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J.P. Morgan Asset Management

PRI reporting framework 2020

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Post-investment (monitoring and active ownership)

Overview

PR 08. ESG issues in post-investment activities

08.1. Indicate if your organisation, and/or property managers, considers ESG issues in post-investment activities relating to your property assets.

08.2. Indicate whether your organisation, and/or property managers, considers ESG issues in the following post-investment activities relating to your property assets.

          Annual third-party tenant satisfaction surveys
        

08.3. Describe how your organisation, and/or property managers, considers ESG issues in post-investment activities related to your property assets.

JPMAM REA actively manage and monitor the ESG performance of our assets on ongoing basis post-investment. Our program is clearly communicated in our Sustainability Reference Guide which is updated and distributed annually. Tenant surveys are conducted annually with a thorough review process as well as established Maintenance Management Systems to address health, safety and well-being. We have experienced on-site third-party property management teams to continually assess risk of natural hazards and contamination. Depending on product type, location, competitive submarket, client considerations, regulatory risk, building codes and tenancy, ESG factors are incorporated into the underwriting/valuation process and reported in the property’s annual budget. Additionally, once an asset has been acquired, JPMAM REA monitors key performance indicators at the property level for energy, emissions, water and waste/recycling. Properties are assessed based on year-to-year comparisons as well as to comparable buildings. Our ESG Program is evaluated annually and we seek to mitigate risks by a) improving energy & water efficiency, b) supporting the use of public transportation to and from our buildings, c) complying with new climate change related laws, d) working with suppliers to implement sustainable purchasing, e) and engaging with our tenants and communities.

Property teams are an integral part of the development and implementation of each asset’s ESG plan. Sustainability training is provided using JPMAM Sustainability Policies, as well as ENERGY STAR training resources. We have hired a third-party consultant, LORD Green Real Estate Strategies, to provide additional technical support and to provide third-party review of the property investments as it relates to their sustainability performance and reporting.


Property monitoring and management

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

09.1. Indicate the proportion of property assets for which your organisation, and/or property managers, set and monitored ESG targets (KPIs or similar) during the reporting year.

(in terms of number of property assets)

09.2. Indicate which ESG targets your organisation and/or property managers typically set and monitor

Target/KPI
Progress Achieved
          Energy consumption
        
          Greenhouse Gas Emissions
        
          Water consumption
        
          Targets set and publicly posted in 2017; continuing to monitor progress towards achievement
        
          Targets set and publicly posted in 2017; continuing to monitor progress towards achievement
        
          Targets set and publicly posted in 2017; continuing to monitor progress towards achievement
        
Target/KPI
Progress Achieved
          Tenant Satisfaction surveys for all assets
        
          Community engagement
        
          Tenant education and engagement
        
          87% of properties surveyed occupants
        
          100% monitored and 68% participating
        
          100% monitored and 100% participating
        
Target/KPI
Progress Achieved
          Compliance with energy reporting and disclosure laws
        
          Green Building Certifications
        
          Energy Ratings (ENERGY STAR Certification)
        
          100% compliance
        
          73% of the office portfolio, 47% of the multifamily portfolio, 36% of the retail portfolio, and 6% of the industrial portfolio has a green building
        
          61% of eligible office buildings and 6% of eligible multifamily properties are certified
        

09.3. Additional information. [Optional]


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


Property developments and major renovations

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

11.1. Indicate the proportion of active property developments and major renovations where ESG issues have been considered.

(by number of active property developments and refurbishments)

11.2. Indicate if the following ESG considerations are typically implemented and monitored in your property developments and major renovations.

11.3. Additional information. [Optional]


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]


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.


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