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Public Sector Pension Investment Board

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.

At the property level, ESG issues are considered in various ways in post-investment activities because of the diversity of our real estate partners' approaches to ESG management. Our answers in PR 9.1 to PR 14.3 provide examples of such considerations. At the PSP Investments' portfolio level, bi-annual asset management meetings are held to discuss, among other topics, post-investment ESG issues that are relevant to our portfolio assets.

Note that due to the large number of properties PSP Investments is invested in, our answers to questions PR 9 to PR 14 and PR 16 are based on a sample of properties that represent 80% of the total number of PSP Investments' properties as at March 31, 2017.


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
          Energy consumption efficiency; renewable energy purchase; energy ratings (e.g. NABERS); green building certifications; installation of environmental technology
Water consumption efficiency
Waste minimization and recycling
        
          
        
          
        
          Our property managers set a combined total of 45 environmental targets in 2017,31 were achieved and 14 are long-term and still in progress.
        
          
        
          
        
Target/KPI
Progress Achieved
          Tenant / employee education and awareness activities .
Community/resident engagement programs and events 
Occupier satisfaction surveys
Accessibility projects
Supplier ESG assessment
Human rights policy implementation
        
          
        
          
        
          Our property managers set a combined total of 24 targets in 2017,23 were achieved while 1 is still in progress.
        
          
        
          
        
Target/KPI
Progress Achieved
          Board effectiveness
GRESB survey participation
External assurance on ESG performance 
ESG risk assessment
Sustainability reporting
Anti-bribery and corruption programs
        
          
        
          
        
          Our property managers set a combined total of 13 governance targets in 2017. All were achieved or exceeded.
        
          
        
          
        

09.3. Additional information. [Optional]

The majority of PSP Investments' real estate assets is managed by real estate partners. Our partners have diverse approaches to ESG target setting and the targets indicated in PR 12.2 are examples of ESG targets some of our partners have implemented.

Property managers have various targets on these KPIs which are monitored closely with a view of improving efficiency over time.

Note: The targets described above are at year end based on a sample of our portfolio representing 80% of our properties. 


PR 10. Certification schemes, ratings and benchmarks

10.1. Indicate whether your property assets are assessed against certification schemes, ratings and/or benchmarks

10.2. List the certification schemes, ratings and/or benchmarks your property assets are assessed against and what proportion of your property assets they apply to.

Specify
          GRESB
        
Proportion of property assets these apply to

(in terms of number of property assets)

Specify
          Energy Star
        
Proportion of property assets these apply to

(in terms of number of property assets)

Specify
          BREEAM
        
Proportion of property assets these apply to

(in terms of number of property assets)

10.3. Indicate if your organisation uses property specific reporting standards to disclose information related to your property investments’ ESG performance.

10.4. Additional information.

Other certification schemes, ratings and/or benchmarks our property assets are assessed against include: LEED, BOMA BEST Sustainable Buildings certification (Building Environmental Standards, Canada), DGNB (Deutsches Gütesiegel Nachhaltiges Bauen, Germany) , HQE (Haute Qualité Environnementale, France), Green Building Council of Australia’s Green Star rating, NABERS (National Australian Built Environment Rating System), Energy Performance Certificates, REALpac Energy Benchmarking, Cal Green component of California Building Code: 9.

All of these certification schemes, ratings and/or benchmarks apply to less than 10% of our property assets.


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]


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

13.1. Indicate the proportion of all leases signed during the reporting year that used green leases or the proportion of Memoranda of Understandings (MoUs) with reference to ESG issues.

(in terms of number of leases or MoUs)

13.2. Additional information.


Community engagement

PR 14. Proportion of assets engaged with on community issues

14.1. Indicate what proportion of property assets your organisation, and/or your property managers, engaged with the community on ESG issues during the reporting year.

(in terms of number of property assets)

14.2. Indicate if the following areas and activities are typically part of your, and/or your property managers’, community engagement.

14.3. Additional information.


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