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Bridges Fund Management

PRI reporting framework 2020

You are in Direct - Property » Post-investment (monitoring and active ownership)

Post-investment (monitoring and active ownership)

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.

          Spreading the lessons learned or outcomes achieved
        

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

We have developed specific guidance and frameworks to enable property managers to consider ESG issues in post-investment activities related to our property investments.


Property monitoring and management

PR 09. Proportion of assets with ESG targets that were set and monitored

09.1. Indicate the proportion of property assets for which your organisation, and/or property managers, set and monitored ESG targets (KPIs or similar) during the reporting year.

(in terms of number of property assets)

09.2. Indicate which ESG targets your organisation and/or property managers typically set and monitor

Target/KPI
Progress Achieved
          Energy savings
        
          % Waste diverted from landfill
        
          CO2 emissions savings
        
          Each Bridges' property investment has a bespoke impact scorecard / targets
        
          Each Bridges' property investment has a bespoke impact scorecard / targets
        
          Each Bridges' property investment has a bespoke impact scorecard / targets
        
Target/KPI
Progress Achieved
          Number of jobs created / supported
        
          Number of lower-costs and affordable housing delivered
        
          Number of high-quality accommodation for the elderly delivered
        
          Each Bridges' property investment has a bespoke impact scorecard / targets
        
          Each Bridges' property investment has a bespoke impact scorecard / targets
        
          Each Bridges' property investment has a bespoke impact scorecard / targets
        
Target/KPI
Progress Achieved
          Bribery and corruption
        
          Integrate ESG factors into our  investment process.
        
          Regulatory risk & compliance
        
          Each Bridges' property investment has a bespoke impact scorecard / targets
        
          Each Bridges' property investment has a bespoke impact scorecard / targets
        
          Each Bridges' property investment has a bespoke impact scorecard / targets
        

09.3. Additional information. [Optional]

Each of Bridges' investments has a bespoke impact scorecard, updated at least annually, containing material target outcomes and ESG KPIs based on our initial due diligence and in line with the impact thesis for the individual investment.


PR 10. Certification schemes, ratings and benchmarks

10.1. Indicate whether your property assets are assessed against certification schemes, ratings and/or benchmarks

10.2. List the certification schemes, ratings and/or benchmarks your property assets are assessed against and what proportion of your property assets they apply to.

Specify
          EPC
        
Proportion of property assets these apply to

(in terms of number of property assets)

Specify
          BREAAM
        
Proportion of property assets these apply to

(in terms of number of property assets)

Specify
          Well/Fitwel
        
Proportion of property assets these apply to

(in terms of number of property assets)

10.3. Indicate if your organisation uses property specific reporting standards to disclose information related to your property investments’ ESG performance.

          Piloted GRESB and INREV internally
        

10.4. Additional information.

We always look to maximise the environmental, health and comfort benefits of each property by constructing or refurbishing to recognised certification schemes and ratings; for example, EPC Grade B rating as a minimum on all new constructions, BREEAM Very Good as a minimum for new commercial developments. We are undertaken Well assessment and have certified Passivhaus / Code for Sustainable Homes Level 4 developments and few residential properties also received the AECB Building Performance Standard. Minimum requirements are specified in our Sustainable Property Policy https://www.bridgesfundmanagement.com/wp-content/uploads/2017/04/Bridges-Sustainable-Property-Policy-2017-1.pdf

 


Property developments and major renovations

PR 11. Proportion of developments and refurbishments where ESG issues were considered

11.1. Indicate the proportion of active property developments and major renovations where ESG issues have been considered.

(by number of active property developments and refurbishments)

11.2. Indicate if the following ESG considerations are typically implemented and monitored in your property developments and major renovations.

11.3. Additional information. [Optional]

We have developed specific frameworks for new property developments and major renovations, including a residents user guide to enable them to operate their properties more efficiently and in an environmentally friendly way


Occupier engagement

PR 12. Proportion of property occupiers that were engaged with

12.1. Indicate the proportion of property occupiers your organisation, and/or your property managers, engaged with on ESG issues during the reporting year.

(in terms of number of occupiers)

12.2. Indicate if the following practises and areas are typically part of your, and/or your property managers’, occupier engagements.

12.3. Additional information. [Optional]

We have developed specific frameworks for new property developments and major renovations, including residents / occupants easy user guides to enable them to operate their properties more efficiently and in an environmentally friendly way


PR 13. Proportion of green leases or MOUs referencing ESG issues

13.1. Indicate the proportion of all leases signed during the reporting year that used green leases or the proportion of Memoranda of Understandings (MoUs) with reference to ESG issues.

(in terms of number of leases or MoUs)

13.2. Additional information.

A guidance for tenants to reduce their environmental footprint was produced and during the reporting year we circulated to tenants a MOU referencing ESG uses. As landlords, we have set monetary targets to run energy consumption from common areas of buildings and also to reduce tenants' consumption via the incorporation of energy efficiency and renewable energy. c.28% of our leases/licenses incorporate clauses relating environmental data (utilities). On these leases, the landlord and tenant share utilities consumption information.


Community engagement

PR 14. Proportion of assets engaged with on community issues

14.1. Indicate what proportion of property assets your organisation, and/or your property managers, engaged with the community on ESG issues during the reporting year.

(in terms of number of property assets)

14.2. Indicate if the following areas and activities are typically part of your, and/or your property managers’, community engagement.

          Supply Chain Involvement - subcontractors and agencies will be required to recruit from the resident population, using local apprenticeships and participate in school engagement programmes.
        

14.3. Additional information.

For some investments we have also set up contractor’s performance targets with regards to expenditure  in the local community / Local Authority (as a percentage of total contract), percentage of local people and number of apprentices employed.


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