Responsible Property Investment

  • Three funds awarded GRESB ‘Green Star’
  • Reduced carbon emissions by 9% at UK shopping centres and ISO14001 Offices
  • Sustainability training for all staff

Our Report

Signatory of UN Principles of Responsible Investment                                      

 

 

 

We've been reporting on the management of our environmental and social responsibilities for eight years now. During that time the political, economic, and social landscape has changed significantly, but the focus on how property investors manage these issues continues to grow.

We believe that a leading approach to Responsible Property Investment protects and enhances performance for our clients.  Our report provides an overview of some of the activities and initiatives we have successfully implemented over the past year. For the first time, we have included case studies and data from properties in the US and Europe, which reflects our commitment to extending our strategy to all properties under management. We continue to drive improvements in our UK operations and key highlights for the year are shown throughout the report.

The past year has been one of change for PRUPIM. In June 2011, we outsourced property management and accounts in the UK to CBRE, allowing us to focus on our core capability as a global real estate fund manager and on growing our range of institutional and retail clients. Now the outsourcing has taken place, we are working in partnership with CBRE to ensure that we continue to deliver the best service to our clients and occupiers.

We were pleased in 2011 to welcome a new Director of Sustainability, Nina Jackson, to PRUPIM. Since her arrival, she has been working with a wide range of people internally and externally to develop our new sustainability strategy. I believe that our new strategy provides a simple way to communicate our key priorities to stakeholders and demonstrate the value of our approach to clients and others. Implementing our strategy is not without challenges. Over the past year we, as with many in the industry, have provided data to clients for compliance with the CRC Energy Efficiency Scheme. While we have benefited from having effective energy management processes in place already, administering the scheme is resource intensive and we continue to lobby government for further simplification of the scheme. We must also continue to drive improvements in our data collection and, over the coming year, we will be looking to implement further automated metering and other processes to continue to refine this. 

This time, we have once again complied with the Global Reporting Initiative Guidelines to Level C and have also used the recently published Construction and Real Estate Sector Supplement to report performance.  We have also complied with the EPRA Best Practice Reporting Guidelines and the draft INREV guidance. Alongside the Responsible Property Investment Report, we have also published a ‘Supplementary Performance Report’, which provides more detailed commentary on data presented in this document and other supplementary information. Both documents can be downloaded below.

I hope you enjoy this report, and as always our sustainability team welcomes any feedback you may have.

Martin Moore
Managing Director, PRUPIM

 

Download our 2011 Responsible Property Investment Report

Download our 2010/11 Supplementary Performance Report

Responsible Property Investment

 
PRUPIM (Prudential Property Investment Managers Ltd)

Registered in England and Wales. Registered office Laurence Pountney Hill, London, EC4R 0HH. Registered number 3852763.
PRUPIM forms part of the M&G; Group of companies. PRUPIM is an indirect subsidiary of Prudential plc, a company incorporated and with its corporate head office in the United Kingdom. Prudential plc and its affiliated companies constitute one of the world's leading financial services groups and is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America.