Ensuring good governance

Good governance helps us to attract and retain talent, manage costs and build trust with employees, investors, tenants, suppliers and other stakeholders.

To ensure good governance throughout Redevco, we have systems in place that control how the company takes decisions, meets its legal obligations and achieves its operational requirements. We have an ethical, value- driven culture based on dialogue, respect and integrity, where issues are addressed swiftly and transparently.

Good governance helps us to attract and retain talent, manage costs and build trust with employees, investors, tenants, suppliers and other stakeholders. It ensures continuity, creates value for our shareholders and other stakeholders and helps Redevco be a sustainable organisation.

How we govern

We have set up our organisational structure in a way that increases speed, agility and focus as a platform, while maintaining Redevco’s strengths in local markets through our country-based asset management and specialist teams across Europe. The Redevco Board members oversee the different functional areas within the business, and each of these functions focuses on a particular part of the business as it prepares and implements Board and Leadership Team decisions in their respective areas of expertise. This structure helps to maintain clear responsibility and accountability for day-to-day operational management.

Good brakes allow us to drive faster

This slogan represents our approach to risk management. To achieve our strategic objectives, we need to think, decide and act fast. And though it may seem counter-intuitive, good brakes allow us to go faster, secure in the knowledge that the risk is under control. This is the role fulfilled by Redevco’s Governance Risk & Compliance (GRC) framework, designed in line with the COSO ERM principles*.

The framework supports management in identifying, analysing, evaluating and mitigating risks that may impact the achievement of our long-term strategic objectives. It supports a better understanding of risks and mitigating measures, minimises losses and incidents and enables Redevco to benefit from opportunities. Components of the framework are:

  • Business Integrity – providing guidance on ‘the way we work’ and establishing boundaries for Redevco’s activities.
  • Decision-Driven Organisation – a framework that describes the decision-making structure based on ‘three lines of defence’, each with clear mandates, roles and responsibilities.
  • Risk-Based Policies – instructions and guidelines providing details on material business processes.
  • Risk & Control – setting out how risks are identified and managed through effective controls describedin the risk and control matrix.
  • Compliance – setting out how internal compliance is achieved on the basis of the GRC framework. Redevco’s GRC framework is considered essential for achieving our long-term strategic objectives and ensures a responsible governance approach is in place.

*The Committee of Sponsoring Organisations of the Treadway Commission’s enterprise risk management framework is a widely accepted risk managementstandard organisations use to help manage risks in an increasingly turbulent, unpredictable business landscape.

Business Integrity Principles

Our approach to responsible governance Redevco’s Business Integrity Principles are a key component in building and maintaining a strong, unified culture across Redevco. The Business Integrity Principles are centred around four core values, being:

  • Integrity: we do business fairly and honestly at all times and in all matters.
  • Excellence: we strive to always improve our work by finding better and more efficient solutions.
  • Balance: with continuity in mind, we think and act as a partner to our stakeholders.
  • Team Spirit: sharing knowledge and exchanging ideas across the group helps us act as one.

For each of these core values, the Business Integrity Principles describe what we expect from each other when we cooperate and do business. We organise trainings annually for all employees to discuss our values and any dilemmas we face when applying these values in our day-to-day work. After these trainings, employees are asked to sign a document stating that they adhere to the way we work as described in the Business Integrity Principles.

In 2023, 100% of employees signed this commitment (100% in 2022) and 84% completed the integrity workshop(89% in 2022). For new employees, an onboarding programme is in place that clearly explains our values and Business Integrity Principles.

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Redevco strongly encourages employees as well as external stakeholders to report any breach or suspected breach of any law, or a breach of these BIP or other Redevco policies and procedures. Incidents should be reported to the local management team in the first instance. When in doubt, incidents can also be reported to the Group Compliance Officer by email ([email protected]) or by telephone (+31 20 599 6263).

Find the Speak Up policy here

Our committees

The Investment Committee, chaired by our CEO, makes all investment and divestment decisions. Its members include the CFO, the CSIO and the Head of Global Transactions, the Managing Directors of Transaction Management and the Managing Directors of Fund Management.

The purpose of the Information Security Committee (ISC) is to advise the Management Board in fulfilling its oversight responsibilities with regard to Redevco’s information security programmes and risks. The ISC consists of the CFO, General Counsel, the Head of Governance, Risk Management and Compliance, the Head of Information Technology and the Manager IT Infrastructure & Support.

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Inclusivity, Diversity & Equality

At the end of 2020, Redevco adopted a Diversity & Inclusion Policy and created the Redevco Inclusivity, Diversity & Equality Board (RID&E) to strengthen our existing ethos and to maintain a workplace in which everyone feels welcome, included, and respected. Read more on the RID&E Board here.

To promote this inclusive culture, acknowledge the value of diversity and harness talent, the Redevco NextGen Board was established in 2021. The NextGen Board supports the Redevco Board with idea generation and innovation, advisory and delegated decision-making. In addition, the Board asks the NextGen Board to handle and make decisions on certain projects and issues that call for traction or refreshing resolutions. Read more about the NextGen board here.