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British Columbia Investment Management Corporation

PRI reporting framework 2019

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Outputs and outcomes

PR 15. ESG issues affected financial/ESG performance

15.1. Indicate whether your organisation measures how your approach to responsible investment in property investments has affected financial and/or ESG performance.

15.2b. Describe the impact on the following.

Describe the impact on:
Impact
Funds' ESG performance

15.3. Describe how you are able to determine these outcomes.

Through our on-line Sustainability management tool we track energy, water and waste performance for each property where we have operational control.  We require property teams to complete an annual target-setting process to help them reduce energy and water use and improve waste diversion.  With this data, we set our GHG reduction target and ensure we are staying on track to achieve it.


PR 16. Examples of ESG issues that affected your property investments

16.1. Provide examples of ESG issues that affected your property investments during the reporting year.

ESG issue
          Energy efficiency and GHG disclosure
        
Types of properties affected
          All properties
        
Impact (or potential impact) on investment

Tenant retention and engagement.

Activities undertaken to influence the investment and the outcomes

Efficient use of resources is a priority across all properties. We published water efficiency, GHG emissions, Energy Star score and normalized energy use intensity on our leasing pages. 

ESG issue
          Waste management
        
Types of properties affected
          All properties
        
Impact (or potential impact) on investment

Tenant engagement and retention, reduced footprint.

Activities undertaken to influence the investment and the outcomes

Comprehensive waste management program, including recycling programs for paper, metal, plastic, glass, light bulbs, electrical components and tenant composting.

Through our green certification program, we also incorporated target-setting for waste, to improve diversion rates and raise awareness at properties.

 

ESG issue
          Use of sustainable materials
        
Types of properties affected
          All properties
        
Impact (or potential impact) on investment

Tenant retention, reduced footprint.

Activities undertaken to influence the investment and the outcomes

Use of products with recycled content, use of sustainable materials, use of durable products to reduce repairs and replacement costs, use of locally manufactured products.

ESG issue
          Improving energy efficiency
        
Types of properties affected
          All properties
        
Impact (or potential impact) on investment

Tenant retention, reduced emissions, and operating expenses.

Activities undertaken to influence the investment and the outcomes

Operational optimization programs and control upgrades to reduce overall energy consumption.

We expanded this program to include the Residential portfolio. We also delivered some cost savings through a portfolio-wide energy audit process.

 

16.2. Additional information. [Optional]

 


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