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PRI reporting framework 2020

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Pre-investment (selection)

PR 04. Incorporating ESG issues when selecting investments

04.1. Indicate if your organisation typically incorporates ESG issues when selecting property investments.

04.2. Provide a description of your organisation`s approach to incorporating ESG issues in property investment selection.

Our multi-tier internal ESG risk assessment framework -- which we refer to as the AC Way -- incorporates a discrete diligence checklist of 23 core factors that we evaluate with every potential investment that reaches a late stage in our diligence process. While these 23 factors do not represent the kind of sustainability leadership and regenerative management innovative that we expect of our operating teams after an investment is made, they were selected as key indicators of a potential investment's readiness for being managing to our environmental and social impact expectations.

04.3. Indicate which E, S and/or G issues are typically considered by your organisation in the property investment selection process, and list up to three examples per issue.

Environmental example 1, description

          Ongoing evaluation of renewable energy potential across portfolio has resulted in three active solar projects in development

Environmental example 2, description

          Permit compliance related to agrochemical inputs and hazardous materials, water usage, wastewater treatment and discharge, burning if applicable, land clearing, and other applicable environmental regulations.

Environmental example 3, description

          Disposal of industrial wastes, construction debris or rubble, excavation materials, debris from land clearing, and domestic wastes in accordance with national or local regulations.

Social example 1, description [OPTIONAL]

          Policies and procedures related to worker health and safety

Social example 2, description [OPTIONAL]

          Appropriate corrective action has been taken for all incidents involving any hazardous material that could have negatively impacted workers or the environment (e.g., agrochemical spills) consistent with the Producer’s emergency procedures.

Social example 3, description [OPTIONAL]


04.4. Additional information. [Optional]

PR 05. Types of ESG information considered in investment selection (Private)

PR 06. ESG issues impact in selection process

06.1. Indicate if ESG issues impacted your property investment selection process during the reporting year.

06.2. Indicate how ESG issues impacted your property investment deal structuring processes during the reporting year.

06.3. Additional information.

Every investment we make at AC is subjected to a review of the asset to contribute favorably to our ESG program goals. In investments we pursued or made during the reporting year, we not only scrutinized the opportunity using our AC Way due diligence framework, but we also specifically evaluated several opportunities for value creation through sustainability investment, including potential projects with risk implications (i.e., water and energy/climate).