By firmly embedding Environmental, Social and Governance (ESG) issues into our decision-making processes, we enhance and protect the value of the assets and investments we manage during ownership. Our Sustainability Policy outlines our approach.
We set ambitious and measurable targets for our business – on a corporate level, for each fund under management, and for individual assets. Our ESG Committee is held accountable for ensuring we meet these targets.
Following a materiality review in 2016 to determine the most relevant sustainability issues, we identified five material ESG areas to focus on in order to achieve our strategic aims.
By striving to reduce energy consumption and embed wider sustainability improvements, we enhance value and protect against future obsolescence
Our aim is for properties to provide a healthy, supportive and productive working environment that promotes wellbeing and efficiency
We engage with local stakeholders and communities to fully understand their needs and to benefit a wide range of local groups
We add value by creating opportunities that feed into and boost local economies
We make sure that all our operations comply with legal, financial and property-related frameworks and are adaptable to future legislation
We’re committed to ESG measures that have a meaningful impact on our business and the assets in our portfolio – while remaining mindful of the hold period for each asset we manage.
During 2018, we undertook an operational review at the Bower. Various energy-saving opportunities were identified, including adjusting temperature settings, light levels and altering motion sensor timers. Adopting these initiatives has helped reduce energy consumption here by 50%.
At our mixed-use development in Coventry, we provide the local community with benefits that reach beyond the building itself. These include family-themed days out, a Santa’s Grotto at Christmas and discounted events for local university students. Encouraging full use of the area in this way has made Belgrade Plaza a thriving community hub.
We conducted a team survey in 2018 to review the effectiveness of our office environment and to find out how the Clearbell team felt about working here. The results led us to undertake a light refurbishment that included installing brighter LED lighting and introducing additional plants to the office. Not only has this had a positive impact on the team but it has also helped bring down our electricity consumption.
GRESB has become the main indicator of a real estate fund’s sustainability performance. We’ve been submitting to the GRESB Real Estate Assessment for two years – in 2018, one of our funds achieved a Green Star. We intend to improve fund scores year-on-year, developing and rolling out ESG strategies across our portfolio.