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.