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EG Funds Management

PRI reporting framework 2019

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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. 


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