Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Responsible Business
• People and Community

Environmental Achievements

• 7.0% decrease in total energy consumption
• 22.0% decrease in water consumption
• 5.7% improvement in Scope 2 emissions intensity

Social Achievements

• 100% of workforce received training and performance reviews, with an average of 19.1 training hours per employee.
• Zero health and safety incidents.
• 100% compliance rate with relevant laws and regulations.
• 790 volunteer hours dedicated to community initiatives.

Governance Achievements

• Zero incidents of non-compliance with relevant laws and regulations.
• Effective Enterprise Risk Management (ERM) framework addressing material ESG risks.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic affecting lives and businesses globally.

Mitigation Strategies

• Implemented enhanced cleaning measures, social distancing protocols, and new technologies (self-cleaning elevator buttons, door handle wraps, UV disinfecting robot) across properties.
• Progressively installed needlepoint bipolar ionization systems to improve air quality.
• Leveraged technology to continue operations effectively.
• Engaged key stakeholders virtually.
• Optimized portfolio and calibrated leasing strategy to meet potential shifts in occupier demand.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• References Keppel Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Cost savings from greater energy efficiency
• Recognition such as LEED certifications and ENERGY STAR® labels

Reporting Standards

Frameworks Used: GRI Standards: Core option, Business for Societal Impact (B4SI) Framework

Certifications: ENERGY STAR® label (Westmoor Center)

Third-party Assurance: Corporate Citizenship (for community outreach)

UN Sustainable Development Goals

• SDG 3, 6, 8, 11, 12, 16, 17

Sustainability approach aligned with relevant SDGs.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Westmoor Center recognized as a “Climate Change Champion” by CBRE

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Responsible Business
• People and Community

Environmental Achievements

• Three properties maintained LEED Gold Status
• 105 Edgeview in Denver maintained WELL Health-Safety Rating
• 8.1% decrease in Scopes 1 and 2 emissions from 2020
• 2.3% decrease in total energy consumption from 2020
• 4.9% decrease in total water consumption from 2020
• 2.1% reduction in non-hazardous waste from 2020

Social Achievements

• Implemented safe management measures and provided support to ensure the physical and mental well-being of employees during the pandemic
• Held a week-long virtual learning festival with talks on digitalisation and sustainability
• Each employee received an average of 18.7 training hours
• Organised various activities to promote work-life balance and encourage employees to maintain their physical and mental well-being
• More than 630 volunteering hours dedicated in 2021 to community activities
• Zero cases of customer health and safety incidents

Governance Achievements

• Upholding strong corporate governance, robust risk management, and timely and transparent communications with stakeholders
• No confirmed incident of corruption, bribery, or fraud, nor any non-compliance with laws or regulations in 2021
• All Directors and staff received mandatory training on anti-corruption policies and procedures

Climate Goals & Targets

Environmental Challenges

• COVID-19-related operational and logistical challenges
• Reduced physical occupancy at properties due to the pandemic

Mitigation Strategies

• Amplified efforts to ensure the welfare of people and provide a safe work environment
• Implemented safe management measures aligned with health and safety advisories
• Installed needlepoint bipolar ionisation systems at properties
• Leveraged virtual platforms for CSR activities
• Implemented energy-saving initiatives and emissions reduction strategies
• Aligned disclosures with TCFD recommendations

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• References Keppel Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Long-term changes in climate

Transition Risks

• Global decarbonisation efforts

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI Standards: Core option

Certifications: LEED Gold, WELL Health-Safety Rating, ENERGY STAR®

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 3
• SDG 6
• SDG 8
• SDG 9
• SDG 11
• SDG 12
• SDG 16
• SDG 17

The Manager focuses on SDGs aligned with its business and where it can contribute most meaningfully to build a more sustainable future.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• MSCI ESG Ratings assessment ('BBB' rating)

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Responsible Business
• People and Community

Environmental Achievements

• 15.2% reduction in Scopes 1 and 2 emissions compared to 2019 levels
• 8.5% year-on-year reduction in waste generation
• Two properties achieved LEED Gold status

Social Achievements

• Zero employee and customer safety incidents
• Average of 21.2 hours of training per employee
• More than 1,000 hours dedicated to community outreach activities

Governance Achievements

• Improved to 9th place in the Singapore Governance and Transparency Index
• Maintained 2nd place in the Governance Index for Trusts 2022
• MSCI ESG Ratings upgraded from 'BBB' to 'A'

Climate Goals & Targets

Environmental Challenges

• Increased energy consumption due to tenants returning to offices
• Potential financial impacts of climate-related risks and opportunities

Mitigation Strategies

• Implementation of energy optimisation measures (LED retrofits, HVAC unit replacements)
• Detailed scenario analysis to evaluate climate-related risks and opportunities
• Development of a two-year roadmap to implement TCFD recommendations

Supply Chain Management

Responsible Procurement

• References Keppel Group Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Extreme precipitation
• Extreme water level
• Extreme temperature
• Heat wave days
• Fire risk

Transition Risks

• Increasing price of carbon
• Enhanced reporting obligations
• Stricter building/sector regulations
• Increased cost of materials and consumables
• Increase in costs of energy and fuel
• Unsuccessful investment in/deployment of new technology
• Change in stakeholder (customers and investors) expectations

Opportunities

• Resource efficiency and energy source
• Increased access to incentives and capital
• Diversification of business
• Shift in stakeholder (customer and investor) expectations

Reporting Standards

Frameworks Used: GRI Standards

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 9 (Industry, Innovation and Infrastructure)
• SDG 11 (Sustainable Cities and Communities)
• SDG 12 (Responsible Consumption and Production)
• SDG 13 (Climate Action)
• SDG 8 (Decent Work and Economic Growth)
• SDG 17 (Partnerships for the Goals)

KORE's initiatives contribute to these SDGs through various activities such as energy efficiency improvements, waste reduction, community engagement, and employee well-being programs.

Awards & Recognition

• LEED Gold status (multiple properties)
• ENERGY STAR® label (multiple properties)

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Responsible Business
• People and Community

Environmental Achievements

• 8.7% reduction in Scope 1 and 2 emissions from 2019 levels
• Multiple properties achieved the US Environmental Protection Agency’s ENERGY STAR® label in 2023
• 22% of total waste generated was recycled or composted in 2023

Social Achievements

• Maintained one-third female representation on the Board
• Dedicated more than 900 volunteer hours
• Achieved an average of 20 hours of training per employee in 2023
• Zero employee and customer safety incidents
• Introduction of Keppel’s Diversity, Equity & Inclusion Policy

Governance Achievements

• Zero incidents in corruption, bribery, fraud and any instances of non-compliance with laws or regulations
• Improved ranking in the Singapore Governance and Transparency Index
• Zero cases of substantiated complaints received concerning breaches of customer privacy

Climate Goals & Targets

Environmental Challenges

• Volatility and inflationary environment in 2023
• Increasing price of carbon and energy
• Enhanced reporting obligations
• Stricter building/sector regulations
• Change in stakeholder expectations

Mitigation Strategies

• Investing in key markets with rapid growth, coupled with strategic portfolio management
• Investing in emissions reduction and energy efficiency technology and initiatives
• Full compliance with current reporting obligation standards
• Maintaining LEED certifications and ENERGY STAR® labels
• Implementing various emissions reduction and energy efficiency initiatives

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Keppel Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Extreme precipitation
• Extreme water level
• Extreme temperature
• Heat wave days
• Fire risk

Transition Risks

• Increasing price of carbon
• Enhanced reporting obligations
• Stricter building/sector regulations
• Increase cost of materials and consumables
• Increase in costs of energy and fuel
• Unsuccessful investment in/deployment of new technology

Opportunities

• Resource efficiency and energy source
• Increased access to incentives and capital
• Diversification of business
• Shift in stakeholder expectations

Reporting Standards

Frameworks Used: GRI Standards

Certifications: LEED, ENERGY STAR®

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• ENERGY STAR® label
• LEED certifications