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

PRI reporting framework 2020

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Community engagement

PR 14. Proportion of assets engaged with on community issues

14.1. Indicate what proportion of property assets your organisation, and/or your property managers, engaged with the community on ESG issues during the reporting year.

(in terms of number of property assets)

14.2. Indicate if the following areas and activities are typically part of your, and/or your property managers’, community engagement.

          Retail skills development; job and skills development support in our refurbishment and development projects
        

14.3. Additional information.

We manage our community engagement programme through our property managers and have established a stakeholder engagement tool, which provides support to our property managers, sets minimum requirements and additional community engagement activities. We monitor our community engagement programme once a year and reward best performance at our Responsible Property Investment annual awards.

Following growing awareness in the investment industry, we believe responsible investors need to go beyond standard key performance indicators (KPI) and develop qualitative processes to assess the wider socioeconomic impacts of their investment programmes, occupiers' and tenants' engagements. Since 2006 we have been reporting on our environmental performance using KPIs that we measure and monitor on a continuous basis.

At Federated Hermes, while not labelling our real estate activities as impact investment, we have been exploring how to apply the UNEP FI positive impact principles and can argue that we follow the three key principles with regards to our climate and energy efficiency investment practices. As part of our active responsible property investment programme, Responsible Property Investment in Practice, we have been assessing what positive impact investment would mean for each step of our investment process.

We have also reported on the socioeconomic impacts through a narrative approach based on case studies for the last few years. We are working on expanding our reporting boundaries to provide more specific qualitative and quantitative details on the positive social, economic and environmental impacts of some of our investments, whether large urban regeneration or through community engagement in existing buildings.

Our annual report is available at:

https://www.hermes-investment.com/uki/capabilities/real-estate/responsible-property-investment/


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