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 2022 (“FY 2022”). This report summarises Suntec REIT’s environmental, social and governance (“ESG”) performance in FY 2022 and demonstrates the REIT’s commitment towards the sustainable management of its real estate portfolio.

The Board has considered sustainability issues in Suntec REIT’s business and strategy, determined the material ESG factors and overseen the management and monitoring of the material ESG factors. Suntec REIT continues to focus on its mission in “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 as part of its strategic decision formulation in ensuring good corporate governance, prudent financial management, fair employment practices and efficient utilisation of resources.

In FY 2022, the Board and the Manager have reviewed the existing material ESG matters and updated the ESG matters in consideration of the broader sustainability trends impacting the REIT and its industry, while aligning with Suntec REIT’s sustainability priorities for the current year as well as the material ESG topics of ESR Group. The Board and the Manager will continue to oversee the management and monitoring of these material ESG factors.

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 2022, the Manager achieved a 18.9% and 31.3% reduction in energy and water intensities from FY 2019 levels, partly because of the lower building usage during COVID-19 pandemic and initiatives implemented . 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 2022 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 ARA 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.