“This initiative aligns with our ongoing commitment to fostering a sustainability focused culture, empowering our employees with actionable solutions, and positioning Savills IM at the forefront of the industry’s sustainability transition. I am thrilled by the overwhelming engagement and dedication across the different functions.” Joey Aoun, Sustainability & Net Zero Lead, Savills IM

“Great series and very well delivered. Brought a lot of the theory to life for those of us not involved at asset level.” Office Manager, Savills IM

“I really enjoyed all three sessions, which gave me so many good insights on how to make our ESG projects currently under way for Japan assets more effective and convincing.” Senior Investment Advisor, Savills IM

The Situation

To facilitate ongoing ESG training commitments, Savills IM allocates a specific ESG Learning & Development budget which encompasses three distinct focus areas:

1. Legislative training: Keeping up to date on evolving regulations and standards.
2. Role-based training: This includes industry courses such as BBP’s ESG for Real Estate Professionals Training for asset managers, in addition to training tailored to the specific responsibilities of different roles.
3. Strategic ESG development opportunities: Offering avenues for advanced skill development and strategic alignment with ESG objectives.

Through these initiatives, Savills IM empowers its workforce to actively engage in achieving their sustainability goals and to adapt to evolving ESG and sustainability principles. These efforts include sponsoring employees to undertake sustainability leadership programmes such as Cambridge Institute of Sustainability Leadership’s courses, as well as their unique inhouse Restorative Business Champions programme. Savills IM also include bespoke training sessions provided to Executive and AIFM board members.

In alignment with Savills IM’s Responsible Investment Approach, the ESG Team conducts an annual survey collecting feedback across the organisation regarding the training they wish to see on offer. In response to the feedback collated from the December 2022 survey, Savills IM developed and launched the Net Zero Whole Life Carbon training series to educate employees within their respective roles. 

Actions

As part of Savills IM’s training initiatives, Joey Aoun, Sustainability & Net Zero Lead, led a series of virtual Net Zero Whole Life Carbon sessions throughout the summer of 2023. 

These sessions, accessible to all employees, delved into net zero concepts, practical considerations and Savills IM’s journey with the aim of bolstering internal teams’ confidence in participating in discussions and attaining sustainability objectives. The content for this training program was developed using in-house expertise, the current Savills IM Responsible Investment Policy and materials from the BBP  and the World Economic Forum. 

The cross-disciplinary training sought to advance the practical integration of net zero initiatives, spanning corporate and portfolio levels. As a result, the training program comprised three sessions:

• Session 1 offered insights into climate change and its relationship with the built environment. The session covered the fundamentals of net zero operational carbon, along with a detailed breakdown of energy efficiency strategies and implementation measures.
• Session 2 explored the intricacies of net zero embodied carbon and whole life carbon, focusing on key design principles as well as successful internal and external case studies.
• Session 3 contextualised net zero within Savills IM's investment and asset management strategies and processes, unveiling internal guidelines aimed at enhancing the team’s expertise in this area. Participants now have access to supplementary content for ongoing learning and development through the Savills IM ESG Case Study Library and ESG Hub.

Further Net Zero training

Following the net zero carbon training, several employees requested additional training sessions on net zero carbon audits. In late summer 2023, Savills IM delivered tailored training to investment teams to aid ongoing efforts to implement key net zero carbon actions. The additional net zero carbon audit training session was attended primarily by investment team members due to the content of the training, and was made available to other employees on demand via the Savills IM ESG Hub.

Following the results of the December 2023 employee training survey, a three-part Solar Photovoltaics Training Series was delivered by Joey Aoun in collaboration with an external legal expert in Q1 2024. This series covered areas including technological insights, management strategies, regulatory frameworks and available financial incentives, alongside case studies to illustrate implementation approaches. 

They have also delivered training to colleagues on the implementation of their new ESG data platform with investment teams and property managers, as well as piloting training on the United Nations Development Goals with their Milan office. 

“Thank you for a very clear and concise run through Photovoltaics this morning. Joey managed to distil what is often presented as a confusing - and needlessly opaque - topic with consummate ease.”  Head of Residential Acquisitions, Savills IM

Benefits

By structuring the training into interactive 1.5-hour workshops with Q&A sessions, polls, and breakout activities, Savills IM successfully engaged a diverse range of participants and provided clarity on complex topics. The training garnered a 97% satisfaction rate, with participants commending the clarity and effectiveness key messages delivered. The content of the programme enabled employees to find the opportunities within their role to support Savills IM’s net zero journey. 

‘It is such a complex subject that you presented in a very compelling and appealing way. I could have listened for a lot longer; I was really hooked!” Director Marketing and Communications, Savills IM

“The training was useful as it was direct and informative. What I remember and amazed me was the information about the different construction materials and their global warming potential.” Fund Finance Manager, Savills IM

The training has elevated the standard for discussions surrounding net zero, resulting in heightened engagement from all parties equipped with a solid understanding of various pathways, concepts, and metrics. This has facilitated more informed conversations both internally and externally. Moreover, it has paved the way for a more comprehensive integration of net zero decision-making into investment processes. 

Initiatives such as the introduction of 'Fund Net Zero Pathways' and net zero audits across multiple funds and mandates have gained substantial support from teams, aligning with Savills IM’s commitment to providing a holistic view of each vehicle's net zero carbon opportunities. Furthermore, this training has laid the groundwork for the net zero transition plan within Savills IM’s operations. 

Financial    

Whilst Savills IM’s net zero carbon training series was developed internally, Savills IM has an additional ESG Learning & Development budget to upskill their teams on ESG. Their training approach is broken down into three different areas.

Examples of ESG Learning & Development budget funded training include: 

• An external consultant conducted tailored in-person training sessions in selected countries to discuss current and upcoming ESG legislation relevant to each jurisdiction in local language. 
• The AIFM Boards in Italy and Luxembourg as well as the Global Executive Committee have completed ESG leadership training delivered by Hillbreak Ltd. 
• All employees receive an overview of anti-greenwashing regulations, the consequences of non-compliance, guidelines for using terms like ‘impact’ and ‘sustainable’, and examples of what to avoid in fund marketing documents. 
• Over 50 employees having completed the BBP Real Estate ESG Training programme. Delivered in partnership with Hillbreak Ltd, the programme is designed to bridge the skills gap and address material ESG risks and opportunities across the investment lifecycle. Since its launch in 2021, the course has upskilled more than 900 real estate professionals from over 130 organisations in the sector.
• 47 employees have undertaken the Restorative Business Champions programme in partnership with FutureMakers. 

Savills Investment Management

An independent subsidiary of the Savills group, Savills Investment Management (Savills IM) is a leading global real estate investment manager with 30+ years of expertise in equity and, more recently, debt. They have over €24bn of assets under management globally, including c.€5.5bn in the UK (as at December 2022). Their global platform of 14 offices in 12 countries is led by a team with hundreds of years of combined global real estate and investment management experience.

Resources

• https://www.betterbuildingspartnership.co.uk/savills-investment-management 
• https://www.savillsim.com/responsible-investment/
• https://www.savillsim.com/documents/savills-im-2022-2023-sustainability-report-web.pdf