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Alvarium Social Housing Advisors Ltd

PRI reporting framework 2020

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Overview

PR 08. ESG issues in post-investment activities

08.1. Indicate if your organisation, and/or property managers, considers ESG issues in post-investment activities relating to your property assets.

08.2. Indicate whether your organisation, and/or property managers, considers ESG issues in the following post-investment activities relating to your property assets.

08.3. Describe how your organisation, and/or property managers, considers ESG issues in post-investment activities related to your property assets.

As investment manager to HLIF, we identify the cost of any required improvements to assets, either to protect the future quality of the relevant asset or as a result of statutory interventions and ensure that these are properly reflected in individual asset plans.  We monitor the emerging impact of sustainability-related issues on property values and will amend performance projections and offers for future transactions in the light of hard evidence as it emerges. 
 
We recognise that greenhouse gases are a major contributor to climate change and controlling CO2 emissions from properties under management is therefore an essential part of HLIF's environmental strategy.  Where data is available, we endeavour to calculate emissions from each property in HLIF's ownership and, where data is unavailable, make reasonable estimates as the basis for setting targets for future reductions.  We will also endeavour to calculate the “Carbon Intensity” (tonnes of CO2 per £m invested) of HLIF's portfolio and, over time, seek to reduce the total volume of CO2 emitted by these properties. This may be achieved through encouraging HLIF's tenants to adopt more sustainable property management and/or through the physical improvement of selected assets. 
 
Due to the leasing structure of the fund, HLIF does not have direct control over the way that energy is used by its tenants as responsibility for buildings has been devolved to the tenants. However, HLIF engages with its tenants to encourage the more efficient use of energy, the use of water-saving measures and the recycling of waste.  HLIF encourages the sustainable management of areas under its tenants' direct control and, where appropriate, prepares high level “sustainable design guides” for tenants’ reference in preparing plans for fit outs and periodic refurbishments.

HLIF identifies tenants whose businesses are most influenced by sustainability-related issues and who have the most advanced Environmental Policies and explore ways in which tenants’ aspirations to reduce carbon emissions can be supported and encouraged.

 
We recognise that some properties may be at risk of flooding and that, in some locations, the risk of flooding may worsen over time as a result of climate change-related issues. We identify which assets are at risk from flooding and forecast the extent to which values may be compromised. We can then ensure that HLIF's exposure is consistent with its overall approach to risk.  

We recognise that the largest impact we can make on the environment is through influencing the behaviour of others, for example staff, agents, contractors, suppliers and tenants.  We ensure that all of our employees are aware of HLIF's ESG policy, objectives and targets and that relevant individuals have the knowledge and skills necessary to implement the strategy in their day-to-day roles. 

 


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