We strive to use natural resources as efficiently as possible while we carefully manage our direct operational footprint, and aim to provide our tenants with energy and water security. We believe in creating financial and social value in a sustainable way that ensures a low-carbon inclusive world.
We are committed to
Advocating climate action within our business and alongside our tenants. Engaging with the communities in which we operate, and reducing our carbon footprint.
Collecting appropriate data that enables us to set defined, actionable and always science-based goals and targets, and seeking to measure performance against these going forward.
Incorporating data-driven considerations regarding climate change and environmental sustainability in our decision-making process, to help guide us.
Allocating capital in a way that is not environmentally destructive or carbon intensive. Where possible, investing in the rollout of return-generating renewable energy.
Our Environmental Policy and Climate Change Statement considers the challenges to the global economy. We recognise the complexity and urgency of climate change and are committed to the transition to a cleaner, low-carbon world.View statement
Our carbon footprint
In South Africa the Fund submits an annual carbon footprint to the Carbon Disclosure Project (‘CDP’) and has achieved a B-rating. 65% of the South African Office portfolio have Green star ratings and 100% of the EU portfolio has valid EPCs (82% of the portfolio is rated B or above). More information can be found in our 2023 Integrated Annual Report.
We are committed to rolling out solar power across our entire portfolio. Since 2016, the Fund has invested R113 million in renewable energy initiatives. The Fund’s solar plants have saved approximately 58 082 tCO2e amounting to R87 million in financial savings.
We have created 15 MWp of solar capacity in South Africa. In Europe, PV installations are currently operational on four properties within the portfolio. We are assessing the cost of further rollout in phases. More information can be found in our 2023 Integrated Annual Report.
We recognise that sound corporate governance is essential in creating value as well as protecting against value erosion.
Together, the Board and its committees are responsible for assessing and managing risk and ensuring that appropriate risk management policies and procedures are in place. Operating in terms of a formal Board Charter, the Board’s primary objective is to secure the Fund’s long-term sustainability, growth and profitability.
Key corporate governance practices
At least one-third of non executive directors offer themselves for re-election at each Annual General meeting
We have a unitary board with a balance of independent and non-independent directors
Strong lead independent director
Directors are entitled to seek independent professional advice
Annual review of Board leadership structure
Annual Board and committee evaluations
Succession planning in place
Risk management through an Enterprise Risk Management Framework
Risk appetite set and monitored
Related-party transactions monitored and transparently disclosed
Combined assurance approach
MOI includes provisions on the protection of shareholder rights and the equitable treatment of shareholders
Proactive stakeholder engagement
Shareholder right to call special meetings
Please see our 2023 Integrated Annual Report for more information on our governance practices.View report
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