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Swiss Re Ltd

PRI reporting framework 2020

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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.

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

We typically hold our properties for a long time. This is why we apply a life-cycle approach in managing our properties. The approach is twofold: during normal operations (day-to-day activity), we rely on our outsourced property and facility management with focus on improving the performance of our properties (various KPIs) whereas property development and refurbishment activities are triggered internally by the portfolio/ asset managers in close cooperation with the construction managers.


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 consumption (heating and warm water) is monitored on a yearly basis where possible for investment properties.
        
          Type of energy (environmental impact, e.g. renewable energy)
        
          
        
          We measured for all Swiss and German properties the energy consumption for heating and warm water production (except where tenants run the heating system themselves).
        
          We have improved energy sources in certain properties by connecting them to lake water heating/cooling (replacing oil heating) and improved thermal insulation of a property.
        
          
        
Target/KPI
Progress Achieved
          For major refurbishment projects, accessibility for elderly and disabled people were improved where appropriate.
        
          Increase housing options for local residents by adding apartment units through conversion of office space and/or building new residential properties.
        
          Diversity of tenant mix, health and safety factors
        
          Converted office space to residential space and also added 118 newly built apartments in Germany which provides more housing options for residents.
        
          
        
          
        
Target/KPI
Progress Achieved
          International trade control screening (creditors as well as debtors) is performed on an ongoing basis.
        
          
        
          
        
          Regular screening for all tenants/vendors performed. No business relationships exist with tenants/vendors which are registered on any relevant watch list.
        
          Clear procedures in case of legal disputes.
        
          Detailed service level agreements with providers of outsourced services.
        

09.3. Additional information. [Optional]


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
          Minergie (Switzerland)
        
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.

10.4. Additional information.

New construction and refurbishment projects in Switzerland (representing approx. 70% of the direct property portfolio AUM) are subject to high sustainability standards and aim to fulfil Minergie standards whenever economically sensible.

.


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]

When it comes to refurbishments and new construction, the project definition document (internally produced by the construction managers/ portfolio managers reflecting the property strategy defined by the portfolio manager) sets the goals and standards (including ESG considerations) of the projects. Stringent selection of planners, engineers and contractors, as well as close supervision by our internal construction managers during the whole construction process until handover to property and facility managers ensure that the targets defined by the project definition document can be met.


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.

          Explanations are provided to tenants benefiting from a "smart home system" enabling more environmentally friendly and sustainable tenant behaviours.
        

12.3. Additional information. [Optional]

For new Minergie-certified constructions, comprehensive information is provided to tenants explaining the features of the building, ideas for energy efficient behaviour, etc. The certification tag is displayed at the entrance of the building.

Granular information about energy consumption is provided to occupiers. This enables occupiers to become conscious of their spending patterns and encourages them to reduce energy spending.

Unsustainable tenant behaviour discovered by our property manager/ asset manager during onsite visits (example: open windows in staircases during winter, etc.) is taken up with the tenants in a friendly manner.


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.


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.

          Provision of heating to neighbor buildings, maintenance of publicly accessible areas, public visits of a historic building, etc.
        

14.3. Additional information.

In some locations, we are a member of local community groups.


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