ABOUT THIS REPORT INTERNATIONAL STANDARDS AND GUIDELINES This report is prepared in accordance with the Global Reporting Initiative (GRI) Standards 2021, and complies with the Singapore Exchange Securities Trading Limited’s (SGX-ST) Listing Manual Rules 711A and 711B. The GRI Standards have been selected as it is an internationally recognised sustainability reporting framework that covers a wide range of disclosures that are relevant to CLAS. This report incorporates elements of the Integrated Reporting (IR) Framework of the International Financial Reporting Standards (IFRS) Foundation such as the six IR capitals – Environmental, Manufactured, Human, Social and Relationship, Organisational and Financial, and also references eight United Nations Sustainable Development Goals (UN SDGs). CLAS also adopts a progressive approach towards climate-related disclosures in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and Sustainability Accounting Standards Board (SASB) real estate sector-specific standards in this report. REPORTING SCOPE AND PERIOD This report covers CLAS’ portfolio for the financial period from 1 January 2023 to 31 December 2023 (FY 2023), unless otherwise indicated. Taking guidance from the operational control approach as defined by the Greenhouse Gas (GHG) Protocol Corporate Standard, this report primarily covers CLAS’ environmental performance relating to the properties managed by CLAS’ Sponsor, The Ascott Limited (Ascott), the lodging unit of CLI. CLAS’ properties are predominantly managed by Ascott. As at 31 December 2023, CLAS’ portfolio comprised 51 Ascott-managed operational properties: • This excluded four properties which were divested in September 2023. The environmental data for these properties prior to their divestments has been included in our reporting, where available. • This included three properties which were acquired in November 2023. The environmental data for The Cavendish London and Ascott Kuningan Jakarta has been included in our reporting, while Temple Bar Hotel has been excluded as the property was undergoing transition from the previous third-party operator. Properties which were in operation for less than 12 months and/or undergoing asset enhancement have been excluded from the computation of intensity data. In FY 2023, there were five Ascott-managed properties undergoing asset enhancement1. The environmental performance of the remaining CLAS properties which are managed by third parties is being tracked and monitored. Scope 3 GHG emissions data for these properties has been disclosed in this report. CLAS is managed by the Managers which are whollyowned CLI subsidiaries. For the purpose of this report, CLAS’ employees refer to the employees of the Managers and CLAS’ Ascott-managed properties, unless otherwise stated. This report is to be read in conjunction with CLAS’ Annual Report 2023, which can be accessed via CLAS’ website. In line with CLAS’ commitment to environmental sustainability, no copies of this report have been printed. INDEPENDENT ASSURANCE To enhance data credibility and instill confidence in readers, CLAS has engaged KPMG LLP to provide independent assurance over a selection of our key ESG disclosures in this report in accordance with International Standard on Assurance Engagement 3000 (ISAE 3000). The assurance covers selected indicators from the GRI Standards, and is focused on figures, statements and claims related to sustainability during the reporting period of 1 January 2023 to 31 December 2023, as well as comparisons made with the period of 1 January 2019 to 31 December 2019. The assurance also covers CLAS’ progress against the sustainability performance targets of its sustainability-linked bonds. The accuracy and reliability of the report’s statements and figures are also validated. The assurance also covers the report’s overall compliance to the Singapore Exchange’s principles and rules on sustainability reporting. For the Independent Limited Assurance Report, please refer to Appendix G of this report. FEEDBACK If you have questions or feedback, please send them to ask-us@capitalandascotttrust.com. 1 In addition to the computation of intensity data, consumption data for The Robertson House by The Crest Collection was also excluded from our reporting as the property was undergoing asset enhancement for most of FY 2023. 3 CAPITALAND ASCOTT TRUST
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