As a signatory of PRI (Principles for Responsible Investment), the climate change management associated practices will be strengthened
Mexico City, Mexico, 11 August, 2021 – Corporacio?n Inmobiliaria Vesta, S.A.B. de C.V. ("VESTA" or the “Company”) (BMV: Vesta), one of the leading pure-play industrial real estate companies in Mexico, announces the Company will participate from August to November 2021 in the LatAm Investors Climate Initiative (ICIL), as signatory of PRI (Principles for Responsible Investment, an international investors organization sponsored by United Nations). The initiative will offer 5 formative spaces that will become a route map to strengthen associated practices of climate change management.
Public support to the Paris Agreement.
Public support to Taskforce on Climate-Related Financial Disclosures.
Identification of climate change risks and opportunities.
Use of scenario analysis for climate change management.
Definition and communication of metrics to monitor climate change.
Since 2018, PRI has supported her signatories in Latin America to develop and strengthen their integration of Environmental Social and Governance practices in their investment decisions. With this initiative, PRI is looking to step forward to help signatories in the region to generate impacts in the real world, while considering climate change strategically in their investment processes.
Head of ESG / firstname.lastname@example.org / M. 55 7858 0524
With the sustainability leadership award
Obtaining an international recognition for a task to which all the team contribute in Vesta, fills us with pride.
Ecovadis, a leader in sustainability ratings, has recognized Vesta, awarding our excellence in Sustainability and naming us Best Performer Latin America and the Caribbean in the EcoVadis Sustainability Leadership Awards dedicated to Small and Medium Enterprises.
This award recognizes companies that are leading the charge in sustainability practices and innovation around the globe. Awards are based on the EcoVadis CSR assessment score, comprised by 21 indicators that comprehend four aspects: environment, fair labor and human rights, ethics and procurement of sustainability.
Laura Ramírez, responsible for the Sustainability efforts in the company, said when receiving the award on March 11th: "I am honored to represent the team at accepting this recognition. At Vesta we are aligned to our Education, Inclusion and Community pillars to leave a positive print in the communities where our developments operate. I am grateful with all those who collaborate, including the organizations that execute our programs, present in all the regions where we have buildings."
This prize adds up to other recognitions as the WorldCob certification, and the ratings by GRESB, CDP, and the Mexican Stock Exchange Sustainability Index.
Ecovadis has its headquarters in Paris, covering 190 sectors of companies in 150 countries, with 500 professionals of more than 50 nationalities.
Organizations, like people, need to stay fit
Let's start by defining what a process is: in simple words, it is the set of steps that we determine are necessary to reach a goal. To make a process optimal, generally we priorize, eliminate, order, combine, and simplify the steps. In this way, we make of a process an ally in our daily work to fulfill our goals successfully. However, sometimes we believe that processes are bureaucratic burden, and not a tool to facilite and improve our delivery.
To approach processes correctly, so they become a tool to keep us fit in an organization, it is necessary to think about their relevance.
When is a process relevant to an organization?
-If we want to stay competitive
As Harvard Business Review published, a process is relevant when we want to be consistent and trustworthy in our products and services. This doesn't mean that all processes must be updated continually: the critical ones are those that make possible an impeccable delivery, especially in the strategic points of contact with our clients.
-When innovation is core to success
Processes are better perceived by people in manufacture, finance and operations, as those areas emphasize consistency, trust and efficiency to achieve results. On the contrary, people in sales and marketing, as well as in service, fulfill tasks that are based primarily on social relations. Therefore, they don't usually welcome processes with much enthusiasm.
However, when all departments are involved in processes related to innovation, synergy is created to generate a creative culture among all employees, providing with clear directions. Companies with a high innovation component, such as Dupont and Pixar, have established innovation, creative, and collaborative processes with excellent outcomes.
-To give organization and order to continuous change
In very dynamic sectors or companies, change and transformation are necessary. Adapting to them is not always easy. According to a study by McKinsey, in these scenarios, middle management require to exercise control over certain tasks, as well as achieving measurable milestones and providing feedback. Clear, assessable, and flexible processes are great tools for them.
Processes are core for quality management and continuous improvement. Why not daring to use them to be competitive, innovative and adapting to never-ending change?
Changes and transformation already undergoing by Luis Miguel Beristain for Vesta
The key question for Mexico is how to capitalize on the new technology and services that are leading the digital transformation of manufacturing aimed at consolidating a new industrial platform for the world. The discussion should not be limited to the development of smart products, smart equipment, and smart factories. Looking beyond the obvious, the challenge is how to take advantage of the disruption and assume leadership in the organization of 4.0 clusters in order to respond effectively to the industrial challenges by integrating the facilitation of global value chains, promoting borderless cooperation, fostering inter-regional investment, and upgrading training and necessary human skills.
Without underestimating the indispensable elements for developing a region's industrial capacity, smart facilities and buildings of the future take on particular relevance. Their proper integration underlies attracting, creating and renovating the fourth-industrial-revolution businesses. The Internet of All, the growing interest in energy consumption, energy conservation, and ecological footprint are new demands to be added to the requirements of specialized facilities, along with energy supply, compressed air, cooling towers, thermostats, and dust monitors, to mention just a few.
Imagining success in our future, we will build together Industry 4.0 in Mexico
As there is no way to prevail if we don’t transform ourselves to face a completely different world, in an absolutely changing era, we wrote a book that analyzes industrial evolution culminating in Industry 4.0, its effects on manufacturing and logistics, its manifestations in five of the main industrial sectors in Mexico, and how Vesta has participated, continues to, and will participate in these global changes of a scope that we can barely begin to surmise.
In the world in constant evolution we are all experiencing today, there is a legitimate concern for the consequences of the fourth industrial revolution based on the digitalization of operations in the universe of economic activities. No branch of the economy can escape the impact of the digital revolution: from procuring input to marketing the end goods and services, not to mention the role of workers whose expertise and its application will be more important than their physical effort; the recycling of materials and waste; truly smart plants and equipment in the sense that they will have the capacity to learn; innovative transport systems and logistics, and other innovative areas beyond our wildest imagination today.
Although the catalysts of this evolution will come from the transformation of economic agents in the various branches of activity, the redefinition of business relations and their models, new distribution and sales channels, the reconfiguration of productive systems, the use of information, and a new way of investing in brand names, the industrial parks will necessarily have to adapt to create an environment ripe for the change.
Instead of waiting to see what will happen, in Vesta we are presenting you with a platform from which to face a future that is both challenging and promising. Innovating Mexico’s Industrial Platform, Smart Parks for Industry 4.0 also invites you to bet for the country’s modernization and innovation to become one of the most relevant actors in the future of industry, and make of Mexico an alluring economy in a changing world.
If you want to participate in the challenge, buy our book in Kindle, Amazon. It will certainly catch you.
Vesta has sponsored an art project to reinforce even more the cooperation between the twin cities, Tijuana and San Diego, with the participation of 700 children, 3 locations for the exhibition, and 12 co-sponsors and strategic allies. During 8 months, on both sides of the border, collaboration, team work and freedom were promoted in order to continue with the successful development of the CaliBaja Region.
Birds without Paradise was originally conceived by the Oaxacan artist Manuel Molina, to raise awareness about birds trafficking. The initiative is about the creation of wooden birds covered with corn husk and painted in intense colors. Vesta adopted the project, transforming it into a binational program with wide participation of the industrial real estate sector, organizations, authorities and school organisms from both cities.
The artist himself worked with the 350 Mexican children from the 12 schools involved under the coordination of the Education Department of Tijuana, and trained the art teachers that worked with the 350 American children from the 10 schools sponsored by San Diego School Unified District.
The bird exhibitions were the highlight of the program in 3 locations: Calle 2ª in downtown Tijuana, CBX bridge, in November, 2018; and Liberty Station, San Diego, in January, 2019.
Vesta expresses its gratitude towards the donations, volunteering, coordination, and organization by its strategic allies: Sentre, Hermosillo & Asociados, Seica, Ware Malcomb, Joe Smith, Smart Border Coalition, NTC Foundation & its Arts District, RLJonesCustomHouse, San Diego Unified School District and Tijuana’s mayor and his staff.
The success of the program was reflected in the children’s happiness during the creation of the birds, but above all, in their first art exhibition, sharing Manuel Molina’s artistic generosity. They inspire us to create a better future through collaboration and team work, to dream big and to fly in freedom.
The damages caused by the 19S earthquake were too many. Children don't have to suffer the consequences.
Last September 19, one of the most extensive damage caused by the earthquake was the one suffered by school buildings. Almost a year from the seism, the Mexican Institute for Competitiveness informs that 2,916 buildings have not been attended, 14.5% of which are damaged.
Such is the case of the primary school Josefa Ortiz de Domínguez, located in the community of Chiquixpac, in Santiago Tianguistenco, a township of 300 people.
The school, that before the earthquake had 170 students, 7 classrooms, 1 media room, the principal’s office, space for physical education material, a dining room and kitchenette, and space for bathrooms. After the earthquake, the number of students decreased to 158, 20 of whom have special needs as they have some sort of intellectual handicap.
All the spaces were destroyed during the seism, except for the media room. The school was disabled, but the parents stood for it. With their own resources and labor, they built 6 wooden rooms with plate roofs, achieving to make of the school the first one to open in the whole municipality.
Why help them? One of the lines of action of our Responsible Citizenship pillar is the development of communities, in order to give people of small communities a better life conditions and an opportunity for social mobility. This line of action has taken us to build houses or schools in the past. Our mission today is much more ambitious.
We have invited clients and suppliers to join us in the task of rebuilding this school so children may have the necessary infrastructure to be able to learn and develop their skills adequately. Do you want to participate with labor, material or a money donation? Write to email@example.com
We believe that this community deserves a better chance, and that the future of children is more important than anything else.
"Great opportunities to help others seldom come, but small ones surround us daily." Sally Koch
In Vesta, we are part of the communities where we operate. That is why we look to create a dialogue with our groups of interest through collaboration projects, recognizing their needs as development possibilities.
As part of our program Vesta Adopta una Escuela, last April 14, we started our volunteering program in Ciudad Juarez school Othon Martinez Lara and Alfonso Hernandez Perez, with the help of 12 suppliers, TPI Composites and families of the students, benefiting 700 children.
In the event, activities that were realized were: restoration of schoolrooms and common areas, as well as fixing of the electricity network. More than 300 thousand pesos were donated in workforce and in-kind contribution.
With activities like this, in alliance with our groups of interest, we improve the lives of the people of communities adjacent to our developments.
We invite you to follow this series of posts, inspired on the guide "A year of living better" from the NYT, where we share advice on how to live plentifully and/or work more productively.
Did you know that not only artists are creative people? We all own the potential of creativity in ourselves. Exploring it may help you to live a plenty life and make your working hours more productive and innovative.
Just consider this: sometime during your day, your mind slips away and starts imagining: what I could have said in such a situation; what I would do if I were a millionaire, for example. These are the ideas or the seed that may breed into a literary or musical project, or the genesis of how to improve a process at work.
However, it is easy to get rid of these ideas. If you want to be more creative, start by letting yourself go into the flow of what your mind is trying to tell you when you imagine. Give yourself permission to find your creativity: not all creativity leads you to an artistic work, nor it is called creativity maybe… It may be called innovation and may change what you contribute with to a work project, or it may become your mission in life, or change the global circumstances you despise. You may propose a new savings plan at work that came from that crazy idea you had during a boring meeting, or reorganize your routines and liberate yourself from things that rob your time, or create a plan to become an entrepreneur.
The important aspect of it all is to believe in your ability of CREATING, allow yourself to do it, and actually do it. So, you must start with knowing that you can. We all can, but not all of us do it. Start doing it today: believe in yourself and create a life that is fuller through the exploration of your creativity.
#innovating #innovesteam #well
Today, global warming is a problem that affects all living beings on the planet...
...therefore involving and increasing actions from governments, organizations, private sector and other institutions to stop it and mitigate its effects, each actor from its own stand-point.
All of us can contribute with small changes in our daily activities, helping our environment and communities. Here you will find some tips to transform your house into a sustainable place:
Practicing some of this advice, aside from contributing to the well-being of the planet, you will save money.
If you were born between 1981 and 2000, you have heard, for sure, common not-so-nice phrases such as "millennials don't do things carefully", "they don't believe in commitment"
And if you are a millennial, you have something to say about it.
The millennial generation work smoothly with technologies, are always worried about making community, are creative and in search of innovation. Regarding Social Investment and Sustainability, they are considered the first generation with environmental conscience, and they are powerful social agents of change. Also, they don’t believe that governments shall deal by themselves with such responsibility, so they look for the involvement of companies to produce the changes, with them participating as well. In general, they are a generation that is not so interested in money, but its main goal is to build a sustainable world that is good for everyone and that generates a positive change in the society.
The millennials prefer to guarantee a fair deal with their suppliers, development of products and innovative services, that generate positive impacts in clients/consumer, and that guarantee the future of the companies where they work. At the same time, they find the impact that being in a company with bad image and other negative aspects related to the lack of environmental and social strategies, to be very important.
Due to these factors, the financial affairs of the companies are not the only issue that new investors of this generation consider. Now, companies or funds with social or environmental objectives are becoming more relevant. Considering this, the Morgan Stanley Institute for Sustainable Investment, establishes that by 2050, the opportunities of business for companies with sustainable focus could be between 3 and 10 billion dollars per year, representing 4.5% of the global GDP.
In general, as we have seen, the millennials are a generation with greater social and environmental conscience, and for that reason, they are looking forward to working in companies that have the same conscience. According to research by Universum Global, by 2020 this generation will represent 50% of workers and by 2025, they will become 75% of the total labor force. For that reason, they are a great driver to trigger initiatives in all sectors, and they even incorporate sustainable behaviors into their lifestyle.
We invite you to think about these issues. As a generation X member said: “I am a millennial as well, because a big chunk of my life has happened in this new millennium and I share most of the ideals of the youngers, as well as important aspects of their lifestyle.” In relation to Sustainable Development, we shall all be millennials.
When we talk about the benefits of having a responsible and sustainable management in our company, we have to ask ourselves: is our sustainability strategy aligned to our core business and is it included in our business strategy?
If the answer is yes, this means that we will have internal and external impacts in each of the areas of the business. Some of these benefits are:
Communication and PR
These impacts could be positive or negative, depending on the way in which we implement the management, but, above all, on the way in which we monitor and report our activities, increasing in that way the levels of transparency and accountability of the company.
Recycling and reutilizing are extremely important in order not to exhaust our natural resources, but above all, to avoid continue polluting our water and land.
Recycling and reutilizing are extremely important in order not to exhaust our natural resources, but above all, to avoid continue polluting our water and land.
In spite of the signature of the Paris Treaty, and many other international agreements that are trying to diminish the impact of climate change, pollution is growing and unfortunately, it is causing more deaths by the year.
The situation is so bad that, did you know that pollution causes more deaths than the casualties of war and violence?
Sadly, this is completely true. According to the medical journal The Lancet, one of six premature deaths in the world is due to illnesses derived of toxic exposition. The economic cost of these deaths, illnesses and social assistance is of 4.6 billion dollars in annual losses, which represents 6.2% of the global economy.
The problem with this kind of illnesses is that governments don’t allocate resources to them as they do to AIDS or cancer, as it is not considered a public health issue. On the other hand, people don’t identify it as a problem.
We still have much to do globally, as there are regions in some continents as Africa where there are not even monitoring of air pollution.
Soil contamination has affected human health, due to the potential toxins that are still being ignored. In India, for example, one in each of 4 deaths is related with pollution.
For all these reasons, I invite you to use the 3Rs: Reuse, Recycle and Reduce.
Culture is what shapes our identity and is part of our being.
Based on this definition, and adding our understanding of sustainable development, you must be asking yourself: what do they have in common? They both share the same objective: provide to the future generations with our knowledge as human beings. Also, culture becomes a facilitator and drive to the economic, social and environmental dimensions of sustainability./p>
In the context of the culture we find that stories work to build the links and beliefs that a society have in common, originating national identity, better known as tradition. On the other hand, environment is what gives life to people, people bring alive traditions, and these keep alive culture among peoples.
Along time, the important role that culture plays in sustainable development has become visible, as it promotes economic growth at the individual and collective levels. At the same time, culture is key to create adaptations and increase the capacity of resiliency of the socio-ecological systems.
In our country, the traditional Day of the Dead celebrates the people that have already departed. The origins of the celebration come from the pre-hispanic times, when the Mexicas, Mayas, Purepechas, Nahuas and Totonacas preserved the skulls as trophies and showed them during rituals that symbolized death and rebirth.
When the Spaniards arrived, they changed the pagan practices of the indigenous people in an attempt to convert them to Catholicism, moving the dates of rituals to the beginning of November, so that they could coincide with the Catholic festivities of Day of All Saints and All Souls, combining them with the Halloween traditions (Samhain pagan ritual – Celtic day of the dead banquet).
Traditions such as these are the ones that will help us to defy the challenges that several parts of the world face in the economic and social aspects, where culture must play an important role in the construction of inclusive societies, quality education, more social wellness and gender equality.
If we compare the amount of garbage produced in the world though history, in the last 40 years we have produced more garbage that during all history of mankind up to 1970
What is the garbage we produced today composed of? 45% organic material, 22% paper and paperboard, 10% plastics, 7% glass, 4% metal, 2% tetrapak, and 10% other waste.
Why is it important to recycle?
With time, the responsible consumption of water has become more relevant. Here, some interesting data about water:
It is needless to say: without water, we cannot survive; therefore, we must be conscious of the relevance that it has in our lives and make more efforts to save it.
It is essential that each of us saves water. Its waste per person is too high.
First industrial real estate developer to get WELL certification in their corporate offices in Mexico City, as well as being the first to obtain level GOLD in Mexico
If we consider topics such as climate change or inequality, the most probable answer is no. However, according to several reports on technology and health progress, the world is indeed improving…
However, we face simultaneously many challenges, among which we find:
For these reasons, among others, during the last years there has been a huge growth in the companies that implement strategies to create sustainable development in their business plans and relationships with their groups of interest.
There are three main aspects to consider when looking for success in the promotion of a sustainability agenda in the organizations:
When we communicate the company initiatives, we can reach all the audiences that are looking for a responsible consumption, and work with organizations with best practices. Did you know that according to Citizens Engage, 42% of the current consumers prefer products that have social commitment?
To succeed in this, it is necessary to map all the interest topics that involve each of the audiences and define the way to deal with them.
Finally, when communicating the practices of our company, we motivate other companies to implement in their business models their sustainability practices.
Stakeholders are audiences that affect an organization and its environment
Have you heard about “groups of interest”?
Groups of interest are the audiences that impact an organization and its environment.
Time ago, it was very common that the companies looked only for their own benefit, with themselves at the center of economic interest and utilitarian objectives. As time has gone by, it has become more relevant to include new actors and establish new game rules between the organizations and their groups of interest.
Currently, people have become more conscious of the way goods and services are produced, the relationship between suppliers, their environmental behavior and the way the talent is managed inside the companies. All these factors influence the consumers’ decisions to use and above all, to buy, goods and services.
But, do you know exactly who are the groups of interest and what relation they have with our company?
According to the Mexican Stock Exchange Guide of Sustainability, the groups of interest are the set of people that direct or indirectly impact the activity of an organization, and they can represent social or environmental interests, having the capacity to positive or negatively affect the results of a company.
When we identify these audiences, understanding their needs and expectations, we are able to incorporate them to the sustainability strategy of the diverse areas of the organization and its environment. Also, this helps companies to measure the social and environmental impacts, to identify opportunity areas in order to reduce risks, to improve corporate reputation, and even to create new business opportunities.
Groups of interest have great impact and relevance in the operation of a company, and an organization is capable of functioning thanks to its audiences. Among these groups, we can identify for Vesta: suppliers, clients, employees, strategic partners, investors, communities, authorities, opinion leaders, analysts and bankers, among many others.
Finally, how would you consider that these groups of interest may impact – positively or negatively - the results of Vesta?
Sustainable development consists of production, consumption and investment habits that allow the current and future enjoyment of material, social and environmental conditions for a good quality of life.
First, it is important to understand the term used by the companies, known as “triple bottom line”. This term encompasses the three values used to measure success and sustainability of an organization, where social and environmental elements are incorporated to the traditional business vision. It refers to the need of valuing the management of a company through three master indicators: people, planet and profit.
How is this related to Sustainable Development?
According to this approach, the Brundtland Report establishes the definition of sustainable development as: “the satisfaction of current needs without compromising the needs of future generations”.
For that reason, in 2005, at the World Summit on Social Development, three priority topics were established for the world sustainable development:
• Economic Development
• Social Development
• Environmental Protection
It is very common to believe that these words mean helping "poor or needy people" with in-kind or financial donations, or even to believe that participating on replanting trees is what it is.
However, this concept goes beyond and it embraces every aspect of an organization. Broadly speaking, sustainable development covers aspects related with:
• The management of the corporate government through transparency and accountability
• Generating social, financial and environmental issues as result of the common practices of a company;
• The direct and indirect influence that the organization may have on their interest groups, such as: suppliers, clients, employees, strategic partners, investors, community, and others;
• Fulfilling prevention/help measures to respond to impacts that may come into play in the results and operations of the company.
So then, what is Sustainable Development?
According to the Multilateral Investment Fund (MIF), it is defined as the change process through which we achieve a situation in which the production, consumption and investment habits allow that people, currently and in the future, enjoy of the material, social and environment conditions that permit them to have a dignified existence and better life quality.
Corporacion Inmobiliaria Vesta, S.A.B. de C. V. (BMV: Vesta) completed several financial operations totalling US$400 million.
The transaction involved the repayment in full of its debt obligations with The Blackstone Group including the reversion of 48 properties that guaranteed the credit.
Additionally, Vesta completed a secured 10-year non-recourse loan with Metropolitan Life Insurance Company (MetLife) and the execution of a guaranty trust agreement.
The team that participated in the operations were:
Have you heard about circular economy? How can it be related to industrial parks?
The circular economy is a way of restoring and regenerating the production system, opposite to the linear economy model in which we produce taking resources, using the goods, discarding them and then consuming again new goods using raw material and energy that usually are not renewable.
Without doubt, the linear model is reaching its limits.
The Virtuous Circle Report of the Tearfund Foundation, has reached the conclusion (through case studies of waste-to- energy and resources efficiencies), that the circular economy applied to waste management improves levels of life through:
Nowadays, this is an almost non-existent sustainability discourse. However, we could incorporate this alternative growth model to protect the planet inside the industrial parks. How? What about creating alliances between different organizations that are located inside them? One model that has worked in the automotive industry (in Africa) is the re-manufacturing and repair of parts. How do you envision that the circular economy could work for industrial parks? Please comment in our social media./p>