Governing Our Values

Our commitment to governing the Group with sustainability lays the foundation for our sustainability journey. Sustainability is deeply rooted at all levels of our business, guiding the Group’s governance, day-to-day operations and future growth. Through ESG-driven governance, we strive to realise long-term value creation, which ensures resilience, longevity and continuity of the Group.

Achievement of annual sustainability commitments

-Star

In Global Real Estate Sustainability Benchmark (“GRESB”) 2023

In CDP’s Climate Change Assessment (2022 and 2023)

Solidifying Our ESG Governance Structure

ESG is the one of the fundamental strategies that guide us to build communities for the future and create places with heart. We have been continuously strengthening the role of sustainability in our governance, as we are actively seeking ways to further integrate sustainability into the core of our business operations and governance. To ensure overall effective ESG governance and knowledge transfer, a comprehensive and robust ESG governance system has been structured covering different aspects of corporate sustainability, with improvements on the governance made during the Reporting Period.

Our Annual Commitments

The four ESG Sub-Committees established 67 annual commitments at the beginning of the Reporting Period, focusing on various areas. These sustainability commitments were then cascaded down to relevant business units, motivating staff members at all levels to work towards achieving these goals and actions. As a result, we achieved an accomplishment rate of 79%. The Group’s sustainability performance was regularly reported to the ESG Steering Committee. To maintain equal emphasis on People, Community, Prosperity and Planet, we are actively reviewing these yearly commitments and incorporating new ones.

Stakeholder Engagement and Materiality Assessment

By staying in touch with our stakeholders, we gain valuable insights into their expectations regarding our sustainability efforts. This also helps us pinpoint important matters and evaluate how effective our sustainability measures are.

Tenant and Customer Survey

Acknowledging the crucial role that our tenants and customers play in the success of our business, we place a high priority on their feedback and satisfaction. To this end, we consistently engage in gathering their perspectives through regular tenant and customer satisfaction surveys. These surveys are instrumental in capturing their insights, identifying theirprimaryconcernsandtherebyenablingus to elevatethe standardof our services.

Governing a Sustainable Supply Chain

Our sustainability efforts extend beyond our internal operations. To ensure that we are aligned with our values, we have created a specific governance system that enables us to work closely with our value chain partners. The Sustainable Procurement Strategy Committee (“SPSC”) oversees our procurement practices. The SPSC sets high-level project directions and annual objectives and evaluates our performance to ensure that we are alignedwiththe Group's overall strategy.

Business Ethics and Integrity

The Group places great importance on upholding a strong sense of integrity and ethical behaviour in all aspects of our business operations. Our longstanding reputation for honesty, trustworthiness and fair play is an asset that contributes to our long-term growth and prosperity. Our company policies address various areas such as fair labour, conflicts of interest, bribery, competition and antitrust, privacy compliance and equal opportunity. Every colleague of the Group is required to fully adhere to the company policies and acknowledge their understanding of its contents in writing upon joining the company.

Risk Management and Internal Control

Risk management is an integral part of the Group’s operations at every level. We prioritise the timely identification and mitigation of risks, as it forms the foundation of our risk management approach. With a comprehensive risk management framework, policies and procedures safeguarding group-level and departmental-level operations, we conduct risk management workshops regularly to ensure the concept of risk management is properly cascaded.