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The international business of Federated Hermes (formerly Hermes Investment Management)

PRI reporting framework 2020

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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.

          Biodiversity
        

11.3. Additional information. [Optional]

Federated Hermes' responsible property development and refurbishment guide was updated in February 2019 to take into account progress in the industry, including BREEAM specifications and a more extensive approach to refurbishments. The guide includes minimum requirements and the establishment of action plans for all our directly-managed refurbishment and development projects of a certain size. For smaller projects, ESG criteria that are relevant to the scope of the project are integrated.

For our indirect and international non-directly managed assets, we share our guide and engage with the direct investment and asset manager to ensure that ESG issues are integrated into the refurbishment and development projects.

The Guide is available at: https://www.hermes-investment.com/uki/capabilities/real-estate/responsible-property-investment/


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