Climate Change Data

IGB Commercial Real Estate Investment Trust

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:31018 tCO2e/year (Scope 1: 16, Scope 2: 19840, Scope 3: 11178)
Scope 1 Emissions:16 tCO2e/year
Scope 2 Emissions:19840 tCO2e/year
Scope 3 Emissions:11178 tCO2e/year
Total Energy Consumption:34982 MWh/year
Water Consumption:316377 m3/year
Waste Generated:832.8 tons/year

ESG Focus Areas

  • Health, Safety & Security
  • Customer Satisfaction
  • Economic Performance
  • Human Capital Management
  • Data Privacy & Security
  • Corporate Governance
  • Climate Change
  • Diversity, Equity & Inclusion
  • Water Management
  • Community/Society
  • Waste Management
  • Supply Chain Management

Environmental Achievements

  • GTower received the GreenRE (Gold) Commercial Category Award
  • Southpoint Offices & Retail achieved the Green Building Index (GBI) Silver Certification
  • Menara Tan & Tan received a Greenpass Operation certification, achieving a 41.38% emissions reduction

Social Achievements

  • Organised Corporate Social Responsibility (CSR) activities including blood donation drives, a fitness event, and a clothes donation drive
  • Organised a tenant networking event
  • Published a quarterly e-newsletter for tenants

Governance Achievements

  • Adopted the IGB Group Sustainability Policy
  • Undertook a corruption risk assessment covering all operations
  • 77% of employees completed corruption-related training

Climate Goals & Targets

Medium-term Goals:
  • Reduce Energy Usage Intensity (EUI) by 18% by 2030
  • Achieve a 10% waste diversion rate by 2030

Environmental Challenges

  • Increasing availability of new office developments putting downward pressure on rental rates
  • Flight-to-quality trend with companies preferring prime, Grade A, and green-certified buildings
  • Increased costs due to sustained inflation and a depreciating ringgit
Mitigation Strategies
  • Focused on tenant retention and building loyalty in Mid Valley City properties
  • Improved occupancy in KL City Centre by offering greater flexibility
  • Undertook Asset Enhancement Initiatives (AEIs) to enhance efficiency, accessibility, and environment
  • Offered a 'built-to-lease' program for tenant customization
  • Provided exclusive privileges for new and renewing tenants

Supply Chain Management

Responsible Procurement
  • ESG questionnaire for new and existing suppliers
  • Requirement for suppliers to adhere to all laws and regulations

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events
Transition Risks
  • Regulatory changes concerning carbon emissions
Opportunities
  • Improvements in energy and water usage efficiency

Reporting Standards

Frameworks Used: Bursa Malaysia Corporate Governance Guide (4th Edition), Bursa Malaysia Sustainability Reporting Guide (3rd Edition), Malaysian Code on Corporate Governance (MCCG) 2021, Main Market Listing Requirements (MMLR), Guidelines on Listed Real Estate Investment Trusts, United Nations Sustainable Development Goals (SDGs), Malaysian Financial Reporting Standards (MFRS), International Financial Reporting Standards (IFRS), Companies Act 2016

Third-party Assurance: Group Internal Audit of IGB Berhad

Awards & Recognition

  • GreenRE (Gold) Commercial Category Award (GTower)
  • Green Building Index (GBI) Silver Certification (Southpoint Offices & Retail)
  • Greenpass Operation Certification (Menara Tan & Tan)