2008/09 RPI Target Review

Corporate Targets

Target	By when	Progress
Seek recognition for our approach to RPI by submitting applications to selected third party awards.	31/12/08	Complete

During 2008, Hermes submitted entries to the following external awards:
• Funds Europe Awards - Commendation
• Building Sustainability Awards - Shortlisted
• Sustainable Cities Awards - Shortlisted
• EG Awards

Target	By when	Progress
Develop and implement suitable training programmes for all members of Real Estate team to enhance their awareness of our RPI programme.	31/12/08	Complete

We have run three separate sustainability training sessions for our in house teams, covering the purpose and use of our Sustainability Rating System, our comprehensive RPI strategy and the Hermes Emissions Trading Scheme.

Target	By when	Progress
Target a wider stakeholder audience by developing an online version of our annual RPI report.	31/12/08	Complete
Conduct a peer review of our corporate strategy using Upstream Sustainability Services.	31/12/09	Target cancelled
Engage with all direct suppliers on RPI issues and set minimum standards as well as share best practice.	31/12/09	Complete

Through our extensive RPM programme, we engage with our all our main suppliers – our property managers, on all aspects of RPI. We provide guidance, support and minimum standards. See here for more information.

We will continue to identify other suppliers with which to engage, and report against progress in 2010.

Investment Targets

Target	By when	Progress
Ensure that all Investment tools include relevant sustainability improvements as highlighted by SRS, EPC’s and Flood Risk assessments.	31/01/09	Complete

We include an RPI section within the Strategic Property Plans for each individual property. This details the EPC rating of the asset, its SRS score and its BREEAM rating where applicable. It also includes information on the asset’s metering arrangements, costed EPC improvements and other costed RPI initiatives.

Target	By when	Progress
Assess all our directly managed properties using the SRS methodology to further understand the valuation impacts.	30/03/09	Complete

We have assessed all our directly managed property under SRS 2007, and we reviewed our SRS methodology to focus on risk management. Please see here for more information.

Target	By when	Progress
Implement Hermes Emissions Trading Scheme across all directly managed sub-sectors.	30/04/09	Complete

We developed our Emissions Trading Scheme in the early part of 2009, and shared the findings with the property sector. Please see here for more information.

Target	By when	Progress
Seek to apply the SRS to all Joint Venture Property assets.	31/12/09	Target cancelled

 

Development Targets

Target	By when	Progress
Undertake a comprehensive review of the Responsible Property Development Programme and implement recommendations.	31/12/08	Complete

Review undertaken culminating in the publication of our RPD Guide.

Target	By when	Progress
Distribute updated RPD guidance and tools to all consultants, contractors, joint venture partners and in house teams.	31/12/08	Complete

Our renewed guidance has been made available to all parties we have published it on our website.

Target	By when	Progress
Develop measurement and collation tools for selected KPI’s.	31/03/09	Complete

Our new development guide provides the format for collating and recording information and data against our list of KPIs for our outsourced contractors.

Target	By when	Progress
Ensure that all new developments in excess of £3 million (construction cost) have independent BREEAM assessments completed, with the intention of obtaining at least an ‘Excellent’ Rating.	31/12/09	In progress

There have been no new development projects in 2009. To be reported on in 2010.

Target	By when	Progress
Collect and record data against appropriate KPI’s for all directly managed development projects.	31/12/09	In progress

There have been no new development projects in 2009. To be reported on in 2010.

Target	By when	Progress
Ensure that all new developments in excess of £3 million (construction cost) have independent audits and achieve at least an Energy Performance Certificate rating of ‘C’.	31/12/09	In progress

There have been no new development projects in 2009. To be reported on in 2010.

Management Targets

Target	By when	Progress
Develop online versions of the RPM tools, deliverable via one single portal.	31/12/08	Not met

We did not meet this target. Due to the growing importance of accurate and consistent reporting, we have been working with the property sector to understand what these growing complexities are, and how best to measure them. Initiatives such as the GRI property supplement will give rise to changes in the way in which data is collected. As such, we have delayed the development of online measurement tools. We are however committed to developing online tools, and we will report against progress on this in subsequent years.

Target	By when	Progress
Undertake a comprehensive review of the Responsible Property Management Programme	31/12/08	Complete

We completed this review at the end of 2008. Please see here for more information.

Target	By when	Progress
Publish list of updated RPI Centres of Excellence.	30/05/09	Complete
Distribute updated RPM guidance and tools to all Property Managers	31/12/09	Complete

We have published a renewed list of RPI Centres of Excellence. Please see here for more information.

Target	By when	Progress
Distribute updated RPM guidance and tools to all Property Managers	31/12/09	Complete

We have issues an updated guidance to all PMs, and shared this guidance with the Better Buildings Partnership . Please see here for more information.

Risk & Safety

Target	By when	Progress
Ensure 100% of Risk Improvement Requirements arising from the Health & Safety risk management audit process are completed on time.	31/12/08	Not met

In 2008 there were 31 outstanding and overdue landlords Category A defects. This means that 99.8% of Risk Improvement Requirements arising from the Health & Safety risk management audit process were completed on time. For more information about Hermes’ approach to risk and safety, please see here.

Energy

Target	By when	Progress
Reduce landlord controlled CO2 emissions by 20% across our directly managed portfolio for which we have consistent energy data from the baseline year of 2006, with the intention of achieving 5% annual reductions.	31/12/10	In progress

We are making progress against this target. Please see here for more detailed information.

Between 2007 and 2008, our consistent portfolio achieved a reduction of 4.26%. Please see here for more information.

Water

Target	By when	Progress
Reduce landlord controlled water consumption by 20% across our directly managed portfolio for which we have consistent water data from the baseline year of 2006, with the intention of achieving 5% annual reductions.	31/12/10	In progress

We are aware that it will be difficult to meet this target and are working on curbing the historical increase in water consumption across our portfolio, to that effect water efficiency will continue to be our key priority for 2009/10. Please see here for more detailed information.

Between 2007 and 2008, our consistent portfolio achieved a reduction of 0.08%. Please see here for more information.

Waste

Target	By when	Progress
Achieve a 50% recycling rate across our directly managed portfolio of properties which measure waste by weight.	31/12/08	Not met

By the end of 2008, our (mass) portfolio achieved a recycling rate of 44%. Please see here for more information.

Target	By when	Progress
Achieve a 15% recycling rate across our directly managed portfolio of properties which measure waste by volume.	31/12/08	Complete

By the end of 2008, our (volume) portfolio achieved a recycling rate of 15% Please see here for more information.

Target	By when	Progress
Achieve a rate of 50% or less waste sent directly to landfill across the directly managed portfolio of properties measuring by volume.	31/12/08	Complete

By the end of 2008, our (volume) portfolio sent 16.5% of waste direct to landfill. Please see here for more information.

Target	By when	Progress
Ensure all directly managed properties are measuring waste by weight (mass).	31/12/10	In progress

In progress. By the end of 2008, 29 properties were measuring by weight and 15 by volume. Please see here for more information.

Target	By when	Progress
Ensure no directly managed properties are sending any waste direct to landfill.	31/12/10	In progress

In progress. In 2008 there were 12 properties sending some amount of waste direct to landfill. This is 27% of the portfolio by number, but is significantly less in terms of the amount of waste produced. Of those properties measuring waste by weight only 2% pf waste was sent directly to landfill. Please see here for more information.

Transport

Target	By when	Progress
Develop a Green Travel Plan guidance document.	31/12/08	Complete

We have issued a Green Travel Plan to all property managers. The document provides information on how to initiate and develop a Green Travel Plan. By sharing experience through the Centres of Excellences and by providing case studies and detail on the process involved in creating a Green Travel Plan it is hoped that they can be incorporated across the Hermes Portfolio.

Occupier Targets

Target	By when	Progress
Develop a joint carbon reduction commitment with at least one occupier in our directly managed portfolio.	30/04/09	Incomplete

We have made good progress in developing a joint carbon reduction programme with NBC Universal at Prospect House, and will be finalising the process during 2009. Please see here for more information.

Target	By when	Progress
Engage with all occupiers during lease negotiations with the intention of including sustainability clauses in all lease agreements.	31/12/09	Complete

We continue to include green clauses in all our standard leases. To date we have 50 occupiers signed up. We will report against this in 2010.

Target	By when	Progress
Engage with the top 20 occupiers in our retail and commercial sectors with regard RPI.	31/12/09	Complete

This is in progress and we will report against it in 2010.

Community Targets

Target	By when	Progress
Finalise and publish our Community Engagement Programme.	30/03/09	Complete

We completed the development of our new CEP programme by the date set, and launched it to our property managers at our RPI Forum. Please see here for more information.

Target	By when	Progress
Develop and distribute the new Community Tool to record and monitor the performance of PM’s with the aim of encouraging and sharing best practice.	30/03/09	Complete

We have sent the new CEP tool to all property managers, and will be guiding them on completing it over the summer of 2009.

Target	By when	Progress
Ensure that all category 1 and 2 properties comply with Hermes' minimum standards for community engagement, as outlined in our Community Engagement Programme.	31/12/09	In progress

Property Managers will be completing the new CEP tool over the summer of 2009 in line with the requirements set out in this target. To be reported against in 2010.