The incorporation of ESG within the selection of both listed property and infrastructure vehicles is conducted in the same way as any other listed equity investment. Both the management team and the underlying investments of any potential collective property or infrastructure investment trust are analysed both from a financial and ESG perspective. This analysis of management and business operations is conducted in the same way (and by the same team) as it would be for any other listed equity.
The monitoring process via meetings and ongoing analysis is also conducted in the same way as per other listed equities.
ESG risks are assessed according to our responsible investment policy and decisions are made according to the same criteria as laid out in paragraph 4. of Troy's investment policy (Environmental, Social and Governance risks within the Research Process).
ESG incorporation practices are now being incorporated into the fund selection and monitoring process for the funds-of-funds where listed equities are held indirectly as outlined above. This process will continue to evolve.