Managing Director's Statement

The publication of this, PRUPIM’s second comprehensive report on non-financial performance, represents an opportunity to inform our stakeholders of our growing commitment to sustainability.

For PRUPIM, sustainability is about ensuring the long-term economic viability of our portfolio with consideration for three areas of performance - environmental, economic and social. In fact, while our previous efforts were collectively grouped under the banner of 'Corporate Responsibility', we have now changed our terminology to 'Sustainability', which reflects our priorities more effectively. Sustainability requires more of us than simply doing 'business as usual' in a responsible manner; it requires us to fundamentally review all our decisions. To PRUPIM, sustainability offers a range of opportunities - new markets, the development of new products, and innovative brand value.

We have taken this opportunity to refocus our strategy around our six critical impact areas: Property Management, Development and Investment ('what we do'); and Our People, Our Suppliers and Our Communities ('how we do it').

This report provides an overview of our progress against specific performance indicators and targets in each of these areas, as well as being transparent about the challenges we face. We are continuously improving our information and data gathering processes, which accounts for some of the erratic trends in our performance in Property Management. Similarly, we are soon to launch our Sustainable Development Strategy which should put in place systems for consistent monitoring across all future development projects.

We are proud of some of our major achievements during the year. These include the continued roll out of ISO 14001 and the green electricity contract across our managed portfolio, the launch of a new Responsible Property Investment fund (the Improver Portfolio), and continued investment and employee involvement in the community.
We are also conscious of the need to secure buy-in from key people throughout the business – hence the need for training and investment in our people. We must all take ownership of the sustainability challenge and meet it with vision and creativity. This is not always straightforward and we do not expect change to happen overnight.
We very much hope that you will be interested in this report, whichever stakeholder group you represent. As in previous years, we are keen to hear your views and would welcome feedback on any aspect of our sustainability strategy or communications. Please do get in touch if you have comments or suggestions.

Thank you for taking an interest in PRUPIM’s sustainability endeavours.

Martin Moore
Managing Director, PRUPIM