Climate Change Data

Environmental Metrics

ESG Focus Areas

• Economic Performance
• Procurement Practices
• Anti-corruption
• Resource Management
• Ecosystems and Biodiversity
• Employee Management
• Labor-Management Relations
• Diversity and Equal Opportunity
• Occupational Health and Safety
• Labor Laws and Human Rights
• Supply Chain Management
• Relationship with Community
• Customer Management
• Health and Safety
• Marketing and labeling
• Customer privacy
• Data Security
• UN Sustainable Development Goals

Environmental Achievements

• Not disclosed

Social Achievements

• Recorded 15,855 safe man-hours without lost time incident during the reporting period. There were no recorded incidents or injuries at the workplace.
• Provided fair employment benefits with 21% of the economic value generated during the reporting period redistributed as employees’ wages and benefit.

Governance Achievements

• No reported incidents of corruption during the reporting period.
• All suppliers are informed of, be required to abide by and declare acceptance of and adherence to Keppel's Supplier Code of Conduct.

Climate Goals & Targets

Environmental Challenges

• Risk of corruption during the generation and distribution of economic values.
• Risk of awarding contracts to suppliers who may not meet industry standards or may be non-compliant to government regulations.
• Risk of employee flight and a "shallow bench" problem that may lead to disruption in the business operations.
• Lack of awareness and inadequate training may potentially expose the organization to financial reporting risk and occupational health and safety risk.
• Non-compliance with laws and regulations will not only have a significant financial impact but can also potentially damage the reputation of the organization.
• Failure to protect the rights of individuals and exercise the obligations of organizations with respect to the collection, storage, use, disclosure, retention, and disposal of personal data may potentially lead to complaints from data subjects, investigations by the National Privacy Commission (NPC) and imposition of penalty thereby also putting the reputation of the organization at risk.
• Data-breach risk, data management and data privacy risk are present whenever information technology is used in the organization.
• A work environment that is unsafe and unhealthy will unduly expose employees to injuries or illnesses that can result to medical cost, absenteeism, lower productivity and quality of service and low morale.
• Human rights violations and infraction of labor laws have grave legal consequences and may cause irreparable damage to the company's brand and reputation.
• Unqualified or dubious suppliers and contractors may be awarded supply contracts and deliver goods and services with poor quality resulting to costly rework, damage or delay to the business operations.
• A customer who is not happy with the organization's services may bring its business elsewhere leading to loss of revenue due to tenant attrition.
• The lack of a safety and health policies and measures may lead to incidence of injury and ill health to the employees and other stakeholders.

Mitigation Strategies

• It is the policy of the organization to ensure that every related party transaction is made at arm’s length, the terms are fair, and they will inure to the best interest of the company, its shareholders, subsidiaries and affiliates and that they are compliant with legal and regulatory requirements.
• The Keppel Group of Companies has set out anti-bribery compliance framework, management systems and standards that the organization must adhere to in order to assure the ethical conduct of its business.
• Whistle-blower and Insider Trading policies are also in place.
• Employees also undergo periodic anti-bribery and corruption training to underscore the organization's commitment to a zero-tolerance approach towards bribery.
• All suppliers are informed of, be required to abide by and declare acceptance of and adherence to Keppel's Supplier Code of Conduct.
• The Management reviews succession planning and employee retention strategy. It shall also consider tapping the talent pool of other companies under the Keppel Group.
• The Management provides courses and information on the latest regulatory developments, industry standards and practices with regular updates from its external auditors and legal counsels to ensure proper recognition, treatment, recording and disclosure of financial transactions in compliance with the regulatory environment.
• The Company shares occupational health and safety procedures from a related company that is relevant to the office environment with regular safety alerts and bulletins posted on the office bulletin board.
• All directors and employees as well as the organization's third party associates shall abide with Keppel's Code of Conduct and uphold Keppel's Statements on Human Rights.
• The company has a formal supplier accreditation policy and supplier performance evaluation in place.
• As property owner and lessor, the organization continues to engage with its tenant to find out any concerns relating to the leased premises so as to keep these tenants satisfied and encourage them to renew their lease and go for long-term leases.
• The organization shall adopt and formalize the safety and health policies of the Keppel Group in its workplace to underscore its commitment of ensuring an incident-free workplace and to prevent injury and ill health to its stakeholders.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• 8, 10, 13

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Responsible Business
• People and Community
• Environmental Stewardship

Social Achievements

• Recorded 17,800 safe man-hours without lost time incident during the reporting period. There were no recorded incidents or injuries at the workplace.

Governance Achievements

• The Company considers integrity and accountability as part of its core values. Everyone is to act ethically and honestly, as everyone in the organization is responsible to all of its stakeholders.

Climate Goals & Targets

Environmental Challenges

• Risk of contractual rates below market with related parties and corruption exists during the generation and distribution of economic values.
• Risk of awarding contracts to suppliers who may not meet industry standards or may be non-compliant to government regulations, which may negatively impact on the reputation of the organization.
• The Company’s talent pool includes contingent workers whose age are the past retirement age. Majority of its employees now qualifies for early retirement and a number of the workforce are nearing the age of compulsory retirement.
• A work environment that is unsafe and unhealthy will unduly expose employees to injuries or illnesses that can result to medical cost, absenteeism, lower productivity and quality of service and low morale.
• Human rights violations and infraction of labor laws have grave legal consequences and may cause irreparable damage to the company's reputation.
• Unqualified or dubious suppliers and contractors may be awarded supply contracts and deliver goods and services with poor quality resulting to costly rework, damage or delay to the business operations.
• A customer who is not happy with the organization's services may bring its business elsewhere leading to loss of revenue due to tenant attrition.
• Failure to protect the rights of individuals and exercise the obligations of organizations with respect to the collection, storage, use, disclosure, retention, and disposal of personal data may potentially lead to complaints from data subjects, investigations by the National Privacy Commission (NPC) and imposition of penalty thereby also putting the reputation of the organization at risk.
• Data-breach risk, data management and data privacy risk are present whenever information technology is used in the organization.

Mitigation Strategies

• It is the policy of the organization to ensure that every related party transaction is made at arm’s length, the terms are fair, and they will inure to the best interest of the company, its shareholders, subsidiaries and affiliates and that they are compliant with legal and regulatory requirements.
• The Keppel Group of Companies has set out anti-bribery compliance framework, management systems and standards that the organization must adhere to in order to assure the ethical conduct of its business.
• Whistle-blower and Insider Trading policies are also in place.
• Employees also undergo periodic anti-bribery and corruption training to underscore the organization's commitment to a zero-tolerance approach towards bribery.
• All suppliers are informed of, required to abide by and to declare acceptance of and adherence to Keppel’s Supplier Code of Conduct.
• The organization has zero tolerance for fraud, bribery, corruption and violation of laws and regulations.
• All directors and employees as well as the organization's third party associates shall abide with Keppel's Code of Conduct and uphold Keppel's Statements on Human Rights.
• As property owner and lessor, the organization continues to engage with its tenant to find out any concerns relating to the leased premises so as to keep these tenants satisfied and encourage them to renew their contracts and go for long-term leases.
• The organization shall abide by the Data Privacy Act of 2012 (R.A. 10173) and require its employees to undergo training to familiarize themselves with the regulations and the need to protect personal data provided by customers and other stakeholders.
• The company shall continue to provide annual training and periodic reminders on data security, data management and data privacy and to conduct periodic technology and data risk assessment.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• The organization is using vendors that have already been accredited by related party(ies).

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Third-party Assurance: Isla Lipana & Co. (PwC)

UN Sustainable Development Goals

• SDG 8: Decent Work and Economic Growth
• SDG 11: Sustainable Cities and Communities

The organization generates economic value from the lease of its real estate properties and interest income from loans extended to other parties. These activities contribute to selected UN Sustainable Goals.