This report shows public data only. Is this your organisation? If so, login here to view your full report.

EG Funds Management

PRI reporting framework 2019

You are in Direct - Property » Post-investment (monitoring and active ownership)

Post-investment (monitoring and active ownership)

Overview

PR 08. ESG issues in post-investment activities

08.1. Indicate if your organisation, and/or property managers, considers ESG issues in post-investment activities relating to your property assets.

08.2. Indicate whether your organisation, and/or property managers, considers ESG issues in the following post-investment activities relating to your property assets.

          Ongoing management and oversight of assets
        

08.3. Describe how your organisation, and/or property managers, considers ESG issues in post-investment activities related to your property assets.

EG incorporates ESG issues throughout the entire lifecycle of the investment process. Any risks, including ESG risks, identified in our due diligence process for assets acquisitions are included in our Investment Proposals to the Investment Committee.  After acquisition, we continue to monitor these risks and report them quarterly to investors and Investment Committee members.

All assets are closely and actively monitored and managed for performance and compliance. An EG asset manager is dedicated to overseeing the performance and compliance of the asset. The asset manager is responsible for reporting all aspects of the day-to-day operation of the asset. This includes ensuring the asset is complying with all relevant environmental standards while seeking to improve its performance wherever possible. The asset manager is responsible for ensuring all relevant stakeholders are informed and consulted with on an ongoing basis, with feedback incorporated into the management of the asset. This provides a transparent system to safeguard that the asset is performing at its optimal level while ensuring ESG standards are met and where possible exceeded.

ESG risks and opportunities are considered throughout the investment lifecycle of each asset, and initiatives are designed and implemented to improve ESG outcomes. One example is that for the majority of EG assets, external consultants are appointed to assist with designing measures that improve building efficiency (electricity and water usage). For EG developments, we also have proactive and transparent community engagement throughout the planning and construction phases to determine what identify ESG issues and opportunities.

EG incorporates the following active management tools to identify and manage ESG risks:

  • NABERS environmental ratings are undertaken for applicable assets. This can often be a key feature of the asset strategy.
  • Performance monitoring for electricity and water consumption where possible.
  • Lifecycle assessments of plant and equipment to understand the current state of assets to maximise energy efficiency and reduce carbon emissions.
  • Site specific environmental and OH&S risk assessments.
  • Encouraging high levels of tenant interaction to monitor tenant satisfaction.

EG is also focused on achieving social objectives through its developments, including creating a sesnse of community, retaining heritage, creating public spaces and providing community amenities. 


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

Target/KPI
Progress Achieved
          HISOT assets are subject to improvements in NABERS rating (average 2 star uplift targeted)
        
          Reduce energy usage of fund assets
        
          Reduce water usage of fund assets
        
          First three assets have been acquired, and measures are now being implemented to ensure that they both achieve 2 star NABERS uplifts.
        
          Assets acquired are on track to achieve target before disposal.
        
          Assets acquired are on track to achieve target before disposal.
        
Target/KPI
Progress Achieved
          Retain heritage when undertaking development
        
          Provide public space
        
          Undertake community engagement
        
          All heritage value items have been retained whilst undertaking development and conservation plans have been put in place.
        
          Created 5,000+ sqm of publicly accessible open space which enhanced the streetscap of EG's Summer Hill development.
        
          Regular community engagement, liaison and reporting including: town hall meetings, workshops and community initiatives such as “meet the neighbours” community events, car and window cleaning
        
Target/KPI
Progress Achieved
          PRISMS risk assessment report
        
          Due diligence checklist
        
          Regulatory compliance
        
          PRISMS risk assessment report completed for all assets acquired.
        
          Checklist completed for all acquisitions.
        
          Compliance policies updated and complied with.
        

09.3. Additional information. [Optional]


PR 10. Certification schemes, ratings and benchmarks (Private)


Property developments and major renovations

PR 11. Proportion of developments and refurbishments where ESG issues were considered

11.1. Indicate the proportion of active property developments and major renovations where ESG issues have been considered.

(by number of active property developments and refurbishments)

11.2. Indicate if the following ESG considerations are typically implemented and monitored in your property developments and major renovations.

11.3. Additional information. [Optional]


Occupier engagement

PR 12. Proportion of property occupiers that were engaged with

12.1. Indicate the proportion of property occupiers your organisation, and/or your property managers, engaged with on ESG issues during the reporting year.

(in terms of number of occupiers)

12.2. Indicate if the following practises and areas are typically part of your, and/or your property managers’, occupier engagements.

          Provision of route map to nearest public transport for tenants in all EG assets.
        

12.3. Additional information. [Optional]


PR 13. Proportion of green leases or MOUs referencing ESG issues (Private)


Top