Climate Change Data

Environmental Metrics

ESG Focus Areas

• Transparency
• Environmental Responsibility
• Community Responsibility
• Human Rights

Social Achievements

• Businesses should support and respect the protection of human rights and ensure that a business is not complicit in human rights abuses – the Group business practices promote equal opportunity for all, providing fair wages and employment terms, and fostering an open dialogue with all of our employees.
• Businesses should eliminate all forms of forced and compulsory labour ‐ we are against any and all forms of child labour and compulsory labour, encourage decent employment opportunities and support employees’ rights at work.
• We believe that our businesses should support a precautionary approach to environmental challenges ‐ we encourage the development and diffusion of environmentally friendly technologies.

Governance Achievements

• The Board resolved to comply with the Quoted Companies Alliance (“QCA”) Corporate Governance Code (the Code).

Climate Goals & Targets

Environmental Challenges

• Exposure to interest rate movement
• Limited credit market capacity
• Lack of capital resources to support the Group’s plans for expansion
• Banking facilities include various covenant requirements
• The Group’s investment portfolio is concentrated in a single country
• Exposure to movements in supply and demand of the investment market
• Property valuations may fall
• Changes in government legislation

Mitigation Strategies

• The Group mitigates its exposure to interest rate movements on floating rate facilities through the use of interest rate swaps and other derivative instruments or alternatively by agreement with debt providers on a fixed interest rate.
• The Group regularly monitors its cash flow and debt funding requirements in order to ensure that it can meet its liabilities and looks to retain a spread of providers and maturities so that its refinance risk is less concentrated.
• Liquidity and gearing are kept under review by management and the Board.
• In response to this risk the Group regularly monitors its compliance with covenants and addresses any issue that may arise.
• The Board believes these risks are reduced due to the proven relationship the Group has with the tenants which enables it to recognise tenants in difficulties, as well as to anticipate units becoming vacant and to respond immediately.
• The Company’s internal management team is constantly considering new properties enabling the Company to hold a pipeline of new acquisition opportunities.
• To mitigate this risk the Group makes efforts to get a period of holiday from loan to value covenant or to exclude it when entering new refinancing agreements.
• The Group monitors any proposals for change in legislation and in regular contact with its tax advisors in this respect in order to be able to respond to any changes in the most efficient way.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Corporate Governance Code

Third-party Assurance: Deloitte LLP