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eQ Asset Management 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 are committed to constantly developing our sustainability. During the ownership period, activities are taken in both separate properties and the operating models and processes of the funds in order to promote sustainability (e.g. BREEAM In-Use certifications as well as the development of reporting regarding energy, water and waste and its use in the co-operation with tenants). Carrying out and developing responsible operations is part of the day-to-day work of every member of our real estate team.

In 2019, taking into account and developing sustainability had a major role both in property development and construction and in the management of existing properties and seeing to the needs of the tenants. The real estate funds of eQ Asset Management participated for the first time in the GRESB (Global Real Estate Sustainability Benchmark) assessment of sustainable properties. The results that we get through GRESB will help us identify and prioritise development areas related to sustainable operations and build a strong foundation for systematic development of sustainability in our real estate investments. In 2019, we also joined the TETS programme (energy efficiency agreement of the real estate sector), continued with the development of stakeholder engagements (e.g. tenant satisfaction surveys and the integration of ESG recommendations in new leases) and improved the documentation processes of information pertaining to the energy management of real estate targets.

In our choices we try to find as low-carbon alternatives as possible. The investment targets of both the Finnish Real Estate Fund and Care Fund have used renewable electricity based on wind power since the beginning of 2018. In addition, we always evaluate the possibilities of using geothermal and solar energy in our new real estate targets. Towards the end of 2019, a school centre that we built in Lauttasaari was completed (primary school for about 600 pupils and nursery for 300 children) and delivered to the city of Helsinki. This is the first own developer contracting of our real estate funds. The school centre is completely carbon neutral during its use. The heating and cooling energy used by the centre is produced with geothermal energy, and the object also uses solar panels. A comprehensive system monitoring the quality of the indoor air has also been installed in the school centre.

 


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 usage
        
          Water usage
        
          Waste management
        
          Energy consumption saving target has been achieved
        
          Guidelines for the selection of water "equipments/instruments" have been set
        
          Data collection process in place (data coverage of the both funds is over 20%)
        
Target/KPI
Progress Achieved
          Indoor air quality
        
          Regular tenant satisfaction survey
        
          Indoor air quality
        
          Indoor air quality assessment systems have been installed in several properties
        
          Regular survey started in 2019
        
          Launch of indoor air quality system operating model
        
Target/KPI
Progress Achieved
          Clarifying own current processes and guidelines regarding ESG
        
          Regular ESG reporting to our clients
        
          Internal follow up and development process for ESG issues
        
          Internal guidelines regarding real estate processes were completed.
        
          We published our first ESG report. We will publish ESG report regularly once a year. ESG report is available on eQ's web page
        
          We established internal ESG team who will be responsible for monitoring and documenting possible ESG deviations as well documenting and organising new ESG development matters.
        

09.3. Additional information. [Optional]

Satisfaction survey for all tenants was established in 2019 and is conducted biannually. 


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]

In 2019 we launched our sustainability guidelines in providing clear targets for all the development and renovation projects (small and large projects).


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]

Tenant satisfaction survey was conducted first time in 2019. Additionally, we piloted general information channel for tenants. 


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


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