Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate change mitigation
• Community impact
• Governance integrity

Environmental Achievements

• Developed comprehensive climate resilience plans to identify and manage physical risks across the portfolio
• Upgraded to LED lighting in communal areas, sub-metering air conditioning usage, building automation systems, and heating optimisations to reduce emissions
• Facilitated the installation of electric vehicle charging points to support decarbonisation
• Deployed 10 green leases at the end of September 2023

Social Achievements

• Supplier contracts allow for cost-of-living adjustments
• Facilitated community initiatives such as lighting buildings for International Day of Persons with Disabilities and enabling charities to fundraise in reception areas

Governance Achievements

• Developed and adopted a new ESG policy during the year
• Three adhoc ESG meetings this year prior to the board meetings. The annual strategy meeting incorporates evaluation of ESG matters
• Board members participate in select training opportunities on relevant ESG topics

Climate Goals & Targets

Environmental Challenges

• Increased costs for utilities, maintenance, and property enhancements
• Failure to keep up with evolving energy efficiency standards
• Shifting investor and tenant sustainability preferences
• Lack of action on social initiatives
• Evolving regulatory requirements around sustainability reporting and certifications
• Insufficient transparency in ESG performance
• Weak supply chain oversight exacerbated by ESG factors
• Coastal and island properties face climate circumstances which could potentially impact its business prospects and financial performance
• Transitional climate policy and legal risks may arise as Island governments implement more regulations and tighter standards to meet net zero emissions targets
• Market transition risks resulting from investors and tenants increasingly factoring climate impacts and corporate greenhouse gas emissions into their decision-making processes
• Reputational risks if it is publicly perceived as not taking sufficient climate action

Mitigation Strategies

• Integrating ESG factors across its portfolio and operations
• Improving buildings’ energy efficiency and reducing Greenhouse Gas Emissions through fixture enhancements
• Requesting details of suppliers' green initiatives during tendering
• Developing comprehensive climate resilience plans
• Investing to make buildings more resilient to physical climate impacts
• Focusing on governance measures including binding service providers to industry standards and undertaking robust supplier due diligence
• Proactively meeting evolving regulatory requirements around governance
• Conducting a detailed assessment of physical risk (e.g., coastal/pluvial flooding) and transition risk (e.g., policy/market risks)

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Requesting details of suppliers' green initiatives during tendering

Climate-Related Risks & Opportunities

Physical Risks

• Coastal/pluvial flooding

Transition Risks

• Policy/market risks
• Increased energy regulations

Opportunities

• Accessing green financing options and sustainability-linked loans
• Meeting the growing occupant demands for sustainable office space

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed