ESG policy, objectives & commitments

Blue Colibri Capital acknowledges the importance of sustainability across our operations and the requirement for strong governance to meet the long-term interests of our stakeholders and in particular our investors. This Environmental Social Governance (ESG) Policy has been created to demonstrate our continued commitment to ensuring that we operate in a responsible and sustainable manner and actively consider ESG across our business activities.

As a real estate investment manager, Blue Colibri Capital is aware that real estate is one of the largest contributors to worldwide energy consumption and CO2 emissions that drive climate change. It is our responsibility to reduce the carbon footprint of our asset portfolio and business operations. We are also very committed to our corporate social responsibility and it is of the utmost importance for Blue Colibri to contribute to society in a positive way.

Our corporate governance initiatives ensure that we work according to the highest standards of conduct in our approach towards our clients, our staff, our service providers and those who are affected by the properties we manage. Whilst embedding sustainability, the implementation of this policy will protect and consider the interests of our investors, shareholders and other interested parties. We will ensure ESG factors are actively considered in investment and operational decision making and we will utilise our position to positively influence our employees, tenants, stakeholders and supply chain.

Blue Colibri Capital will make sure we are meeting high standards when acquiring, refurbishing and managing our assets across Europe. Based on extensive analysis of data provided by legal and peer reviews as well as feedback from our people and main stakeholders, we have identified three principal areas where ESG can be embedded across our operations, our Governance & Disclosures, Delivering Sustainable Buildings and Achieving Social & Wellbeing. Working with our key stakeholders will ensure that we are minimising environmental impact whilst maximising social, community and wellbeing benefits.

Blue Colibri Capital constantly monitors the market context, legislative drivers, investor expectations and management team’s perspectives in order to identify the ESG issues that are most material to the firm. It enables BCC to tailor its ESG strategy to effectively manage its material risks and opportunities within a framework and a set of commitments that are aligned with a set of UN sustainable development goals that are deemed as the most relevant in our industry.

Our Objectives & Commitments:

Strategic Theme

Objectives & Commitments

Target Year

UNSDG

Our Governance & Disclosures

1. Establish an ESG Committee and formally outline governance structure

2021

-

2. Align to the UN Sustainable Development Goals (UNSDGs)

2021

-

3. Becoming a signatory to the UN Principles of Responsible Investment

2023*

-

4. Undertake a GRESB assessment to benchmark performance

2022

-

5. Establish robost due diligence on our supply chain to ensure our partners work proactively to deliver improved ESG across our buildings

2022

-

6. Develop an ESG communication plan (e.g. formal reporting or website disclosures)

2021 / 2022

-

Delivering Sustainable Buildings

7. Development of ESG pre-acquisition due diligence checklist

2021

11,12,13

8. Assess existing assets and new acquisitions for climate risk and resilience strategies

2021 / 2022

13

9. Calculate our environmental performance baseline across the portfolio (inc. energy, water, waste)

2021 / 2022

12

10. Review and strengthen existing green lease structures

2022 onwards

17

11. Procure 100% certified renewable electricity

2022

13

12. Develop an Occupier programme to increase dialogue and working towards common goals (inc. data provision and sharing)

2022

17

Achieving Social & Wellbeing

13. Integrate Wellbeing Principles into new development and refurbishments

2022 onwards

3

14. Assess existing assets and new acquisitions for climate risk and resilience strategies

2022

11

15. Development of a tenant and community engagement plan at all assets

2022

3

* First submission was planned for 2022. However UNPRI has announced that due to reorganisation of the reporting and scoring, no submission would take place in 2022.

1. Our Governance & Disclosures

We recognise that strong governance is the cornerstone of our continued success and also to developing a meaningful and transparent ESG strategy. We will:

  • Ensure that we continuously consult with our key stakeholders and partners to ensure our ESG Policy and our Objectives and Targets are appropriate, relevant and ambitious;

  • Have a robust governance structure to ensure all decision making and ESG principles are embedded and disclosed in a transparent manner;

  • Consider and become signatories of ESG benchmarks and frameworks that will actively contribute to improved performance and disclosure;

  • Be fully compliant with all legislations in the jurisdictions that we operate;

  • Ensure that our ethics and governance principles are shared by all third-party contractors and other stakeholders through a robust procurement process and we will ensure that our supply chain and partners share our ethics;

2. Delivering Sustainable Buildings

We are committed to minimising our impact on the environment and our risk associated with physical and regulatory climate and environmental risks. We will:

  • Enhance our ability to measure and report on our collective environmental impact including our energy and water consumption, waste generation, carbon emissions and other factors considered materially important across our operations;

  • Ensure that all investment decisions, acquisitions and operational assets consider ESG implications and actively plan to reduce environmental impact and risk through development of key performance indicators at fund and asset level;

  • Consider renewable and low carbon opportunities across our assets to identify opportunities for reducing carbon emissions and using green tariffs where possible and appropriate;

  • Actively work with our property managers and our tenants to implement ESG initiatives across our portfolio through collaboration, green lease arrangements and data sharing;

3. Achieving Social & Wellbeing

Blue Colibri Capital strives to ensure that we are positively contributing to social, community and human wellbeing across our operations and our managed assets. We will:

  • Implement measures and actions that will optimise the safety and wellbeing of our tenants, employees and building users;

  • Provide a positive environment, to encourage occupiers to adopt sustainable practices and provide the facilities to do so;

  • To generate wider societal and economic benefits by supporting local communities and charities.

We commit to communicate and disclose our ESG Policy and performance to all interested parties and will seek to continually strengthen our approach through continual improvement. This policy will be reviewed at least annually to ensure it remains relevant and appropriate.

We are proud of our exceptional investment approach, and we believe that our intense focus on the risk / return trade-off is responsible for the firm’s superior track record of performance across several market cycles to date. ESG is an important part of our risk management endeavours and we are convinced that our ESG principles are not in contradiction to investor’s return expectations, but on the contrary enhance the risk incurred to investors.

A dedicating ESG steering committee, including Board members and senior management key employees is responsible for the implementing of the ESG objectives. Wherever an individual needs to assume the responsibility, it is the chairman of the board or his delegate. By clearly assigning the responsibility, we ensure that the ESG objectives are properly managed.

Blue Colibri Capital commits to work towards becoming a signatory of the United Nations Principles of Responsible Investment (UNPRI) to actively align our investment processes with the internationally recognised standard. First submission was planned for 2022. However UNPRI has announced that due to reorganisation of the reporting and scoring, no submission would take place in 2022. This is therefore postponed to 2023 but Blue Colibri Capital has already started to implement initiatives to meet the current UNPRI key principles.

* UN Sustainable development goals selection