Environmental, Social and Governance

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.

Reduce waste to landfill by 20% by 2031 for all operational assets

Decrease water usage by 5% by 2031 for all operational assets

Net-zero carbon emissions by 2050 for the Company

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 initiatives, 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.

At Cedar Pacific, our team has an unwavering commitment to sustainability in every aspect of asset and investment management. A core focus of our business includes driving strong ESG outcomes across our development and standing investments under management. This includes ensuring we continue to outperform against the benchmark in our reporting such as GRESB.

As part of the benchmark results for 2024, our Fund 2 achieved the following score breakdown:

2024 GRESB Benchmark Results Summary

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.
Our funds continue to outperform against the benchmark in almost every category and has improved year on year in participation and score
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.
We achieved perfect scores in Management as well as Social and Governance pillars for both Development and Performance in Fund 2.
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.

Click here to read our Sustainability Report 2023

Click here to read our Modern Slavery Statement 2023

Click here to read our Sustainability Report 2022

Click here to read our TCFD Report 2022

Click here to read our Modern Slavery Statement 2022

Click here to read our Sustainability Report 2021

Click here to read our Sustainability Report 2020

Governance

Cedar Pacific is committed to effective corporate governance, underpinned by organisational culture, trust, fairness and accountability. Cedar Pacific endeavours to maintain a culture of sound corporate governance from the ‘top down’, recognising that this ultimately influences the conduct and success of the entire organisation.

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’ 4^th 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:

Governance Policy

Board Charter

Documents the respective roles, responsibilities, and authorities of the Board of directors and Management in setting the direction, management and control of the organisation.

Conflicts of Interest policy

Provides a framework to effectively identify, disclose and manage potential, actual or perceived conflicts of interest.

Code of Conduct

Developed to ensure consistent ethical standards of conduct are adopted across Cedar Pacific.

Anti-corruption and Anti-bribery Policy

Details Cedar Pacific’s standards and guidelines to conducting its business with honesty and integrity and complying with relevant laws and regulations.

Delegation of Authority Policy

Sets out the authorising environment and the circumstances under which the Board may delegate its responsibilities.

Privacy Policy

Describes the types of personal information that Cedar Pacific’s collects, holds, uses and discloses and outlines its personal information handling practices in order to comply with the Privacy Act 1988.

Whistle-blower policy

Documents Cedar Pacific’s commitment to ensuring employees are able to report unacceptable conduct without fear of intimidation or reprisal.

Gifts and Benefits policy

Developed to ensure consistent standards of conduct are adopted in relation to the offer and receipt of gifts and benefits, whilst ensuring transparency and a high level of integrity and trust is maintained at all times.

Workplace health and safety policy

Documents Cedar Pacific’s commitment to ensuring a healthy and safe work environment for all employees.

Risk Management Policy and Framework

Documents Cedar Pacific’s risk management policy, including the risk framework, objectives and key roles and responsibilities associated with the management of risk.

Fraud Control Plan

Documents Cedar Pacific’s activities and practices that will enable the Group to minimise fraud risk and respond appropriately to allegations of fraud.