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EG Funds Management

PRI reporting framework 2019

Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]

Strategy and Governance

Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Innovation [SG 18] Communication [SG 19]

Direct - Property

Overview [PR 01] Fundraising of property funds [PR 02 - 03] Pre-investment (selection) [PR 04 - 06] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Property developments and major renovations [PR 11] Occupier engagement [PR 12 - 13] Community engagement [PR 14] Outputs and outcomes [PR 15 - 16]

Confidence building measures

Confidence building measures [CM1 01 - 07]

Export Public Responses

You are in Direct - Property » Selection, appointment and monitoring third-party property managers

Selection, appointment and monitoring third-party property managers

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

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

Yes

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

Selection process of property managers incorporated ESG issues

Types of actions

Request explanation of how ESG is effectively integrated, including inquiries about governance and processes

Request track records and examples of how the manager implements ESG in their asset and property management

Discuss property level out-performance opportunities through greater integration of ESG criteria

Request explanation of engaging stakeholders on ESG issues

Other, explain

Coverage

>75% to 100%

>50% to 75%

<50%

Contractual requirements when appointing property managers includes ESG issues

Types of actions

Include clear and detailed expectations for incorporating ESG

Require dedicated ESG procedures in all relevant asset and property management phases

Clear ESG reporting requirements

Clear ESG performance targets

Other, explain

Coverage

>75% to 100%

>50% to 75%

<50%

Monitoring of property managers covers ESG responsibilities and implementation

Types of actions

Performance against quantitative and material environmental / resource targets over specified timeframe.

Performance against quantitative and material environmental / resource targets against relevant benchmarks

Performance against quantitative and qualitative targets to address social impacts of the portfolio/investment,

Other, explain

Coverage

>75% to 100%

>50% to 75%

<50%

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.

EG’s Asset Management Committee meets on a fortnightly basis to discuss the progress of our current investments (including discussions on ESG) and conduct oversight over the asset, including the performance of third-party property managers. Our asset management team is trained on ESG matters and therefore incorporates an analysis of ESG factors when considering the performance of third-party property managers.

EG has stipulated ESG reporting requirements in relation to electricity, gas and water usage in all of its new property management agreements.

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