A global conscience
And an ethos of sustainability in all we do.
Our vision is to be a dynamic and agile fully integrated international real estate business, with a strong heritage, that has the unique ability to identify potential and unlock value.
Our commitment to embedding ESG policies and principles in our everyday operations is critical to our long-term performance and we want to lead in delivering sustainable value for our stakeholders. At the core of our commitment lies the fundamental value of doing the right thing.
We are the first South African REIT to issue a sustainability-linked bond reflecting our commitment to ESG principles.
Our ESG strategy, goals and performance for the year ended March 2023 can be found in our 2023 Integrated Annual Report. Extracts taken from this report can be found here.View report
Our sustainability strategy
We aim to create stakeholder value that:
Our commitment is to:
Create broader stakeholder value – financial and non-financial
Embed ESG considerations into our investment process
Manage and mitigate ESG risks including climate risks
Achieve net-zero emissions by 2050, or earlier
Contribute to sustainability opportunities aligned to the UN SDGs
Our sustainability strategy focuses on our direct and indirect impact
We seek to align our sustainability strategy with the UN Sustainable Development Goals.
Our strategy is to use our direct impact to:
Manage our carbon footprint and decarbonise the portfolio
Eliminate greenhouse gas emissions in line with Paris agreement
Increase the use of renewable energy
Reduce and manage water usage
Reduce and manage waste across the portfolio
Protect biodiversity and incorporate nature-related considerations
Invest in / support the development of our communities
Invest in meaningful learning opportunities for our employees
Our strategy is to use our influence to:
Provide healthy, safe and efficient green buildings
Partner with clients/tenants and our supply chain to implement ESG strategies
Provide reliable data to enable clients/property managers to promote efficiency
Engage with communities to assist with energy, water and waste initiatives
Our primary SDGs
Our primary SDGs (shown below) are those most relevant to our business and include the unique contexts of the regions in which we invest. The greatest impact we can have is through the development of our people and the communities in which we operate; partnerships with clients; and environmental and climate actions.
More on ESG
We are cognisant of the increasing need to quantify our impact and have enhanced our focus on disclosure and delivering greater levels of meaningful ESG data, this process will continue to be improved over time. Further detail on the components of our sustainability strategy can be found here.
Our sustainability-linked bond demonstrates the Fund’s commitment to ESG principles and our efforts to promote good corporate citizenship.
In April 2021, IPF (now Burstone) became the first South African REIT to issue a sustainability-linked bond. This was a milestone event for the sector. The three-year issuance raised R800 million of unsecured bonds in a widely subscribed offer at a competitive coupon rate (3m JIBAR + 190bps), providing an opportunity to reduce the percentage of encumbered assets on the balance sheet.View KPMG Limited Assurance Report
The bond aims to embed the Fund’s sustainability value proposition into its mainstream financing activities.
The Fund intends to use the green bond as a mechanism to support its sustainability plan and bring alignment of the Fund’s financing to its sustainability strategy and help contribute towards its priority SDGs. To view our green bond documents see below.IPF Limited - Applicable Pricing supplementIPF Limited – Green Bond Information MemorandumIPF Green bond SPO
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