Data Sources, Processing and Limitations
To ensure the accuracy and reliability of our sustainability tracking, the MoZaïC Sustainable Healthcare Fund (MSHF) relies on a structured data aggregation framework that combines direct operational insights with recognised third-party institutional benchmarks.
Our data collection and processing methodology is built upon three core channels:
Primary Tenant Disclosures & Direct Engagement: ESG assessments are primarily anchored in the internal review of official sustainability documents published directly by our tenants. The MSHF Sustainability team supplements this documentation with ongoing, direct exchanges with tenant representatives to secure real-time operational metrics and verify data integrity.
Institutional Benchmarks & Expert Networks: To contextualise and validate our portfolio's performance, MSHF systematically leverages specialised external data sources and rating agencies. This includes global sustainability benchmarks such as GRESB, technical data from the OID (Observatoire de l'Immobilier Durable), independent expert audits, sell-side research, and verified news databases on controversies.
In-House Qualitative Analysis: Raw data and qualitative insights are processed internally by the dedicated members of the MSHF Sustainability team. This specialized in-house analysis ensures that data is accurately translated into actionable asset-level transition roadmaps and aligned with our strict SFDR Article 9 criteria.
What are the data sources used to attain the sustainable investment objective, including the measures taken to ensure data quality, how data is processed and what is the proportion of estimated data?
1. Environmental Data Sources & Technical Partnerships
Advanced Carbon & Energy Modelling: For granular carbon impact and energy assessments, MSHF has partnered with specialised technical providers in our target countries. These partners deploy advanced methodologies specifically engineered to deliver data and measurements aligned with the precise challenges of a low-carbon economy.(Socotec, PGI,...).
Climate Integration Solutions: The specialised databases and predictive climate models developed through these strategic partnerships serve as the primary technical solutions for embedding climate transition resilience directly into each healthcare asset.
Data Robustness & Verification: To guarantee absolute data integrity, the MSHF asset management and sustainability teams work in close coordination, performing rigorous internal audits to verify data quality and operational consistency before any metrics are formally ingested into MSHF’s core database systems.
2. Social Data & Community Inclusion
Inclusion Metrics: On the Social pillar, data collection focuses on tracking how our facilities actively support the most vulnerable members of society. MSHF systematically records indicators related to social inclusion, quality and care, the promotion of high-quality living spaces designed to foster positive interactions within local communities, and the measurable impact of operational programs aimed at reducing resident isolation and loneliness, with a bi-annual visit on site by experts coming from the same sector of the tenant.
3. Governance Standards & Systemic Controls
Business Ethics & Policy Adherence: MSHF operates under an overarching governance policy that mandates compliance with the highest international standards of business ethics, robust anti-corruption protocols, and strict ESG frameworks.
Systematic Verification Loops: We continuously quantify and verify the environmental and social impacts of our assets, reviewing real-time progress against our long-term objectives and reporting ESG performance transparently.
Data Challenge Mechanisms: Systematic control checks and specific, detailed analyses are routinely performed on all external ESG data with complete transparency, allowing the fund to explain any misalignment. This internal scrutiny is backed by a mandatory annual quality review executed in direct cooperation with the tenant and reviewed by external independent auditors from the ISR label, Level 2 risk auditors and S&P Assurance to maintain exceptional accuracy, MSHF remains in ongoing contact with its external data providers to actively challenge their views, baseline assumptions, and methodologies.
What are the limitations of the methodologies and data sources? (Including how such limitations do not affect the attainment of the sustainable investment objective and the actions taken to address such limitations)
MSHF’s sustainability framework is anchored in a comprehensive evaluation of the environmental, social, and governance (ESG) practices of each asset, explicitly capturing their structural compatibility with the UN Sustainable Development Goals (SDGs). However, given the current state of non-financial reporting across the European healthcare real estate sector, several structural data limitations exist.
Despite these challenges, the fund has deployed targeted internal controls ensuring that these limitations do not affect or undermine the attainment of its sustainable investment objective.
1. Identified Data & Methodological Limitations
Tenant Data Heterogeneity: The sustainability analysis relies on qualitative and quantitative inputs provided directly by our operators and tenants. While improving year-over-year, corporate ESG reporting remains heterogeneous across different jurisdictions, creating variance in primary data formats.
Operational Dependencies: Collecting granular real-time utility consumption metrics is structurally dependent on the voluntary participation and active cooperation of our tenants who hold direct operational control over the facilities.
Forward-Looking & Controversy Risks: Although our methodology incorporates forward-looking indicators to ascertain the long-term ESG quality of our assets, anticipating unforeseen external controversies remains difficult. This may occasionally require a retroactive revision of an asset's internal ESG rating.
2. Strategic Actions Taken to Address Limitations
To mitigate these data constraints and shield our sustainable investment objectives from disruption, MSHF applies three proactive safeguards:
Standardized Calculation Protocol: To eliminate data variance and guarantee absolute consistency, MSHF has engineered a mandatory, highly detailed Explanatory Calculation Note for every single ESG indicator. These precise compliance instructions neutralize interpretation risks and establish a reliable, harmonized data baseline across our entire pan-European portfolio.
Stakeholder Awareness & Data Guardrails: The fund deeply involves its ecosystem through active stakeholder awareness campaigns. By educating and co-opting tenants into our long-term carbon and social frameworks, we structurally mitigate the risk of non-representative or incomplete utility data.
Materiality Focus: Rather than diluting its analytical focus, MSHF systematically concentrates on the core sustainability vectors most likely to have a concrete, material impact on the assets and the tenants. This collaborative, high-impact approach is regularly reviewed to ensure data collection directly serves our core transition objectives.
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