Climate Change Data

Environmental Metrics

ESG Focus Areas

• Responsible Property Investment (RPI)
• Environmental Performance
• Social Impact
• Governance

Environmental Achievements

• Cooling tower replacement completed, resulting in 45% reduction in water intensity year-over-year.
• Achieved 96% score in the 2021 GRESB Assessment (a 2-point improvement from 2020), maintaining 1st position in Asia Retail (Overall & Listed) categories.
• Secured a S$860 million sustainability-linked loan with interest rates tied to Sustainability Performance Targets (SPTs).

Social Achievements

• Completed Lendlease x WWF-SG waste study and launched the Circularity in Retail report; findings shared with government, industry stakeholders, and tenants.
• Continued engagement with tenants on waste initiatives.
• Place activation and accessibility facilitated through community and stakeholder engagement.

Governance Achievements

• Ongoing compliance with all applicable ESG-related legislations managed through LLGCTM’s legal, compliance, sustainability, and health and safety functions.
• High scores in global benchmarks and certifications achieved.

Climate Goals & Targets

Environmental Challenges

• COVID-19 impacts on business and disruptions to asset operations affecting data representativeness.
• Potential climate-related risks and opportunities.

Mitigation Strategies

• Climate-related risk assessment conducted at the asset level to identify potential physical climate risks.
• No material risks with high likelihood and severity were identified for the asset in at least the next 50 years.
• Energy and carbon external audits completed, with key energy efficiency initiatives identified and incorporated into asset business plans.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Suppliers Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRESB, TCFD, UNPRI, UNGC, RPI Policy

Certifications: ISO 14001, BCA Green Mark (Platinum)

Third-party Assurance: Independent limited assurance of energy, carbon, water, and waste data by Lendlease Global Commercial Trust Management Pte. Ltd. (LLGCTM)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Regional Sector Leader in Asia, Retail (Overall & Listed) categories

Environmental Metrics

ESG Focus Areas

• Climate Action
• Energy Management
• Waste Management
• Water Management
• Health and Safety
• Diversity and Inclusion
• Community Development and Engagement
• Business Ethics and Governance
• Data Privacy and Cybersecurity

Environmental Achievements

• Achieved Net Zero Carbon (Scope 1 and 2) emissions three years ahead of target (FY2025)
• Achieved 18% reduction in landlord energy consumption
• Achieved 14% reduction in landlord water consumption
• Achieved 20% waste recycling rate
• Maintained BCA Green Mark Platinum status for Jem

Social Achievements

• Zero work-related injuries and ill health incidents
• Zero incidents of non-compliance with regulations and voluntary codes
• Increased Lendlease Plus memberships by 15% YoY
• Four community engagements/initiatives

Governance Achievements

• Zero incidents of corruption
• Zero incidents of non-compliance with relevant laws and regulations
• Zero substantiated complaints concerning breaches of customer privacy and zero incidents of identified leaks, thefts or losses of customer data
• Sustainability-linked financing accounted for approximately 70% of LREIT’s total committed debt facilities

Climate Goals & Targets

Environmental Challenges

• Macroeconomic challenges impacting consumer spending and tenant sales
• Rising interest rates increasing borrowing costs
• Climate change posing risks of property damage and business disruption
• Waste management challenges in a water-stressed country
• Data privacy and cybersecurity risks in an increasingly digitalized world

Mitigation Strategies

• Proactive asset management, including tenant engagement and new tenant acquisition
• Implementation of energy-efficiency initiatives, renewable energy sourcing, and Scope 3 reporting
• Water-saving measures, NEWater utilization, and rainwater harvesting
• Waste reduction campaigns, food waste digestors, and recycling initiatives
• Robust cybersecurity measures and data privacy policies

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (heatwaves, droughts, urban flooding)

Transition Risks

• Market sentiment shift towards zero-carbon infrastructure
• Increased expectations for decarbonisation investment

Opportunities

• Attracting tenants seeking sustainable facilities
• Access to green financing

Reporting Standards

Frameworks Used: GRI Sustainability Reporting Standards 2021, TCFD, MAS EnRM Guidelines, UNGC, UNPRI

Certifications: BCA Green Mark Platinum

Awards & Recognition

• GRESB 5-star rating
• GRESB Regional Sector Leader (Asia Retail (Overall) and Asia Retail (Listed))
• 2023 SBR National Business Awards
• Adam Smith Award Asia 2022
• Best Sustainability-Linked Loan at The Asset Triple A Sustainable Capital Markets Awards 2022

Environmental Metrics

ESG Focus Areas

• Climate Action
• Energy Management
• Waste Management
• Water Management
• Health and Safety
• Diversity and Inclusion
• Community Development and Engagement
• Business Ethics and Governance
• Data Privacy and Cybersecurity
• Economic Performance

Environmental Achievements

• Achieved Net Zero Carbon (Scope 1 & 2) in FY2023, ahead of the FY2025 goal
• 24% waste recycling rate
• Maintained water efficiency index at the top 25th percentile in the local market

Social Achievements

• Zero work-related injuries and ill health
• Zero incidents of non-compliance with regulations and voluntary codes
• 40% female representation on the Board
• 51% female employees among the Manager and the Property Manager
• Completed four community engagements

Governance Achievements

• Established a new ESGC at the Board level
• Zero incidents of corruption
• Zero incidents of non-compliance with relevant laws and regulations
• 100% of LREIT’s new suppliers were screened for environmental and social impacts

Climate Goals & Targets

Environmental Challenges

• Increase in GHG emissions due to increased grid emission factor, higher energy consumption (landlord and tenant), and reduced onsite PV generation.
• Challenges in food waste segregation impacting recycling efficiency.
• Increased water withdrawal due to higher footfall.

Mitigation Strategies

• Plans to replace existing solar panels and install additional units starting from FY2025.
• Collaborating with F&B tenants and specialists in food waste digestion to improve segregation practices.
• Implementing water-saving measures and exploring further opportunities for water reuse and recycling.

Supply Chain Management

Supplier Audits: 100% of LREIT’s new suppliers were screened for environmental and social impacts

Responsible Procurement

• Supplier Code of Conduct
• Encouraging the use of low embodied carbon materials

Climate-Related Risks & Opportunities

Physical Risks

• Heatwaves
• Droughts

Transition Risks

• Potential increase in insurance premiums
• Tightened green building energy certifications and guidelines
• Increased carbon tax
• More stringent public disclosure requirements

Opportunities

• Increased market demand for climate-resilient and green buildings
• Growing focus for green financing

Reporting Standards

Frameworks Used: GRI Sustainability Reporting Standards 2021, TCFD, UN Global Compact, UNPRI

Certifications: ISO 14001:2015, ISO 45001:2018, Green Mark Platinum

Third-party Assurance: Limited assurance over GHG emissions, energy, water, and waste performance data for FY2024 by an independent accredited certification body in compliance with ASAE 3000 standards

UN Sustainable Development Goals

• Goal 10 (Reduced Inequalities)

Jem Accessibility Guide

Awards & Recognition

• Global Sector Leader award
• Regional Sector Leader in Asia Retail (Listed)
• 5-star rating for ESG performance
• BCA GreenMark (Platinum)
• Silver WSH Award
• Culture of Acceptance, Respect and Empathy Award
• Company of Good – 3 Hearts