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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.

Our property review process includes undertaking a review of our direct property assets and their performance.  

Our direct asset monitoring process includes ESG related issues. Through our initial due diligence process where ESG risks are raised these are documented in a risk register.

The FSS Investment Risk and Compliance team, in conjunction with the FSS Investment Team maintains a register of the material risks including ESG specific risks, associated with the individual direct assets as well as the controls put in place to mitigate each of the material risks. This risk register is reported to a sub-committee of the board, the Direct Asset Committee ("DAC") on a 6-monthly basis.

We report regularly to governance bodies on asset performance (including ESG emerging and actual risks) regularly (e.g. DAC and Special Purpose Vehicle (SPV) Boards and our internal Portfolio Management Investment Committee). SPV Board agendas have standing ESG agenda items.


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

09.3. Additional information. [Optional]

During the due diligence phase we will identify ESG improvements that may be appropriate for each direct asset.  These are documented and monitored in terms of implementation.  For example, in our retirement villages we had a KPI to introduce solar panels on all residences to reduce the energy costs to residents.  We have a target to invest in up to $500m in affordable housing that benefit our key workers.  


PR 10. Certification schemes, ratings and benchmarks

10.1. Indicate whether your property assets are assessed against certification schemes, ratings and/or benchmarks

10.2. List the certification schemes, ratings and/or benchmarks your property assets are assessed against and what proportion of your property assets they apply to.

Specify
          NABERS
        
Proportion of property assets these apply to

(in terms of number of property assets)

Specify
          Green Star rating
        
Proportion of property assets these apply to

(in terms of number of property assets)

10.3. Indicate if your organisation uses property specific reporting standards to disclose information related to your property investments’ ESG performance.

10.4. Additional information.


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]


Community engagement

PR 14. Proportion of assets engaged with on community issues

14.1. Indicate what proportion of property assets your organisation, and/or your property managers, engaged with the community on ESG issues during the reporting year.

(in terms of number of property assets)

14.2. Indicate if the following areas and activities are typically part of your, and/or your property managers’, community engagement.

14.3. Additional information.


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