Pavilion REIT Management Sdn Bhd
Climate Impact & Sustainability Data (2023, 2024)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:94,757 tCO2eq/year (Scope 2) + 38,267 tCO2e (Scope 3)
Scope 1 Emissions:35.7 tCO2e/year
Scope 2 Emissions:94,757 tCO2eq/year
Scope 3 Emissions:38,267 tCO2e/year
Renewable Energy Share:20% (Pavilion KL & Intermark)
Total Energy Consumption:125,009,245 kWh/year
Water Consumption:1,055,816 m3/year
Waste Generated:5,445.2 tons/year
ESG Focus Areas
- Economic Performance
- Business Ethics and Compliance
- Data Privacy and Cybersecurity
- Brand Value and Recognition
- Climate Change
- Asset Acquisition and Management
- Energy Management
- Training and Education
- Waste Management
- Water Management
- Community Engagement
- Talent Attraction and Retention
- Diversity and Equal Opportunity
- Human Rights Management
- Health and Safety
Environmental Achievements
- 20% of electricity generated from renewable energy sources for Pavilion Kuala Lumpur Mall and Intermark Mall
- Diverted 4.5% of landfill waste
- 14.5% reduction in Scope 2 emissions compared to 2019 (excluding Pavilion Bukit Jalil)
- 13.3% reduction in GHG emission intensity compared to 2019 (excluding Pavilion Bukit Jalil and Scope 3 emissions)
- Avoided 20,193 tonnes of CO2e emission in 2023 through Green Electricity Tariff
Social Achievements
- Employee retention rate: 92.0%
- Total Training Hours: 234
- Zero cases of fatalities in 2023
- Total amount invested into communities: RM0.2 million
- Tenant satisfaction level: 75%
- 97% response rate from vendor sustainability questionnaire
Governance Achievements
- Zero cases of non-compliance on anti-bribery and corruption since FY2020
- 36% of Board of Directors in 2023 were women
- 75% of leadership roles are held by women at the management level in 2023
- Zero substantiated complaints concerning human rights violations
- Zero reports of complaints concerning breaches of customer privacy and loss of customer data
Climate Goals & Targets
Long-term Goals:
- Net Zero Carbon Emissions by 2050
Medium-term Goals:
- Reduce Pavilion REIT’s Scope 2 carbon emissions by 20% compared to FY2019 levels by 2030
- Achieve a 20% reduction in carbon intensity for Pavilion REIT’s direct and indirect operations (scope 1 & 2) by 2030
- Increase Pavilion REIT’s utilization of renewable energy sources to 50% of its total electricity consumption by 2040
- Achieve a 3% reduction in landlord electricity consumption by 2030 vs FY2019
- Achieve a 2% reduction in landlord water consumption by 2030 compared to FY2019
Short-term Goals:
- Diverting 5% of waste from landfills by 2024
- Conducting customer satisfaction survey in FY2024
- Revising vendor evaluation process to include ESG criteria by FY2024
- Developing a formal policy for supply chain management and sustainable procurement by FY2025
Environmental Challenges
- Rising interest rates and inflation
- Risks from the impending luxury tax
- Weakened spending power due to higher cost of living
- Weak ringgit leading to higher import costs
- Risk of cyberattacks due to increased digitalization
- Climate change impacts such as flooding
Mitigation Strategies
- Closely monitor developments in the domestic and global economy
- Diversifying the tenant mix
- Implementing effective risk management strategies
- Curate unique physical retail experiences
- Invest in technology and digital marketing
- Implement flood mitigation mechanism and training
- Invest in cybersecurity measures
- Enhance IT systems and infrastructures
Supply Chain Management
Supplier Audits: Regular audits to ensure compliance with human rights and labor standards; vendor sustainability questionnaire with 97% response rate
Responsible Procurement
- Vendor Code of Conduct
- Sustainable procurement policy (planned for FY2025)
- ESG factors considered in vendor evaluation
Climate-Related Risks & Opportunities
Physical Risks
- Flooding
Transition Risks
- Policy shifts
- Technology changes
- Reputation
Opportunities
- Development of energy-efficient products
Reporting Standards
Frameworks Used: GRI Standards, TCFD recommendations
Third-party Assurance: KPMG PLT
UN Sustainable Development Goals
- SDG 3
- SDG 4
- SDG 5
- SDG 6
- SDG 7
- SDG 8
- SDG 9
- SDG 10
- SDG 11
- SDG 12
- SDG 13
- SDG 16
Various initiatives contribute to these goals as detailed throughout the report.
Awards & Recognition
- 53 accolades for Pavilion Kuala Lumpur Mall
- Best Experiential Marketing Awards 2022-2023 for DA MEN Mall
- Malaysia Book of Records for DA MEN Mall
- Parents Choice Award 2023 for Pavilion Bukit Jalil
Reporting Period: 2024
Environmental Metrics
ESG Focus Areas
- Economic
- Environmental
- Social
- Governance