Climate Change Data

Environmental Metrics

ESG Focus Areas

• Economic Performance
• Energy Efficient Operations and Greenhouse Gas Emissions
• Anti-Corruption
• Employee Engagement

Environmental Achievements

• One property had an EV charging station installed. Three more properties are scheduled to receive similar upgrades by FY2022.
• Three properties currently use LED lighting in their common areas, with LED fittings to be introduced to two more properties in FY2022.

Social Achievements

• Zero incidents of employee discrimination.
• Achieved an average of 19.5 hours of training per employee.
• Achieved 100% participation rate in the annual employee survey.
• Employees from UHREIT Singapore volunteered at Willing Hearts.
• CEO and certain employees of the U.S. Asset Manager participated in a “Night in the Cold” to raise funds for Homeless Solutions.

Governance Achievements

• Zero confirmed instances of non-compliance with anti-corruption laws and regulations.
• 100% of governance body members have been communicated to and received training on anti-corruption.

Climate Goals & Targets

Environmental Challenges

• Lack of an environmental risk management framework.
• COVID-19 pandemic and its impact on tenants and operations.

Mitigation Strategies

• Intend to implement an environmental risk management framework in FY2022.
• Established dedicated areas for curbside pick-up, allowed outdoor dining areas in car parks, disseminated COVID-19 related restrictions and guidelines to tenants, implemented Business Continuity Plan procedures for employees.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards: Core Option

Awards & Recognition

• Joint 4th in the Governance Index for Trusts (GIFT) 2021

Environmental Metrics

ESG Focus Areas

• Economic Performance
• GHG Emissions and Energy Consumption
• Training and Development
• Diversity and Employment
• Community Engagement
• Business Ethics
• Cybersecurity and Data Privacy
• Safety and Wellbeing

Environmental Achievements

• Met target of reducing common area electricity usage by 16% (excluding properties with partial year data)
• Installed EV charging stations at 13% of properties (exceeding the 10% target)
• Installed LED lighting at common areas in 39% of properties (exceeding the 15% target)
• Installed solar panel systems at 100% of remaining Self-Storage properties (exceeding the 25% target)

Social Achievements

• Maintained a strong safety record with zero fatalities and reported incidents by the Manager
• Achieved total learning hours of 348 training hours, with an average of 29 training hours per employee of the Manager
• Zero cases of known incidents of employee discrimination by the Manager
• Achieved 100% participation rate in the annual employee survey for the Manager
• Achieved 135 volunteer hours for FY2022

Governance Achievements

• Achieved zero confirmed cases of non-compliance with relevant laws and regulations by the Manager
• Achieved zero substantiated complaints or substantiated cases concerning breaches of privacy and losses of data by the Manager
• All Directors and employees of the Manager have completed relevant anti-corruption trainings
• Ranked 29th in Singapore Governance and Transparency Index 2022’s REITs and Business Trusts Category
• Ranked 12th in Governance Index for trust (“GIFT”) 2022
• Included in the SGX Fast Track for good compliance track record

Climate Goals & Targets

Environmental Challenges

• Challenging macroeconomic environment in 2022, including high inflation and rising interest rates
• Increased frequency and intensity of windstorms, such as hurricanes, could lead to property damage, loss of property value and disruption of operation of shopping centers and storage facilities
• Changes in rainfall conditions could lead to increased frequency and severity of flooding, and result in property damage, loss of property value and closure of properties
• Regulatory changes imposing additional operating and capital costs
• Increased interest among retail tenants in building efficiency and sustainable design criteria
• Reputational risk from lack of response to stakeholder preferences and failure to comply with ESG-related regulations
• Cost and resources required to transition to lower emission building and operational technologies

Mitigation Strategies

• Developing a decarbonization plan to manage climate risks and opportunities
• Adopting a two-pronged approach to GHG emission reduction: focusing on reducing operational emissions and engaging tenants to adopt energy-efficient initiatives
• Developing a strategy to address Scope 3 indirect GHG emissions
• Disclosing climate-related financial disclosures in accordance with TCFD recommendations
• Integrating climate-related risks and opportunities into UHREIT’s Enterprise Risk Management (ERM) Framework
• Exploring green financing options
• Engaging with tenants to adopt more energy efficient initiatives

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Higher Temperatures
• Rising Sea Levels
• Increase in Storms and Extreme Weather Events
• Flooding

Transition Risks

• Regulatory Regulations
• Market
• Reputational
• Technology

Opportunities

• Adoption of low-carbon technologies
• Participation in Renewable Energy Programs
• Green Financing

Reporting Standards

Frameworks Used: GRI

Awards & Recognition

• Certificate for Excellence in Investor Relations by IR Magazine Awards – South East Asia 2022