1、2022 Environmental,Social&Governance ReportAbout this Report 03.A Message From Our Founders 04.Corporate Overview 05.Our ESG Strategy 07.2022 ESG Timeline 08.Our ESG Journey 09.Climate Change 10.Resource Efficiency 14.Social Impact 17.Governance 20.Corporate Social Responsibility 27.GRI Content Inde
2、x 35.Table of ContentsSLATE 2022 ESG REPORT TABLE OF CONTENTS|2SLATE 2022 ESG REPORT ABOUT THIS REPORT|3Where value investing meets investors with values.About This ReportThis report presents the material environmental,social,and governance(“ESG”)issues and impacts of our business for the period bet
3、ween January 1,2022,and December 31,2022.This report has been prepared with reference to the Global Reporting Initiative(“GRI”)Standards.Throughout this report,“Slate”or the“Firm”refers to Slate Asset Management L.P.All currency is in Canadian dollars unless otherwise noted.The contact person for th
4、is report is Bozena Jankowska,Managing Director and Global Head of ESG:.For more information on Slates approach to ESG,please visit 2022 ESG REPORT A MESSAGE FROM OUR FOUNDERS|4As owners,operators,and developers of real estate and infrastruc-ture,we are stewards of places where people live,work,and
5、shop.Essential assets that people count on for their everyday goods and services.Resilient places where tenants expect to feel safe and se-cure.And innovative developments that create new jobs,homes,and workplaces.Successfully sustaining these spaces requires that we think ahead and continually inve
6、st in making them better,stronger,more resilient,and people-centric.That common-sense notion has long been at the heart of our busi-ness,and it still guides us today.We know assets that attract tenants and perform best are those that are modern,efficient,and sustainable.A landlord that hires locally
7、,listens to the community,and invests in making it better has stronger ties with tenants,local businesses,resi-dents,and partners.Rigorous policies and ethical behavior strengthen all our dealings.And a workplace where every individual feels respect-ed,challenged,and valued makes us stronger as a te
8、am.In 2005,as an upstart asset manager with a young culture and big ambitions for growth,these principles were the building blocks for success that we recognized from day one.We didnt think of it as ESG;we did it because we knew it was the right thing to do and would contribute to the long-term succ
9、ess of our business.Fast-forward to today,ESG is leading the conversation between investors and asset managers around the world.Its in the head-lines virtually every day.The convergence of ESG thinking among stakeholders is a great thing,but its proceeding at different paces in different jurisdictio
10、ns.In Europe,where Slate has a significant real estate portfolio,government regulation and societal expectations around ESG are ahead of North America.Our international investors have been clear for some time now they expect their asset man-agers to be at the forefront of ESG.The conversation around
11、 ESG in North America is also accelerating,and there is little doubt the gap with Europe will close quickly.But when it comes to ESG,we need to separate bold promises and grand statements from the hard work of actually delivering tangible improvements in the real world.For Slate,its actually very si
12、mple.We are fiduciaries of our investors capital.We invest in real assets,primarily real estate and infrastructure.We want those assets to be resilient,sustainable,and attractive to tenants over the long-term.Our focus is to enhance the economic value of our assets and avoid stranded asset risks.How
13、 do we achieve that?We make sure we understand the material ESG risks across the life cycle of our assets.We evaluate and deploy technologies and practices that enhance the environmental efficien-cy of our buildings and the cost of running them.We seek to reduce our buildings carbon and energy inten
14、sity by looking into alternative and renewable energy sources and investing in more efficient sys-tems.We have embedded ESG into our acquisitions due diligence process to ensure we have a full understanding of the long-term cli-mate and transition risks that may impact our assets future econom-ic va
15、lue.And we are equally focused on supporting the environments around our properties as we are on those within.If we get this right,our buildings become more desirable to tenants,and we create value for our investors.To attract long-term capital,asset managers are increasingly asked to demonstrate th
16、at they have embedded ESG policies supported by rigorous governance,accountability structures,and quality data that demonstrates measurable progress.Beyond the clear demands we are already hearing from our investors,we know that more regulation is coming our way.Our job is to be proactive and prepar
17、ed for whats next.In 2022,we implemented a formal ESG policy and governance model that brings together all these elements under one strategic framework.Today,every new investment we make undergoes ESG due diligence.We are progressively building ESG models that enable us to factor in ESG consideratio
18、ns to our traditional financial metrics,while ESG considerations are increasingly being embedded in our asset manage-ment,reporting,and operating systems and procedures firmwide.After putting in place these foundational pieces,our focus contin-ues to be on the meticulous and accurate collection of q
19、uality data,which is necessary to establish the baselines from which we can set goals and targets,benchmark our performance,and report progress to our stakeholders.Much of our focus at Slate over the past year has been on getting this right,and you will read more about those ef-forts throughout this
20、 report.Its often painstaking,inch-by-inch prog-ress,but if done well,we believe it will provide us with the valuable insights necessary to navigate the business through a continuously evolving ESG landscape.In addition to the operational elements of ESG,we are working to foster an ESG culture and m
21、indset across the firm one in which every employee understands why were doing it and what their role is.Thats why it is important to have leaders from every area of the business on our ESG Committee to encourage shared ownership of the process.Were also incorporating ESG-related criteria into our an
22、nual performance assessments,and we have appointed ESG champions on each team and functional area of the firm to help sup-port the efforts of our Head of ESG.Developing and implementing an ambitious ESG policy and gover-nance framework across Slate is our way of formalizing an approach and a way of
23、thinking that we believe has always been core to how we operate.Ultimately,if we run our business with ESG at the fore-front of our thinking,we are anticipating and mitigating risks and identifying new opportunities posed by climate change and decar-bonization,providing our tenants with more resilie
24、nt and efficient buildings that they demand,and generating value for our investors.The ESG equation for Slate is clear,and we look forward to sharing our progress with you in this report.A Message From Our Founders Brady Welch and Blair WelchFOUNDING PARTNERS SLATE ASSET MANAGEMENTSLATE 2022 ESG REP
25、ORT ABOUT SLATE|5About SlateSlate has over$13 billion in assets under management in North America and Europe.Slates investment platform is centered around four pillars with thematic strategies spanning the risk spectrum from core-plus to opportunistic:Real EstateInvesting in and managing real estate
26、 assets across the risk spectrum and all property types.Real Estate CreditBridge and transitional lending,acquisition and restructuring of loans,debt securities and flexible liquidity solutions to strong sponsors across all asset classes.InfrastructureA global strategy focused on impact investing in
27、 critical and sustainable infrastructure for cities and communities.SecuritiesOur investment management business focused on real estate investing across the public and private markets.Slates investment philosophy is focused on three core principles:01.BasisAn unwavering focus on underlying fundament
28、al value when evaluating all market opportunities.This reduces risk,protects capital,and creates value.02.PerspectiveWe go where others are not.We are thematic investors and focus on key economic drivers and underlying fundamentals to select the opportunities we pursue.03.ProactiveWe have a bias for
29、 action and apply an active hands-on as-set management approach to what we do.This means being decisive,acting with urgency,delivering excellence,and innovating as we go.Slate is fortunate to partner with various investors in pub-lic markets,as well as via institutional mandates and private equity,p
30、roviding tailored solutions that meet their unique investment needs.Slate is a significant sponsor of all of its private and publicly traded investment vehicles,thereby aligning its interest to those of its investors.The Slate team includes 170 professionals,with in-house asset management,legal,tax,
31、finance,marketing,development,leasing,construc-tion,and acquisition expertise.Slate Asset Management is a privately held,global alternative investment platform targeting real assets.Since its inception in 2005,Slate has applied a value oriented and hands-on approach to asset management,earning the r
32、eputation of a best-in-class investor and establishing a proven track record of creating value.Our Global FootprintSlate by the Numbers(as at December 31,2022)$13B 542 39.2M 170 13$21BSOT.UN&SGR.UN Assets Under Management Sq.Ft.of Gross Leasable AreaAcquisitions and Dispositions Completed Since Ince
33、ptionListed on the TSXSLATE 2022 ESG REPORT OUR GLOBAL FOOTPRINT|6PropertiesGlobal Offices EmployeesSLATE 2022 ESG REPORT OUR ESG STRATEGY|7The strategy to achieve this is to embed ESG into the core of our day-to-day business,building out strategic and targeted action plans,goals,and targets that al
34、ign with our four ESG focus areas Climate Change,Resource Efficiency,Social Impact,and Ethical Business Conduct as well as our com-mitment to Corporate Social Responsibility.We recognize that each one of our business verticals has a different mandate and will be exposed to ESG risks and opportunitie
35、s in varying ways.To effectively embed ESG practices into their operations,this requires building out customised and targeted ESG action plans based on our core ESG pillars.The focus on building robust ESG data continues to remain a key part of our ESG integration strategy.It is critical in es-tabli
36、shing our baseline performance and is crucial in setting ESG goals and targets,reporting progress to investors,and providing us with reliable data which can inform our invest-ment decisions.Strong governance and accountability structures for ESG performance coupled with embedded ESG thinking in our
37、day-to-day operations will ensure Slate is best positioned to understand and respond to growing environmental regula-tions,climate risk,changing tenant expectations,and indus-try best practices.Our ESG StrategyOur mission is to mindfully grow our business by striking a careful balance between enviro
38、nmental and social sustainability;creating positive outcomes for our tenants,employees,and communities;and generating value for our investors.Our ESG Focus AreasOur approach to ESG prioritizes the following factors,which we believe to be material to our business lines.01.Climate Change Slate recogni
39、zes that climate change is one of the most pressing and immediate challenges facing the world today.As a real asset investor,owner,developer,and operator,we believe we have a role in delivering the change needed to reduce carbon emissions in the real estate and alternative asset sector.Mitigating th
40、ese key risks and opportunities will reduce regulatory and reputational risk,share costs and savings with tenants,reduce risk of stranded assets,and enhance asset value and desirability.02.Resource EfficiencyWe believe that by consistently managing environmental impacts and achieving efficiency gain
41、s,we have an oppor-tunity to own efficient and resilient buildings that serve our tenants,local communities,and the environment.This includes expectations for including energy and water consumption in investment decisions,tracking and reducing consumption and waste over time,evaluating and enhancing
42、 biodiversity and habitats at our properties,pursuing green building certifications,and integrating green lease concepts into tenant agreements.03.Social ImpactFostering strong relationships and collaborating with tenants and stakeholders supports the creation of resilient,safe,and sustainable commu
43、nities.Our ESG approach focuses on enhancing quality of life and neighborhood revitalization,prioritizing local hiring and supply chains,and engaging with stakeholders to support healthy,safe,and more resilient communities.04.Ethical Business ConductGood governance underpins all that Slate does inte
44、grity,accountability,and trust are at the core of our culture.Slate believes that setting the highest standard for integrity in our management practices,processes and systems is key to the long-term success of our business and is aligned with our commitment to good business conduct and ethics.05.Cor
45、porate Social ResponsibilityWe are committed to integrating ESG practices and procedures throughout our own corporate operations by focusing on factors that are important to our employees and communities.We strive to support the health,satisfaction,and wellbeing of our employees through competitive
46、compensation structures,leading benefits packages,employee growth and development programs,and a diverse and inclusive work environment.SLATE 2022 ESG REPORT 2022 ESG TIMELINE|82022 ESG Timeline MarchIntroduced an updated and more ambitious iteration of Slates ESG Policy and initiated an ESG data co
47、llection program for core European assetsAprilEmbedded ESG and physical climate risk due diligence assessment into property acquisitionsOctober Developed ESG due diligence checklists for real estate development and debt investments AugustLaunched a new ESG webpage and published Slates 2021 ESG Repor
48、tNovember Initiated ESG engagement with major North American grocery tenants MayBecame a member of GRESBJuneEstablished Slates Global ESG Committee July Issued Inaugural employee-centric ESG Quarterly Insider newsletter SeptemberExtended ESG data collection and ESG tenant and property management eng
49、agement to North American assetsSLATE 2022 ESG REPORT ADVANCING ON OUR ESG JOURNEY|9When you joined Slate,you were given an ambitious mandate to formalize and accelerate the firms approach to ESG strategy and performance.What were your imme-diate priorities in that process?The first and most critica
50、l part of that process for me was establishing a formal framework that governs the consistent application of ESG principles across the entire Slate platform,coupled with a detailed implementation plan.We started by updating and strengthening Slates ESG Policy,incorporat-ing new commitments that refl
51、ect the firms ESG ambitions.With that foundation in place,we turned our focus to estab-lishing and implementing a robust data collection protocol to track key ESG indicators across the business.Formalizing our approach to ESG governance was the next step in the process;we created the Global Slate ES
52、G Committee,a cross functional team responsible for oversight and stewardship of Slates ESG strategy and initiatives.Data collection and management is critical to accelerating Slates ESG performance.How did you progress against your data collection and management objectives in 2022?Collecting standa
53、rdized data that will allow us to set targets and accurately measure ESG performance is a challenge when youre working with more than 500 properties in sev-en countries,with a diverse group of tenants and property managers.In 2021,we identified a comprehensive ESG data collection and management plat
54、form and began defining the key data we needed to collect across the portfolio to deter-mine our baseline ESG performance.In 2022,we began the process of onboarding our properties onto the data collection platform and measuring energy and water consumption,waste generation,carbon emissions,as well a
55、s energy transition and physical climate risks.This is a com-plex challenge requiring data inputs that,in some cases,only our tenants have access to.Throughout 2022,we onboarded roughly 400 properties-representing 90 percent of our land-lord controlled gross leasable area-onto our data collection pl
56、atform and continue to engage with tenants on data sharing.We know that ESG integration is a key driver of ESG per-formance.How did you begin embedding ESG consider-ations across Slates business in 2022?2022 was a year of planting the seeds of ESG integration and engaging with teams to support them
57、as they worked on lay-ing down their first ESG integration building blocks.One of the most important steps was to engage across all teams in the business so I could better understand how each team worked and tease out which elements of their processes would make most sense to start integrating ESG a
58、ctions into.One of my immediate priorities was to work with our invest-ment teams to develop an ESG Due Diligence check list.Across our existing investments,my priority was to establish a process for ESG data collection for our portfolio with our asset manag-ers and property managers.With the Develo
59、pments team,it was to determine what ESG metrics we need to know to ensure that ESG can be further embedded in the development pro-cess.With the Credit team,it started by reviewing the green loan and sustainability linked loan principles and establishing an initial checklist for loan approval.Anothe
60、r key element of my focus that applies across the entire business was evaluating physical climate risks for acquisitions and standing investments.This is an exciting area of work for us as we plan to continue to build and innovate approaches to using climate data to inform our investment decisions.H
61、ow are you collaborating with stakeholders inside and outside of Slate to move your ESG agenda forward?This is one of the most critical elements of our ESG work.To be successful,we need everyone to adopt a mindset that instinctively considers the intersection of ESG and our busi-ness in what we do.Y
62、ou can only achieve that by setting out a compelling vision,demonstrating leadership from the top,and ensuring all of our stakeholders,inside and out,under-stand why getting ESG right creates an incredible opportuni-ty for us.Thats why we selected a diverse,cross-functional team of Slate leaders to
63、be on our ESG Committee,ensuring all as-pects of the business have a seat at the table and a stake in our strategy.Were also engaging with tenants to facilitate greater sharing of ESG data,and with property managers to ensure our buildings are providing appropriate services and disclosure to tenants
64、 when it comes to environmental and social issues.Whats in store for 2023?How do you plan to advance on your progress over the last year?Theres a lot happening across the entire business when it comes to ESG.To start,we are working to complete the ESG data collection onboarding process for propertie
65、s that were not completed in 2022.With all properties officially on board,the focus will shift to enhancing the quality and the quantity of the data being collected,and to address any gaps that are identified in the process.Part of this will involve engaging with tenants who-for commercial reasons-m
66、ay be reluctant to provide their own ESG data.At the same time,we are going to continue accelerating and deepening ESG integration across our business,as we make it a central focus of our approach to investment,asset management,and property development.Its a dynamic and evolving process at Slate,and
67、 we will continually look for ways to add more rigor to our approach.Advancing on Our ESG JourneyA Conversation With Bozena Jankowska,Managing Director&Global Head of ESGSLATE 2022 ESG REPORT CLIMATE CHANGE|10With approximately 40 percent of global greenhouse gas emissions attributable to the constr
68、uction and operation of buildings,the real estate sector has a major role to play in addressing climate change.Climate change also represents a material risk for real estate assets,which are susceptible to extreme weath-er events and climate transition risk.As we accelerated the implementation of ou
69、r ESG policy and framework in 2022,our focus was on identifying and understanding both climate change risks and opportunities across Slates global portfolio,as well as establishing the necessary governance and oversight structures.This included the adoption of a new data collection platform to facil
70、itate tracking and reporting of key climate related metrics.Nearly 400 properties-representing 90 percent of Slates landlord controlled gross leasable area-were on-boarded to the platform in 2022 and are now starting to track data related to carbon and other GHG emissions.Additionally,we implemented
71、 an ESG due diligence checklist for all new investments at Slate,which evaluates specific climate-related risks and metrics.The information gathered in this process is included in the business case for every potential investment that goes before Slates Investment Committee.We also began conducting p
72、hysical climate risk assessments for all new acquisitions and existing properties within the Slate portfolio to identify physical risks presented by climate change.Over the course of 2022,physical climate risk assessments were completed for 400 of Slates existing properties,and on more than 150 prop
73、osed investments.We evaluated opportunities to install green technologies at our properties,such as solar,electric vehicle charging,and sourcing of green electricity,and we plan to build on this further in 2023.Our recently launched infrastructure strategy is investing directly in assets and compani
74、es that are working in this space,providing Slate with preferential access to their technologies for implementation at our properties.Our priorities in 2023 include undertaking a more detailed analysis of the initial data collected in 2022,with a focus on identifying assets that have the potential t
75、o become stranded in the future due to climate risks.As we obtain more data,this analysis will be increasingly incorporated into valuation models.We are also work-ing to align our activities and reporting with the requirements of the Task Force on Climate Related Financial Disclosures(TCFD),with the
76、 goal of incorporating this in our public reporting in the future.Climate ChangeSLATE 2022 ESG REPORT CLIMATE CHANGE|11Through CCIIF,Slate has been able to partner and collabo-rate closely with cities,companies,and technology providers that are working across the infrastructure spectrum to ad-vance
77、long-term clean energy and sustainability solutions for urban settings.According to the United Nations(UN),the energy sector accounts for close to 75 percent of todays greenhouse gas emissions and holds the key to averting the worst effects of climate change.Cities and institutions around the globe
78、have made ambitious net-zero commitments that will require massive investments to upgrade and modernize urban infra-structure.The UN estimates that more than 1,000 cities,over 1,000 educational institutions,and over 400 financial insti-tutions have joined the Race to Zero,pledging to take rigor-ous,
79、immediate action to halve global emissions by 2030.In Germany,this 2030 emissions target includes the rollout of 15 million electric vehicles(EVs),signifying a rigorous invest-ment in EV charging points around the country.As part of our mandate to invest in infrastructure assets and technologies tha
80、t mitigate carbon emissions,in July of 2022,Slate announced the acquisition of a majority stake in ampe-rio GmbH,a specialist planner and operator of electric vehicle charging infrastructure in Germany.As a leader in electric ve-hicle charging solutions in the highly-fragmented EV charging market in
81、 Germany,amperio supports companies,cities,and communities in developing tailored charging concepts,install-ing charging stations,and providing backend management services for charging stations.Through this strategic partner-ship,Slate is helping amperio advance their goal of creating zero-emission
82、mobility.In 2022,together with amperio,Slate has financed the in-stallation of 20 charging stations across seven locations throughout Germany.These charging points use solar pho-tovoltaics as a cost efficient and renewable energy source and green power purchase agreements to ensure that clean EV cha
83、rging technology and services are easily available to communities.With the installation of these charging points,Slate abated over 11,000 tons of carbon dioxide in 2022,which is equivalent to CO2 emissions from 1,386 homes en-ergy use for one year.As part of its investment in amperio,Slate also crea
84、ted Slate Mobility,an entity that will finance and own EV charging equipment for Slate and potential third parties and receive management services from amperio.This will allow Slate to enhance the sustainability infrastructure of our own prop-erties,as well as expand and advance access to charging p
85、oints across Germany.Slate plans to implement combined solar,battery,and EV charging solutions across various Slate owned properties in Germanythe photovoltaic capacity will provide energy for both the charger and tenants consumption,with excess energy being sold to the German power grid.Driving Red
86、uctions in CO2 Emissions by Investing in Sustainable Infrastructure In February 2022,Slate launched its Cities and Communities Impact Infrastruc-ture Strategy(CCIIF),a global investment strategy that targets infrastructure assets that are advancing the global energy transition and driving reductions
87、 in carbon emissions associated with our cities and communities.SLATE 2022 ESG REPORT CLIMATE CHANGE|12The aim of this clean energy pilot was to demonstrate how bidirectional charging stations and electric vehicles(EVs)can impact energy or electricity systems within a large build-ing.More broadly,th
88、e goal of the pilot is to improve charging access by validating an energy distribution business model that benefits both building operators and EV owners,thereby lowering a key barrier to deploying EV charging infrastruc-ture within the built environment.Located at Slate-owned 55 St.Clair West in To
89、ronto,the three-year pilot completed its first full year of data collection in 2022.Using a Nissan Canada loaned Nissan Leaf vehicle,one bi-directional EV charger,and three standard charging EV charging stations,the pilot has demonstrated promising results that shore up this innovative blockchain-ba
90、sed electric vehicle-to-grid charging and energy management solution.Between January 1,2022 and December 31,2022,55 St.Clair West logged 500 charging transactions,which represents the number of times a vehicle was plugged in to one of the buildings EV chargers.These transactions totaled a collec-tiv
91、e 1,800 hours of EV charging at the property,or 12,000 Kilowatt hours of energy consumed.In total,8.6 tons of CO2 emissions were abated as a result of the transportation savings from the EV vehicles charged.Importantly,of the total 12,000 Kilowatt hours of energy con-sumed at the building using the
92、EV chargers,an estimated 4,000 KW hours was consumed via the bi-directional charger,which stored the energy during peak hours and redistributed it for consumption during off-peak hours in evening.While the bi-directional charger is not reducing energy consumption,it is optimizing when energy is bein
93、g taken from the grid by stor-ing it onsite via the Nissan Leaf car.This mechanism resulted in a net energy savings of approximately$2,000 throughout 2022 from a single bi-directional charger.Since launch,this pilot program has demonstrated the val-ue of having EV chargers available to tenants as an
94、 amenity.From a tenant satisfaction perspective,this infrastructure is an added benefit and supports sustainable behavior among ten-ants.Secondly,from an energy perspective,the pilot program demonstrated that EV charging doesnt have to add to the to-tal energy load of a building.By using a bi-direct
95、ional charging model,energy consumption can be optimized to minimize building operational costs and maximize grid efficiency.Enhancing Grid Efficiency Through Blockchain-Based Electric Vehicle-to-Grid Charging TechnologyIn 2021,Slate announced a groundbreaking pilot project in partnership with IBI G
96、roup and SWTCH Energy to explore the viability of vehicle-to-grid charging technology in multi-tenant commercial buildings.1,800hours of EV charging 8.6tons of CO2 emissions saved$2,000in net energy savings from a single bi-directional chargerSLATE 2022 ESG REPORT CLIMATE CHANGE|13Slate is proud to
97、bring forward transit-oriented development proposals to realize projects that revitalize urban infill sites and reimagine urban living.Throughout the design process,we challenge ourselves to consider opportunities to minimize emissions by encouraging public transit ridership and incor-porating strat
98、egic design choices.In December of 2022,we furthered our commitment to tran-sit-oriented mixed-use communities in the Greater Toronto Area of Ontario,Canada,with the submission of a develop-ment application to the City of Mississauga for the properties located at 2077,2087,2097,and 2105 Royal Windso
99、r Drive.Our development proposal envisages a complete,highly ac-cessible mixed-use community inclusive of a range of hous-ing forms,improved public and pedestrian spaces,and new public and private amenities.The plan for the Mississauga site dubbed the Clarkson GO Site due to its proximity to the nea
100、rby Clarkson GO transit station was designed in partnership with Gensler Archi-tects and considers four residential towers comprising over 1,200 new residential homes,new retail and live/work spaces at street level,and various improvements to the public realm.As part of design development,Slate work
101、ed to thoughtfully reduce the environmental impact of the project through var-ious low impact design features.These design features align with the commitments outlined in our ESG Policy to evaluate climate change related opportunities in our development in-vestments and further our commitment to mor
102、e sustainable,people-centric developments.Because the Clarkson GO Site is located immediately south of the Clarkson GO station,Slates development application considers a reduced parking ratio for the building to encour-age future residents to take advantage of the accessible public transit hub.Slate
103、 plans to create a pedestrian-focused central spine within the site that will greatly improve walk-ability and enhance safe and continuous access to nearby public transit.This connection aims to transform the current transit node into a more sustainable pedestrian urban com-munity that is less relia
104、nt on cars.The reduced parking ratio will mean less car parking spac-es are provided,and in turn,the underground garages can be smaller than what is typically requested by the City.By not pouring concrete and constructing this area,Slate can achieve 5.27 million kilograms of carbon savings the equiv
105、-alent of over 7,000 round-trip flights from Toronto to Van-couver-and an additional 1.9 million kilograms of carbon savings per year due to the reduction of cars on the road.Additional methods to reduce energy consumption and greenhouse gas intensity of operations of the building have been incorpor
106、ated into the design by taking into consid-eration shadow studies,careful massing,glazing ratios,treatment of the envelope,innovative heating and cooling systems,electrification,and heat recovery.Slate will look forward to realizing these low impact design features and important improvements to the
107、public realm throughout the development process.Development Design Review:Minimizing Carbon Emissions Through Low Impact Design Features We believe that by carefully considering the environmental risks and opportunities of our properties and developments,we can achieve efficiency gains that serve ou
108、r tenants,local communities,and the environment.SLATE 2022 ESG REPORT RESOURCE EFFICIENCY|14By managing environmental impacts and achieving efficiency gains,Slate aims to maintain and build a portfolio of efficient and resilient buildings that serve our tenants,local communities,and the environment.
109、In 2022,we began collecting data on water and energy use as well as waste efficiency across our global portfolio.In instances where Slate did not have direct access to this data,we began the process of engaging with tenants and property managers.Many of our tenants have their own sustainability comm
110、itments and programs,which align with those of Slate.Our goal was to explore opportunities for collaboration with our tenants on joint environmental programs at Slate properties to improve their overall sustainability.Our engagements throughout 2022 focused on Slates ESG strategy and how energy,wate
111、r,and waste data would be used and shared for mutual benefit.Green leases are another tool we leveraged to further align Slates ESG commitments with its tenants,and we made significant headway in reviewing and beginning to roll out green lease clauses in our tenant agreements.In partnership with our
112、 property managers,we developed a property manager ESG Schedule of Services,which sets a clear standard for what is expected of property managers supporting Slate and our ESG commit-ments.Using the ESG Schedule of Services as the basis,we undertook a global property manager survey to better understa
113、nd what ESG practices were already being actioned.The results enabled Slate to identify ar-eas of best practice and those which require further improvement.In 2022,we began to incorporate the ESG Schedule of Services into all our existing and new property manager service agreements,and plan to conti
114、n-ue to roll this out over 2023.A majority of Slates developments and properties are within urban areas where green spaces matter to both tenants and the local communities.Wherever possible,Slate looks for opportunities to enhance and preserve local urban biodiversity through initiatives such as urb
115、an beekeeping and planting pollinator gardens and highways for bees and butterflies at our properties.Resource EfficiencySLATE 2022 ESG REPORT RESOURCE EFFICIENCY|15Partnering With Property Management Teams to Roll Out Green LeasesThroughout 2022,with the help and collaboration of our property manag
116、ement teams,we made great strides in incorporating green leases into our tenancy agreements.Green leases are an impactful way to promote a propertys ESG performance.They provide the starting point for an ESG relationship between landlord and tenant and define the responsibilities and obligations of
117、each party,such as ESG data exchange and collaboration on initiatives that improve the overall ESG performance of a property.Green leases are particularly useful in instances where Slate has triple net leases,under which tenants cover all property expenses,including building maintenance.Over the cou
118、rse of 2022,we undertook a review of best practices and guidance on green leases in order to incor-porate green lease clauses into Slates tenancy agreements.Interestingly,some tenants shared that Slate was the first landlord to engage with them on ESG,highlighting the im-portance of this type of out
119、reach and collaboration with tenants on ESG topics.In the latter half of 2022,we began selectively rolling these leases out across our assets to align our ESG objectives with those of our tenants.We plan to expand this further in 2023 with green leases being the preferred option for new leases and l
120、ease renewals.SLATE 2022 ESG REPORT RESOURCE EFFICIENCY|16The property located at 3022 Lake Drive in Dublin,Ireland sits within Citywest Business Campus,a well-located em-ployment hub that appeals to a multi-national tenant base with strong corporate goals and ESG objectives.The loca-tion creates an
121、 attractive value proposition for occupiers given its proximity to central Dublin and affordable rents.Citywest is a popular destination for its connectivity to Dublin Airport,Dublin City Centre,and cities in the midlands and south of Ireland.The energy efficiency of a commercial property in Ireland
122、 is measured based on a standardized universal system called the Building Energy Rating(BER);a BER of A3 or higher is a prerequisite for many institutional tenants whose real estate commitments form part of their wider sustainability perfor-mance measurement.Constructed in 1998,3022 Lake Drive had a
123、n energy rating of C3 and had outdated mechanical and electrical systems poor energy efficiency,deficient insula-tion,and the heating,ventilation,and air conditioning equip-ment was reaching the end of its usable life.Slate purchased this property in February of 2022,recog-nizing the need to reposit
124、ion this dated,inefficient building to create a modern,open-concept,sustainable office space.The two storey,12,400 square foot space underwent exten-sive external renovations to include the addition of 30kW solar photovoltaic panels that can generate low cost,ze-ro-carbon,on site energy.Comprehensiv
125、e interior finishes included the installation of new insulation that significantly improved the original block wall construction notorious for air leakage and thermal inefficiency and the buildings thermal and power perfor-mance.The buildings windows and walls were refurbished and thoroughly sealed
126、to achieve an additional level of quali-ty airtightness.Doors,dcor,and landscaping were upgraded to elevate the aesthetics around the building,and retrofits to common areas and restrooms included newly elevated access floors and freshly painted and plastered walls.Slates full retrofit of 3022 Lake D
127、rive has achieved a BER of A3 and resulted in a 91 percent reduction in energy costs,which is the equivalent to saving 47,000 liters of oil annually.The building upgrades will reduce carbon emis-sions by 92 percent equivalent to 66 tons of carbon per annum or the electricity consumption of 47 homes
128、in a single year.These extensive upgrades have created a fu-ture-proof and resilient space,turning a classic 90s struc-ture into an energy efficient property that delivers the first carbon neutral building on Citywest Business Campus.Energy Efficient Retrofit Delivers First Carbon Neutral Building o
129、n Citywest Business Campus At Slate,we take a hands-on approach to asset management,investing in our properties to create value for our tenants,investors,and communities.Part of this includes retrofitting dated and inefficient spaces into modern,resilient offerings that will appeal to strong tenants
130、 who share Slates ESG values and prioritize the shift towards carbon reduction in their properties.SLATE 2022 ESG REPORT SOCIAL IMPACT|17As an owner and developer of real assets where people live,work and shop,Slate aspires to create resilient,safe,and sustainable communities in collaboration with t
131、enants and stakeholders.Our investments have the potential to enhance quality of life and support community revitalization through repositioning or redevelopment of deteriorating assets,as well as the development of underused spaces to elevate the physical infrastructure,culture,reputation,and aesth
132、etic of neighborhoods.To do this,we engage with tenants,communities,and other stakeholders to evaluate activities and investments that support their aspirations and goals for the neighborhood.Our activities seek to support economic development and revital-ization by prioritizing local skills,job cre
133、ation,the growth of local and regional businesses,and diverse supply chains.Slate is also committed to protecting the health,safety,and wellbeing of stakeholders in the develop-ment and operation of its properties by setting and enforcing clear standards that comply with local laws and regulation,at
134、 a minimum.Over the course of 2022,we continued to make investments through the repositioning of deteriorating assets,in addition to in-fill developments of unused or underused spaces.We initiated or completed several develop-ment projects that will significantly revitalize neighboring communities.T
135、his included the acquisition of ap-proximately 800 acres of former industrial lands in Hamilton,Canada,with plans to redevelop the brownfield land into a world-class intermodal employment.Slate also launched two new mixed-use,highly accessible community developments in Toronto,Canada,featuring an in
136、clusive range of housing options,improved pub-lic and pedestrian spaces,and new public and private amenities.A key part of making a social impact involves understanding the needs and aspirations of our stakeholders.To this end,we continued to deepen our tenant engagement initiatives with a greater f
137、ocus on sustainability,health,and wellness themes.In support of this effort,we advanced the rollout of our tenant engagement app,which is helping Slate and our property management partners to design programming and services that meet our tenants needs.In 2023,we plan to continue to expand and streng
138、then tenant engagement globally to better understand the ESG priorities of our tenants and identify areas of improvement.We will also be reviewing existing green building and wellness certifications across our portfolio,with plans to expand these programs at additional properties.Social ImpactSLATE
139、2022 ESG REPORT SOCIAL IMPACT|18Our properties were home to numerous installations throughout the year,from recycled pool noodle archways to brain sculptures and abstract paintings.These works reflect the artists passions and interpretations of the world,and were proud to provide a platform to inspi
140、re creative engagement within the community.In 2022,we continued our partnership with helloart and OCAD University in Canada by featuring 19 works by six local artists at the firms Yonge&St.Clair properties in Toronto.These artists are given the platform to display their works of all mediums,techniq
141、ues,and styles in a series of rotating exhibitions throughout the year.This year,we also welcomed 17 local and international artists to Yonge&St.Clair in partnership with The Brain Project,a city-wide Toronto art exhibit,to bring thought-provoking brain sculptures to our buildings to raise awareness
142、 about brain health.These sculptures featured a curated look at some of the inspirational works that tie into the themes of brain resil-ience,memory,neuroplasticity,stigma,and protection.We also continued our partnership with DesignTOa non-profit arts organization in Toronto that curates exhi-bition
143、s,presentations,and educational programming to increase public knowledge and appreciation for art and de-sign.At the end of 2022,we began preparing to host four art exhibitions at our various Yonge&St.Clair properties at the DesignTO Festival,offering our buildings as gathering spac-es to bring the
144、community together in appreciation of inno-vative local artists.Our investment in public art will continue to be a driver of in-novation,creativity,and engagement within our communities.Re-imagining properties and neighborhoods that others may overlook is central to Slates value-creation strategy,an
145、d we will continue to explore ways in which art can serve our investors,tenants,and the surrounding community for the long-term.Investing in Public Art to Create Vibrant CommunitiesIn 2016,Slate began sponsoring public art projects as part of a larger,integrated social impact commitment to provide u
146、nique spaces at our properties that give emerging artists a platform to display their work while enhancing and promoting cultural vitality in and around our properties.From left to right:Rotating Art at 1 St.Clair East;DesignTO Art at 55 St.Clair West;The Colourway installation throughout Yonge&St.C
147、lair;The Brain Project exhibit throughout Yonge&St.ClairFeature ArtistA part of our long-term investment in the arts,we are pleased to have partnered with Katelyn Truong,a current Ontario College of Art and Design Student and rising Toronto-based freelance illustrator,on several of the illustrations
148、 seen throughout this report.Katelyn believes in the effective simplicity of clean shapes and lines within her art.Her process involves becoming immersed in her subject to gather information and then simplifying it to its essence,using qualities of color and texture for a polished,final illustration
149、.To learn more about Katelyn and her artwork,visit:Katelyn Truong ARTISTSLATE 2022 ESG REPORT SOCIAL IMPACT|19Creating Exceptional Tenant Experiences Creating spaces where our tenants want to be is vital to our business at Slate.We continuously strive to enhance our properties,create community,and c
150、onnect our tenants to the things they care about most.Throughout 2022,we worked closely with our property management teams to conceptualize and execute a variety of events across our of-fice spaces designed to excite,inspire,connect,and engage our tenants.From larger-than-life holiday activations,to
151、 speaker series,fundraisers,food drives,educational classes,seasonal celebrations and even rolling out dog-friendly building participation at some of our spaces,we have been pleased to provide our tenants with opportunities to socialize,learn,celebrate,and give back together.Leveraging Leading Techn
152、ology to Enhance the WorkplaceBuilding on the success of our onsite events,in March 2022,we partnered with HqO,an end-to-end tenant experience operating system for office buildings,to launch HqOs tenant experience technology at several our office properties across Toronto and Calgary.Integrating the
153、 HqO platform into our office spaces deepens our ability to meaningfully engage with our tenants and provide a high-caliber tenant experience in an easily accessible,modern way.Using the HqO platform,tenants can incorporate safe and meaning-ful“live,work,play”aspects into their daily routines direct
154、ly from their smartphones.The HqO app allows tenants to gain access to various buildings resources,updates,and information,with functionality that in-cludes booking rooms and amenities,participating in tenant giveaways,registering for onsite events,ordering food and beverage,contacting a 24-hour bui
155、lding service center,accessing health and wellness resourc-es,and more.Initial adoption and active usage of the HqO platform among tenants at our properties is exceeding market benchmarks.Throughout 2023,we will continue to seek opportunities to strengthen the tenant community at our properties and
156、show tenant appreciation.SLATE 2022 ESG REPORT GOVERNANCE|20Good governance underpins all that Slate does;integrity,accountability,and trust are at the core of Slates culture.We believe that integrating ESG practices into our operations,management practices,processes,and systems is key to the long-t
157、erm growth and success of our business and the value we seek to create for investors and communities.Our ability to attract capital rests on our ability to demonstrate that we are responsible stewards of capital.Slates governance structure is designed to ensure that our investment process and activi
158、ties are conducted with the highest level of integrity.We have robust controls in place to prevent fraud,bribery,anti-competitive behaviour,money laundering and terrorist financing.Defining and formalizing Slates approach to ESG has been a major governance initiative for the firm over the past two y
159、ears.Over this period,we have published and implemented a more ambitious ESG Policy and es-tablished our ESG Committee and ESG Charter.ESG criteria have been built into individual employee perfor-mance reviews,and ESG champions-tasked with accelerating the implementation of our ESG policy-have been
160、identified within each business division.Moving forward,we intend to formalize our environmental management system,a framework that pulls to-gether all of Slates ESG processes,procedures,and initiatives aligned with international standards such as ISO 14001:Environmental Management System.Leveraging
161、 our improved data collection and analysis,we will also be working to set and formalize specific ESG goals and targets for each team.GovernanceSLATE 2022 ESG REPORT GOVERNANCE|21Blair Welch FOUNDING PARTNER&CHIEF EXECUTIVE OF SLATE GROCERY REIT Chicago,United StatesBrady WelchFOUNDING PARTNER London
162、,United KingdomRamsey AliPARTNER&GENERAL COUNSEL Toronto,CanadaRobert ArmstrongPARTNER&CHIEF OPERATING OFFICERToronto,CanadaJerry CainPARTNER&HEAD OF INVESTOR RELATIONSNew York,United States Lisa RowePARTNER&HEAD OF ACCOUNTING AND TAXToronto,CanadaPeter Tsoulogiannis PARTNER&HEAD OF GLOBAL INVESTMEN
163、TSChicago,United StatesSlate Asset Management Management Committee MembersOur Rigorous Approach to Corporate GovernanceSlate is a dynamic global organization that prides itself on being best-in-class.We strive for excellence in everything we do including upholding rigorous governance standards and p
164、ractices.Our corporate governance structure is designed to provide adequate,centralized oversight across the entirety of our business to ensure we are consistently acting in the best long-term interest of our clients and our firm.Management Committee Slate has a Management Committee in place,which i
165、s com-prised of all Partners at Slate and includes representation from across Slates global footprint as well as a range of business teams and functions.The Management Committee oversees the strategic direction of Slate,including overall business operations,personnel strategy,governance and risk man
166、agement issues,and more.Investment Committee Slates Investment Committee,which is comprised of all Slates Partners,provides an additional level of oversight and is primarily focused on strategic and policy-level issues,in-cluding the evaluation of all potential investments and the continuous monitor
167、ing of these investments after acquisition is complete.The Investment Committee also controls the decision of when to dispose a portfolio investment.SLATE 2022 ESG REPORT GOVERNANCE|22Upholding a High Standard of ESG Governance ESG governance underpins Slates approach to ESG integration.It is critic
168、al to informing the way we conduct ourselves,how we make decisions,hold ourselves accountable,and defines the rules and policies by which we operate.Slates approach to ESG governance is multi-layered and reflective of our goal to operate at the highest standards and to embed ESG practices across our
169、 entire business.Global ESG CommitteeThe Global ESG Committee oversees the firms implementation and adherence to the Slate ESG Policy and Roadmap,and ensures that Slate is delivering on its ESG commit-ments.The ESG Committee Charter lays out the Committees role,structure,respon-sibilities,and the op
170、eration of meetings.The role of the Committee is to provide over-sight of Slates ESG initiatives,resourcing,and delegating responsibility and monitoring of progress on ESG goals and objectives.The Committee is made up of representatives from each of Slates business lines.It meets on a quarterly basi
171、s and is chaired by the Global Head of ESG who provides quarterly updates and ESG Committee takeaways to the Slate Management Committee,comprised of Slate Partners.ESG ChampionsOver the course of the year,we appointed designated ESG champions across our many business lines.Being embedded into each b
172、usiness line,ESG champions are in a unique position to provide valuable input into the implementation of ESG policies and practices into their specific business area.This is critical to ensuring that the ESG policies and practices that are being proposed by the Slate ESG Committee remain relevant,al
173、igned,and impactful for their respective business line and that they can deliver desired ESG outcomes.The Global Head of ESG works closely with each ESG champion to support their ESG integration work and provide specific guidance to en-sure alignment with Slates broader ESG goals and objectives.Quar
174、terly ESG Insider NewsletterThe successful integration of ESG requires a holistic and inclusive approach where all individuals at Slate are made part of our ESG journey.In June 2022,we launched an in-ternal newsletter The Slate ESG Insider which is produced on a quarterly basis and sent out to all S
175、late employees.The newsletter provides an update on key ESG actions taken and how these impact the business and provide industry ESG insights to a range of topics empowering individuals to be informed on emerging topics that are shaping the real estate sector.SLATE 2022 ESG REPORT GOVERNANCE|23Due D
176、iligenceIn 2022,we formalized and integrated a substantive ESG Review into Slates due diligence process to ensure every transaction put forth to Slates Investment Committee aligns with our values and ESG commitments.Every prospective investment is now screened using Slates ESG Due Diligence checklis
177、t,which assesses key risks and mitigants across a variety of areas,including environmental certifications,build-ing materials,building services,environmental and climate change risk,and socio-economic factors.An additional Physical Climate Risk Assessment is con-ducted as part of our ESG Review to a
178、ssess the prospective investments asset-level exposure to physical climate risks.To determine physical climate risk,we use various Represen-tative Concentration Pathway(RCP)scenarios modeled by United Nations Intergovernmental Panel on Climate Change(IPCC).Any potential risks are identified via the
179、checklist,and a mitigation plan must be presented to the Investment Committee before proceeding.Investment Committee ReviewSlates Investment Committee must unanimously approve every transaction at Slate,ensuring it aligns with Slates core values and business objectives.As part of the Investment Comm
180、ittees review of potential transactions,the Investment Team must present a fulsome analysis of the merits of the transaction.The results of the due diligence ESG Review must be included as part of this analysis and presented to the Investment Committee along with recommendations for mitigating any s
181、ignificant risks.Slates full senior manage-ment team including Slates Global Head of ESG and Investments team are invited to every Investment Commit-tee meeting where investment opportunity and potential risks are discussed.OnboardingNewly acquired assets are onboarded onto our third-par-ty ESG data
182、 database,with insights gained from the ESG diligence process and any environmental information,such as Environmental Performance Certificates transferred to Slate from the seller,being reviewed and integrated into our ESG database.In 2022,we also successfully integrated our property level ESG and p
183、hysical climate risk data with Tabula,our pro-prietary cloud-based asset management,transaction,and analytics software platform.Tabula is used by our asset management teams as a property and tenant database,providing lease documents,rent rolls,interactive site plans and stacking plans for all assets
184、.Slate asset managers are now able to use Tabula to track green leases as they are rolled out to tenants.How ESG Is Embedded in Our Investment and Asset Management Approach Throughout 2022,we made significant progress toward further embedding ESG strategies and practices across our business.Our appr
185、oach to managing ESG risk and opportunities distributes responsibility across our whole team,because we know full success will require participation and accountability from every person at Slate.Asset ManagementOnce assets are onboarded,we start the process of collecting and tracking the critical el
186、ements of each properties envi-ronmental performance,including energy,carbon emissions,water consumption,waste generation,green building certifi-cations,audits,and major renovation and improvement proj-ects.Using this comprehensive dataset,we can benchmark and track property-level environmental perf
187、ormance within a portfolio of assets and identify those properties which need to be prioritized for specific environmental improvements.We partner closely with property managers with the help of our property manager ESG Schedule of Services and our tenants to collect and track building performance d
188、ata on an ongoing basis while proactively working to address any data gaps that may exit.Beyond data collection,we strive to push our ESG agenda proactively through our hands-on,value-oriented approach to asset management.Reporting In 2022,we began to report progress more consistently and formally a
189、gainst various ESG objectives to internal and exter-nal stakeholders.In early 2022,our Global Head of ESG began holding quarterly meetings with Slates Partners to share new opportunities,challenges,and achievements related to ESG in-tegration and ensure the firms seniormost leadership is aware of an
190、d advancing our strategic ESG priorities.We also began completing quarterly ESG reporting to investors in our private vehicles with whom we have an ESG-specific man-date,in addition to regulatory reporting for vehicles that fall un-der the Sustainability Financial Disclosure Regulation(SFDR)Ar-ticle
191、 8 requirements.For our publicly listed investment vehicles,Our Head of ESG also began quarterly reporting to the Board of Trustees on key ESG initiatives,updates,and milestones in addition to reporting ESG disclosure in regulatory filings.With our ESG data now flowing into a centralized system,we a
192、re enhancing our reporting frameworks to disclose more infor-mation and provide greater transparency to our stakeholders in the future.SLATE 2022 ESG REPORT GOVERNANCE|24Fostering Accountability for Slates Long-Term Performance and SuccessWe strive to foster a culture that encourages team members to
193、 think and act as owners of our business,making decisions in the best long-term interest of our clients and our firm.One of the many ways we facilitate this mindset among employees is through our compensation structure.A significant component of our com-pensation structure is performance-based pay,w
194、hich is tied to both firm and individual performance.Performance objectives are established and communicated at the start of every year,which also marks the beginning of the performance period.These performance objectives are tailored for each role and designed to align with Slates business and inve
195、stment ob-jectives.Individual performance and remuneration are evaluated on an annual basis,based on the individuals progress against the objectives set out for their role over the course of the year,as well as overall firm performance.We believe that by linking a significant portion of employee rew
196、ards to successful business and investment outcomes,we encourage a high-performance culture and reinforce an ownership mentality that equally benefits our employees and our clients.Select senior members of our team are also incentivized via allocation of carried interest across Slates investment veh
197、icles,which gives our firms key leaders an economic interest in the long-term performance and suc-cess of our firm.Finally,but equally critically,in 2022,we incorporated ESG metrics into individual performance targets for employees of the firm,ensuring individ-uals who support the implementation of
198、Slates ESG policy and practices have ESG roles and responsibilities incorporated into their performance and compensation evaluation.We believe this further fosters a culture of accountability for our firmwide ESG objectives.“By cultivatingan ownership mindset among our employees,we create a strong a
199、lignment of interest that ultimately leads to better outcomes for our team,our clients,and our firm.”Robert Armstrong,Partner&Chief Operating Officerof 2022 total compensation is variable based on performanceof 2022 total compensation was variable based on performanceAmong Our PartnersAmong Our Mana
200、ging Directors77%51%SLATE 2022 ESG REPORT GOVERNANCE|25Enterprise Risk Management Slate has implemented an enterprise risk management program that covers all elements of the firms business,including our private investment and credit activities and publicly-traded REITs.As part of this process,we hav
201、e a sys-tematic approach to monitoring and mitigating risk.An own-er is assigned to each high-risk item and is responsible for developing and overseeing a mitigation plan.This process focuses on identifying and mitigating inherent risks,while defining acceptable levels of residual risk.In addition t
202、o our enterprise risk management program,we also have a global compliance oversight program led by our Global Head of Compliance and Governance,which spans the entirety of our global investment platform.This program ensures monitoring of regulatory risk across all applicable platforms,including SEC
203、and CSA.Financial ControlsIn 2022,Slate completed its first SOC 1 Report(System and Organization Controls),to be published in 2023.The report is designed to provide increased transparency about Slates risk management and controls framework to multiple stakeholders,including investors,limited partner
204、s,and others,particularly with respect to financial transactions and report-ing.It describes Slates control environment,risk assessment process,monitoring activities,information and communi-cations,and control activities.An independent review of the 2022 report was completed by Deloitte LLP.The SOC
205、1 Report provides Slates stakeholders with an added layer of assurance and transparency,demonstrating the robustness of the firms control environment and systems.Anti-Money LaunderingSlate screens investors,property managers,development teams,service providers,tenants,borrowers,clients,and investmen
206、ts for any related flags,fines,or penalties.All coun-terparties go through anti-money laundering,know-your-cli-ent(KYC)and sanctions list screening,as well as extensive background checks.Slate is subject to various anti-money laundering(AML)laws and regulations and has adopted an Anti-Money Launderi
207、ng Program to comply with its obliga-tions under these laws and regulations.All employees of the firm are expected to be familiar with the provisions of the program that are relevant to their specific duties and responsibilities.Upholding Rigorous Internal Control and Risk Management Systems As our
208、business has grown and evolved in recent years,we have significantly strengthened our internal risk management and control environment to match.As a result,we believe we are very well prepared to navigate the increasingly complex global macroeconomic environment facing the world today,from rising in
209、terest rates to heightened expectations around ESG and geopolitical disruption.SLATE 2022 ESG REPORT GOVERNANCE|26These policies outline our governance protocols and proce-dures for assessing and addressing security risks,data loss and prevention,preventative training,cyber incident response,and dat
210、a mapping to ensure personal data privacy protection.Our data protection protocols comply with all applicable data protection regulations to which we are subject in the juris-dictions where we operate,invest,and employ.Our Data Pro-tection Policy outlines how we adhere to the requirements of these r
211、egulations,including the European Unions General Data Protection Regulation(GDRP),the California Consumer Privacy Act of 2018(CCPA),and the Cayman Islands Data Protection Law.To ensure our resilience against cyber threats,we have an Incident Response Team that properly monitors and evalu-ates our fi
212、rms computer network and manages the cyber-security risks and incidents it faces.On at least an annual basis,the Incident Response Team presents to Slates senior management a summary of any significant cybersecurity exposures and systemic risks.If senior management deems necessary,the Incident Respo
213、nse Team also discloses any findings to relevant clients and investors.In 2022,our team spent a significant amount of time honing an even more proactive approach to cyber security and data protection to further enhance our preparedness for any sys-temic threats or attacks.As part of this effort,we t
214、ook significant steps to consolidate and protect our information security in the event of future incidents.This began with a migration of our existing com-pany data to a cloud-based data storage and management solution,which has advanced security features that reduce the risk of unauthorized access.
215、The implementation of this cloud-based system has ensured consistency in file storage among our global team,a paramount component to error reduction,record keeping,and improved security.Further,in May 2022,senior Slate leaders on operational,administrative,technology,and legal teams,hosted a half-da
216、y“Tabletop”discussion on cyber security.In this Tabletop exercise,we played out various breach scenarios and strat-egized appropriate solutions with the intent of improving Slates current cyber practice.A number of proactive outcomes arose from our 2022 Tabletop,including:Refreshing our incident res
217、ponse policy;Retaining a third-party provider in the event of an incident to properly address the needs of our vendors and uncover the cause of the incident for future prevention;Updating a business recovery plan in the event of a cyber incident;Refining the mobile network connection to Slates cyber
218、 assets;and Implementing an updated firm-wide cyber security training in 2023,using an integrated platform for more sophisticat-ed and regular security awareness training combined with simulated phishing attacks.We continue to use external providers to test and improve our cyber security systems thr
219、ough phishing and other exer-cises on a regular basis to ensure security.Strengthening Our Cybersecurity and Data Privacy Safeguards The principles that guide Slates approach to cybersecurity and data privacy are outlined in our robust Cybersecurity,Data Protection,and Information Security policies.
220、SLATE 2022 ESG REPORT CORPORATE SOCIAL RESPOSIBILITY|27In addition to our investment activities,Slate is committed to integrating ESG principles and practices across our corporate footprint by focusing on factors that are important to employees and communities.We invest in the health,safety,and well
221、-being of our employees through competitive salaries and compen-sation structures,flexible work schedules and leading health benefits packages,parental leave,and vacation policies.The firm is deeply committed to fostering a diverse and inclusive work environment in which all individuals are treated
222、fairly and respectfully and are valued for their strengths.We also strive to ensure employees have equal access to opportunities and resources that will allow them to contribute fully to Slates success.Our goal is to engage employees to support their growth,professional development,and mentorship.We
223、 monitor employee engagement and satisfaction through annual surveys and implement change to address feedback we receive.Slate also contributes to local communities through donations,volunteer services and support for charitable organizations.In 2022,we focused on expanding training and career devel
224、opment opportunities available to our employees,and we formalized our approach to Diversity&Inclusion with the appointment of co-heads of a new D&I Committee,responsible for driving new programing and partnership and greater diversity in recruiting,retention,and culture.We believe these initiatives
225、will continue to strengthen our culture and contribute to our long-term success as a team.Corporate Social ResponsibilitySLATE 2022 ESG REPORT CORPORATE SOCIAL RESPOSIBILITY|28Listening to Our EmployeesWe strive to foster a culture and environment in which our team members feel engaged,empowered,and
226、 respected.This ensures they will feel driven to contribute and challenge themselves while also celebrating their efforts and achievements.Weve taken a number of steps to create opportunities for our global team to provide us with open and honest feedback.This feedback allows us to better understand
227、 what drives employee engagement at Slate and helps us to take the actions necessary to improve overall employee experience,which we believe further strengthens our business.In 2022,we invited our team to participate in our second annual Slate People Survey,where we ask employees to share their view
228、s and opinions on their experience as a Slate employee.This survey is completely anon-ymous and is administered by a third-party technology provider to safe-guard employees privacy.We are very pleased with the level of engage-ment we received and the valuable insights our employees shared with us ab
229、out what matters to them.Every year,based on these insights,we prioritize a number of actions that we believe will strengthen the employee experience at Slate.In addition to our flagship annual People Survey,we host employee ques-tion and answer sessions at the conclusion of our Global Town Hall mee
230、t-ings,which convene our global team for firmwide business and strategy updates.Using an anonymous Q&A platform,our team members can submit real time questions and comments that are addressed live during the Town Hall by Slates senior leadership.This open forum facilitates an honest and authentic ex
231、change of ideas and gives our leadership team the opportunity to respond directly to employee feedback.Giving our employees the opportunity to communicate openly about their experience at Slate helps us understand how we can continue to enhance the workplace experience and keep employees energized a
232、nd engaged,which,in turn,enables us to execute with excellence for our clients.Survey participation“I am proud to work at Slate.”“My team works well together to get the job done.”Areas of Opportunity Based on employee feedback collected during our Annual People Survey,we prioritized the following ar
233、eas of opportunity in 2022 to enhance employee experience at Slate.Launching new programming to provide training and development opportunities.Accelerating hiring to meet firmwide staff-ing needs and improve work-life balance.Creating additional internal communica-tions touchpoints to share Slates b
234、usiness objectives,strategy,and updates.Advancing our commitment to Diversity&Inclusion with a formalized policy and new internal and external D&I initiatives.2022 Annual People Survey Highlights96%81%87%SLATE 2022 ESG REPORT CORPORATE SOCIAL RESPOSIBILITY|29As the social landscape of our world evol
235、ves,we recognize the need to apply our principles of teamwork,entrepre-neurship,accountability,and bias for action to Diversity and Inclusion(D&I)practices.In 2022,we made significant prog-ress in formalizing,implementing,and advancing our firms approach to D&I globally.Creation of Formal Diversity
236、and Inclusion Policy Since Slates inception in 2005,we have abided by the val-ues of integrity,honesty,and humility.Because of this,key tenants of diversity and inclusion have,over time and organ-ically,been woven into our firms cultural fabric.This year,we decided to solidify our commitment to dive
237、rsity and inclusion by crafting a foundational Diversity and Inclusion Policy.This Policy now acts as a guide and accountability mechanism for the diverse,respectful,and collaborative social environment we aim to craft at Slate every day.Appointment of Diversity and Inclusion Co-leads A critical com
238、ponent to the ideation and implementation of this Policy was the appointment of diversity and inclusion co-leads:Molly Mahoney,Managing Director on our Capital Raising Team,and Peter Tsoulogiannis,Partner.As co-leads,Molly and Peter ensure that D&I is consistently implemented across our business and
239、 that progress continues to be made in line with the Policy,year over year.Cultivating Diverse and Robust Talent Pipelines We recruit people who share our drive and values,but are diverse across backgrounds,perspectives,and lived experi-ences.To ensure this process yields strong results,we con-sider
240、 recruitment an end-to-end process where we acquire strong,diverse talent,and retain this talent by providing robust resources for their integration into the Slate team.This year,we continued this mandate by forming a military veteran recruitment program and network partnership with Veterans on Wall
241、 Street(VOWS).Despite their honorable service,veterans are often underutilized in the workforce when they leave the military,and can struggle to find long-term employment.We have initiated a partnership with VOWS as a way of serving this community,as well as benefitting from itveterans are natural l
242、eaders,with exemplary work ethic,honor,and humility.We believe Slate can benefit from the characteristics veterans have to offer,as well as provide value for Veterans looking for meaningful employment.Womens EmpoWRE Network and EventsSlate prioritizes the championing and advancement of women in the
243、workplace.One way we embody this is through our EmpoWRE Network,which connects women from across the global real estate industry in smaller format,intimate settings,to foster valuable new connections and deepen ex-isting relationships.This program has created a community of likeminded women who shar
244、e in career experiences and expertise,which uplifts the wellbeing of its members.Empowering Strong Performance by Empowering Our PeopleAt Slate,we go beyond ensuring that our people are comfortable and safe within our work spaces,to ensure they can excel,be challenged,and challenge others.SLATE 2022
245、 ESG REPORT CORPORATE SOCIAL RESPOSIBILITY|302022 Impact Through EmpoWREmentThe Slate EmpoWRE Event Series convenes women from Slate and across the broader,global real estate industry for engaging events that provide a meaningful platform for networking,connection,and idea exchange.EmpoWRE events ho
246、sted throughout 2022female real estate professionals convened globally cities visited across North America and Europehours of networking and relationship building678613SLATE 2022 ESG REPORT CORPORATE SOCIAL RESPOSIBILITY|3101.Building Talent and TeamsWe are committed to delivering winning results wh
247、ile staying true to our core values of integrity,honesty,and humility.No one is bigger than the team and we will succeed through exceptional people,strong relationships,and collaboration.This means recruiting from a diverse talent pool and provid-ing support throughout the lifecycle of an employees
248、tenure at Slate.We aim to create the most diverse team we can across backgrounds and experiences,and then retain our employees by creating a positive work environment.02.Entrepreneurial&Growth MindsetWe are continually striving to find ways to be innovative and challenge the status quo.This requires
249、 creativity,curiosity,courage,conviction,and a belief that you can execute.We ensure that everyone at Slate is empowered to voice their opinions,have a seat at the table,and see examples of suc-cess across gender and ethnicity.Recruiting is the first step in the process,but creating an environment a
250、nd culture where our team can thrive is equally as important.03.Ownership,Accountability&ResponsibilityWe trust our people to take responsibility.This is doing what you say you will do,setting clear expectations and being open and honest.All of our team members have equal opportunity for success at
251、Slate.We set clear and achievable goals,respect each other,and encourage each others success.We empower our employees both in and out of the office with education and development opportunities,a focus on health and wellness,and community service opportunities.04.Bias for ActionThis is being agile,re
252、sponsive,and bringing a sense of urgency to getting things done.Its using judgment to keep things simple while never losing focus of the end goal.Al-though our guiding principles have led us as a team for quite some time,we are committed to progress as it relates to D&I and realize that it needs to
253、be embodied in our actions.We view D&I as an ongoing effort where we will continue to im-prove and learn.We will progress in D&I through recruitment,benefit packages,training and most importantly,how we act and operate every day,internally and externally.Our Guiding Principles for Diversity&Inclusio
254、n(D&I)We believe that a diverse and inclusive workforce makes us better across everything we do.2022 Global Employee Diversity Data WomenGender DiversityFemaleResiding outside of country of birthGeneration ZMillennialsMaleResiding in country of birthGeneration XBaby BoomersGlobal WorkforceGeneration
255、al DiversityActive new hiresIncrease globally from 2021Racially and Ethnically Diverse44.3%+2.0%36.7%+5.5%SLATE 2022 ESG REPORT CORPORATE SOCIAL RESPOSIBILITY|32Supporting Parents at Slate With a Leading Benefits PolicyWe invest heavily in the strength and robustness of our benefits plan to empower
256、our employees to go the extra mile while prioritizing their health and wellness.We are proud to offer our team a comprehensive bene-fits package that further encourages an internal culture of health and financial well-being.In 2022,we further added to our competitive benefits by up-dating our existi
257、ng Parental Leave Policy to provide equita-ble leave benefits regardless of genderwhether our people require a paternity or maternity leave,we grant all parental leave requests across our operating regions.We offer a flexible format,allowing new parents to choose when and how they approach work afte
258、r the birth of a child.Specifically,we let the parent to decide how much contact they have with work teams during leave,but do not require any contact with our business during this time.Once the parent is back at work,we have a designated transition plan,as well as other accommodations like on-site
259、parking and lo-gistics for child-care.We also offer unlimited paid time off as means to allow new parents to work from home to manage personal schedules as needed upon return to work.“We believe acompetitive benefits package that supports employees through all life stages contributes to a healthier,
260、more fulfilled,and energized workforce.”Billie McCormick,Director,Human Resources and OperationsSLATE 2022 ESG REPORT CORPORATE SOCIAL RESPOSIBILITY|33To formalize and encourage volunteerism across our orga-nizations,we launched The Slate Service Team in 2022 an initiative comprised of regional volu
261、nteers across our Slate offices dedicated to quarterly community service days.We volunteer with organizations focused on providing essential goods and services to communities in need and enhancing the cities where Slate employees live and work.This initiative has created bonding experiences for Slat
262、e employees and helped contribute to healthier and more resilient communities.In 2022,our team participated in global Slate Service Team events in Chicago and Calgary.In Chicago,we volunteered at Oak Street Beach with Chicago Beach CleanUp,a char-ity organization that hosts clean-up events throughou
263、t lo-cal beaches to promote service empowerment and strong environmental impact;in Calgary,we bagged almost 1,500 meals for Brown Bagging for Calgarys Kids,an organization dedicated to fighting childhood hunger by preparing healthy lunches for kids in Alberta.An essential aspect of Slates community
264、engagement strat-egy is charitable giving and sponsorship its important for us to provide support to local organizations so they may ex-plore and expand their mission to make a tangible,real-world impact.In 2022,we are pleased to have contributed over$111,000 in donations and sponsorships to local a
265、nd global charities across North America and Europe.We participated in the JDRF Ride to Cure Diabetes,a char-itable bike ride that has raised millions for type 1 diabetes research;played street hockey in Toronto,Canada,with Road Hockey to Conquer Cancer,the worlds largest road hockey fundraiser that
266、 helps raise money to advance life-changing cancer research and care at The Princess Margaret Cancer Foundation;and donated to Nates Honor Animal Rescue an organization dedicated to helping neglected and mistreated animals in memory of our dear friend and late colleague,Kevin Heiss.Whether its creat
267、ing a meaningful social impact through volunteering,sponsorship,or charitable giving,we are proud to come together to make a purposeful impact in our communities and will continue to find ways to strengthen the spaces we inhabit.Supporting Our Communities Through Philanthropy Slate is committed to m
268、aking a positive impact in the places where we live,work,and operate.As owners and developers of real assets,we are invested in the creation of resilient and sustainable communities that can thrive over the long term.Our teams participated in a number of philanthropic initiatives globally,sharing th
269、eir time,expertise,and resources to create value in our communities.From left to right:Toronto Slate Service Team volunteering at Second Harvest;Slate team at the 11th annual Road Hockey to Conquer Cancer fundraiser;Calgary Slate Service Team volunteering at Brown Bagging for Calgarys Kids;Chicago S
270、late Service Team volunteering at Chicago Beach CleanUpSLATE 2022 ESG REPORT CORPORATE SOCIAL RESPOSIBILITY|34Formalized Co-op Training Slate is committed to attracting and retaining young talent,and this year,we made great strides to formalize our co-op program onboarding process.The Slate Asset Ma
271、nagement Co-op Program is a four-month paid internship offered to uni-versity and college students who are interested in real estate asset management and investment.Co-ops assist the Slate team across various business lines with analytical support and management of real estate portfolios.This is a u
272、nique experi-ence that provides young professionals with exposure to the real estate industry,further developing certain skills that will aid their professional development.Our goal is to have co-ops return as full-time employees upon graduation.The formalized onboarding process includes ARGUS and M
273、ic-rosoft Office(Excel,PowerPoint,and Word)training within the first two weeks of their official start date.Ongoing training will be held within each respective business line as their team pro-gresses.Co-ops will also be assigned mentors who are there to help guide them through their internship expe
274、rience.Global Analyst Rotation Program In 2022,Slate extended the Analyst Rotation Program creat-ed to help students and early career professionals with under two years of work experience learn real estate fundamentals and gain exposure to a range of career paths within real es-tate outside of Canad
275、a to reach more of our global offices.We added Chicago,New York,London,Oslo,and Dublin to the original participating cities,Toronto and Calgary.Over the course of two years,analysts will have the chance to complete three placements across different areas of our business and will even have the opport
276、unity to move to different global of-fices to complete their placements.Excel Workshop As part of the onboarding process for incoming analysts on our Asset Management and Investments teams,Slate created an in-depth Excel workshop to improve proficiency in program basics,accounting,comparable analysi
277、s,and financial model-ing.This weeklong course was extended to current analysts,associates,and co-ops for select sections of the training to ensure employees in their first few years at Slate are caught up on specific skills necessary to their role.Analyst Training CampThe Analyst Training Camp is a
278、 two-week long immersive training program where incoming analysts convene to partic-ipate in a comprehensive onboarding curriculum of the Slate business and platform.In 2022,Slate hosted its inaugural training camp with 16 new Analysts from our various global offices including London,Oslo,Toronto,an
279、d Chicago who came together to learn about Slates global platform,tour our various properties,and train in key skills that will be critical to their growth and development at Slate.The Analyst Training Camp provides a collaborative environ-ment where new Analysts can forge valuable connections with
280、each other and with Slates senior leadership team.These connections will enable our Analysts to work seamlessly across teams,disciplines,and regions to contribute to the success of our firm.Supporting CPA CandidatesSeveral of our Slate employees have obtained their Chartered Professional Accountant(
281、CPA)designation,which is among the top credentials for individuals in business,finance,and accounting roles.Slates senior leadership team provides men-torship and business opportunities to meet each candidates required practical experience training.We are very proud to support our team in reaching t
282、his impressive milestone,as part of our broader commitment to providing all employees with a platform and opportunities to pursue their ongoing professional development.Creating Pathways for Employee Growth and Development In 2022,Slate continued to formalize its employee training policy;it is impor
283、tant for us to establish the right policies and procedures that will best benefit our employees,giving them the proper resources to succeed in their role.“Success at Slate canbe achieved through hard work and curiosi-ty.Slate fosters an environment where continuous learning and growth is not only en
284、couraged but embedded in every-thing you do.We are fortunate to have access to all the tools and support we need the final piece relies on each individuals drive and willingness to produce great work.”Yasmin Hardan,Analyst,Investor RelationsGRI Content IndexSLATE 2022 ESG REPORT GRI CONTENT INDEX|35
285、Statement of useStatement of use:Slate Asset Management LP has reported the following information cited in this GRI content index for the period January 1,2022 and December 31,2022 with reference to the GRI StandardsGRI 1 usedGRI:Foundation 2021GRI STANDARDDISCLOSURELOCATIONGRI STANDARD GRI 2:Genera
286、l Disclosures 20212-1Organizational detailsP5,62-2 a.Entities included in the organisations sustainability reportingP52-3Reporting period,frequency,and contact pointP32-6Activities,value chain and other business relationshipsP5,62-12Role of the highest governance body in overseeing the management of
287、 impactsP21,222-13Delegation of responsibility for managing impactsP21,222014Role of the highest governance body in sustainability reportingP222-22Statement on sustainable development strategyP72-26Mechanisms for seeking advice and raising concernsP25,262-29Approach to stakeholder engagementP17,28slateam/
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