High Street is deeply committed to operating both our business and our buildings in a sustainable and responsible manner, across a wide range of Environmental, Social, and Governance (ESG) issues. Our corporate sustainability strategy is built on three pillars of ESG:
Climate, Citizenship, and Risk
Within these three pillars of our sustainability strategy, we strive to demonstrate industry leadership and achieve exceptional performance in all of the following issue areas:
As we strive to continuously improve High Street’s approach to sustainability, we are now actively engaged in a multi-year effort to further develop and formalize various ESG initiatives for both our corporate and fund-level operations.
Most recently, we established a formal Board-level ESG Committee, we began participating in the annual Global Real Estate Sustainability Benchmark (GRESB), and we completed an ESG Materiality Assessment to identify the key sustainability and ESG issues which are most important and material to both our internal and external stakeholders.
In addition, we have recently committed to the following near-term goals:
- Measure High Street’s operational carbon footprint.
- Track and publicly disclose all corporate initiatives that support health and wellbeing for High Street employees.
- Issue an annual Occupier ESG Survey to measure our tenants’ engagement with ESG issues and corporate citizenship initiatives.
- Deploy a Sustainability Due Diligence Checklist to identify minimum ESG performance criteria for existing assets and new acquisitions (direct investments).
- Introduce new Green Lease language into new leases aimed at securing access to key tenant activity and utility usage data.
By pursuing these near-term goals and implementing related ESG initiatives, we believe High Street’s sustainability program will become increasingly more robust, allowing us to reduce our environmental impacts, benefit the communities in which we operate, and add economic value to our real estate investments.
Environmental Sustainability Policy
Effective: February 2016
Revised: December 2020
High Street Logistics Properties, LLC (“High Street”) is a recognized private equity real estate investment management company with a proven track record of performance investing exclusively in institutional quality industrial and logistics properties located in major markets across the eastern two-thirds of the United States. We understand our buildings impact in the communities in which they are located and the people who work inside them. High Street is committed to integrating environmental, social, and governance (ESG) policies and practices into our operational, investment, and development strategies built on the three pillars of material ESG issues of Climate, Citizenship, and Risk. We believe that embedding ESG practices into our business will benefit both our key stakeholders and the wider community.
This policy applies to all business lines of High Street – corporate, funds, joint ventures and development.
Oversight of this policy, the incorporation of environmental practices, and reporting on performance under this policy is the duty of the ESG Committee.
High Street has worked in collaboration with our key stakeholders to develop our ESG strategy. This ESG strategy is embedded in all phases of our investment cycle and was formulated through a materiality assessment and is built on the following pillars.
High Street’s primary material issues relating to climate are climate change, carbon emissions, energy efficiency, water consumption and building materials. High Street has committed to begin measuring our operational carbon footprint with internal goals to reduce emissions.
High Street has also committed to setting minimum environmental criteria for existing assets and new acquisitions as well as creating green refurbishment and tenant fit-out guide and green design standards for new development assets.
We are committed to partnering with our third-party property management teams to optimize all operational aspects within our control and will continuously seek opportunities to partner with tenants to support projects and initiatives that drive operational efficiency.
High Street’s primary material issues relating to citizenship are moral obligations, employee rights, occupant engagement and stewardship. We understand that our employees are our most valuable asset and that their mental, emotional, and physical health are paramount. We offer a comprehensive and unparalleled benefits package. High Street has committed to track and publicly disclose all corporate initiatives that support the health and wellbeing of High Street employees. High Street has also committed to expand initiatives to support corporate charity and community volunteerism and to conduct an annual occupier satisfaction survey to measure occupiers’ engagement with ESG issues and corporate citizenship initiatives.
High Street’s primary material issues relating to risk are compliance, health and safety, privacy and data security, transparency and board structure. High Street has established a board-level ESG committee to oversee the evaluation of material issues on a bi-annual basis and reevaluate goals and targets on an annual basis. High Street complies with all prevailing environmental laws and regulations throughout our offices and operations. It is expected that all employees comply with all laws and company policies including our Code of Ethics and Compliance Manual. High Street has begun to create internal and external reporting processes and has committed to producing an annual ESG report starting in 2022. High Street has also committed to formulating a clear statement on diversity and equality.
This policy will be reviewed annually to ensure that it continues to evolve and guide High Street’s ESG objectives and material issues as they are reevaluated on a biannual basis.