Committed to acting responsibly
The Company believes that an environmentally and socially responsible approach to managing our business is fundamental for long-term risk-adjusted success, to the benefit of all our stakeholders.
Our approach to Corporate Responsibility
The Board recognises the importance of a clear and relevant framework for conducting business with environmental responsibility and operating with integrity and transparency, and engaging with its tenants, shareholders and other key stakeholders.
We are committed to understanding what is important to all of our key stakeholders, balancing these different interests and addressing our environmental and social impacts. This commitment is captured within our Company Values, business model and ‘Better Futures’ CR Plan.
A major reason for joining EPRA was to enable us to report more transparently. We have introduced EPRA’s SBPR (Sustainability Best Practice Recommendations) and have included our ESG measurements within that framework. In 2022, the Company’s EPRA SBPR Report received a Gold Award, in recognition of the Company’s commitment to best practice in its reporting. This was an improvement on the prior-year Silver award, our first EPRA SBPR Report. PSD additionally won the Best ESG Fund: Real Estate category of the Private Equity Wire ESG AAA European Awards 2022.
We regularly engage with our stakeholders to ensure we appreciate their differing viewpoints and take these into consideration when making business decisions. We strive to strike a meaningful balance between providing a return to our investors whilst addressing our social and environmental impacts.
The cost of living crisis triggered by global inflationary pressures that have built since the onset of the war in Ukraine has inevitably impacted many of our stakeholders’ lives. During this period of economic stress, the Company’s overriding priority continues to be the health and wellbeing of our tenants, work colleagues and wider stakeholders. Where required, we endeavour to support our tenants (both residential and commercial), on a case-by-case basis, agreeing with them the payment of monthly rents, deferring rental payments and agreeing workable repayment schedules.
Our Company Values mirror our CR Plan and underpin our commitment to acting responsibly. They set guidelines for our behaviours to make good commercial and ethical decisions. We share these with our key business partners who undertake many of the day-to-day business operations for PSD, to ensure that their own values and behaviours are consistent with ours.
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