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/