The delivery of sustainable long-term returns is a central requirement of our clients, so we assess environmental, social and governance (ESG) risks in conjunction with the financial position of our investments.
Recognising the specific challenges of the asset class, our approach to Responsible Investment in Property incorporates the consideration of ESG factors prior to the acquisition of any property, during all refurbishments and in day-to-day management.
To ensure the best possible implementation, and recognising the need for specialist knowledge, we have employed our third party managing agents, BNP Paribas Real Estate Services, to provide additional due diligence and property management. This ensures that we recieve comprehensive information on properties' ESG standards, allowing CCLA to properly assess the assets' value, and benefit from their network of service providers. This relationship is monitored through the Property Investment Committee and Quarterly Responsible Investment in Property meeting.
Our approach to responsible investment in property applies to all property assets under CCLA’s management and is reviewed on an annual basis by the Property Investment committee. This is chaired by the company CEO, and ensures that CCLA’s Responsible Property Investment policies and objectives are being met as well as fully disclosed in the annual report.
A full overview of our approach to Responsible Property Investment is included in our annual Responsible Investment Report. This is available at: https://www.ccla.co.uk/sites/default/files/CCLA_Stewardship%20Report_Aug%202018_Digital%20ready_singles_V5%20%281%29.pdf