Analysts are responsible for the systematic analysis of the impact of environmental, social and governance factors on the companies they cover and are expected to take all such factors into account when formulating “quality” inputs into our relative value analysis (RVA) model, which provides a framework for investment decision-making, as well as when recommending transactions to the portfolio managers. The integration of this approach is less formal in relation to investment strategies beyond real estate, although such strategies account for a small percentage of our assets under management.