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Gresham House plc

PRI reporting framework 2020

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Asset class implementation not reported in other modules

SG 16. ESG issues for internally managed assets not reported in framework

Describe how you address ESG issues for internally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Property

We have specific asset class sustainable investing policy documents to set out the manner in which the commitments we have made at group level to integrate ESG considerations throughout our business will be implemented within our Housing & Infrastructure investment strategy. A key theme within the strategy is "Affordable and Sustainable Housing".

Sustainable Investment framework

Our thematic framework is used to structure analysis, monitoring and reporting of ESG issues and opportunities within the lifecycle of strategic infrastructure and housing investments as an aid to more consistent integration. We use expert tools to profile our prospective investments to identify the most material themes within the broader framework and where we believe we should be directing our focus towards more sustainable outcomes.

Our senior management team, including the Board and the Management Committee, are committed to the implementation of this policy and to making appropriate resources and support available to our team to do so.  We will conduct a regular review of our approach and how well we are meeting our commitments and will update this policy accordingly.

Forestry

ESG in deal screening & DD

  • Properties reviewed for FSC certification.
  • Conservation needs reviewed in acquisition reports.

ESG sustainability management

  • The funds continue with a policy of certifying to Forest Stewardship Council (FSC) standards, all forests at the time harvesting commences.
  • Certification schemes provide a way of ensuring sustainable forest management and third party independent verification that a timber source meets the definition of sustainability.
  • These schemes include a mechanism for tracing products from the certified source forest to end use, providing evidence that it is both legal and sustainable.
  • All timber harvested, together with the restocking and management of the forests thereafter will continue to be in accordance with the UK Woodland Assurance Standard (UKWAS) to ensure FSC certification of the forests (UKWAS incorporates FSC principles). 

ESG KPI’s and Reporting

Environmental benefits: Planting trees for carbon sequestration is now globally recognized.

KPIs include:

  • Number of new trees planted pa
  • Number of trees restocked
  • % volume of felling production which is FSC accredited (or managed in line with FSC accreditation principles)
  • Volume of carbon sequestered pa

Annual Reports to investors include certification details

Other (1) [as defined in Organisational Overview module]

New Energy

The New Energy division is focused on four technologies: Wind, Solar, Battery Storage and Electric Transportation. The strategy supports the shift from a world powered by finite resources to a new energy world powered by renewables in what is a rapidly changing energy landscape.

Team expertise:

The team has significant expertise across the renewable energy investment cycle, spanning pre-construction requirements, construction phase, operation and wider marketplace impacts, including regulation, legislation and policy change

ESG in deal screening & DD

  • A thematic framework is used to structure analysis, monitoring and reporting of ESG issues and opportunities within the lifecycle of New Energy investments via bespoke ESG asset management tool
  • Environmental/planning reports are reviewed for acquisitions and ongoing obligations assessed

 

ESG KPI’s and Reporting

  • Community Benefits: Most windfarms provide substantial annual Community Benefit payments to local communities; currently not reported or monitored.

Tracked KPIs - 2019

  • New Energy division operates 195MW of wind farms and solar parks
  • Operates 174MW of battery storage assets
  • 414,000 MWh generated per annum, enough power for 111,000 UK homes
  • 186,000 tonnes of CO2 saved

Stakeholder management/communications

  • Investors are kept informed via Annual and Quarterly reports 
  • Community and Environmental Benefits to be reported moving forward

16.2. Additional information [Optional].

Please find URL links to Gresham's specific asset class policies below:

  • https://greshamhouse.com/wp-content/uploads/2020/03/Public-Equity-Sustainable-Investment-Policy.pdf
  • https://greshamhouse.com/wp-content/uploads/2020/03/Private-Equity-Sustainable-Investment-Policy.pdf
  • https://greshamhouse.com/wp-content/uploads/2020/03/Forestry-Sustainable-Investment-Policy.pdf
  • https://greshamhouse.com/wp-content/uploads/2020/03/New-Energy-Sustainable-Investment-Policy.pdf
  • https://greshamhouse.com/wp-content/uploads/2020/03/Housing-Infrastructure-Sustainable-Investment-Policy.pdf

 


SG 17. ESG issues for externally managed assets not reported in framework (Not Applicable)


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