Company search
ESG Policy
Overview
The Company is an investment company and is externally managed by the Investment Manager and Investment Advisor.
Both the Investment Manager and Investment Adviser are part of the Starwood Capital Group (SCG), which is an authorised signatory to the UN Principles for Responsible Investments (UNPRI). In assessing new loans SCG evaluates environmental risks associated with any investments as part of the underwriting process. A formal scope of work is followed which requires an environmental site assessment (where relevant) to be performed which identifies environmental conditions that may have a material adverse impact on the property being assessed or its immediate surrounding area and an assessment of a property’s sustainability and marketability through the review of its environmentally friendly characteristics.
The Board recognises that it has no direct control over a borrower’s company policy towards environment and social responsibility and whilst taken into account when carrying out due diligence, does not make investment decisions based solely on environment and social grounds. The entities with which the Company does business are mainstream businesses with similar standards and policies to those of the group and the Company would not knowingly enter into a relationship with any party that did not adhere to good practice in carrying out its business. A number of the loans which the Group makes involve refurbishment projects and these will often improve the environmental impact of the real estate concerned. Additionally, whilst it is not an investment criteria, the Group’s loan portfolio is significantly funded in sectors with positive social impact such as hospitality, education, healthcare and residential apartments.
The Group has no Greenhouse Gas Emissions to report from its operations for the current or prior year, nor does it have responsibility for any other emissions producing sources (including those within the underlying investment portfolio).
The Company’s service providers are Guernsey office-based companies, and the majority of the directors are based in Guernsey, thus having a relatively low impact on the environment and negating the need for long commutes or flights to and from Board meetings.
In carrying out its activities and in its relationship with the community, the Group aims to conduct itself responsibly, ethically and fairly; including in relation to social and human rights issues and this is a matter of importance to the Board of the Company, which adheres to the same principles in carrying out their responsibilities as directors of the Company
SCG, with in excess of 4,000 employees worldwide, takes its social responsibilities to its employees very seriously offering a challenging, fast-paced and collegial environment to its employees. SCG strives to create diverse and inclusive workplaces where all employees can perform to their full potential and to be a good corporate citizen for their communities by supporting charitable organisations that promote education and social wellbeing
The Board’s risk management framework is intended to facilitate an enterprise wide view of risk that supports a strong and collaborative risk management culture within the Board and with its relationship with SCG. The Board (through its relationships with SCG, its brokers and other advisors and through the use of research firms) is focused on maintaining a productive dialogue with shareholders and gathering feedback to inform the decision making at Board level taking account of all shareholder concerns, including those relating to ESG issues and the interests of wider stakeholders.
