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CapMan Plc

PRI reporting framework 2020

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Pre-investment (selection)

PR 04. Incorporating ESG issues when selecting investments

04.1. Indicate if your organisation typically incorporates ESG issues when selecting property investments.

04.2. Provide a description of your organisation`s approach to incorporating ESG issues in property investment selection.

A part of normal investment decision making process relates to evaluation of ESG characteristics of each individual property. At early stage potential property investments are initially evaluated through our ESG Screening Checklist focusing on identifying potential ESG risks and mitigations. During a potential Due Diligence the properties go through a thorough analysis where ESG risks are evaluated in detail by the internal investment team as well as by external sector experts. For example such ESG Due Diligence, carried out by external sector experts, primarily aims to investigate and propose on how we could reduce the energy (including water and waste) consumption and carbon footprint in the property as well as provide real and detailed investment proposals on how we could improve the ESG situation and mitigate ESG risks. 

04.3. Indicate which E, S and/or G issues are typically considered by your organisation in the property investment selection process, and list up to three examples per issue.

Environmental example 1, description

          
        

Environmental example 2, description

          
        

Environmental example 3, description

          
        

Social example 1, description [OPTIONAL]

          
        

Social example 2, description [OPTIONAL]

          
        

Social example 3, description [OPTIONAL]

          
        

Governance example 1, description

          
        

Governance example 2, description

          
        

Governance example 3, description

          
        

04.4. Additional information. [Optional]

In property acquisition due diligence phases we have external sector experts carrying out the following services:

  • Legal DD to identify any legal ESG risks and other general risk associated to the property and acquisition,
  • Technical DD to identify the standard and quality of the property and its technical installations as well as reviewing the existence of any environmental issues in the property.
  • Financial DD to review any risks related to the business and management carried out in the property
  • ESG DD to thoroughly investigate the energy situation and energy/ESG performance in the property as well as identifying real investment proposals on how to reduce the energy consumption and improve the overall ESG performance in the property. The ESG DD also includes an initial review and analysis to prepare for future environmental certifications of the property. 

PR 05. Types of ESG information considered in investment selection

05.1. Indicate what type of ESG information your organisation typically considers during your property investment selection process.

05.2. Provide a brief description of how this ESG information was incorporated into your investment selection process.

Evaluated case by case. At least energy efficiency and existence/potential for environmental certificates (such as LEED and BREEAM) typically a part of DD and investment case.


PR 06. ESG issues impact in selection process

06.1. Indicate if ESG issues impacted your property investment selection process during the reporting year.

06.2. Indicate how ESG issues impacted your property investment deal structuring processes during the reporting year.

06.3. Additional information.

Typically the analysis of ESG issues relating to energy consumption has an impact on pricing. The review of ESG issues, primarily relating to energy consumption and future energy investments and energy consumption forecasts, forms a vital part of the business plan and directly impacts on pricing as well as forecasted cashflows. 


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