Tritax Management LLP has launched the Tritax Social Impact Foundation, as part of its commitment to increasing positive socio-economic impact in its communities.
London, 7 May 2024: Tritax Management LLP (“Tritax” or “the Group”) today announced that it has launched the Tritax Social Impact Foundation, as part of its commitment to increasing positive socio-economic impact in its communities.
This new centre of excellence will help Tritax to increase, measure and better understand the social impact it delivers for local communities. It will oversee the activities of the Group, Private Markets and listed funds (EuroBox and Big Box), centralising reporting to improve the quality and rigour of Tritax’s social impact disclosures.
The Foundation will:
- Work with customers and other stakeholders to create local and national partnerships to deliver social impact.
- Allocate money based on a clear set of criteria that align with Tritax’s values and strategy, ensuring focus and consistency.
- Focus investments in communities where needs are greatest.
- Collaborate with charity partners to determine appropriate KPIs, so that Tritax can measure social impact (and progress it) through a standardised, data-driven approach.
Establishing the Foundation both reflects the commitment in Tritax’s ESG strategy to deliver meaningful social impact and aligns to UN Sustainable Development Goals 4, 8, and 10. It also meets increased appetite from investors, customers and public sector partners for greater understanding of the social value being delivered by Tritax.
As part of this new strategic direction, Big Box has a five-year plan that focuses on supporting the future workforce to fulfil its potential. Its goal is to positively impact the lives of 250,000 young people, prioritising those most in need in the communities in which it owns or is developing assets.
By working in conjunction with customers and stakeholders (including suppliers, industry bodies and charitable organisations), it will invest £2m+ in education, skills building and personal development opportunities – supporting people from primary school age through to tertiary education and employment. This includes the already established community benefit fund, which is focused on Big Box’s development programme.
The Foundation will regularly report to Tritax’s Operations Committee and to relevant ESG and Investment committees to ensure consistent progress benchmarking.
Alan Somerville, Head of ESG at Tritax, commented: “We want to deliver positive social value in the communities in which we operate. The Foundation’s unique governance structure will help us to more accurately measure our impact and ensure that we continue to direct our investment where needs are greatest.
“We will be collaborating with our charitable partners to develop meaningful KPIs – and will use this data to tell the story of the projects we support, and to demonstrate the direct impact of our investments on our communities. This will make it simpler for our stakeholders to see the progress we are making.”
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FOR FURTHER INFORMATION, PLEASE CONTACT:
Kekst CNC (Communications Adviser)
Neil Maitland/Tom Climie
07971 578 507 / 07760 160 248
About Tritax Management LLP
Tritax is an asset manager investing in critical supply chain real assets aligned with the structural trends that are shaping the future economy, including digitisation, automation, urbanisation and green energy. Our four funds – Tritax Big Box REIT plc (FTSE 250), Tritax EuroBox plc (FTSE 250), MetroBox (private) and Tritax Property Income Fund (private) – own and manage more than 50 million sq ft of modern, flexible and well-located real assets. These funds help businesses succeed in a dynamic economy by enabling sustainable and resilient supply chains and offer investors access to a wide range of some of the most attractive opportunities in this fast-growing sector. We collaborate with our stakeholders to deliver a cleaner, healthier and more equitable society because we believe this will drive superior returns over the long term. Our specialist focus and 25+ year track record help us to identify some of the most attractive investment opportunities, while our entrepreneurial spirit and strong governance mean we can move fast and confidently act on them. Tritax is backed by global asset manager abrdn.
