Pigeon is an investment company managing a portfolio of real estate projects in the UK focused on strategic land development, commercial property, power and renewables.
Purpose
Pigeon’s purpose is to provide high quality opportunities to invest in sustainable land, property development and existing commercial property. Each project is assessed on economic returns in addition to environmental and social value.
Compliance with regulatory requirements is the basic foundation of Pigeon’s approach. Beyond this, there are a number of objectives the company has set to create a positive impact from its day-to-day, office-based operations.
Environmental Objectives
Pigeon’s overarching environmental objectives include:
- Net-zero greenhouse gas emissions from own operations by 2030
- 100% renewable power by 2030
- All new company owned vehicles will be electric from 2023
- Zero waste to landfill by 2025
- Monitor and reduce water use
- ISO14001 or equivalent requirement of all major suppliers
People and Community Objectives
Pigeon’s overarching goals to support people and communities include:
- Zero accidents and incidents in the workplace
- All employees receive training on the ESG policy in addition to relevant processes and procedures
- All employees receive unconscious bias training
- Wellbeing support for all employees
- Equitable pay and pensions for all employees and contractors
- All major suppliers provide a statement of compliance with the Universal Declaration of Human Rights and other relevant national laws
Governance Objectives
Pigeon adheres to all relevant regulation in relation to the governance of the business and has the following specific objectives:
- Effective board is maintained through a regular review of director skills, knowledge and performance in line with business needs
- Board meetings take place on a quarterly basis to maintain good understanding and oversight of risks and opportunities
- Remuneration committee carries out a regular review of salaries and benefits to ensure the company remains able to attract and retain employees in key roles throughout the company
- Company risk register is kept up to date and management resources are in place to manage and mitigate key risks
- Regular engagement with all shareholders and other critical stakeholders is carried out to align economic, environmental and social aspects of the business
- All directors receive regular training and professional development support to stay aligned with changing regulations and trends that may impact the business.
- Effective committees are in place for: nomination, remuneration, audit and sustainability
Monitoring and Reporting
Pigeon adheres to UK guidance on effective corporate governance and is implementing a fully integrated environmental and health & safety management system to ensure the appropriate processes and procedures are in place to manage and monitor all aspects covered in this ESG policy. Key performance metrics will be reported to the board on a Quarterly basis to track progress and address any challenges that arise.
As part of the integrated management system, Pigeon will implement an employee and external stakeholder engagement process to gain input for continuous improvement of its objectives, progress and ESG management approach.
Annual Review
The Pigeon Board requires a formal annual review of ESG progress of the company to identify areas for improvement. An annual report of performance and commitments for improvements will be available publicly on the Pigeon website.
Investment Activities
Pigeon recognises the importance of understanding the ESG risks and opportunities of its investments and is in the process of developing a set of principles and overarching approach to support effective decision making in line with industry best practice.
Issue Date: 15 March 2024