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.