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DTZ Investors

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.

          Regulatory ESG risks are assessed at the point of sale to ensure financial and reputational risks are mitigated.
        

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

Once a property is acquired, our ESG consultant (C&W's Strategic Energy and Sustainability team) is commissioned to undertake an analysis of the ESG data identifying any limitations, path of progress in increasing data available and, where data is available, setting the baselines for evaluating performance against the various Responsible Investment policy targets over time.

Portfolio and asset Managers are involved in quarterly dedicated RPI meetings ensuring regular update of progress on ESG performance. Asset managers are responsible for environmental and social performance at individual properties. 

Property managers (and third-party suppliers) must understand and adopt our RPI policy, putting in place the necessary governance procedures to ensure asset performance is monitored, benchmarked, improved and maintained

Throughout the investment cycle of the assets we manage and in our own operations, DTZ Investors with our property managers  aim to drive environmental and social impact in following areas: 

  • Climate Change risk (i.e. Flood risk management)
  • Carbon Emissions (Green House Gas Emissions Scope 1 – 3)
  • Energy Usage & Intensity
  • Water Usage & Intensity
  • Waste Production and Disposal
  • Stakeholder Health & Wellbeing
  • Air quality management (Externally and Internally)
  • Sustainable Procurement (e.g. M&E, cleaning, landscaping)
  • Renewable Energy
  • Responsible and ethical material sourcing
  • Biodiversity & Habitat
  • Transport (Including EV Charging infrastructure)
  • Stakeholder Engagement (i.e. Employees, Occupiers, Local Communities)
  • Occupier Satisfaction
  • Health & Safety procedure
  • Fair Labour practices
  • Inclusion and diversity

In addition, our material assets in terms of ESG performance and risk are covered by a working sustainability action plan to support identify risk and opportunities at assets to improve ESG performance. Input from site teams and property managers on the ground help identify the most appropriate sustainability improvement initiatives that could be implemented at each building.


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
          Reduce landlord-controlled carbon emission intensity (by floor area) of the directly managed portfolio by 40% by 2030 from a 2016 baseline
        
          Reduce electricity & gas usage of the directly managed standing portfolio* portfolio by 10% by 2021 from a 2016 baseline
        
          Achieve 100% diversion from landfill through primary disposal route by 2021 across the directly managed portfolio where there is a landlord waste contract in place
        
          In 2019, 48% reduction from the 2016 baseline was observed.
        
          In 2019, an 8.5% reduction from the 2016 baseline was observed.
        
          In 2019, 98% of waste was diverted from landfill across the directly managed portfolio where there is a landlord waste contract in place
        
Target/KPI
Progress Achieved
          Conduct occupier surveys on at least 75% of the portfolio of the direct managed portfolio.
        
          Roll-out programme of occupier and community engagement activities to raise awareness of ESG issues and encourage sharing of best practice
        
          Implement a programme to incorporate Well being initiatives into design and operations.
        
          Over 75% of the directly management portfolio - where the landlord's property management teams has influence,
        
          Promotion and sharing of best practice where community engagement activities are already established
        
          In 2019 DTZi's obtained its first Wellbeing certification at an Office asset.
        
Target/KPI
Progress Achieved
          Monthly ESG Committee Meetings to track implementation of the RPI strategy, with dedicated quarterly meetings between fund management teams and property managers
        
          No breach in compliance for environmental regulations
        
          Inclusion of Greens leases at the initial stage of all lease negotiations.
        
          Continued to hold monthly and quarterly meetings dedicated to ESG across all our discretionary funds
        
          No breaches in compliance in 2019
        
          Inclusion maintained throughout 2019.
        

09.3. Additional information. [Optional]


PR 10. Certification schemes, ratings and benchmarks (Private)


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]

DTZ Investors aims that each refurbishment or building project should consider sustainability at all levels, to both ensure future proofing of assets and encourage the build of low impact assets. Sustainability practices are incorporated from initial briefing and requests for proposal through to the selection of design and building contractor partners and final completion. This policy for refurbishment or building projects includes minimum targets in relation to:

  • Materials
  • Waste
  • Water
  • Energy
  • Supply chain
  • Community

This also includes an advisory to seek certification in Well-being and Environmental performance. 


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]

Our occupiers play a fundamental role in the environmental performance of our assets. Therefore, we acknowledge the importance of effective engagement on ESG issues. To do this we are committed to developing long-term business relationships with the occupiers of our assets. We annually undertake an Occupier Satisfaction Survey, to collect feedback from our occupiers, which enables us to measure satisfaction levels and to identify areas for improvement. Through this we can better understand their environmental, social and governance needs, which will enable us to enhance the service we offer them and result in a greater satisfaction of our occupiers. We are committed to the provision of guidance to our tenants on ESG in the form occupier engagement meetings and in distribution of our occupier fit-out guidelines, whilst continuing to work on improving data sharing. Through this engagement we are also able to better collaborate on ESG initiatives, which enables us to operate more effectively within our local communities and have a greater impact.

In addition we collaborate with occupiers on sustainability issues by introducing green clauses in leases. Green leases clauses continue to be present in our standard lease document and negotiated with all tenants during lease negotiations, working closely with our solicitor team. 


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


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