets which will be used going forward.
        
Target/KPI
Progress Achieved
          Set up Global Responsible Investment Management Committee.
        
          60% of employees will complete an online compliance training on conflicts of interest.
        
          Include downside scenarios with analyses of risks related to potential political changes in our investment documentation.
        
          This was achieved. In addition, the Global RIMCo became active in guiding our ESG initiatives in 2017.
        
          This was achieved.49% of employees completed the training.
        
          Implemented in 2017.
        

09.3. Additional information. [Optional]

We set ESG KPIs for each fund rather than for the Firm as a whole given the differing nature of each strategy and region. 


PR 10. Certification schemes, ratings and benchmarks (Private)


Property developments and major renovations

PR 11. Proportion of developments and refurbishments where ESG issues were considered

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

11.1. Indicate the proportion of active property developments and major renovations where ESG issues have been considered.

(by number of active property developments and refurbishments)

11.2. Indicate if the following ESG considerations are typically implemented and monitored in your property developments and major renovations.

11.3. Additional information. [Optional]

We have one property under construction in Europe which will be WELL certified and are examining where the WELL certification might be appropriate for others.


Occupier engagement

PR 12. Proportion of property occupiers that were engaged with

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

12.1. Indicate the proportion of property occupiers your organisation, and/or your property managers, engaged with on ESG issues during the reporting year.

(in terms of number of occupiers)

12.2. Indicate if the following practises and areas are typically part of your, and/or your property managers’, occupier engagements.

12.3. Additional information. [Optional]


PR 13. Proportion of green leases or MOUs referencing ESG issues (Private)


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