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PRI reporting framework 2019

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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.

12.3. Additional information. [Optional]

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. Indicate the proportion of all leases signed during the reporting year that used green leases or the proportion of Memoranda of Understandings (MoUs) with reference to ESG issues.

(in terms of number of leases or MoUs)

13.2. Additional information.