PRUPIM is a top 20 global real estate investment manager, managing over US$37 billion of assets in around 1,000 properties. As a major investor and manager of property assets, we recognise the significant positive and negative impact that our activities may have on the environment, as well as the communities and economies where we operate.

This Policy outlines our strategic commitment to sustainability throughout both what we do (i.e. Property Management; Development; Investment) and how we do it (Our People; Our Communities; and Our Suppliers).

As a minimum we will comply with all laws and regulations related to each of these areas of activity, but we also seek to go beyond compliance wherever practicable. Indeed, we are committed to finding new ways of doing business and applying good practice. We believe that this approach is necessary in order to minimise the business risks and maximise the market opportunities that we face, including:

• Legislative compliance and a tightening planning framework.
• Cost-cutting through eco-efficiency measures – including utilities efficiency; resource management; 
  and waste  management.
• Market advantages through increased competitiveness and increasing brand value.
• Future-proofing our investments to perform strongly under changing market conditions.

We continually seek to improve our performance against those sustainability issues that we consider to be most significant to our business. We will do this by monitoring our performance against meaningful indicators and setting targets to improve year on year. We are also committed to the principles of transparency so we will report on progress annually.

We aim to reflect the views of our stakeholders in terms of the focus of our efforts, and we will try to find new ways of engaging in a dialogue with our key stakeholders regarding our approach to sustainability, most especially our tenants with whom we must work in partnership to maximise effectiveness.

Ultimately, all our employees are responsible for ensuring the delivery of this Policy, and its implementation is governed through the Sustainability Operations Committee. This Committee is chaired by PRUPIM’s Sustainability Director and includes representation from Board members and other senior staff.

Martin Moore
Managing Director of PRUPIM
July 2007