CROMWELL RESPONSIBLE INVESTMENT SERIES

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10 Νοε 2013 (πριν από 3 χρόνια και 11 μήνες)

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Cromwell
Responsible Investment Series (CRIS) Criteria Page | 1

CROMWELL RESPONSIBLE INVESTMENT SERIES

Cromwell Funds Management Limited (“CFML”) is a wholly owned subsidiary of the ASX-listed Cromwell
Property Group (“Cromwell”) and the responsible entity of registered managed investment schemes.
In recognition of Cromwell’s commitment to incorporate environmental, social and corporate governance
(“ESG”) issues into its investment analysis and decision making progress, and further to CFML’s
membership of the Responsible Investment Australasian Association, CFML has adopted a series of ESG
based criteria against which potential direct property investments, and the investment vehicles through which
that property will be held, can be judged.
If the criteria are met, and the investment vehicle acquires the relevant property, the investment vehicle will
become part of the Cromwell Responsible Investment Series (“CRIS”).
The criteria for office building assets are as follows:
The Asset
1. If a development asset, it is registered for Green Star certification, targeting a minimum 5 Star Green
Star – Office Design v3. Under the Green Building Council of Australia rating tool, 5 Stars signified
Australian Excellence in environmentally sustainable design and construction.
2. If a development asset, it is an Ecologically Sustainable Development
3. If a completed asset, it has a minimum NABERS rating of 4.5 stars
4. If a completed asset, it is reasonably expected to be able to be maintained with a minimum NABERS
rating of 4.5 stars during the investment term
5. If a completed asset, key environmental indicators (for example, water usage and energy
consumption) are able to be monitored, and an annual NABERS review can be performed, by
Cromwell Property Services Pty Ltd (as the property manager)
Supply Chain
6. The following have appropriate ESG experience and capabilities:
a. For a development asset or any asset with a major capital works program, the developer
and builder
b. For a development asset or any asset with a major capital works program, the design team
c. Engaged consultants
d. Material contractors
e. Material suppliers




Cromwell
Responsible Investment Series (CRIS) Criteria Page | 2


Tenants
7. Lease terms support and/or facilitate ESG initiatives
8. Tenant(s) are, or are reasonably believed to be, supportive of ESG initiatives
9. CFML will ensure that the investment vehicle will derive less than 2% of its total income from
tenants, who in Cromwell’s opinion, derive more than 25% of their income from:
a. The sale of tobacco or pornography;
b. The operation of gaming facilities or the manufacture of gaming equipment; and
c. The manufacture of weapons or armaments.
10. CFML will not accept tenants exclusively involved in:
a. The production of tobacco or pornography;
b. The operation of gaming facilities or the manufacture of gaming equipment; and
c. The manufacture of weapons or armaments.
Investment Vehicle
11. The chosen investment vehicle should have clear delineation between the roles and responsibilities
of the Board and senior management
12. Should have a Governing body that is an effective composition, size and commitment to adequately
discharge its responsibilities and duties
13. Should ensure that all relevant employees are subject to, and aware of, the Cromwell Code of
Conduct and Securities Trading Policy
14. Should be committed to providing timely and balanced disclosure of material information to
investors, including building efficiency and performance
15. Should have a sound system of risk oversight and management
16. Should have a robust compliance system.
No particular weighting is given to the above criteria. If a particular asset or its investment vehicle does not
meet the above CRIS criteria the property may still be acquired and held by a Cromwell managed investment
scheme. However, the investment vehicle holding the asset will not form part of the Cromwell Responsible
Investment Series.