Learn about Advance Real Estate’s ESG principles
ESG principles, or environmental, social, and governance criteria, are how an organization implements its philosophy on human rights and resources, market behavior, corporate governance, the environment and community involvement.
On many occasions, most recently the 2020 crisis, companies with ESG principles tend to be more resilient to economic, environmental and social crises because they offer their clients more than just a financially viable alternative. They demonstrate their social commitment, strengthening business relationships and their corporate reputation.
Along with our seal of quality and trust placed on our parks, one of our most important projects has been the 2020 materiality analysis which studied and evaluated the most impactful factors according to our stakeholders.
This analysis will help us outline a strategy to grow through implementing the bestglobal practices in environmental, social and corporate governance matters.
Additionally, this analysis identified our contribution to the United Nations Sustainable Development Goals regarding ESG issues in 2020.
Our ESG principles
1. Social impact
Diversity and inclusion
Diversity makes us stronger, so we work to ensure full and effective participation regardless of gender within the company, promoting equal access to leadership opportunities at all company levels and equal pay for equal work.
Likewise, we hire regardless of disability, age, gender, race, ethnicity, origin, religion, economic situation or any other legally recognized condition or status.
Customer satisfaction
We seek to foster long-term relationships based on communicating with tenants and on providing valuable services to our tenants. To measure our success and identify ways we can improve, every year we conduct a survey that informs our action plan to raise satisfaction levels.
Building quality and safety
Offering safe and quality industrial spaces is part of our DNA. In 2020, we carefully documented our internal control processes to ensure adequate quality and safety standards, and to address risk management and compliance with internal policies.
Contribution to our surrounding communities
We are proud to support the surrounding communities through initiatives that promote education and well-being. As a recent example: we provided six elementary schools in Garcia, Nuevo Leon the opportunity to assist in the construction of multipurpose courtyards that were subsequently delivered in January 2021.
2. Corporate governance
Board of Directors
Board of Directors is composed by 3 people: 2 independent members, and 1 member representing our shareholder, PSP Investments
Business Ethics
Integrity is one of our corporate values. We operate in an industry that has been perceived as high-risk in terms of business ethics given all the interactions between different stakeholders that take place throughout the investment cycle of a real estate property. We intend to upkeep all our stakeholders to the highest ethical standards, as we believe that is the best way to conduct business.
One initiative about updating the existing Code of Ethics and have annual training with the following topics: Advance’s Ethics code, FCPA, and Anti-Bribery laws. Our new Code of Ethics now includes a wider variety of topics including our values, integrity, openness, passion, our culture, among other things.
Employee Satisfaction
As part of the corporate governance initiative, we are working in Employee Satisfaction reporting wellness, training, education, and human rights assessment. And making activities related to employees.
3. Sustainable development
- In our 2021 strategy, we will address priority and urgent issues detected in the materiality analysis, seeking to counteract our impact on the planet.
- Our current activities include recycling electronics and garbage, battery collection and reforestation campaigns; the “Adopt a Tree” campaign; and training our personnel to properly handle and care for wildlife and hazardous waste.
- Throughout the year, we use the WWF’s 10 “One Planet Living” principles to promote initiatives for the planet’s sustainability among our tenants. Initiatives include teaching and training in social and environmental matters, reforestation campaigns, an altars of the dead (“dias de Muertos”) contest, collections, and the “Advance Business Connection” supply forum for tenants.
At Advanced Real Estate, we firmly believe that integrating ESG principles in our investments and operations will make us a more resilient and capable company able to face future challenges by generate a positive impact on the people and communities surrounding us while reducing our ecological footprint.
Information sources:
- noticias.uai.cl/que-son-los-factores-asg-y-que-valor-aportan-a-las-organizaciones
- www.excelsior.com.mx/nacional/…/1436919
