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Alvarium Social Housing Advisors Ltd

PRI reporting framework 2020

You are in Direct - Property » Pre-investment (selection)

投資前(投資対象の選定)

PR 04. Incorporating ESG issues when selecting investments

04.1. 組織が不動産投資先を選択する際、通常ESG問題を組み入れているかどうかを記載してください。

04.2. ESG問題を不動産投資の選択に組み入れる際のアプローチを説明してください。

HLIF is a social impact fund dedicated to fighting homelessness in the United Kingdom through its investment in high quality assets to accommodate the homeless, aiming to combat the severe shortage in suitable accommodation for the homeless.

Each property acquired by HLIF is let to a charity, mutual benefit society, community interest company, other entity which is regulated for its charitable status, or a registered housing association or specialist provider of social housing and receive funding from central and local government. As investment manager to HLIF, we insure that HLIF invests carefully and selectively and only transacts where an asset has strong local authority support and is of appropriate quality in order to protect the underlying occupants, the security of the income and the residual value of the property. An additional feature in property selection is ensuring that the property will be operated by a specialist charity and/or care provider. Such operators are encouraged to have a strong focus on providing training and rehabilitation to occupants in order to equip them with the necessary skills and confidence to find future long-term accommodation and employment.

The sustainable characteristics of properties are evaluated as part of HLIF's pre-acquisition due diligence, with any risks to future financial performance being identified and opportunities to create additional value or improve environmental performance being explored. We also endeavour to assess the impact of new property acquisitions on HLIF's overall environmental performance. We will not ordinarily consider the acquisition of buildings that fall short of HLIF's minimum standards unless we are able to demonstrate that affordable improvements to promote energy efficiency and other environmental considerations can be made. Where making a forward commitment to acquire new developments, we aim to use HLIF's influence to encourage the developer and its contractors to consider sustainability-related issues in the design, construction and commissioning of buildings. As investment manager to HLIF, we expect the environmental performance of new developments to exceed the minimum standards required by building regulations and planning policy.

 

 

04.3. 貴社の不動産投資選定プロセスにおいて、どのESG問題が主に考慮されているかを記載し、問題毎に事例を3つまで挙げてください。 

説明 [任意]

          HLIF will not consider acquiring buildings with an Energy Performance Certificate rating of less than D without having an affordable plan in place to improve the rating during the period of property ownership. HLIF expects all new and refurbished buildings to have an Energy Performance Certificate rating of C or higher and for the design of the building to include enhanced insulation, advanced energy efficiency and a suitable range of water-saving features.
        

説明 [任意]

          We recognise that, after the consumption of energy, the most significant source of CO2 emissions is from transport and that assets which are less accessible may prove less attractive to occupiers and decline in value. We examine the accessibility of all assets under HLIF's ownership and limit the extent of HLIF’s potential exposure to less accessible properties. We base our analysis on three factors: the property's distance from public transport, congestion in the surrounding area to the property and adequate provision of car parking.
        

説明 [任意]

          HLIF commissions a flood risk assessment on all properties at the pre-acquisition stage and limits have been set for the amount of capital that may be invested in properties at significant risk of flooding.
        

説明 [任意]

          HLIF is dedicated to fighting homelessness in the UK through its investment in high quality homeless shelters, aiming to combat the severe shortage in suitable accommodation for the homeless.  As investment manager to HLIF, we focus on acquiring good quality accommodation that will offer a safe environment to vulnerable people whose housing needs often result from private landlord eviction, mental health problems, drug and alcohol abuse, domestic violence, family breakdown and other complex and distressing causes such as leaving institutions such as prison.  The properties are operated by specialist charities and/or care providers who focus on providing training and rehabilitation to equip residents with the necessary skills and confidence to find future long-term accommodation and employment.
        

説明 [任意]

          HLIF is dedicated to fighting homelessness in the UK through its investment in high quality homeless shelters, aiming to combat the severe shortage in suitable accommodation for the homeless.  As investment manager to HLIF, we focus on acquiring good quality accommodation that will offer a safe environment to vulnerable people whose housing needs often result from private landlord eviction, mental health problems, drug and alcohol abuse, domestic violence, family breakdown and other complex and distressing causes such as leaving institutions such as prison.  The properties are operated by specialist charities and/or care providers who focus on providing training and rehabilitation to equip residents with the necessary skills and confidence to find future long-term accommodation and employment.
        

説明 [任意]

          HLIF is dedicated to fighting homelessness in the UK through its investment in high quality homeless shelters, aiming to combat the severe shortage in suitable accommodation for the homeless.  As investment manager to HLIF, we focus on acquiring good quality accommodation that will offer a safe environment to vulnerable people whose housing needs often result from private landlord eviction, mental health problems, drug and alcohol abuse, domestic violence, family breakdown and other complex and distressing causes such as leaving instutions such as prison.  The properties are operated by specialist charities and/or care providers who focus on providing training and rehabilitation to equip residents with the necessary skills and confidence to find future long-term accommodation and employment. We engage with our specialist housing tenants and receive regular updates on how the provision of safe, stable, modern and clean accommodation has a significant impact on improving the occupants' quality of life.
        

説明 [任意]

          HLIF's corporate operations are overseen by an Executive Board and its property investment selection process is overseen by an Investment Committee. These committees work together to ensure proper execution of the fund's investment strategies, consistent application of its policies, compliance with its procedures and with local and regional regulatory requirements.
        

説明 [任意]

          
        

説明 [任意]

          
        

04.4. 補足情報 [任意]


PR 05. Types of ESG information considered in investment selection (Private)


PR 06. ESG issues impact in selection process

06.1. 報告年度において、ESG問題が不動産投資の選択プロセスに影響を及ぼしたかどうかを明示してください。

06.2. 報告年度に、ESG問題が不動産投資の取引構造化プロセスに影響したかどうかを記載してください。

06.3. 補足情報 [任意]

HLIF ensures that purchase agreements contain any necessary conditionality to ensure that minimum standards are met (eg, planning requirements, EPC rating) prior to acquiring the relevant property. Environmental risk factors, such as flooding, are always analysed as part of HLIF's investment criteria and the proposal acquisition of assets has been halted where the risk of significant flooding has been deemed too high. Where significant works have been required to improve a property's energy efficiency, HLIF has negotiated the price payable for the asset in order to cover the additional cost of carrying out the upgrade.


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