ESG

At Ediston, we recognise the significant impact real estate has on Environmental, Social and Governance (ESG) and Responsible Investment issues such as climate change, health and wellbeing and local economic development. By incorporating ESG considerations into investment decisions and across the Company’s operations, Ediston seeks to strengthen long-term value creation, make a positive impact to society and the environment, reduce risks and futureproof clients’ returns.

It is the Company’s belief that assessment of ESG factors plays a pivotal role in facilitating an understanding of investment risks and opportunities within real estate. Embedding ESG considerations into investment, development and asset management services mitigates sustainability risks and could improve our clients’ investment outcomes, whilst supporting the transition to a greener and more resilient economy. We are committed to working together with our clients, partners and supply chain to improve the integration of ESG factors into decision making throughout the investment process. That includes identifying material ESG issues and undertaking ESG due diligence for potential acquisitions, improving ESG credentials of new developments and major renovations, and assessing and managing sustainability performance across standing investments.

The Company is committed to protecting the environment and preventing pollution caused by our investment activities by ensuring these are managed and controlled using best practice systems. We will utilise all reasonable methods to conserve resources including energy and water, while ensuring waste and greenhouse gas emissions are managed in a responsible manner.

Ediston is a signatory to the Principles for Responsible Investment (PRI) and embraces adoption and implementation of the Principles within the real estate industry. The Company supports the Task Force for Climate-Related Financial Disclosures (TCFD) Recommendations and the United Nations Sustainable Development Goals (SDGs).

We outlined our approach to Responsible Investment within the three areas where the Company believes its actions will have the most significant impact:

Stewardship and Engagement

• Promote Responsible Investment through industry and cross-sector initiatives.
• Work with clients, partners, managing agents and supply chain to improve ESG credentials, standards and working practices.
• Ensure staff are fully trained on Responsible Investment and are incorporating the principles within their work.

Asset Improvement

• Ensure ESG considerations are embedded in asset management and development services and decision-making processes, with a particular focus on improving efficiency and reducing emissions, and supporting the delivery of clients’ wider ESG goals.
• To better understand the impact on the environment across our clients’ real estate portfolios by asset class; to support our clients in improving performance and mitigating climate-related risks.

Compliance

• Continue to monitor, assess and manage the Company’s ESG risks, and raise awareness of ESG risk management across our clients’ portfolios.

To drive continual improvement within the three focus areas, we set annual objectives across development, asset management and investment operations. To further integrate environmental and social considerations into our management processes, our objectives include specific actions, such as developing a Code of Conduct for Suppliers and incorporating ESG into Property Business Plans. We are also committed to working with our clients and supporting identification and assessment of the portfolio specific material ESG issues and, where appropriate, setting asset or portfolio level objectives for managing these issues.

The Company’s board holds the overall responsibility for this policy and its objectives. Responsibility for the implementation of this policy rests with the Ediston ESG committee, which meets at least quarterly and regularly reports to the Company’s board. The ESG committee is composed of members of the Ediston’s management team and other stakeholders, which may include our property managers, sustainability consultants and other partners, as required.

We are committed to continuous improvement and ensuring transparency of our ESG performance and outcomes through annual disclosure, including through the UN PRI transparency report and participation in the GRESB Real Estate benchmark.

This policy is applicable to all operational areas of Ediston and is reviewed annually.