ESG at TIP
ELEVATING OUR STANDARDS IN ENVIRONMENTAL,
SOCIAL AND GOVERNANCE PRACTICES
Creating a positive global impact
RAISING THE LEVEL OF OUR COMPANY AND OUR INVESTMENTS
Mission
Provide value to our stakeholders by integrating sustainability and diversity into all aspects of our business.
Mission
Build a sustainable future by creating economic value, preserving resources and improving the communities in which we operate.
Mission
We integrate environmental, social and governance (ESG) considerations throughout our investment process.
How our business makes a positive difference day-to-day
- We operate within the global lease aggregation market, targeting telecom sites predominantly across Europe and Latin America. This means, we are supporting infrastructure which delivers key economic and social benefits in those regions.
- TIP offers recipients of rent-for-mobile sites, or similar infrastructure, a large up-front cash payout. Landowners, who receive payments from us often use it to make a positive difference to their lives (because, for example, it allows them to pay for medical treatment and educational courses for them and their relatives).
- TIP’s business model is focused on the acquisition of triple net lease agreements from individual landlords. This means that our business has a very modest carbon footprint. Our tenants, who typically are well known communications providers or large wholesale infrastructure providers (or “Towercos”) are acutely aware of sustainability issues and usually seek to make their sites as energy efficient as possible.
- Some of the landowners, who receive a large upfront payment from us, are community sports clubs, who use the funds to improve the club’s facilities, or charities, who use the money to further the charitable aims of their organisation. You can find testimonials from some landowners about how receiving money from TIP has made a positive difference.
TIP always strives to be:
- We successfully rolled out our new HR system to all employees in 2024. This fully GDPR-compliant system is now used by all employees to book leave and record absences. Additionally, the system runs surveys, manages performance, and serves as a communication tool to boost employee engagement. The new HR system provides us with reliable data, enabling us to easily identify skills gaps, pay gaps, absenteeism, and differences in benefit packages.
- We launched the annual employee satisfaction survey (carried out by a third party) and diversity surveys in 2024, with an initial 75% response rate and overall engagement score of 4.25 out of 5. These results provide a solid foundation for further enhancing employee engagement and driving organisational success.
- We now use our HR system to carry out annual performance reviews with each employee, utilising the objective setting and rating system we recently implemented.
- We continue to ensure that the rewards and benefits our people receive, including those related to health care, life assurance, and income replacement, are attractive and significantly exceed the minimum mandated levels for the countries we operate in.
- Using our Compliance training platform, all our new and existing employees complete online, on-demand compliance training courses quarterly, including but not limited to business ethics and conduct, whistleblowing, data protection and privacy, cybersecurity, and DEI. These modules are provided in a variety of languages.
- We have successfully rolled out ‘TIP University’. This learning programme builds on the initial induction training our IDMs receive, enhancing their negotiation skills and knowledge of investment appraisal. Our new recruits also receive in-person and online training from our CEO and other senior leaders soon after joining TIP.
- Our Employee Code of Conduct sets out the standards we expect all our employees to adhere to. It complements the business ethics training. Each year, employees formally acknowledge that they have read the Code and will comply with it. We review the text of the Code annually to ensure it remains fit for purpose.
- We understand the importance of cybersecurity to our employees, tenants, and the landowners we work with. Alongside employee training, we have extensive policies covering data protection and cybersecurity. We continuously monitor compliance and further develop these policies so have begun the ISO 27001 certification process (a key international standard for information security management) where we are addressing technology, people and processes to ensure our information security is as robust as possible.
- We know how important it is for employees to feel entirely comfortable that that they can raise concerns about the business in a completely confidential way. We believe our whistleblowing reporting processes and policies, along with the training our employees receive, align with the needs of TIP, its contractors, and employees, and comply with relevant legislation in the countries we operate in. We continue to monitor and improve these processes and policies, and have recently implemented an anonymous hotline tool to provide an alternative and confidential method of contact.
- We continue to work with the tenants of our sites to assist them in reducing carbon emissions on the cell sites they lease from us, by for example ensuring that they can rent additional space to site solar panels, turbines or batteries. We will continue to explore ways in which the TIP business can generate additional revenue by assisting our tenants to achieve their net zero goals and their goal to be less reliant on back up diesel generators on site.
- In line with third-party recommendations, we have also created stakeholder engagement, ESG board oversight, and environmental policies to enhance our sustainability practices, ensure compliance with regulatory standards, and promote transparency and accountability in our operations.
- We have also created further ESG risk assessments that explicitly mention transition risks and DEI issues to ensure we are proactively addressing potential challenges, fostering an inclusive workplace, and aligning with our long-term sustainability goals.
- In September 2024 we were delighted that our GRESB (a body that independently assesses ESG ratings for real estate related businesses) score had further increased from our inaugural ESG submission in 2023 which had already been considered a strong result.
Expand each area to see how we most recently achieved our goal.
BUT THERE’S A LOT MORE WE WANT TO DO
|E|
TIP’s Environmental Targets
An Ethical Corporate Citizen
|S|
TIP’s Social Targets
A Good Employer
|G|
TIP’s Governance Targets
A Good, Well-Governed Business
ESG Rating:
We will aim to increase our ESG GRESB score even further for our next year of submission, by
- Increasing our Management score;
- Increasing our Risk Management section, to the benchmark group average as a minimum; and
- By improving risk assessments and governance processes.
Our Commitment to Net Zero: We are committed to becoming a net zero business by 2050, aligning our strategy with the Science Based Targets initiative (SBTI), which provides a rigorous framework for reducing greenhouse gas emissions in line with the latest climate science. As part of this commitment, we are using the SBTi Corporate Net-Zero Tool, through which TIP pledges to reduce Scope 1 and 2 emissions by 90% by 2050, using 2024 as the base year.
To support this long-term ambition, we have set the following interim targets to be achieved by 2030:
- Renewable Energy: At least 25% of our total energy consumption will come from renewable sources.
- Scope 1 and 2 Emissions: We will reduce our direct and indirect greenhouse gas emissions by at least 25% compared to our 2024 baseline.
- Scope 3 Emissions: We will cut emissions from business travel (Scope 3) by at least 25% relative to our 2024 baseline.
Waste Reduction: We will implement a zero-waste policy by 2030, focusing on recycling and reducing electronic waste through sustainable disposal practices. We will achieve this by working with the office space supplier we rent from and our IT services provider.
Tenant Collaboration for Carbon Reduction: We will proactively work with the tenants of our sites to assist them in reducing carbon emissions on the cell sites they lease from us. Where possible, this will include renting them more additional space so that they can install solar panels, turbines, or batteries.
Community Engagement: We will complete our charity partner and community project set up for each office by end 2026. They will work for this project for at least one day every year, with each office committed to a 50% minimum completion rate by the end 2026.
Employee Wellbeing: Each of our teams are to set wellbeing related goals for their country; and by 2027, we will provide all employees with access to comprehensive wellbeing resources, including mental
health support (such as confidential counselling services) to support
these goals.
Employee Engagement: We will maintain our engagement survey response rate above 60% and our eNPS at 20+. We will continue to build on this success by fostering a supportive and dynamic work environment, ensuring our team feels valued and motivated.
Enhancing Professional Development: Through increased training programs (including sessions moderated by expert facilitators, in addition to software-based training) we will continue to attract and retain the most qualified professionals and achieve better results for our global clients. This includes a commitment to continue developing accessibility. “TIP University” – our internal learning portal.
Compliance Training: By 2026, we will increase our compliance module programme and our completion rate to a minimum of 75% globally, by implementing quarterly reviews and stricter monitoring.
Evolving Policies: We will review and update all our internal policies before 2026, so that they accord with best practice and are culturally and legally aligned to each jurisdiction we work in. Thereafter we will review them annually.
Data Privacy and Security: We will achieve ISO 27001 certification for information security management by end 2026; and introduce specific training for our managers by 2026 to ensure they continue to keep employee data secure.
External Compliance Reviews: From 2026, we will conduct biennial external compliance reviews with suitable external consultancies to verify that TIP is materially complying with relevant labour, data protection, and corporate regulations in the jurisdictions it operates in, aligning these reviews with either ISO 27001 standards or equivalent.
Digital Accessibility: From 2026, TIP will ensure that all our digital platforms that our employees regularly use adhere to the standards W3C sets for digital accessibility.
