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Savills Investment Management

PRI reporting framework 2018

You are in Strategy and Governance » Objectives and strategies

Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

The company's sustainability objectives are documented in a roadmap which is reviewed monthly with our sustainability consultant. These objectives are reviewed and agreed by representatives of the GEC at the beginning of each year calendar year, and assessed half yearly and at year end. The inclusion of a specific delivery method and deadline for each objective provides a reliable way of tracking progress and achievements throughout the year, allowing effective reporting of the company's achievements. The roadmap is also discussed at quarterly ESG Committee meetings.


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          Create and provide training for ESG KPI Scorecard, and determine most effective way to integrate KPI Scorecard metrics into PMC process
        

Progress achieved

In 2017, training guidance was created and rolled out to investment teams specifying ESG criteria for consideration in asset purchase and disposal processes. Our 2018 Roadmap contains objectives to stenghten our processes on and train staff to incorporate better ESG practice in ongoing portfolio management.

The following steps define the 2018 ESG incorporation training target:

  1. ESG Manager to map PMC process further to asses KPI Scorecard integration options. PROGRESS: This action is scheduled for Q2 2018
  2. ESG scorecard to be created, reviewed and signed off, based on ESG guidance already in place in the TAC process. PROGRESS:This action is scheduled for Q2 2018
  3. Implement scorecard within PMC process. PROGRESS:This action is scheduled for Q2 2018

 

Key performance indicator

          Investigate options for a custom ESG training programme and ensure delivery to all staff
        

Progress achieved

The following steps define the 2018 ESG engagement training target:

  1. ESG Manager to meet with HR regarding training methods, budget and approach. PROGRESS: Completed in January 2018. ESG training module created for new joiner training (all staff).
  2. Sustainability Consultant to guide selection process of ESG 'off-shelf'/online training module (or provider selection, if this method preferred). PROGRESS: Completed in January 2018. Online module options identified, and to be selected.
  3. Training delivered to all staff. PROGRESS: First ESG training for new starters will be delivered 12 April 2018. Module for rest of staff to be rolled out in H2 2018.
  4. Conclude with further ESG materiality ranking exercise, for staff. PROGRESS: Savills IM engaged with all staff via a survey in November 2017 to assess materiality of Environmental, Social and Governance issues. The results were assessed and shared with all staff at the end of Q4 2017, and a more in-depth materiality questionnaire is scheduled for Q4 2018 to monitor change ESG in materiality amongst staff.   

Key performance indicator

          Create annual ESG Marketing and PR plan, and implement initiatives throughout the year
        

Progress achieved

The following steps define the 2018 ESG communication target:

  1. Marketing to produce a schedule and action plan for ESG Marketing and PR activity per quarter throughout 2018: PROGRESS: Completed   
  2. Create an action plan for a programme of Green Office initiatives in 2018
    • Establish Green Office Champions (GOC) across global offices. PROGRESS: Completed in UK; to be established in other offices in Q2 2018.
    • Regional Green Office Champions to create and implement schedule of ESG events in the office. PROGRESS: Completed in UK; to be established in other offices in Q2 2018.

Key performance indicator

          Mid-year review of ESG materiality and ranking, and present year end ESG results to GEC
        

Progress achieved

The following steps define the 2018 target to encourage change to management of ESG issues:

  1. Review ESG materiality with GEC, discuss priorities / risk ranking, and alignment with current ESG policy. PROGRESS: This activity is an annual process, established in 2017. The 2017 materiality review took place in November 2017, and the 2018 review will take place in Q3 / Q4 2018.
  2. Deliver 2018 year-end round-up presentation to GEC: PROGRESS: This activity is an annual process, established in 2017. The 2017 year-end GEC presentation took place in December 2017, and will be repeated this year at the end of 2018.

 

Key performance indicator

          Provide training on use of ESG Acquisition / Disposal guidance (as part of TAC process)
        

Progress achieved

In 2017, Savills IM created and rolled out a detailed checklist of ESG consierations for investment teams during acquisition and disposal processes. The 2018 KPI is to provide training on the use of these guidelines to investment teams. PROGRESS: Planned for Q2 2018 onwards.

          Stakeholder engagement
        

Key performance indicator

          Conduct ESG materiality review for external stakeholders including tenants, investors, and peers
        

Progress achieved

Activity is scheduled for Q2-Q3 2018. Results will be mapped against the ESG materality review caried out with staff, and an ESG materiality matrix will be produced to ensure our ESG policies are aligned to our stakeholder requirements.

Financial performance of investments

ESG characteristics of investments

Key performance indicator

          Analyse and create action plan including ring-fenced ESG CapEx budget, for funds 8 funds participating in GRESB; implement Green Building Certification guidance
        

Progress achieved

The following steps define the 2018 target to improve ESG ratings in portfolios:

  1. Purchase and analyse GRESB Benchmark reports, create roadmap for Fun ESG improvements, and budget for ESG improvements via CapEx. PROGRESS: All Benchmark reports now purchased and analysed. Improvement roapdmaps in place and communicated to teams.
  2. At the end of 2017, we created guidelines for investment and development teams on Green Building Certifications, allowing them to make educated devisions about which Green Building Certifications are most appropriate for their assets, and how to implement them. The guidance is in circulation and use, however the 2018 KPI is to provide training on effective use. PROGRESS: Planned for Q2 2018 onwards.                              

Other activities

Key performance indicator

          Create ESG case studies
        

Progress achieved

As part of the target to enhance ESG PR and Marketing, specific steps include the prduction of case studies: PROGRESS: Completed. Case studies have been created and are scheduled to appear on the corporate website in Q1 / Q2 2018.

Key performance indicator

          Publish ESG case studies on website
        

Progress achieved

As part of the target to enhance ESG PR and Marketing, specific steps include the prduction of case studies, to be featured on the corporate website: PROGRESS: Case studies are scheduled to appear on the corporate website in Q1 / Q2 2018.

06.2. Additional information.


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