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British Columbia Public Service Pension Board of Trustees

PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (B) Implementation: Thematic [LEI 07] (C) Implementation: Integration of ESG factors [LEI 08 - 10] ESG incorporation in passively managed listed equities [LEI 11] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (C) Implementation: Integration [FI 10 - 12] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]
Direct – Private Equity
Overview [PE 01 - 02] Pre-investment (selection) [PE 05 - 08] Post-investment (monitoring) [PE 09 - 13] Outputs and outcomes [PE 14 - 15]
Direct - Property
Overview [PR 01] Pre-investment (selection) [PR 04 - 06] Selection, appointment and monitoring third-party property managers [PR 07] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Property developments and major renovations [PR 11] Occupier engagement [PR 12 - 13] Community engagement [PR 14] Outputs and outcomes [PR 15 - 16]
Direct - Infrastructure
Overview [INF 01 - 02] Pre-Investment (Selection) [INF 05 - 09] Post-investment (monitoring and active ownership) [INF 11 - 16] Overview [INF 11] Infrastructure Monitoring and Operations [INF 12 - 14] Infrastructure Maintenance [INF 15] Stakeholder engagement [INF 16] Outputs and outcomes [INF 17 - 18]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Direct - Property » Pre-investment (selection)

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.

QuadReal, on behalf of our investment agent, BCI, uses a due diligence checklist that incorporates ESG metrics to be evaluated for each new investment.

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, select one

Environmental example 1, description 

          Flood/sea level rise risk is evaluated

Environmental example 2, select one

Environmental example 2, description 

          Energy efficiency of new projects is assessed and/or designed to meet the LEED or BOMA BEST.

Environmental example 3, select one

Environmental example 3, description 

          Proximity to public transit is evaluated

Social example 1, select one

Social example 1, description [OPTIONAL] 

          QuadReal has an Occupational Health and Safety Policy that outlines specific integration of safety consideration into all actions and practices. Quadreal also focuses on developing and investing in real estate that creates places that promote well being and productivity.

Social example 2, select one

Social example 2, description [OPTIONAL] 

          QuadReal supports development practices that engage and empower local communities and manage buildings in ways that support the local economy and biodiversity.

Social example 3, select one

Social example 3, description [OPTIONAL] 

          QuadReal engages and evaluates tenant and occupant goals to create a welcoming community for occupants.

Governance example 1, select one

Governance example 1, description 

          QuadReal actively partners with leading vendors to adopt sustainable behavior and practices.

Governance example 2, select one

Governance example 2, description 

          QuadReal sets out the principles and expectations for all partners in the Responsible Contractor Code of Conduct and Ethics which establishes all expectations and requirements for anti-bribery and corruption expectations.

Governance example 3, select one

Governance example 3, description 

          All regulations and jurisdictional requirements are reviewed and met or exceeded for new projects and existing investments.

04.4. Additional information. [Optional]

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

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.

QuadReal conducts an extensive due diligence process which includes environmental assessment. Phase 1 reports are conducted for all potential new investments with a more detailed Phase 2 for sites with identified liabilities. They also assess properties based on walkscore, transit score, current green building certifications and building condition assessments (which includes age of mechanical & HVAC systems).
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