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Alberta Investment Management Corporation

PRI reporting framework 2020

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Pre-investment (selection)

PR 04. Incorporating ESG issues when selecting investments

04.1. Indicate if your organisation typically incorporates ESG issues when selecting property investments.

04.2. Provide a description of your organisation`s approach to incorporating ESG issues in property investment selection.

In accordance with the Real Estate Sustainability Guidelines, various ESG factors are considered depending on the investment characteristics. The process is comprised of three factors: 

1. We look for partners that are like-minded in how they build and operate assets.

2. Environmental, Social and Governance considerations are taken into account when acquiring and developing new assets.

3. Green building certifications are sought for the construction of new properties and the operations of existing assets where possible.

04.3. Indicate which E, S and/or G issues are typically considered by your organisation in the property investment selection process, and list up to three examples per issue.

Environmental example 1, description

          Environmental site assessments are conducted if sites are suspected to contain contamination.

Environmental example 2, description

          Green building certifications (BOMA Best, LEED) for existing and future office and retail buildings are sought after if not already in place in order to ensure their sustainability and low environmental impact.

Environmental example 3, description

          Water consumption is an important factor considered when deciding to invest capital in existing projects.

Social example 1, description [OPTIONAL]

          Building condition and assessment of existing hazardous materials are conduct during the investment selection process.

Social example 2, description [OPTIONAL]

          Site assessments requiring special attention are conducted to determine if safety conditions are an issue regarding PCBs, Asbestos, lead or other toxic heavy metals.

Social example 3, description [OPTIONAL]

          Affordable housing is considered during the development phase of a potential investment.

Governance example 1, description

          Potential Conflicts of Interest are evaluated through a due diligence report.

Governance example 2, description

          Governance of an investment is thoroughly investigated prior to investment to ensure that the investment is effectively managed and measures can be taken by the investor in an adverse situation.

Governance example 3, description

          Sufficient investor reporting is explored prior to investment to ensure that the manager is performing up to standards and that the investor has a transparent view into the investment's performance.

04.4. Additional information. [Optional]

PR 05. Types of ESG information considered in investment selection (Private)

PR 06. ESG issues impact in selection process

06.1. Indicate if ESG issues impacted your property investment selection process during the reporting year.

06.2. Indicate how ESG issues impacted your property investment deal structuring processes during the reporting year.

06.3. Additional information.