As a manager of real estate assets, this is the principal area where we can have an impact. Our key approach is refurbishment first, rather than demolition and re-development. Through investing in and improving existing buildings by the addition of new roofs, LED lighting and better insulation, for example, we are able to make a dramatic improvement to the energy performance of our buildings.
Investing in our buildings in this way creates real change. The charts below measure the improvement to the Energy Performance Certificates (EPC) of our assets between acquisition and now (or when a building is sold)
Paloma has developed a clear sustainability strategy, aligned to ISO14001, to identify and manage sustainability risks and opportunities within our portfolios with the aim of including effective sustainability practices throughout the lifecycle of our assets.
An Energy Performance Certificate (EPC) measures a building’s energy efficiency on a scale from A (most efficient) to G (least efficient). It indicates how much energy a property consumes and its overall environmental impact.
We use a standard "traffic light" system to visualise these ratings:
The Paloma Foundation was established in 2019 as a Charitable Incorporated Organisation (CIO) registered with the Charity Commission. It receives a percentage of Paloma’s profits and it’s charitable purpose is the advancement of the Christian faith through education and the relief of poverty. The Foundation has particularly concentrated on the issue of homelessness through supporting two charities, Hope into Action UK and a night shelter close to our office in central London run by a local church, All Souls Langham Place.
The team have also enjoyed a number of volunteering days. We have developed strong links with StandOut, a charity that provides coaching and practical support to people rebuilding their lives after prison. Our support has included participating in mock interview sessions in one of StandOut’s partner prisons in London. We also volunteered at Soup Kitchen London preparing and serving meals and drinks to the local homeless community.
Our focus is on applying the highest standards of governance generally, with the additional layer of making sure that all material decisions are subject to independent scrutiny and oversight.
The Investment Committee are responsible for approving all property acquisitions and disposals, any financing or refinancing, any capital expenditure in excess of a pre-agreed limit and any extension of the life of the Fund.
Unusually, our Investment Committee has two independent members, at least one of whom is required to approve every transaction.
The General Partner has full power and authority, on behalf of the Fund, to operate each Fund and manage each Fund’s investment portfolio. The General Partner Board includes one Director who is independent and who has a real estate investment background.
