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PRI reporting framework 2020

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



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。

          [described below in 08.03]

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。

For us, post-investment refers to operating frameworks, which we have discussed previously as follows: Our selection of third-party managers is fundamentally focused on the appropriate mix of executional capabilities and values alignment. We expect that any third party manager would be held to identical standards of our wholly owned management entities, both in terms of ongoing impact performance as well as reporting. In fact, even at the earliest stages of our inception, we partnered closely with third party managers to develop the expectation and habituation of ESG measurement and reporting that has led to our engagement of wholly owned managers and the process of developing and refining projects that have a combined mission- and returns-driven focus. This partnership has led to an active back-and-forth with third party managers on innovation implementation that is consistent with our ESG-focused AC Way framework.

In partnership with all managers, we review ESG/impact report and activities on a quarterly and annual basis to continually improve communication and performance on impact. As a result, we are regularly receiving new points of data and project ideas directly from property managers. We've even designed property improvements which taken into consideration ESG issues. We play an active investment manager role in driving and enabling ESG-related projects of all of our managers, and this engagement has become increasing fluid and productive over time.


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。


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

          Zero waste food processing facility (Oregon) [by definition, 92% waste recycled or recovered]
          Reduction of polystyrene use in secondary packaging [50% plastics reduction goal in business unit over prior year]
          86% waste recycled or recovered
          54% reduction over 2018

09.3. 補足情報 [任意]

Although we have indicated in PR 09.2 that we do not set and/or monitor against targets in all categories, that is somewhat a function of the questionnaire not supporting the way we think about this.  We are driving toward continual improvement in ESG (and specifically E and S) related factors year over year. We are seeking directionally appropriate trajectory in driving toward key efficiencies across the business. We also have set a KPI expectation of all managers to improve by at least one tier each year on our five-tier sustainability performance framework, which incorporates a wide range of factors across a comprehensive set of material categories.

PR 10. Certification schemes, ratings and benchmarks (Private)


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。


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]

Each time we have contemplated a facility or farm block redevelopment since the inception of our funds, we have done it with the goal of improving both of the efficiency and resilience -- and thus the ESG performance -- of the asset. These projects have included building material and paint choices in a fruit packing facility we redeveloped in one location; energy efficiency and energy management upgrades in a facility in another location; high-efficiency irrigation systems across our entire business; design of an operations facility for zero waste-focused material handling; upgrades of employee wellbeing facilities at key operations sites; and ongoing evaluation of new renewable energy projects.