Our ESG strategy have been developed in line with Industrials’ overarching vision to provide space that matters to our customers, employees and their communities.
The strategy strives to take a proactive stance on managing future climate risk and opportunities to ensure that Industrials is able to achieve its vision, while supporting the transition to a lower carbon and sustainable future through market leadership and engagement
01
Direction
Industrials is committed to putting in place stretching targets across all three areas of ESG. These targets will provide focus and a detailed plan to prioritise resources over the near to longer term
Focus for 2023
- Industrials REIT intends to establish Near-Term Science-Based Targets in line with the Science Based Targets Initiative (SBTi) framework.
- Further refine our ESG strategy keeping it relevant and focused on material issues, taking account of stakeholder concerns and aspirations.
02
Governance
The Board of Industrials REIT has overall responsibility, with the ESG Committee reviewing and approving ESG strategy and policy. The ESG Steering Group* are accountable for the delivery and communication of Industrials’ ambitions.
Focus for 2023
- Continue to analyse and improve pathways for managing climate change across the portfolio.
- Continue to integrate sustainability criteria into key business areas
*Internal group that meets quarterly with representation from each key area of the business
03
Data
Data plays a crucial role, with the Industrials Hive platform forming a crucial link to enable engagement and carbon reduction across the business. Industrials are committed to continually improving the quality and breath of our data to track progress and continually improve our strategy.
Focus for 2023
- Continue to use Industrials Hive to improve our data capture, measurement and reporting, ensuring greater visibility and access to data for our stakeholders.
- Continue to model our key identified risks and opportunities, and their potential financial impact.
04
Engagement
Empowering our people, our customers and communities will enable us to drive longer-term change. We do this through continued engagement to ensure we deliver on what matters most.
Focus for 2023
- Investigate pathways to strengthen engagement with customers and local communities.
- Enhance learning and awareness of key ESG issues amongst our people and customers, empowering them to operate more sustainably.
05
Performance
The Group will develop a programme of works to drive down consumption and carbon across the portfolio , reducing both physical and reputational climate risk.
Focus for 2023
- Embed EPC review findings into our asset expenditure programmes to improve energy efficiency of buildings in a sustainable manner.
- Keep up to date with the evolution of renewable technology, evaluating mature technologies appropriateness for our business.
- Ensure new development is undertaken sustainably.
06
Reporting
In order to demonstrate leadership, disclosure and transparency, Industrials will aim to continuously enhance its annual reporting disclosure, considering recommendations from GRI Standards and TCFD as guidance.
Focus for 2023
- Further enhance annual reporting disclosuresto include the identification of carbon reduction targets based on our March 2022 carbon footprint set out below.
Industrials REIT total emissions March 2022
Strong Governance
The enhanced ESG governance model, established in early 2021 by our ESG Steering Committee has helped increase awareness of ESG issues within our business processes and we are continually looking to improve this.
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