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ISPT Super Property

PRI reporting framework 2020

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Selection, appointment and monitoring third-party property managers

PR 07. ESG issues in selection, appointment and monitoring of third-party property managers

07.1. Indicate if your organisation includes ESG issues in your selection, appointment and/or monitoring of third-party property managers.

07.2. Indicate how your organisation includes ESG issues in your selection, appointment and/or monitoring of third party property managers.

Types of actions

Coverage

Types of actions

Coverage

Types of actions

Coverage

07.3. Provide a brief description of your organisations selection, appointment and monitoring of third party property managers and how they contribute to the management of ESG issues for your property investments.

ISPT's Sustainability and Technical Services team regularly hold planning sessions and reviews to assist property managers in fulfilling their obligations in alignment with ISPT's ESG requirements.

Aside from requiring property managers to comply with any written procedures imposed by ISPT within our Property Management Agreements (PMAs), each agreement also includes general statements on ESG embedded within the legal terms and conditions set out within the directives for the property management companies (PMCs) we engage to manage our assets.

These general terms embedded within the aforementioned agreements require our property managers to comply with legislation including (but not limited to):

  • National Greenhouse and Energy Reporting (NGER) Act 2007 (Commonwealth)
  • Building Energy Efficiency Disclosure (BEED) Act 2010 (Commonwealth)
  • National health, safety and environment legislation, regulations and codes of conduct applicable to WHS and environment protection, dangerous goods, building safety and electrical safety; and
  • Workplace Gender Equality Act 2012

PMCs acting on our behalf are also required to uphold various international standards such as:

  • BS8903:2010 "Principles and framework for procuring sustainably";
  • ISO14000/ISO14001 Environmental Management Standards;
  • ISO9002 Quality Assurance; and
  • AS/NZS4801 Occupational Health and Safety

With regards to environmental protection, the PMC must acknowledge that ISPT, as a member of the Green Building Council of Australia in addition to being a signatory to the UNPRI and GRESB, is firmly committed to reducing the adverse impact the asset has on the environment - including actively reducing the level of greenhouse gas emissions produced by its use and occupation. The PMC is therefore required to take all reasonable steps to minimise any adverse impacts arising from the performance of their services and other obligations.

Furthermore, in alignment with ISPT's environmental objectives, PMCs are required to implement sustainability programmes to deliver ISPT's required outcomes, including ratings:

  • PMCs must operate all aspects of the property to the highest possible NABERS rating (Energy, Water, and Indoor Environment) in accordance with approved Business Plans and ISPT Guidelines. In doing so, they must keep auditable records
  • Draw up a sustainability plan for the asset to be incorporated within Asset Strategy Plans, as well as review its delivery;
  • Provide regular reports on environmental performance and provide data for compliance-related obligations (e.g. NGER reporting);
  • Perform annual audits and certifications
  • Action plans for achieving and maintaining maximum environmental operational efficiency.

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