EnvironmentalReport

B A R I N G S O F F I C E

ESG and Sustainability are essential contributors to the long term growth

and success of both our clients’ invested capital and of the firm itself

O U RB U S I N E S S

O U RP L E D G E

O U RC O M M U N I T I E S

71%benchmark energy consumption in ENERGY STAR Portfolio

Manager and have earned a Green Building Certification

57%were ENERGY STAR Certified in 2018

U . S . O F F I C E S

These achievements reflect Barings commitment to

benchmarking energy consumption which is an important

part of developing conservation goals. Numerous office

properties are not just benchmarking consumption but are

efficient buildings and top performers. The green building

certifications identified are third-party verified recognitions of

sustainability and wellness efforts undertaken by ownership,

property management, and occupants of a building.

Although most Barings offices are leased, the company’s

commitment to sustainability goes beyond managed assets.

100%implement energy saving behaviors including turning off

lights, powering-down computers and utilizing direct sunlight

67%implement consumable recycling, battery recycling

and toner cartridge recycling and only purchase paper

with a minimum of 30% recycled content

E U R O P E A N O F F I C E S

As a global company, Barings has offices across Europe

that are held to the same high sustainability performance

standards. These properties, like those in the US, are

implementing improvements and behavior changes to

reduce their environmental footprint.

From investing in energy management systems to

implementing recycling training, the offices are engaging

in multiple ways to make a difference. These behaviors

add up to make a big impact over time and support

Barings commitment to ESG.

W hy ESG?E N V I R O N M E N T A L , S O C I A L A N D G O V E R A N C E ( E S G )

The incorporation of environmental,

social and governance (ESG) aspects

into business practices and decisions is

extremely important to Barings and our

investors. Our corporate commitment to

ESG also extends beyond our real estate

assets; it is also important that properties

in which Barings hosts offices implement

ESG programs. Some of the ways in

which properties and offices implement

sustainability are highlighted in this report.

H E A D Q U A R T E R S

Perhaps one of the buildings that is most

reflective of these values is the Barings

global headquarters in Charlotte, North

Carolina. Completed in 2017, the property

earned a LEED BD+C: Core and Shell

v3 Gold certification. In addition to this

prestigious sustainability recognition, the

property will pursue LEED for Existing

Buildings in 2019. Occupying 11 of the 25

floors, the property hosts engagement

meetings and building-wide community

events to connect all tenants to Barings

broader sustainability goals. Our London

headquarters BREEAM ‘Excellent’ rating,

falling within the top 10% of U.K. new non-

domestic buildings and an environmentally

recognized best practice leader.

G L O B A L C O M M I T M E N T

Barings recognizes that by having a global

footprint, ESG practices must be prioritized.

Focusing on the global sustainability

footprint of investments and offices is

essential to be a good steward to both the

environment and in local communities.

From Boston to Berlin, implementing

robust conservation measures and

behaviors will continue to be a priority.

T R A C K I N G G R E E N H O U S E G A S E M I S S I O N S E N E R G Y S T A R

PropertyProperty SiteEUI (kBtu/ft2)

Barings OfficeArea (ft2)

Estimated Usage for

Barings Space

EstimatedCO2 EE

(Metric Tons)

300 South Tryon Street, Charlotte, NC 27.5 286,644 7,882,710 1,634

One Marina Park Drive, Boston, MA 67.8 4,405 298,659 62

2001 Pennsylvania Avenue NW, Washington DC 52.8 3,954 208,771 43

B A R I N G S O F F I C E S W I T H G R E E N B U I L D I N G C E R T I F I C A T I O N S

PropertyGreen Building

CertificationENERGY STAR Certification

ENERGY STARScore

470 Atlantic Avenue, Boston, MA BOMA 360 Certified 88

One Marina Park Drive, Boston, MALEED NC Gold LEED

O+M in Process

1500 Main Street, Springfield, MA BOMA 360 Certified 78

2001 Pennsylvania Avenue NW, Washington DC Certified 75

300 South Tryon Street, Charlotte, NC LEED C&S Gold

111 South Wacker Drive, Chicago, IL BOMA 360 Certified 85

340 Madison Avenue, New York, NY Certified 94

157 Church Street, New Haven, CT Certified 83

5000 Birch Street, Newport Beach, CA LEED O+M Gold Certified 92

1901 Harrison Street, Oakland, CA Certified 98

20 Old Bailey, London, U.K. BREEAM Excellent*

Four of the listed properties are required to comply with local or state benchmarking ordinances, they are earning additional recognition by implementing conservation practices at the building level. ENERGY STAR certification is based on annual building performance. The designation shows that a building is in the top 25 percent in energy performance compared to other office buildings across the U.S. and Canada.

*BREEAM assesses an asset’s environmental, social and economic sustainability performance, using standards developed by BRE. This means BREEAM rated developments are more sustainable environments that enhance the well-being of the people who live and work in them, help protect natural resources and make for more attractive property investments.

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IMPORTANT INFORMATION

Any forecasts in this document are based upon Barings opinion of the market at the date of preparation and are subject

to change without notice, dependent upon many factors. Any prediction, projection or forecast is not necessarily

indicative of the future or likely performance. Investment involves risk. The value of any investments and any income

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set forth in this document are provided for illustrative purposes only and are not indicative of any future investment

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of investments. Prospective investors should read the offering documents, if applicable, for the details and specific risk

factors of any Fund/Strategy discussed in this document.

Barings is the brand name for the worldwide asset management and associated businesses of Barings LLC and its global

affiliates. Barings Securities LLC, Barings (U.K.) Limited, Barings Global Advisers Limited, Barings Australia Pty Ltd, Barings

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Sarl, and Baring Asset Management Korea Limited each are affiliated financial service companies owned by Barings LLC

(each, individually, an “Affiliate”).

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Barings is a $325+ billion* global financial services firm dedicated to meeting the evolving investment and

capital needs of our clients and customers. Through active asset management and direct origination, we provide

innovative solutions and access to differentiated opportunities across public and private capital markets.

A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment

professionals located across North America, Europe and Asia Pacific.

19-886687

*As of June 30, 2019