BACKGROUND AND RATIONALE
Real Estate, the real estate investment management business of PGIM, has been redefining the real estate investing landscape since 1970. Combining insights into macroeconomic trends and global real estate markets with excellence of execution and risk management, PGIM Real Estate’s tenured team offers to its global clients a broad range of real estate equity, debt, and securities investment strategies that span the risk-return spectrum and geographies. As an investment adviser, we act as a fiduciary, and our primary responsibility is to add economic value to our clients’ portfolios over the long-term, within the constraints of applicable investment management agreements and ongoing market conditions. At PGIM Real Estate, we believe that taking into consideration environmental social and corporate governance (ESG) factors can positively impact this long-term economic performance.
OUR ESG MISSION STATEMENT
PGIM Real Estate believes that doing the right thing for our people, the environment and our communities leads to better results for all our stakeholders. We strive to embed environmental, social and governance (ESG) best practices throughout our real estate investment, asset management, risk management and talent management processes. Through our commitment to responsible and sustainable real estate investing and management, we seek to deliver enhanced risk-adjusted returns for our investors, become a landlord of choice and maintain our position as a practitioner of good global citizenship to all our stakeholders - investors, partners, employees, and the communities in which we reside and invest.
SCOPE OF POLICY
This policy will apply to the global funds managed by PGIM Real Estate. This policy is subject to all applicable local laws and regulations. In cases where PGIM Real Estate does not have a controlling interest in the fund or a particular investment, PGIM Real Estate will use its position to influence and encourage appropriate ESG practices.