AEW UK REIT | ESG

The Company is an externally managed real estate investment trust.  The management of the real estate portfolio has been delegated to AEW UK Investment Management LLP (‘AEW’).

AEW is one of the world’s largest real estate asset managers and offers a wide range of real estate investment products.

AEW believes that a sustainable and socially responsible approach to real estate investment management both protects and enhances the value of our clients’ assets, now and in the future.

AEW is fully aware of the impact of our activities on environmental and social issues both from our own business and our investment, asset management and development activities.  To this end we are committed to implementing a comprehensive European Socially Responsible Investment (SRI) policy. 

For further information on our SRI commitments, based on Environmental, Social & Governance criteria, please refer to the SRI link within the Corporate Responsibility area at www.aewuk.co.uk/

The Company has adopted the European Public Real Estate Association (‘EPRA’) Best Practice recommendations on Sustainability Reporting 2017.  The Company has a target to achieve an EPRA Gold award for sustainability reporting.

The Company has also chosen to early adopt the recommendations of the Task Force on Climate-Related Financial Disclosures (‘TCFD’)

See AEW UK REIT plc Annual Report 2020 (pages 55-57 and 112-126) for ESG disclosures at www.aewukreit.com/

The Board believes in open disclosure of ESG performance.

The Company has participated on the annual Global Real Estate Sustainability Benchmark (‘GRESB’) survey since 2016.  GRESB is the dominant global standard for assessing ESG performance for real estate funds and companies.  GRESB requires the Company to report against a wide array of ESG matters, and highlights areas for improvement and opportunities for growth.  The Company uses the annual outcome from GRESB as a benchmark to assess its own sustainability performance.  The Company has a target to improve GRESB results year on year.

The Company is an externally managed real estate investment trust and has no direct employees. The management of the portfolio has been delegated to the Investment Manager who provide the employees that support the Company.

The Investment Manager is an equal opportunities employer who respects and seeks to empower each individual and the diverse cultures, perspective, skills and experiences within its workforce. For further information on the Investment Manager’s principles in relation to people including diversity, gender pay, employee satisfaction surveys, wellbeing and retention, please refer to the ESG link within the Corporate Responsibility area at www.aewuk.co.uk/

The Company is not required to produce a statement on slavery and human trafficking pursuant to the Modern Slavery Act 2015 as it does not satisfy all the relevant triggers under that Act that required such a statement. The Company does, however, closely monitor the policies of its suppliers to ensure that proper provision is in place.

AEW UK Investment Management LLP, the Investment Manager to the Company, is part of the Natixis Group whose statement on Slavery and Human Trafficking has been published in accordance with the Modern Slavery Act 2015 (the ‘Act’). https://www.natixis.com/ natixis/en/modern-slavery-act-transparency-statement-in-2020-rqaz5_107684.html

The Company’s physical real estate assets have a direct impact on their local communities depending on their primary use and on the environment through their emissions and energy usage.

The Board recognises the:

– Impact of properties and their business plans on the local economy

– Impact of properties on the attractiveness and appeal of the local area

– Energy efficiency and greenhouse gas emissions

The Company engages with shareholders through:

– Publishing of Sustainability Disclosure Report and Greenhouse Gas Emissions Statement

– GRESB reporting

– Communication with local authorities via Investment Manager

The Company, in conjunction with its property manager, Mapp, participated in the KidsOut Charity ‘Giving Tree’ initiative. This initiative aims to provide children living in local refuge homes with a present to open on Christmas Day. To facilitate this, decorative tags with a child’s name, age and suggested gift are placed on Christmas Trees in the receptions of participating offices throughout the Company’s portfolio. Tenants of the offices can then use the details given on the tags to make a donation (£5-£10) to the KidsOut charity.