First Real Estate Investment Trust
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Climate Goals & Targets
Medium-term Goals:
- Achieve at least 25% female Directors on the Board by 2030.
Environmental Challenges
- Elevated interest rates, rising costs, and heightened global uncertainty in 2023.
Mitigation Strategies
- Strengthened capital structure to remain resilient, in line with First REIT’s 2.0 Growth Strategy.
- Completed early refinancing of a Japanese-Yen denominated TMK bond.
- Entered into non-deliverable forward contracts and call spreads to hedge currency risk from Indonesia and Japan.
- Focus on diversifying into developed markets, re-shaping First REIT’s portfolio for capital efficient growth, and pivoting to megatrends, in line with First REIT 2.0 Growth Strategy.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: Code of Corporate Governance 2018 (MAS)