Pei Asset Management, Pei’s real estate manager, is progressing in its consolidation as an accountable investment manager in the country. Among others, it subscribed to the Principles for Responsible Investment (PRI) and the SDGs, ratifying its commitment with development and sustainability, so that such principles permeate all of the assets it manages.
Principles for Responsible Investment (PRI)
Recently, Pei Asset Management was accepted as a signatory to the Principles for Responsible Investment – PRI.
Pei Asset Management will apply the PRI principles developed by this independent organization and promoted by investors worldwide, in its investment management practices.
Through Pei Asset Management’s subscription to the PRI, it officially became part of the over 3,000 signatories from 60+ countries representing more than USD 89 billions in assets under management. Colombia has seven (7) signatory parties and Latin America, forty (40). Pei Asset Management is one of them and the first real estate investment vehicles’ manager in Latin America (ex Brazil) to join the PRI as signatory.
Sustainable Development Goals (SDG)
Pei Asset Management identified material matters for the sustainability of the organization (significant economic, environmental, and social issues).
Under its analysis, the following SDGs were identified and will be tackled through a number of actions:
The Sustainable Development Goals were born in 2015, when representatives of 193 member countries of the United Nations approved this initiative, which requires a global effort to achieve human welfare. The above, under five critical areas: people, planet, prosperity, peace, and alliances, namely the 5 Ps.
PRI’s ESG (Environmental, Social and Corporate Governance)
Given Pei Asset Management’s growing interest in responsible investments, we adhered to the PRI to generate a positive impact on our investments and create value for our Investors and tenants.
This, by incorporating ESG factors (environmental, social, and governance) both during the investment process and the subsequent asset management’s phase. Some ESG factors to consider are:
- Climate change
- Greenhouse gas (GHG) emissions
- Depletion of resources
- Waste and pollution management
- Work conditions
- Positive impact and commitment with local communities
- Health and safety
- Relations with employees
- Human rights
- Bribery and corruption
- Diversity and structure of the boards of directors
- Good corporate governance practices
- Business ethics
The portfolio has 6.459.190 ft² of LEED certified construction which 364,388 m2 are Pei’s property.
These LEED certification is awarded to those buildings complying with a set of energy efficiency, alternative energy use, indoor environmental quality improvement, water consumption efficiency, sustainable development, and material selection standards.
“As managers of the top real estate investment vehicle in the country, we understand the responsibility and impact that our operation has on the environment and neighboring communities. By implementing the practices promoted by the PRI and the SDGs and deeper fostering a solid culture of sustainability in our team, we will increase the added value generated for these communities, our tenants and Investors.”Jairo CorralesPei Asset Management’s President