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CBRE Global Investors

PRI reporting framework 2018

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

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. 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
          Socially Harmful Activities
        
Conducted by
Asset class
Scope and process

The manager of the fund had did not have a formal policy regarding types of building uses for socially harmful activities.

Outcomes

We requested they include the industry types we have on our Exclusion List: Armaments, Weapons, Uranium, Child Labour, Gambling, Prostitution, Pornography etc. and the Manager agreed and we invested in the fund.

Topic or issue
          Green Building Certification
        
Conducted by
Asset class
Scope and process

The manager of the fund did not know it was possible to have a green building certification for industrial/logistics properties and wasn't very engaged on the topic of sustainability.

Outcomes

We worked with the manager to increase their knowledge of the certification process and the manager agreed to construct the warehouse to meet the Green Building Certification for Industrial and we agreed to invest in the venture.

Topic or issue
          Workplace Health and Safety
        
Conducted by
Asset class
Scope and process

The manager came from Australia and was developing properties in China and had targeted to meet only local Chinese workplace health and safety requirements.

We believed the local regulations were not as comprehensive as those from the manager's home country and asked that the workplace health and safety considerations in their CHinese development meet the same requirements as the developments in their home country.

Outcomes

The manager agreed to change their tender documents and required a higher threshold for workplace, health and safety on their sites (consistent with those experienced in Australia). The additional cost was not significant to the project.

Topic or issue
          GRESB Performance - Over many aspects
        
Conducted by
Asset class
Scope and process

The manager had a weak result compared to its peers. We reviewed the documents and noticed inconsistencies and encouraged them to seek specialist advice to improve their processes, policies and collection of ESG data.

Outcomes

The manager agreed, appointed a consultant who reviewed their operations and made recommendations which they implemented (including data collection for monitoring energy and water consumption as well as waste management) and their GRESB performance improved significantly.

09.2. Additional information.


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