As local property owners, we understand that our responsibility to our communities extends beyond our employees and investments. We value our relationships with all our stakeholders including customers, communities, partners, employees and shareholders. Recognition of our success includes winning two prestigious industry CSR awards, a fantastic achievement and a testament to the importance our team places on CSR.
Chief Executive Officer and Chairman of the CSR Committee
Redefine International participated fully in GRESB for the first time in 2016, completing a full disclosure of actions relating to sustainability activities undertaken for the period April 2015 to March 2016. The Global Real Estate Sustainability Benchmark (“GRESB”) assessment is used to review the performance of real estate asset management against a wide range of corporate and social responsibility (“CSR”) issues and demonstrates Redefine International’s forward looking approach to CSR.
The Company was awarded a two star GRESB rating for the period, with the overall GRESB score improving by an impressive 65% compared to the trial period of 2015. This is a significant achievement and a testament to the business’s corporate social responsibility initiatives implemented in the past 12 months.
Going forward, the Company will remain committed to maintaining its participation in GRESB, which has become a key tool for benchmarking and assists in planning for continued sustainability performance improvement.
Key objectives and initiatives have been set for 2017 to deliver continued growth in sustainability, in line with the Company’s CSR strategic framework.
At Redefine International, CSR means understanding and actively managing the social and environmental risks and opportunities that can impact on income growth and net asset value, whilst also taking account of the Company’s responsibilities towards stakeholders, in particular investors and shareholders, employees, the businesses with which we work and the communities in which we operate.
The CSR Committee, which comprises three of the four Executive Directors and is attended by our CSR advisers, asset managers and the Company Secretary, was formed in 2014 to establish and implement a formal CSR strategy for the Company.
The strategy seeks to ensure that our governance and risk management framework, together with our investment and asset strategy, continue to be resilient to the ever‑changing economic, social and environmental landscape and sets out a series of actions in the form of a CSR roadmap targeting both short and medium term strategic objectives.
The CSR Committee implements the strategy using targets and carefully selected KPIs to measure progress, with various individuals within the business responsible for the day‑to‑day management of those targets. The CSR Committee meets regularly to review progress against the CSR roadmap, review environmental performance data and receive updates on UK and German CSR related legislation.
During 2016 the Company has made several achievements, the most notable being:
- a significant increase in score, up 65 per cent on prior year trial period results, from our participation in the Global Real Estate Sustainability Benchmark (‘GRESB’) survey;
- a four per cent absolute reduction in carbon emissions within the overall portfolio year‑on‑year, a significant achievement;
- a one per cent reduction in year‑on‑year electricity consumption at 18 of our UK based properties;
- systematic capture and reporting of environmental performance data for the UK and Germany; and
- appointment of a dedicated Group Health & Safety Manager.
To find out more about our approach to Corporate Social Responsibility:
Our CSR Policy
CSR Contact: Lisa Hibberd, Company Secretary - firstname.lastname@example.org