Elite Commercial REIT

Climate Impact & Sustainability Data (2021, 2022)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:54,672 tCO2e

Renewable Energy Share:0%

Total Energy Consumption:81,392 MWh

Water Consumption:147,387 m3

Carbon Intensity:52.4 kgCO2e/m2

ESG Focus Areas

Climate Change
Energy and GHG Emissions
Water
Tenant Engagement
Attracting and Retaining Talent
Employee Development
Diversity
Local Communities
Regulatory Compliance
Anti-corruption

Environmental Achievements

Completed an initial assessment of climate-related physical risks and transition risks and opportunities.
Gathered Energy Performance Data from EPC reports.
Embarked on the first sustainability collaboration with the REIT’s primary occupier, DWP, to undertake asset enhancement works across DWP-occupied assets to improve sustainability and energy efficiency credentials of these properties.

Social Achievements

Achieved an average of 32 hours of training per employee, including at least an hour of compulsory ESG training for all employees.
50% of management positions are held by women.

Governance Achievements

Zero incidents of non-compliance/corruption
Setting up of Sustainability Committee headed by the Board Chairman
Implemented internal controls as part of the enterprise risk management framework to manage regulatory compliance risks.

Climate Goals & Targets

Long-term Goals:

Net zero portfolio by 2050

Medium-term Goals:

EPC rating of B or higher for all properties by 2030

Short-term Goals:

EPC rating of B or higher for all properties by 2030

Environmental Challenges

Do not have operational control over the properties in terms of day-to-day management or utilities’ consumption.
Potential physical risks from extreme weather events and the asset’s environmental performance, including energy efficiency, carbon emissions, and water efficiency.
Stricter building energy efficiency and water efficiency regulations.
Reduced demand for carbon inefficient buildings due to changing customer preferences.
Increasing demand for climate-related and ESG disclosures.

Mitigation Strategies

Actively engage with our primary occupier, the Department for Work and Pensions (“DWP”), on sustainability issues and seek the environmental performance data for reporting.
Developing a framework to assess climate-related risks and opportunities in new acquisitions.
Adopted a target to achieve EPC rating of B or higher for all properties by 2030.
Committed to net zero portfolio by 2050.
Incorporating climate-related risks and opportunities in our due diligence as we seek to invest in new assets.

Supply Chain Management

Responsible Procurement

Adopt the Group-wide Third-Party Agent and Outsourcing Policy, which subjects service providers to stringent evaluation criteria to inter-alia address corruption risks and outsourcing risks.

Climate-Related Risks & Opportunities

Physical Risks

Increased severity of extreme weather events such as floods and flash floods
Rising mean temperatures

Transition Risks

Stricter building energy efficiency and water efficiency regulations
Pricing on carbon emissions
Reduced demand for carbon inefficient buildings due to changing customer preferences
Increasing demand for climate-related and ESG disclosures

Opportunities

Higher demand for energy-efficient buildings
Installation of solar photovoltaic (“PV”) on our assets
Higher demand for energy-efficient and green-certified buildings
Green finance
Higher demand for energy-efficient and green-certified buildings

Reporting Standards

Frameworks Used: GRI Standards – Core option, SASB Real Estate Standards, TCFD, MAS ERM, SGX-ST Listing Rules (711A and 711B) – Sustainability Reporting, UN SDGs

UN Sustainable Development Goals

SDG 6
SDG 7
SDG 9
SDG 13
SDG 5
SDG 8
SDG 16

Our approach to proactively manage the most significant ESG impacts supports the UN SDGs.

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:19,801 tCO2e/year (Scope 3)

Scope 3 Emissions:19,801 tCO2e/year