Property managers must deliver reports upon request. These requests vary by country and depending on building types. We actively monitor if this information is delivered.
In the selection process of Property Managers for AXA IM - Real Assets, ESG monitoring and reporting requirements are a strict requirement for engagement and is a contractual obligation. The Property Manager mandate has detailed requirements that list all of the expectations in terms of ESG integration from data collection and monitoring, ESG ratings, action plans, certifications, and collaboration with stakeholders.
As we monitor the ongoing management of assets, an ESG assessment is conducted on both the asset and property manager, to ensure that property managers are maintaining the highest level of efforts to enforce ESG measures. In addition, we consider third party rating agencies to assess select property managers. This confirms that our property management selection is working effectively with assets across geographies.