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AMP Capital Investors

PRI reporting framework 2019

Export Public Responses

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Property monitoring and management

PR 09. Proportion of assets with ESG targets that were set and monitored

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

Progress Achieved
          Energy and Climate Change
          Water consumption
          Waste generation and percent recycled versus sent to landfill
          NABERS Energy ratings achieved for all rateable assets. Energy performance is primarily measured through NABERS Base Building Energy Ratings and improvement of area-weighted portfolio average.
          Water performance is primarily measured through NABERS Water Ratings and improvement of area-weighted portfolio average for each Fund. Asset-level NABERS Water targets developed.
          Waste performance is primarily measured through average recycling rates for each Fund. Coverage has been steadily increasing across all funds, and data quality has improved.
Progress Achieved
          Undertake annual environment, health and safety (EHS) risk audit. (Environmental Legislative Compliance Committee - ELCC)
          Apply appropriate metrics to measure and report staff diversity and inclusion.
          Measure and report outcomes of community engagement activity.
          ELCC meet monthly & discuss environmental legal, risk & compliance. Internal quarterly hazard inspections on all assets. Bi-annual external audits against risk incident management system & EHSHandbook.
          Diversity and inclusion committee meet regularly. We have written a Reconciliation Action Plan (RAP) that has been endorsed & is anticipated to launch in May 2019.
          Measurable indicators and monitoring process established, e.g. community engagement activities; tenant satisfaction survey results; value of charitable donations raised and staff volunteering hours donated.
Progress Achieved
          Continue to review and maintain policies that reflect best practice governance and ethical operations
          Continue to improve quarterly fund ESG reporting
          Establish sustainable supply chain policy and procedures.
          Ethical operations policies in place. Staff inductions and training carried out. No incidents to report.
          ESG reporting process reviewed & updated. Consistent sustainability framework used as the basis for 2018 Fund ESG Strategy documents and reporting covering all real estate assets
          Sustainable Supply Chain Governance process is currently being developed as part of AMP Capital’s preparation for compliance with the Australian Modern Slavery Act. 2018 (Cth).

09.3. Additional information. [Optional]

ESG strategies and targets are documented for all Funds and cascaded down into asset-level targets and initiatives which are documented in Asset ESG Plans that are signed off by the Head of Sustainability, the Investment Manager, the Property Manager, Operations Manager and Facility Manager. Energy, water and waste targets are benchmarked against competitor buildings.

We monitor performance in various ways, including NABERS energy and water ratings, GreenStar ratings, waste diversion from land-fill, community engagement, charitable activities and financial donations, social events, and outsourced tenant surveys. If a building's rating is lagging, we set strategies with a wide variety of initiatives to improve performance.

The implementation framework for health, safety and regulatory compliance is audited annually, and performance is reported to the AMP Capital Holdings Limited Board on a quarterly basis.

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.

Proportion of property assets these apply to

(in terms of number of property assets)

          Green Star
Proportion of property assets these apply to

(in terms of number of property assets)

          Global Real Estate Sustainability Benchmark
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.

          GRESB (Global RealEstate Sustainability Benchmark)

10.4. Additional information.

NABERS energy and water ratings are conducted across all office and retail assets which fit the rating protocol. At the end of 2018, approximately 95% of office and retail assets had a NABERS energy and water rating. NABERS does not currently cover industrial assets.

Green Star ratings are conducted across new developments and major refurbishments. A Green Star Performance pilot rating was carried out at one asset during 2016, and it achieved a 6 Star rating, only the 4th building in Australia to do so. The lessons learned were then applied to 45 other assets in 2017, all of which achieved Green Star Performance ratings, substantially increasing the proportion of our total portfolio certified using one of the Green Star rating tools.

GRESB is assessed for three of AMP Capital's core funds and three separate mandates, which together cover a significant proportion of our real estate portfolio.