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PRI reporting framework 2020

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Selection, appointment and monitoring third-party property managers

PR 07. ESG issues in selection, appointment and monitoring of third-party property managers

07.1. Indicate if your organisation includes ESG issues in your selection, appointment and/or monitoring of third-party property managers.

07.2. Indicate how your organisation includes ESG issues in your selection, appointment and/or monitoring of third party property managers.

Types of actions

Coverage

Types of actions

Coverage

Types of actions

Coverage

07.3. Provide a brief description of your organisations selection, appointment and monitoring of third party property managers and how they contribute to the management of ESG issues for your property investments.

We engage external consultants to run a tender process on our behalf for the selection and appointment of our property managers.  ESG components are comprehensively integrated into this process.

A comprehensive section on sustainability requirements is included within the Property Management Services Agreements for both our commercial and retail property managers. We also develop annual KPIs that cover key sustainability metrics in line with the LGS Sustainability Policy for Direct Property.

Once appointed we meet with our property managers on a monthly basis to discuss performance and sustainability issues across the portfolio. Issues are tabled at a monthly performance meeting and noted in the minutes and brought forward on the agenda for the next meeting. Issues remain tabled until solved. Sustainability elements that are managed by our property managers include:

  • Water conservation
  • Energy management
  • Waste/landfill reduction and recycling
  • Indoor air quality
  • Operational efficiencies
  • Work, health & safety and liability management
  • Environmental risk management

Our property managers are formally monitored through an annual KPI review as well as a comprehensive annual contract review as provided under the Service Level Agreement.


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