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DTZ Investors

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

投資ポリシー

SG 01. RI policy and coverage

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

01.1. 責任投資アプローチをカバーする投資ポリシーを策定しているかどうかを明示してください。

01.2. ポリシーの構成要素/種類と対象範囲を示してください。

当てはまるものをすべて選択してください。
ポリシーの構成要素/種類
AUMの対象範囲

01.3. 投資ポリシーが以下のどの項目をカバーしているか明示して下さい:

01.4. 組織の投資原則および全体の投資戦略、受託者義務(または同等のもの)の解釈、ならびに、ESGファクターおよび実体経済の影響をどのように考慮に入れているかについて説明してください。

Every fund has a clear set of investment objectives that each investment must be considered against, these objectives steer the investment strategy and are reviewed on a quarterly basis. The investment strategy includes ESG factors, ensuring that every investment is assessed for ESG risks and opportunities throughout the investment life-cycle:

  • Acquisition & disposal
  • Operations & maintenance
  • Fit-out, refurbishment & development

DTZ Investors believes that the inclusion of ESG factors as part of a property's strategy will make an increasing difference to the long-term obsolescence and investment performance of the portfolio, including the minimising of environmental impact and increasing social impact. The inclusion of ESG factors as part of the investment strategy of a portfolio and asset ensures DTZ Investors meets its fiduciary duty. 

Resource efficiency of the asset, procurement strategy and the Energy Performance of an asset are three areas of focus, as the improvement of one can have a real economy impact on the management of the property.  

01.5. 責任投資アプローチをカバーする組織の投資ポリシーの重要な構成要素、バリエーション、例外事項を簡潔に説明してください。[任意]

With climate change, increasing legislation and changing occupier demands we believe that a sustainable portfolio will have the effect of reducing environmental impact and risk of obsolescence, lowering operating costs, and enhancing tenant retention, therefore improving investment performance of our portfolios. Consequently, our strategy focuses on understanding the impact of these issues on future value and minimising the risk to our portfolios. Therefore, integrating ESG considerations into our investment process and timeline from pre-acquisition to disposal is critical to our approach to RPI, while operating within the context of our clients’ financial objectives.

Our strategy follows a proportional cost-benefit led approach; this does not mean that all initiatives must be self-financing or indeed that there must be a proven economic reward but means that we will consider the relationship between the financial cost of any investment or activity and our evaluation of ESG rewards. Importantly we will also consider our portfolios in the context of market best practice and ‘peer group’ properties to guard against depreciation risk and obsolescence (referred to as ‘future proofing of investments’).

Furthermore, we are committed to fostering the right culture and appropriate training to enable all employees and third parties to understand the objectives of our responsible investment policy as well as relevant legislation and best practices.

DTZ Investors has created the following ‘five core pillars of ESG’ to further embed ESG throughout our organisation, from our investment decisions to our employees and our impact on society. The below outlines our pillars and what they stand for, for DTZ Investors:

  1. Leadership & Governance: To work with the government, our industry and other collaborators on key ESG issues and promotion of Responsible Property Investment in the real-estate sector.
  2. Benchmarking & Disclosure: Inform our internal and external stakeholders of our performance and objectives; benchmarking against our peers an, identifying opportunities for improvement and action.
  3. Compliance: Stay at the forefront of regulation and compliance requirements to minimise organisational risks.
  4. Stakeholder Engagement: Inform, consult, involve, collaborate and empower stakeholders on ESG issues to enable effective decision-making and action.
  5. Asset Improvement: Prioritise ESG opportunities at an asset level, from acquisition through to disposal, embedding climate resilience in our decision making and investment timeline

To maintain coordination and leadership, we have established a committee of experts representative of our fund management, energy& sustainability and property management teams. This committee is responsible for the development of procedures and targets set out in our RPI policy, and for overseeing its implementation, reporting on results and future modifications. The RPI policy is applicable to all of our discretionary managed property portfolios and to our advisory mandates in so far as concerns the scope of our contractual services and ability to influence the management of portfolios. These policies are designed to be specific and measurable so that we may evaluate and report on their success and implementation in future years.

Throughout the investment cycle of the assets we manage and in our own operations, DTZ Investors aims 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

01.6. 補足情報 [任意]

          
        

SG 01 CC. Climate risk (Private)


SG 02. Publicly available RI policy or guidance documents

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

02.1. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

02.2. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

02.3. 補足情報 [任意]

DTZ Investors’ Responsible Property Investment (RPI) policy communicates the common rules and regulations that DTZ Investors abides by in its approach to the integration of Environmental, Social & Governance (ESG) in its investment strategy. This includes formalised guidelines on environmental, social and corporate governance factors, which is publicly available on our website - this includes how we report and climate-related issues that our property investments impact. 

https://www.dtzinvestors.com/en/about-us/responsible-investment/ the link is at the bottom this page for the RPI Policy. 

In addition, our Capabilities Statement sets out our investment management approach & philosophy and details our commitment to responsible investment; https://www.dtzinvestors.com/media/55575/cus100169-capabilities-statement-dtz-investors_v01.pdf

Included under this overarching policy is a suite of policies which cover in more detail, key environmental, social and governance issues across our organisational activities. The following policies are available on request and are updated annually.

  • Anti-Bribery & Corruption
  • Conflicts of Interest
  • Code of Business Conduct
  • Health & Safety
  • Terms of Business
  • Supplier Integrity
  • Diversity & Inclusion
  • Third Party Privacy and Confidentiality
  • Whistleblower Policy

SG 03. Conflicts of interest

03.1. 組織として、投資プロセスにおける潜在的な利益相反を管理するポリシーを策定しているかどうかについて明示して下さい。

03.2. 投資プロセスにおける潜在的な利益相反を管理するポリシーについて説明してください。

There are 3 main areas that lead to conflicts of interest: company to individual; client-to-client; deal allocation. 

  1. Effective identification and management of conflicts of interest are essential for DTZ Investors to maintain its reputation for professional integrity and managing commercial risks associated with acting as a professional advisor to clients.  
  2. Client-to-client - we ensure that the interests of our clients are best served by arranging ourselves so Fund Managers can exercise their fiduciary duty and act in the best interests of their clients. This is principally achieved by building client teams that are distinct and unique across our business, so no two clients are similarly served. 
  3. Deal Allocation - in rare occasions when more than one client is reviewing the same asset deal, we implement our internal Deal Allocation policy. This ensures that prospective purchasers from within our House are able to bid internally for the asset prior to the preferred bidder competing externally on the market. The nature of this policy ensures that deal allocation is neither arbitrary (i.e. first-come, first-served) nor detrimental to clients by having our fund managers bid against each other in the open market, potentially unnaturally inflating prices. 

03.3. 補足情報 [任意]

DTZ Investors is governed by our parent company Cushman & Wakefield's global policies. Cushman & Wakefield's Global Managing Conflicts of Interest Policy establishes a set of expectations and guidelines designed to ensure that C&W’s employees, brokerage professionals and independent contractors avoid activities or relationships that may impair, their ability to make objective and fair business decisions when performing business duties.

More details can be found here under Ethics and then code of business conduct: https://www.cushmanwakefield.com/-/media/cw/global/about-us/documents/global-code-of-business-conduct-2019.pdf

Further information can be found in Cushman & Wakefield's 2018 CSR report: website https://www.cushmanwakefield.com/en/united-kingdom/about-us/corporate-social-responsibility


SG 04. Identifying incidents occurring within portfolios (Private)


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