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British Columbia Public Service Pension Board of Trustees

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.

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, description

          Flood/sea level rise risk is evaluated

Environmental example 2, description

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

Environmental example 3, description

          Proximity to public transit is evaluated

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, 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, description [OPTIONAL]

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

Governance example 1, description

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

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, 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).