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APG Asset Management

PRI reporting framework 2018

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Selection, appointment and monitoring third-party property managers

PR 07. ESG issues in selection, appointment and monitoring of third-party property managers

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

07.1. Indicate if your organisation includes ESG issues in your selection, appointment and/or monitoring of third-party property managers.

07.2. Indicate how your organisation includes ESG issues in your selection, appointment and/or monitoring of third party property managers.

Types of actions

Coverage

Types of actions

Coverage

Types of actions

Coverage

07.3. Provide a brief description of your organisations selection, appointment and monitoring of third party property managers and how they contribute to the management of ESG issues for your property investments.

Third-party property managers are selected, appointed and monitored using the following tools:

  1. Mandatory Due Diligence Questionnaire ('DDQ') including ESG questions
  2. ESG Consultation: Internal meeting with PM to discuss any potential issues arising out of DDQ and how to resolve these
  3. ESG Implementation: External meeting with manager to explain the issues and propose solutions and potential implementation of ESG conditions in contracts (for example: GRESB participation is mandatory and we expect new investments to become a GRESB 4 or 5 star within 3 year).
  4. Formal Assessment: GRIG Specialist provides written opinion for review by Investment Committee (chaired by CIO)
  5. Annual (Manager) Review: review if conditions were met
  6. Ongoing Engagement (mainly based on GRESB results)

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