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Schroders

PRI reporting framework 2019

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

投資後(モニタリングおよび積極的な保有)

概要

PR 08. ESG issues in post-investment activities

08.1. 組織の不動産資産に関連する投資後の活動において、組織やプロパティマネジメント会社がESG問題を考慮しているかどうかを記載してください。

08.2. 組織の不動産資産に関連する投資後の活動において、組織やプロパティマネジメント会社が以下のESG問題を考慮しているかどうかを記載してください。

08.3. 組織の不動産資産に関連する投資後の活動において、組織やプロパティマネジメント会社がESG問題をどのように考慮しているかを説明してください。

As per 7.3 above ESG issues are considered in property management and monitoring. The property managers are central to developing the environmental sustainability credentials of each building as they are responsible for the daily management and operation of the building. We review and discuss energy and water consumption, waste management practices and tenant activity together with the property manager and our sustainability consultant six monthly or annually depending on the asset. We aim to have sustainability objectives for all assets where we in our role as landlord have some control over the management of the asset. Sustainability information and data is held on our sustainability consultant's proprietary software system which is used by us and the property managers.

ESG issues are a feature of developments and refurbishments with many aspects being required as part of regulatory or industry schemes including for example planning/permit requirements, building regulations, Considerate Constructors Scheme together with the building certificate (i.e. BREEAM, Minergie) and energy performance certificate ambitions that we may set for a project. Our investment process guidance documents include a Sustainability Guide for Refurbishments and Developments.

Occupier engagements vary depending on the nature of the asset for example there may be regular tenant meetings with large office occupiers, tenant satisfaction surveys or annual newsletters for tenants at an industrial estate. ESG matters are discussed and highlighted as relevant to the management issues at the asset. For example discussions with occupiers to introduce a new food waste system at a retail and leisure scheme and to trial changes to the operational times of a building management system for a multi tenanted office.


不動産のモニタリングおよび管理

PR 09. Proportion of assets with ESG targets that were set and monitored

09.1. 報告年度において組織またはプロパティマネジメント会社が管理する不動産資産のうち、ESGの目標(KPIなど)を設定し、モニタリングした不動産資産の割合を示してください。

(不動産資産の件数ベース)

09.2. 組織やプロパティマネジメント会社では、主として、どのESG問題を対象にどのような目標(KPIなど)を設定のうえ進捗をモニタリングしているのか明示してください

目標/KPI
進捗状況
          Energy reduction target established for UK operational assets. Similar target to be established for European assets.
        
          Energy Performance Certificate (EPC) profile for all UK funds to be reviewed
        
          
        
          2018 saw the completion of a two year target for the UK. A new UK target and targets for European assets are being finalised.
        
          All UK asset EPCs reviewed and actions determined to manage compliance risk of UK minimum EPC rating legislation
        
          
        
目標/KPI
進捗状況
          Employees to undertake sustainability related training to maintain competence
        
          Develop baseline for key aspects of health, wellbeing and productivity performance at priority existing assets
        
          
        
          Training delivered internally to the majority of staff
        
          Health and safety survey completed for office assets to establish credentials
        
          
        
目標/KPI
進捗状況
          Ensure a consistent approach to property management by our third party property managers in line with our requirements
        
          Participate in Global Real Estate Sustainability Benchmark, the global standard for assessing ESG performance of for real estate funds and companies: green star aim
        
          
        
          Key performance indicators scored for UK property managers in 2018, target scores established with European property managers for scoring in 2018/19
        
          Eight funds participated in 2018, one as a first year Grace period participant, with seven achieving Green stars
        
          
        

09.3. 補足情報 [任意]

We set our Sustainable Investment Policy annually and it's approved by the Investment Committee. The Policy comprises our commitments and targets and applies to all assets (UK and European). Our overarching objective is to ensure our sustainability programme for the investment management of funds and assets addresses landlord responsibilities and aspires to consider overall building construction, refurbishment, management and operation through developing greater collaboration with tenants.

For 2018 there were a number of qualitative objectives in addition to the more quantitative targets referred to in section 9.2:

•          Ensure the application of a consistent approach to property management by our third party property managers in line with our requirements

•          Understand the sustainability opportunities and risks for standing investments and potential acquisitions

•          Deliver developments and refurbishments to sustainable standards in line with our requirements and achieve building certifications (i.e. EPC, BREEAM, Ska, LEED, HQE) where appropriate

•          Manage compliance with environmental legislation and regulation for all portfolios.

•          Ensure waste management plans are in place for all managed assets where appropriate


PR 10. Certification schemes, ratings and benchmarks

10.1. 不動産資産が認証スキーム、格付、ベンチマークと比較して評価されているかどうかを示して下さい。

10.2. 不動産資産を評価する認証スキーム、格付やベンチマークを挙げ、それらを適用する不動産資産の割合を示してください。

具体的に記入してください
          National Energy Performance Certification schemes
        
それらを適用する不動産資産の割合
(不動産資産の件数ベース)
具体的に記入してください
          Green building certifications (BREEAM, LEED)
        
それらを適用する不動産資産の割合
(不動産資産の件数ベース)
具体的に記入してください
          Global Real Estate Sustainability Benchmark
        
それらを適用する不動産資産の割合
(不動産資産の件数ベース)

10.3. 不動産投資のESGパフォーマンスに関連する情報を開示するため、不動産別報告基準を組織が使用しているか、示してください。

          INREV and EPRA sustainability standards
        

10.4. 補足情報 [任意]

The Schroder Real Estate portfolio comprises assets in the UK and Continental Europe, there are therefore a number of certification schemes which are relevant, and these may be country specific as required by EU or national legislation or in accordance with market practice.

Certification schemes may relate to an individual building for example an energy performance certificate rating or Building Research Establishment Environmental Assessment Methodology BREEAM (an environmental assessment method and rating system for buildings).

We are fund manager members of and participate for most funds in the Global Real Estate Sustainability Benchmark "GRESB" which is the global standard for assessing ESG performance of for real estate funds and companies.

We include sustainability reports within annual fund report and accounts which are aligned with INREV Sustainability Reporting Guidelines 2016 or EPRA Best Practices Recommendations on Sustainability Reporting 2017 as appropriate.

We are members of the Better Buildings Partnership and submit property data to their Real Estate Environmental Benchmarks (REEB).


不動産の開発および大規模改築

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

11.1. 実施中の不動産開発および大規模改築の中で、ESG問題が考慮されている割合を示してください。

(実施中の不動産の開発および大規模改築の件数ベース)

11.2. 組織の不動産の開発および大規模改築において、以下のESGが通常検討され、モニタリングされているかを明示してください。

11.3. 補足情報 [任意]

Our approach for ESG within active developments and major renovations is framed by what's needed for any building to optimise energy efficiency and cost, be attractive to potential tenants and maximise long term market value/build investment resilience. This may best be captured by a building certification ambition for example a BREEAM (UK Building Research Establishment Environmental Assessment Methodology used in the UK and Europe) or LEED (Leadership in Energy and Environmental Design certificated established by the US Green Building Council and used in Europe). There may also be an energy performance certificate rating ambition.

In all cases our developments and refurbishments will comply with relevant planning and building regulations/codes, environmental permits and contractor schemes. All of these include ESG considerations. Generally for all development and major renovation schemes we seek to achieve improved performance against the existing building and often against required standards. This helps to future proof our investments in relation to energy efficiency and regulation as well as potential changes to an asset's optimal use. In 2018 we introduced Sustainability Guidance on Developments and Refurbishments to support our investment team and third party service providers.

Monitoring of ESG considerations for active projects is often undertaken by third party project managers.


入居者とのエンゲージメント

PR 12. Proportion of property occupiers that were engaged with

12.1. 報告年度において組織やプロパティマネジメント会社がESG問題についてエンゲージメントを行った不動産入居者の割合を明示してください。

(入居者数ベース)

12.2. 以下の実務および分野の内、組織やプロパティマネジメント会社にとって入居者とのエンゲージメント活動の一部となっている主なものを明示してください。

12.3. 補足情報 [任意]

There are a large number of tenants within the direct portfolio and the opportunity or need for landlord engagement on ESG issues only exists for a small number of all tenants.

It is often more pertinent for managed assets, however the landlord may only have operational control for some but not all aspects of a building's operation.

Occupier engagements will vary depending on the nature of the asset for example there may be regular tenant meetings with large office occupiers compared to annual newsletters for tenants at an industrial estate. We seek to ensure ESG matters are regularly discussed and highlighted as relevant to the management issues at the asset. For example discussions with occupiers to introduce a new food waste system at a retail and leisure scheme and to trial changes to the operational times of a building management system for a multi-tenanted office.

We have provided our answer on the basis of % of assets (not occupiers) where we have obtained data from the tenants and/or raised sustainability during tenant meetings.


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

13.1. 報告年度におけるグリーンリースを使用した賃貸契約の割合、またはESG問題に言及した覚書(MoU)の割合を記載してください。

(賃貸契約またはMoUの件数ベース)

13.2. 補足情報 [任意]


コミュニティとのエンゲージメント

PR 14. Proportion of assets engaged with on community issues

14.1. 報告年度において、組織やプロパティマネジメント会社がESG問題についてコミュニティとエンゲージメントを行った不動産資産はどのくらいの割合であるかを明示してください。

(不動産資産の件数ベース)

14.2. 組織やプロパティマネジメント会社は以下の分野や活動において、通常はコミュニティとエンゲージメントを行っているかどうかを記載してください。

14.3. 補足情報 [任意]

Our approach is that consideration should be given to the relationship of an asset to the community in which it's located and which it supports to assess a building's contribution to the locality. This should contribute to an asset's longer term investment credentials.

However the opportunity for community engagement is dependent upon the type of asset and how it and its users relate to the local community. For example with a shopping centre there may be communications to help determine local attitudes to the centre, amenity, safety and security, access and open space as well as support opportunities for recruitment. In contrast for a fully let office building there may be more limited scope for community involvement and examples include sponsorship for a street festival and a youth centre.


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