Cedar Pacific recognises that there are environmental, social and economic implications to all the decisions it makes as an investment manager.
Therefore, in assessing risks and opportunities the Company remains focused on the financial implications of its decisions as well as the social and environmental impact. Cedar Pacific appreciates the acute interest in environmental, social and governance (ESG) factors by stakeholders (investors, tenants, suppliers, regulators and the broader community) and their right to understand how and to what extent its business affects them, directly and indirectly, positively and negatively.
Cedar Pacific has embedded ESG considerations into its core values, shaping the way it conducts business. The Company is committed to accurate and transparent reporting for our Funds. As a responsible Investment Manager, focused on ESG initatives, Cedar Pacific, submits under the following assessments and tools:
The 2024 GRESB Benchmark Results have recognised Cedar Pacific as the leading manager for Real Estate in the Oceania.
Our team’s unwavering commitment to sustainability in every aspect of asset and investment management has led us to this remarkable achievement. At Cedar Pacific, we believe that sustainable practices are not just a trend but a necessity for creating long-term value for our residents, our investors, and the environment.
This recognition by GRESB validates our dedication to integrating Environmental, Social, and Governance (ESG) principles into everything we do, from operational efficiency to community wellbeing.
A big thank you to our incredible team and partners for helping us lead the way in sustainable living!
2024 GRESB Benchmark Results Summary
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This was Cedar Pacific’s first year of obtaining a Performance Score for Standing investments in our second fund. We achieved an overall score of 82 which is an outstanding result.
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Our funds continue to outperform against the benchmark in almost every category and has improved year on year in participation and score
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Fund 2 has seen an uplift in overall score from 2023 results as it has done so each year since we began reporting five years ago.
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We achieved perfect scores in Management as well as Social and Governance pillars for both Development and Performance in Fund 2.
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Our infrastructure fund also continues to improve in its performance year on year
Cedar Pacific is not required by law to comply with the Modern Slavery Act 2018 (the Act). However, due to Cedar Pacific’s commitment to taking all appropriate actions to mitigate the risks of modern slavery appearing within its business or supply chain, Cedar Pacific voluntarily complies and reports in accordance with the requirements imposed by the Act. Cedar Pacific is currently developing a comprehensive approach to safeguard its operations and supply chain from modern slavery risks. In addition to its policy and anti-modern slavery clauses in related policies, such as procurement policy, this approach could in future include modern slavery training, participation in industry collaborations and/or requesting further reporting on modern slavery actions occurring in our supply chain.
Governance
Cedar Pacific has an established Corporate Governance Framework comprising the principles and objectives by which decisions are made and how those in control are held to account.
The Framework is informed by the ASX Corporate Governance Councils ‘Corporate Governance Principles and Recommendations’ 4th edition 2019, and has been designed by the board of directors to ensure accountability, fairness, and transparency in Cedar Pacific’s relationship with all its stakeholders, reflecting its commitment to ensuring key stakeholders are at the centre of focus with their interests appropriately prioritised. Cedar Pacific is governed by a series of policies, procedures, best practices and guidelines, rooted in sound ethics.
Cedar Pacific’s key governance policies include, but are not limited to the following: