Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• SGX Centre attained BCA’s Green Mark Platinum certification.
• Met sustainability performance targets and achieved interest rate discount on inaugural $200M sustainability-linked loan secured from UOB and DBS Bank.
• Secured a total of $400M of sustainability-linked loans in March and December 2021.
• Stamford Court awarded 2nd Runner Up in Energy Efficient Building (Retrofitted Building) category of the ASEAN Energy Awards 2021.
• SingLand signed the Built Environment Embodied Carbon Pledge.

Social Achievements

• Launched a fresh Vision and Mission in 2021 to underscore the Group’s ESG-first approach.
• Continued support for migrant workers through collaboration with SDI Academy and partnership with Covid-19 Migrant Support Coalition.
• Supported Project Dignity.
• Placed mental wellness at the forefront through initiatives and programmes aimed at bettering the emotional, psychological and social well-being of staff.
• Re-employed 25 retiring employees.

Governance Achievements

• Secured $100M Green Loan for Singapore Land Tower Asset Enhancement Initiative.
• No incidences of regulatory non-compliance with socio-economic or environmental regulations in 2021.
• No confirmed legal cases of corruption brought against SingLand or its employees in 2021.
• No legal actions for anti-competitive behaviour, anti-trust, and monopoly practices against SingLand in the reporting period.
• No incidents of non-compliance with Singapore’s PDPA in 2021.

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic continued to be challenging for businesses and tenants.
• Climate-related risks linked to lost business opportunities, regulatory exposure, more stringent building design rules, carbon pricing and taxes, water stress, physical risk to assets, employee health and safety, and reputational risk.

Mitigation Strategies

• Continued support for commercial office and retail tenants.
• Reviewed Covid-19 protocols, adapting to safe management guidelines and transitioning to a hybrid pattern of working.
• Plans to carry out an in-depth climate risk study including a climate-related scenario analysis.
• Asset enhancement initiative for Singapore Land Tower designed with sustainability in mind.
• Implemented robust Environmental Management System (EMS).

Supply Chain Management

Responsible Procurement

• Green procurement policy
• Use of certified environmentally friendly products

Climate-Related Risks & Opportunities

Physical Risks

• Rising sea levels
• Rising air temperatures

Transition Risks

• Lost business opportunities
• Regulatory exposure
• More stringent building design rules
• Carbon pricing and taxes
• Water stress

Opportunities

• Growing market for green office and retail spaces
• Reduced operating costs
• Enhanced access to capital through green financing instruments

Reporting Standards

Frameworks Used: GRI Standards: Core Option, SASB Real Estate Sustainability Accounting Standard, TCFD recommendations, GHG Protocol Corporate Accounting and Reporting Standard, UN Sustainable Development Goals (SDGs)

Certifications: ISO 14001:2015 (West Mall), ISO 9001:2015 (UICT), ISO 45001 (main contractors for AEI projects), bizSAFE Level 3 (Marina Square, UICT), bizSAFE Level Star (facility management services provider for UIC Building)

Third-party Assurance: Deloitte & Touche LLP

UN Sustainable Development Goals

• Not disclosed

Awards & Recognition

• ASEAN Energy Awards 2021 (Stamford Court)
• International Property Awards (Asia Pacific) 2021 (The Watergardens at Canberra, Clavon)
• PropertyGuru Asia Property Awards Singapore 2021 (Clavon)
• EdgeProp Singapore Excellence Awards 2021 (The Watergardens at Canberra)

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• 7 out of 9 Singapore commercial and retail buildings achieved Green Mark Certification
• Singapore Land Tower received BCA’s Green Mark Platinum certification
• The Gateway obtained the BCA Green Mark Platinum certification
• Stamford Court was awarded BCA’s Green Mark Platinum (Super Low Energy) certification

Social Achievements

• Donated $185,000 to support underprivileged communities
• Partnered with social enterprises – Foreword Coffee and Bizlink who employ persons with disabilities
• 500 volunteer hours to elevate communities
• Launched SingLand Elevates and SingLand Inspires initiatives

Governance Achievements

• Awarded Runner Up for the Most Transparent Company Award in the Real Estate category at SIAS Investors’ Choice Awards 2022
• Joined the Securities Investors Association Singapore (“SIAS”) in making a public Corporate Governance Statement of Support
• Board has a Diversity Policy aiming for at least 20% female board representation

Climate Goals & Targets

Environmental Challenges

• Higher operating costs arising from increases in land, energy and raw material prices
• Tightened labour market
• Volatile market conditions
• Uncertain geopolitical and economic outlook
• Continuation of hybrid work arrangements
• Global supply chain disruptions
• Economic headwinds from global inflationary pressures and rising interest rates

Mitigation Strategies

• Asset Enhancement Initiative for Singapore Land Tower
• Redevelopment of Clifford Centre
• Asset enhancement works at West Mall
• Calibrating marketing strategies and optimising supply chain for residential projects
• Climate risk assessment for Singapore operations

Supply Chain Management

Responsible Procurement

• Responsible Procurement

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: Green Mark

Awards & Recognition

• Runner Up for the Most Transparent Company Award (Real Estate) at the SIAS Singapore Corporate Governance Week 2022
• Edgeprop Singapore Excellence Awards 2022
• PropertyGuru Asia Property Awards Singapore 2022

Environmental Metrics

ESG Focus Areas

• Climate Change
• Energy Efficiency
• Water Conservation
• Waste Reduction
• Employee Well-being
• Diversity, Equity, and Inclusion
• Workplace Safety
• Ethical Business Practices
• Community Engagement

Environmental Achievements

• 100% of commercial buildings achieved Green Mark certification (six with Platinum or higher ratings)
• Reduced overall Scope 1 and Scope 2 emissions by 2,610 tonnes of CO2 equivalent in 2023
• Singapore Land Tower embodied carbon study showed AEI outperforms demolish-and-rebuild approach
• Implemented Green Fit-out Guide for tenants
• Installed food waste digesters at Marina Square and West Mall

Social Achievements

• Launched "SingLand Empowers" initiative, including "Women Inspired to Thrive" program
• Contributed over $2.8 million to various community causes
• Achieved an average of 29 training hours per employee
• Zero workplace incidents resulting in fatalities or permanent disabilities
• Employee engagement survey showed positive results on culture and work environment

Governance Achievements

• Established a WSH Committee to oversee workplace safety and health
• Maintained zero incidences of non-compliance with fraud, corruption, and unethical actions
• Achieved zero data privacy breaches and losses of customer data
• Implemented a comprehensive Supply Chain Code of Conduct

Climate Goals & Targets

Environmental Challenges

• Rising global temperatures and increased cooling costs
• Risk of flash floods damaging buildings
• Increased carbon prices and building sustainability requirements
• Enhanced sustainability reporting obligations
• Managing tenant energy and carbon footprint

Mitigation Strategies

• Green Mark upgrading works and chiller plant system enhancements
• Regular monitoring of flood-prone areas and incorporating flood adaptation measures
• Securing Green Mark certifications for all properties
• Developing a comprehensive decarbonisation strategy
• Progressive roll-out of Green Fit-out Guide to tenants
• Provision of food waste digester at Marina Square and West Mall

Supply Chain Management

Supplier Audits: Six-monthly audits to ensure compliance with regulatory requirements

Responsible Procurement

• ISO 14001 and bizSAFE certifications for contractors
• Developing a Supply Chain Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Rising mean temperatures and increased cooling costs
• Risk of flash floods damaging buildings

Transition Risks

• Increased business costs due to higher carbon taxes
• Growing building sustainability requirements

Opportunities

• Investing in energy-efficient technologies
• Securing Green Mark certifications

Reporting Standards

Frameworks Used: GRI Standards 2021, TCFD, SASB Real Estate Sustainability Accounting Standard, GHG Protocol Corporate Accounting and Reporting Standard, UN SDGs

Certifications: Green Mark (various levels), bizSAFE (Level 3 for Marina Square, Level Star for UIC Building)

Third-party Assurance: Deloitte & Touche LLP (limited assurance)

UN Sustainable Development Goals

• SDG 6
• SDG 7
• SDG 8
• SDG 11
• SDG 12
• SDG 13
• SDG 16
• SDG 17

Initiatives aligned with SDGs 6 (Clean Water and Sanitation), 7 (Affordable and Clean Energy), 8 (Decent Work and Economic Growth), 11 (Sustainable Cities and Communities), 12 (Responsible Consumption and Production), 13 (Climate Action), 16 (Peace, Justice and Strong Institutions), and 17 (Partnerships for the Goals)

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• ASEAN Energy Awards 2023 (SGX Centre)
• Various awards for residential developments (AMO Residence, Pinetree Hill, Watten House)