Golden Ventures Leasehold Real Estate Investment Trust
Climate Impact & Sustainability Data (2023-10 to 2024-09)
Reporting Period: 2023-10 to 2024-09
Environmental Metrics
Total Carbon Emissions:11,019 tCO2e/year
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Reduced GHG emission by 27% from 2019 (baseline year) to 11,019 tonCO2e in 2024.
- GHG emission of the REIT’s buildings decreased by 12% from 2023 to 2024.
- Improved tools and equipment within the building, leading to increased energy saving.
Social Achievements
- Organized a campaign during Pride Month to promote gender diversity.
- Invited everyone to participate in the International Women’s Day Giveaway Campaign.
- Consistently cooperated in organizing blood donation drives.
- Donation campaign for unused items to provide educational opportunities for underprivileged children.
Governance Achievements
- Participated in GRESB assessment for four consecutive years.
- Obtained a higher GRESB assessment result than the previous year (81 points in 2024 vs 78 points in 2023).
Climate Goals & Targets
Long-term Goals:
- Reduce GHG emissions from 8,046 ton CO2e in 2030 to 3,660 ton CO2e by 2050 (55% decrease from 2030).
- Net-Zero Carbon emission by 2050
Medium-term Goals:
- Reduce GHG emissions from 14,995 ton CO2e in 2019 (base year) to 8,046 ton CO2e by 2030 (46% decrease).
Short-term Goals:
- Reduce GHG emissions by 25% from the base year’s 14,995 tonCO2e within 2025.
Environmental Challenges
- Increasing office rental space supply intensifying competition and potentially impacting rental rates.
- Shifting office rental market from landlord to tenant dominant market.
- Risks from possible loss of important tenants.
- Compliance with environmental legislation.
- Changes in work styles (work from home/hybrid) impacting leased space demand.
- Political uncertainty.
- Climate change impacts (extreme weather, rising temperatures).
Mitigation Strategies
- Developed market strategies to retain quality tenants and attract new ones.
- Implemented property improvement and development projects (AEI) in 2024.
- Upgraded technology and facility amenities for tenants.
- Prepared competitive strategies to maintain occupancy rates.
- Strict compliance with environmental legislation.
- Developed operational plans to achieve objectives and maintain occupancy rates.
- Initiated a plan to closely monitor tenants’ situation and prepared for flexible office space rental management.
- Stipulated emergency plans and working plans to prepare for political risks.
- Improved buildings’ equipment and physical characteristics to reduce energy use.
- Developed a Net-Zero Carbon Roadmap by 2050.
Supply Chain Management
Responsible Procurement
- Sustainable Purchasing/Procurement – monitor policy and ESG project of service providers/distributors
- Sustainable Purchasing/Procurement – establish ESG goal for service providers/distributors
Climate-Related Risks & Opportunities
Physical Risks
- Floods
- Heatwaves
- Cold waves
- Cyclones
- Rising global average temperature
- Sea level rise
- Droughts
Transition Risks
- Non-compliance with environmental laws
- Stringent ESG regulations (carbon tax)
- Technology risks related to CO2 reduction
- Market risks (competitors with strong sustainability practices)
- Reputation risks (lack of ESG compliance)
Opportunities
- Resource efficiency (energy and water conservation)
- Renewable energy adoption
- Development of sustainable products and services
- Access to new markets
- Building resilience along the supply chain
- Maintaining future asset value
Reporting Standards
Frameworks Used: GRESB
Certifications: LEED
Sustainable Products & Innovation
- Green Fit-out guides
Awards & Recognition
- ASEAN Energy Awards
- Thailand Energy Awards