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J.P. Morgan Asset Management

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 assessment of ESG issues is ongoing and an integral part of all aspects of the investment management process. The in-house Development and Engineering Group (DEG) group is responsible for conducting environmental due diligence on acquisitions. During the acquisition due diligence process, the DEG group investigates and seeks  to uncover numerous risks through our standard practices including obtaining ALTA surveys (natural hazards risk), Environmental Site Assessment (natural hazards, contamination& regulatory risk), Property Condition Reports (energy & water efficiency, building safety & materials, regulatory), Seismic studies (where applicable) and Acquisition & Underwriting ESG Assessments from qualified third parties. In addition, internally we conduct a thorough Market and Economic Assessment (socio-economic risk). As part of the process tenant interviews and building walk-throughs are conducted to assess comfort, safety and satisfaction of building occupants (health, safety & well-being).

Concerning our third-party Acquisition & Underwriting ESG Assessments, we specifically address the following aspects:

Energy & Water efficiency,
 waste management,
 building certifications and energy ratings,
 regulatory compliance,
 the impact of pending regulation,
 location to transit and walkscores & bikescores,
 proximity to healthy amenities such as fitness centers and healthy foods,
 climate change adaption, resilience,
 energy prices in deregulated energy markets and
 renewable energy.

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

          Energy consumption & efficiency including energy ratings

Environmental example 2, description

          Water consumption & efficiency including plumbing assessments

Environmental example 3, description

          Environmental Site Assessments.

Social example 1, description [OPTIONAL]

          Location to transit and walk score

Social example 2, description [OPTIONAL]

          Tenant Interviews

Social example 3, description [OPTIONAL]

          Property Condition Assessments

Governance example 1, description

          Property Condition Assessments

Governance example 2, description

          Regulatory & building code compliance and compliance with energy reporting and disclosure laws

Governance example 3, description

          Potential conflicts of interest

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.