Environmental, Social & Governance
Responsible Property Investment
Our greatest positive impact on sustainability will come from the way our business relates to our funds’ assets. This falls into three key activities:
- Investment, where we consider the sustainability risks of buildings for purchase.
- Management, where we endeavour to improve the performance of existing buildings.
- Development, where the design and construction of new buildings and redevelopments meet our target to achieve a minimum BREEAM Sustainability rating of Very Good.
In all three cases, our focus areas will be energy efficiency, water management and waste reduction. We will also work with external parties and bodies to identify our sustainability responsibilities, ensuring we comply with our policy and legislation, and that we work to best practice guidance. We will make the resulting information available to the industry as a whole, to promote the wider sustainability agenda.
We also acknowledge that good housekeeping is fundamental to our approach. We will strive to continually improve the environmental performance of our own operations, with regards to energy use, water and waste management, and transportation.
Our Responsible Property Investment (RPI) Policy is endorsed by our Board. We actively communicate the policy to our employees and other interested parties, and review it each year.
Responsible Property Investment Committee
Our RPI Committee is appointed by the Lothbury Investment Management (LIM) Audit and Risk Committee from which it derives its authority and to which it reports to on a quarterly basis.
The members of the RPI committee are as follows:
- Barbara O’Riordan – Head of Investor Relations & Business Development (Chairman)
- Simon Radford – Chief Executive
- Perry Linch – Head of Asset Management
- Marco Latella – Head of Project Management
- Gary Smith – Asset Management
The committee meets quarterly or more frequently if required and is responsible for developing and implementing our RPI strategy. LIM board members and representatives from all our business divisions are invited to join meetings as appropriate.
Remit Includes:
Review and update the RPI policy each year.
- Set RPI objectives and organisational level targets.
- Agree indicators that we will use to monitor our performance against our priority impact areas and targets, alongside specific responsibilities and timescales.
- Approve individual fund level strategies, if appropriate.
- Meet at least quarterly to determine the priorities for action and review the RPI strategy in relation to evolving trends and issues.
- Consider and approve all related expenditures and resource implications.
- Monitor and report to the Board on progress towards the RPI policy, objectives and targets, and ensure we are taking action where necessary.
- Make RPI-related recommendations to the Property Management Team.
- Ensure that the RPI strategy, key responsibilities and achievements are effectively communicated internally to staff, and externally to advisors and agents, as well as to all other interested parties.
- Explore the links between RPI performance and the property funds’ financial performance.
January 2019
