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Legal & General Investment Management (Holdings)

PRI reporting framework 2018

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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.

Social sustainability for our properties is equally important for our business. We need to ensure that our investments deliver long-term benefits for the communities that live near, or work in, our properties, so we are committed to engaging with them throughout our ownership of the asset. Community engagement occurs at both our multi-let and development sites, where helping the environment and our neighbours encourage a long-term beneficial relationship.

Community engagement is measured quarerly in our Quarterly Sustainabiltiy Reports (QSRs) on each asset and across each fund .  All stakeholder feedback is assessed by our Project Green Committee charied by LGP's managing director.

LGP also has a board level committment to monitor community engagement and has recently partnered with the British Council of Offices to develop a Social Value Assessment Methodolgoy, which is alos being adopted by Local Authorities for their planning requirements.

The legacy of our decisions is felt by the communities that live near and work in our properties for many years after our initial investment. By engaging with communities throughout the life of the investments, we believe we can strengthen local areas and build engagement with our properties, in turn increasing the long-term value of the built environment. We also recognise that encouraging our employees to engage with community projects can play a role in their on-going training and development. Community engagement is embedded and encouraged throughout our operations.

We include community engagement in our Annual Action Plans and repeat all activities via the Quarterly Sustainability Reports (QSR). Encouraging community engagement, not only allows for additional interaction with tenants and our ability to support the local area, but can also lead to enhanced footfall in retail and tenant attraction.