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 2024 (“FY 2024”). This report summarises Suntec REIT’s environmental, social and governance (“ESG”) performance in FY 2024 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” and integrates ESG risks and opportunities into its business strategy. The Board prioritises good corporate governance, financial prudence, fair employment and resource efficiency to enhance sustainable value creation.
Annual reassessment of key ESG issues is crucial for adapting to the evolving global landscape and addressing stakeholder needs. The Board reviewed Suntec REIT’s current material ESG factors and confirmed their relevance to broader sustainability trends affecting the REIT and its industry, and are aligned with its sustainability priorities. The Board and Manager will continue to manage and monitor 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 2024, the Manager achieved a 21.5% 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 achieved its 2024 targets set for energy and water intensities. The Manager has set a new target in 2032 to achieve 27% reduction in Scope 1 and 2 emissions from 2023 baseline year and achieve net zero carbon emissions (Scope 1 and 2) for all Australia and UK assets. For water intensity, the Manager targets to maintain it at FY 2023 levels in FY 2028.
| FY 2024 TARGET | FY 2024 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
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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.
