Implementation at the fund and asset level

Our material impacts are felt mostly at the asset level. As such objectives, processes and procedures are aimed at our 3 main activities in the areas of investment, development or refurbishment and asset management. In order to achieve our 3 main strategic RPI aims we have set the following objectives:

Investment

A key aspect of our business is in the stock selection and portfolio assembly. Taking account of sustainability risks and formulating a plan to de-risk assets from the outset are important to us. Our aim is to be consistent in our approach to integrating ESG considerations into our acquisition process and decision making. Clearbell has a commitment to:

1) Put in place appropriate principles, policies and procedures to minimise risks throughout the investment process.

2) Identify material sustainability risks to consider during the pre-acquisition due diligence process.

3) Create a plan to de-risk and identify opportunities to add value.

4) Develop Key Performance Indicators (KPIs) to track capital value gains from managing environmental and social impacts.

5) Promote at the point of sale the positive environmental and social aspects of asset performance.


Development

Stakeholder engagement, consideration of minimum standards,

1) Ensure material environmental risks are well managed when we undertake development and refurbishment projects and incorporate health and wellbeing measures when appropriate.

2) Where appropriate engage with the local community where we develop to ensure place making principles are delivered to meet local demand and enhance public realm.

3) Use the EPC rating as a metric to monitor and report improvement during the asset hold period.

4) Consider setting minimum EPC or voluntary building certification targets for development of assets and refurbishment projects.

5) Minimise the risks of pollution or contamination arising from development and refurbishment activities.

Asset Management

We seek to improve the performance of the asset during our hold period, through active assert management, following best practice and delivering innovation to provide continual operational performance improvement. We will achieve this by:

1) Monitoring energy consumption and generation from renewable sources (where applicable).

2) Set targets to reduce utility consumption at the most material assets.

3) Reduce water consumption and identify opportunities to install water efficiency measures.

4) Encourage the development of green travel plans and where possible, install cycle storage (retrofit).

5) Put in place a formal tenant engagement strategy to receive feedback on the sustainability performance and user satisfaction of all buildings pre and post interventions.

6) Encourage Managing Agents to incorporate the core sustainability provisions of the BBP Managing Agents Partnership into property management agreements.

7) We will explore the integration of health and wellbeing measures into property management and engagement with occupiers where appropriate.

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