Our conversation Welcome ESG overview Closing Supplementary information Environmental Social Governance
Supplementary Welcome ESG overview Closing Environmental Social Governance information 2 Presented by Andrew König, Welcome Chief executive officer
The essence of who we are Our purpose drives us to add value to the lives of our stakeholders Welcome ESG overview Our purpose is to create Our vision is to Our mission is to Our primary goal is to and manage spaces in a be the best create sustained value grow and improve Closing South African REIT for all our stakeholders cash flow way that changes lives Supplementary information Our values are what connect us Environmental Social Exploring possibilities, Doing what’s right, Growing our Building our relationships, Governance rising to every challenge and caring understanding and being accountable and true contributing value We’re not landlords. We’re people. 3
Embedding sustainable ESG interventions COVID-19 has galvanised our efforts on ESG Welcome Welcome ESG overview ESG overview Redefine’s mission Redefine’s ‘new normal’ As a matter of priority, ESG factors must be integrated While we have developed our ESG strategy into our business strategy and day-to-day operations Closing Closing over the past few years, the COVID-19 pandemic has emphasised the importance of We aim to become an ESG leader in the South African embedding ESG considerations in our real estate sector Supplementary Supplementary information information business strategy to ensure sustainability, and it has prompted us to accelerate the We aim to align ourselves with local and international execution thereof best practice around ESG, including the UN Global Compact and SASB More than ever, we must measure our Environmental Environmental ESG risks (both ‘black swan’ and ‘grey rhino’ Our ESG strategy will be geared towards creating risk events) and manage them accordingly sustained value for all our stakeholders, particularly in light of COVID-19 and the government lockdown We introduced a multidisciplinary task force Social Social to coordinate our operational response Our commitment to the 2030 UN Sustainable to COVID-19 Development Goals will lead to the creation of a more inclusive, sustainable and resilient operating world – Governance Governance a new normal far better than the one before 4
ESG and COVID-19 Our approach is to manage for sustainability and liquidity, not for profit Welcome Our strategy is twofold: our immediate focus is to deal with the consequences of the lockdown and the exit from it, and our longer-term focus is to position ourselves for the recovery phase to ensure our continued relevance and sustainability. We have complied with all relevant laws aimed at ESG overview protecting the health and safety of our stakeholders Stakeholder emphasis to position Redefine for business continuity Closing Investors and § Collaborating with investors and funders to ensure that Redefine is provided the space to take the requisite actions funders to weather the challenging financial conditions that will arise during and post the lockdown Supplementary information § Reinforcing our purpose and values, so that everyone has clarity and is empowered to make commercially defendable decisions on their own and quickly, whilst remaining accountable for their actions is a priority during Employees remote working § None of our employees have been retrenched since the beginning of the government lockdown Environmental § Offering unique value to affected tenants through relief and assistance packages to support their liquidity needs Tenants whilst restrictive measures are in place Social Brokers and § Supporting and working closely with our suppliers and service providers to ensure their businesses survive this suppliers period and position us to receive improved levels of service Governance § Using this crisis as an opportunity to deepen our purpose by ensuring that we remain focused to create and Communities manage our spaces in ways that play supportive roles to those more vulnerable than us 5
Supplementary Welcome ESG overview Closing Environmental Social Governance information 6 ESG overview Presented by Anelisa Keke, Head of ESG
We are serious about ESG Our ESG performance has a real financial impact, and future-proofs our business Welcome How does ESG benefit us? ESG overview Employees want to work for responsible companies – the retention and motivation of a company’s workforce depends on employees’ connection to Investors are sharpening their focus and basing its purpose and meaning their investment decisions on ESG performance Closing Managing ESG-related risks mitigates Supplementary Rating agencies are increasingly integrating information reputational harm ESG factors into their credit-rating analysis ESG is not necessarily costly – it often hinges on Proactively adapting to climate change Environmental influencing sustainable behaviours in our provides funding and investment opportunities value chain Strong ESG performance attracts Social The World Economic Forum COVID-19 Risks sustainable tenants Outlook identified a prolonged recession of the global economy as the most likely fallout for the Governance world. This has far-reaching environmental, A strong governance framework helps avoid societal and technological implications corporate failures 7
Integrating ESG considerations into every aspect of what we do Our approach to integrating ESG presents multiple opportunities and poses some challenges Welcome Opportunities Challenges ESG overview Time, resources and systems are needed to Aligning our public disclosure to international conduct certain ESG initiatives, e.g. impact best practice improves stakeholder grasp of our assessments, due diligence ESG performance Closing Raising ESG awareness upstream (suppliers) and Multiple reporting mechanisms (UNGRI, TCFD, SASB) downstream (tenants, communities) in our value can complicate sustainability reporting Supplementary information chain intensifies our impact COVID-19 has delayed financial and Strengthening our internal governance protocols sustainability reporting improves the proficiency of our operations Environmental Inconsistency in the approach to ESG among Detecting and mitigating ESG-related risks helps investors (local and international), ratings agencies, future-proof our business and avoid controversies and proxy advisors Social Measuring and tracking our impact in order to Acceleration of harmful effects of climate change objectively assess our ESG performance promotes over the next 30 years Governance continuous development Assessing the impact of ESG on our ability to attract equity and debt funding improves strategic forecasting 8
ESG at an operational level: our journey so far Our ESG objectives stimulate innovation and support our strategic objectives Welcome ESG overview Environmental Social Governance Green buildings developed and Corporate Social Investment Independent non-executive managed in line with GBCSA initiatives and community chairperson appointed Closing guidelines engagement broadened with the Independence of 100% of non- launch of The Challenge Energy efficiency projects executive directors achieved, with Convention Supplementary information implemented, e.g. rollout of 60% female and 60 % Black board Solar PV Level 3 BBBEE rating maintained Combined assurance framework Various technologies Employee engagement (87%) established Environmental implemented, e.g. online and ethics scores (AA) Enterprise risk management, IT and monitoring and leak detection, outperformed benchmarks data governance protection systems smart shut-off valves and Employee wellness and training implemented sensors initiatives implemented Social Internal conflict of interest, gift Green Leasing and Green Health and safety protocols declaration and procurement Tenant guidelines implemented applied to our key stakeholders policies updated and relaunched Governance Whistleblower and grievance mechanisms implemented 9
ESG at a strategic level: where we are headed Our ESG strategy will be developed to create sustain value for all stakeholders Welcome ESG overview Environmental Social Governance Expand green building Improve our performance across Ensure business continuity programme in our office all elements of our B-BBEE management, including long-term Closing portfolio, and explore scorecard ESG-related risks certifications for industrial and Adopt formal human rights Implement anti-bribery and retail properties Supplementary information framework (incl. due diligence anti-corruption framework Introduce environmental assessments) Conduct external board evaluation management system Implement supplier code in FY2020 to further strengthen Environmental Introduce climate change policy of conduct incorporating board governance (incl. science-based targets) and ESG factors Review and refresh internal risk management strategy Further improve integrated governance structures Adopt responsible stakeholder engagement strategy Social Ensure ESG reporting is in line investment approach to increase ESG awareness with international standards amongst key stakeholders Governance Continue to observe equal pay for work of equal value 10
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