SUSTAINABILITY MANAGEMENT BOARD STATEMENT At CLAS, sustainability is at the core of everything we do. We are committed to growing in a responsible manner, delivering long-term economic value, and contributing to the environmental and social wellbeing of our communities. CLAS’ material environmental, social and governance (ESG) factors are aligned with CapitaLand Investment Limited's (CLI) 2030 Sustainability Master Plan (SMP), which was refreshed in 2023 and endorsed by CLAS’ Boards and Management. The SMP steers our efforts on a common course to maximise impact through building portfolio resilience and resource efficiency, enabling thriving and future-adaptive communities, and stewarding responsible business conduct and governance. Ambitious ESG targets have been set which include carbon emissions reduction targets validated by the Science Based Targets initiative (SBTi). In 2023, the SMP targets were revised to elevate the SBTi-approved targets in line with a 1.5OC scenario, incorporate CLI’s Net Zero commitment and enhance its focus on social indicators. CLAS’ Boards are responsible for overseeing CLAS’ sustainability efforts, and take ESG factors into consideration in determining its strategic direction and priorities. The Boards also approve the executive compensation framework based on the principle of linking pay to performance. CLAS’ business plans are guided by both quantitative and qualitative performance targets, and executed through sustainable corporate practices. CLAS’ sustainability efforts have been recognised by global indices such as GRESB. We will continue to identify and adopt meaningful ESG practices and enhance sustainability in our business. BOARD, TOP MANAGEMENT AND STAFF COMMITMENT CLAS’ Boards recognise the importance of sustainability as a business imperative, and ensure that sustainability considerations are factored into CLAS’ strategy development. This enables CLAS to remain competitive and resilient in an increasingly challenging business environment. The Boards are kept informed of CLAS’ sustainability management performance, key material issues identified by stakeholders, and the planned follow-up measures. The Boards are updated quarterly and at ad hoc Board meetings. The Boards discuss matters relating to sustainability risks, and relevant performance metrics, which include carbon emissions and our progress on achieving the reduction targets, green certification, human capital development, as well as stakeholders’ expectations on climate change, social impact and/or other matters. The Boards are also informed of any incidents relating to workplace safety, business malpractice and environmental impact, which may include climate-related damage or disruptions. CLAS’ Sustainability Committee is responsible for overseeing CLAS’ sustainability strategies and goals, and monitoring the progress of the sustainability initiatives. CLAS’ Sustainability Committee comprises the CEO and Heads of Department of CLAS’ Managers, and the Heads of Department of the operations and technical teams of its Sponsor. A Sustainability Working Committee, led by the Head, Investor Relations & Sustainability, provides support to the Sustainability Committee. At CapitaLand Investment Limited (CLI), lead Independent Director Mr Anthony Lim chairs the Strategy and Sustainability Committee (SSC), which is a Board Committee of CLI. The SSC typically meets twice a year, with additional meetings convened as necessary. The CLI Leadership Council makes strategic resource allocation decisions and meets on a regular basis. The CLI Leadership Council comprises the Group CEO, CEOs of the business units and key management officers of the corporate office. The sustainability work teams comprise representatives from CLI business units and corporate functions. Each business unit has its own Environmental, Health and Safety (EHS) Committee to drive initiatives in countries where it operates with support from various departments. 80 CAPITALAND ASCOTT TRUST
RkJQdWJsaXNoZXIy NTkwNzg=