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Lendlease

PRI reporting framework 2018

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

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

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

          Reporting against Fund & Corporate targets
        

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, and how they consider ESG factors and real economy impact.

Lendlease's Investment Management business first released a Responsible Property Investment Policy (RPI Policy) in June 2007. The RPI Policy creates a formal framework for ESG and safety factors for all Lendlease managed funds. 

Lendlease's RPI Policy commits to formally evaluating the impacts and risks of ESG issues in its investment and management decision making. This includes developing and implementing sustainability strategies for each of its funds, globally, that address Lendlease's operating principles and key sustainability focus areas. The strategies clearly articulate the sustainability aspirations and performance targets for assets and portfolios, addressing the key ESG factors that will govern how each existing asset and acquisition will contribute to investment value in both sustainable and financial terms.

There are specific sustainability strategies for each fund that provide clear ESG guidelines, objectives, commitments and targets.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

In line with Lendlease Investment Management (LLIM)'s signatory commitment under the United Nations supported Principles for Responsible Investment (PRI), LLIM is committed to creating value for all stakeholders in everything it does by delivering positive economic, environmental and social outcomes whilst operating in an environment that is incident and injury-free. 

LLIM's Responsible Property Investment (RPI) Policy commits the organisation to the following actions:

1. Formally evaluating the impacts and risks of environmental, social and corporate governance (ESG) issues in its investment and management decision making;

2. Developing and implementing sustainability strategies for each of its funds, globally, that address Lendlease Group's operating principles and key sustainability focus areas;

3. Measuring and reporting on ESG criteria;

4. Using green rating tools and labels, where they exist, to benchmark and disclose the ESG performance of assets and portfolios;

5. Engaging and sharing knowledge with stakeholders on ESG issues related to responsible property investment practices, promoting the PRI;

6. Collaborating with industry bodies, government agencies and like-minded stakeholders on tools, labels and incentives which promote sustainable ESG performance in the property and investment industries.

7. Reporting progress annually against its actions. 

The fund specific sustainability strategies described above provided clear ESG guidelines, objectives, commitments and targets for each Lendlease managed property fund.

Lendlease's Code of Conduct commits Lendlease to investing in "people today for their tomorrow" and fostering a culture of diversity and inclusion. This commitment includes support for responsible labour practices that contribute to the development of a fair and inclusive workplace, consistent with international standards such as the OECD guidelines for multinational enterprises, the Universal Declaration of Human Rights, the ILO Declaration on fundamental principles and rights at work and the UN guiding principles on business and human rights. 

Suppliers to Lendlease are expected (at a minimum) to:

- Comply with all relevant, local and national laws and regulations with regards to employment practices, benefits, health and safety and ante-discrimination.

- Advance an inclusive workplace free of discrimination, harassment, bullying and other unlawful behaviour.

- Not use any form of child, forced or involuntary labour and abide with all international standards and domestic regulations relating to the employment of children, and have policies or procedures in place to prevent the use of suppliers of goods and services who engage in such activities. 

- Respect the rights of workers to associate freely with one another and be able to communicate openly with management regarding working conditions without threat of reprisal, intimidation or harassment. 


SG 02. Publicly available RI policy or guidance documents

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

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

URL/Attachment

Other, specify (1) description

          Reporting against Fund & Corporate targets
        

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Indicate if your organisation’s investment principles, and overall investment strategy is publicly available

02.4. Additional information [Optional].

Lendlease Investment Management (LLIM) Responsible Property Investment (RPI) Policy is underpinned by Lendlease Group's Sustainability Framework. Formalised guidelines on environmental, social and corporate governance considerations is publicly available at: 

http://www.lendlease.com/au/company/sustainability/our-approach/#/section/anchor-sustainabilityframework?animate=true

Each of the 12 sustainability elements is explained in detail along with progress made at: http://www.lendlease.com/au/company/sustainability/our-progress/

In response to SG02.3, LLIM's investment principles can be described in each of the fund profile pages. For example:

* https://www.lendlease.com/expertise/what-we-do/investment-management/australian-prime-property-fund-commercial/

* https://www.lendlease.com/expertise/what-we-do/investment-management/australian-prime-property-fund-retail/

https://www.lendlease.com/expertise/what-we-do/investment-management/australian-prime-property-fund-industrial/

 


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Lendlease Investment Management (LLIM) implements several policies that contribute to the management of potential conflicts of interest. These policies include but are not limited to the following:

- Arrangements for Managing Conflicts of Interest (Australia)
- Allocation of Property Asset Investment Opportunities in Australia
- Related Party Transactions Policy
- Core Values
- Code of Conduct
- Employee Conduct Guide
- Code of Conduct Breach Reporting Policy

Several of the policies noted above are publicly available on the Lendlease website (under Company Policies) http://www.lendlease.com/company/governance/

 

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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