Sustainability
BOARD STATEMENT
The Board of Directors of the Manager (the “Board”) is pleased to present Suntec REIT’s Sustainability Report for the financial year ended 31 December 2023 (“FY 2023”). This report summarises Suntec REIT’s environmental, social and governance (“ESG”) performance in FY 2023 and demonstrates the REIT’s commitment towards the sustainable management of its real estate portfolio.
Suntec REIT remains committed to its mission of “forging ahead to create, provide and deliver value to all stakeholders”. To enhance sustainable value creations for all stakeholders, the Board takes into consideration ESG risks and opportunities, as well as other sustainability issues in Suntec REIT’s business and strategy as part of its strategic decision formulation in ensuring good corporate governance, prudent financial management fair employment practices and efficient utilisation of resources.
An annual reassessment of material ESG matters is important to adapt to the changing global landscape and meeting the needs of stakeholders. The existing material ESG factors for Suntec REIT were reviewed and the Board determined these material ESG factors remain relevant to the broader sustainability trends impacting the REIT and its industry, and are aligned with Suntec REIT’s sustainability priorities. The Board and the Manager will continue to oversee the management and monitoring of these material ESG matters.
To access the full Sustainability Report, please click here.
OUR ESG OBJECTIVES
Suntec REIT recognizes the direct and indirect environmental impacts of our business and are committed to identifying and responding to climate change risks. We seek to protect our environment through improving energy and water consumption efficiencies in the buildings we manage, reducing consumption in natural resources based on established targets and raising staff awareness and their commitment towards green causes.
In FY 2023, the Manager achieved a 20.4% reduction in energy Intensity from 2019 levels while water intensity was well within the target set of maintaining it at FY 2019 levels of 1.6m3/m2. The REIT is on-track to achieve its 2024 targets set for energy and water intensities. The Manager will continue to monitor and review the environmental performance of its portfolio.
| FY 2024 TARGET | FY 2023 PERFORMANCE |
|---|---|
| To reduce energy intensity by 3% in 2024 from FY 2019 levels |  Achieved
|
| To maintain water intensity in FY 2024 from FY 2019 levels | Achieved
|
The Manager, as a wholly-owned subsidiary of ESR Asset Management Limited under the ESR Group, is also committed to achieving the ESG objectives outlined in ESR Group's ESG Framework, ESG Roadmap and website.
For more information on ESR Group’s sustainability journey and roadmap, please click here.
