A transparent company
Niam is a responsible property manager. Therefore, we work with several global and local stakeholders and regulatory authorities.
Although our main business consists of managing real estate funds, we understand the importance of striving for continuous improvement as well as communicating openly towards investors, supervisors and other stakeholders. Niam participates in the UN Global Compact and Global Real Estate Sustainability Benchmark (GRESB) to properly measure and communicate our sustainability efforts. We also support the European Association for Investors in Non-Listed Real Estate Vehicles (INREV) and our business processes are certified according to the International Standard Organization (ISO).
The UN Global Compact (UNGC) is the world's largest sustainability initiative for companies, and in May 2017 we signed UNGC. We hereby commit ourselves to working according to their 10 principles which include human rights, the environment, working conditions and anti-corruption. These principles also set the framework for our sustainability communication. We publish an annual sustainability report, a so-called Communication on Progress (COP), which includes measures taken and how they are followed up. The 2019 Sustainability Report can be downloaded here.
In addition to the UNGC, Niam reports annually to GRESB, whose purpose is to strengthen and protect shareholder value by evaluating and improving sustainability practices in the global real estate industry. GRESB is used by both Niam and our investors to evaluate our funds in relation to a benchmark in order to improve our overall sustainability performance. Niam works actively with the benchmark to identify improvement areas based on results. Niam also maintains individual dialogues, concerning Niam's sustainability and improvement focus, with investors who are GRESB members.
Niam has long been a member of INREV, whose goal is to increase transparency, professionalism and best practices in the real estate sector in order to make it more accessible and attractive to investors. We support this work by following the organization's reporting recommendations and taking part in INREV's committee work.
In accordance with the Alternative Investment Fund Management Directive (AIFMD), Niam AB is authorized and regulated to conduct alternative investment fund activities under the Swedish Financial Supervisory Authority.
Niam's commitment to internal control and risk management is reflected in our management system, whose business processes are documented and revised regularly. The management system is certified according to the ISO standard for quality, 9001:2015, and environment, 14001:2015. ISO is an international standard that improves the efficiency of quality and environmental management systems, including risk management, to enhance customer satisfaction and performance through process orientation. The environmental management system ensures that Niam establishes a plan that takes into account significant environmental aspects for each property, and that during our time of ownership, we take steps to implement the plan. Our latest annual external audit was conducted by Lloyd's Register (LR) and our latest internal audit was conducted by AFRY.