Doing what is right for the environment and the communities begins with each of us and the choices we make every day. At ESR Group, we believe that all aspects of the Environmental, Social and Governance areas are pivotal to the long-term success of our company and a key enabler to pre-empt and mitigate enterprise risk. As APAC’s largest real asset manager powered by the New Economy with US$156 billion of assets under management and APAC’s largest development workbook of US$11.9 billion, we see tremendous potential in our scale to drive sustainable returns for our investors, make a positive impact on the environment and build stronger communities where we operate. Driven by ESR’s core values to achieve long-term sustainable growth, our ESG strategy strives to address social and environmental challenges and create profound business opportunities. We do this by keeping abreast of evolving and changing expectations surrounding our investments, fund management and New Economy development businesses from our stakeholders, including shareholders, investors, business partners and tenants. We are proud to have a committed Board of Directors to drive overall stewardship and strategic direction to deliver on the Group’s ESG strategy. Within our ESG Framework, we focus on the areas where our business can have the greatest impact: operating within a Human Centric environment, creating space and investment solutions for a sustainable future within our Property Portfolio, and delivering outstanding Corporate Performance. With these in mind, we established our ESG 2025 Roadmap which has helped to navigate social and environmental challenges during and postCOVID era, and we are on track to achieve our targets as we continue to integrate ESG considerations in our business operations. In 2022, with the support of multiple stakeholders, we achieved great progress on our ESG initiatives, including the appointment of two new female independent non-executive directors, Serene Nah and Wei-Lin Kwee, while maintaining a diverse Board composition with the appropriate mix of gender, background and experience. As a result, 60% of our independent non-executive directors are women at the Board level. ESR also became a signatory of the United Nations-supported Principles for Responsible Investment (UN PRI). This reinforces our commitment to adopting and promoting responsible investment and asset management practices as part of the Group’s ongoing ESG efforts. With the successful acquisition of ARA Asset Management Limited (ARA), including its subsidiary LOGOS, in January 2022, we harnessed the expertise and synergies as a unified platform to drive business growth and amplify the impact of our best-in-class sustainability practices to create sustained value for our stakeholders. In response to the global challenges of climate change, we will continue to reduce our carbon footprint, increase renewable energy adoption, and pursue green building certifications. As part of the transition to a low carbon future, we will develop a Group-wide strategy to reach net zero across all asset classes with a clear path to achieve milestone targets in the medium and long-term. We will continue to emphasise accountability and transparency in our disclosures in alignment with global standards and I am proud that we are making a choice to raise the bar for ESG integration and deliver on our ESG 2025 Roadmap. This report demonstrates our continued ESG efforts that require collaboration, innovation and partnerships and I thank you for your interest to learn more about our approach to leading the way forward for a greener and more inclusive world. Jeffrey David Perlman Chairman 28 April 2023 VISION FOR SUSTAINABLE DEVELOPMENT Environmental, Social and Governance Report 2022 6 Letter from our Chairman JEFFREY DAVID PERLMAN Chairman “At ESR Group, we believe that all aspects of the Environmental, Social and Governance areas are pivotal to the long-term success of our company and a key enabler to pre-empt and mitigate enterprise risk.”
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