ESR Group Limited Annual Report 2023 39 Sustainable and Efficient Operations Over the past year, the Group actively pursued asset enhancement initiatives to improve energy efficiency across its strategic assets. ESR collaborated with various stakeholders to implement numerous decarbonisation initiatives in line with its commitment to decarbonise the portfolio under management. In Australia, ESR partnered with Solar Bay, a leading Australian clean energy system developer, for a planned investment of up to AU$500 million in renewable energy infrastructure over the next decade. ESR China successfully installed rooftop solar panels at Shenyang Yibei Logistics Park, generating 1 MW of renewable energy to the grid. This pilot project in Shenyang is part of ESR China's plan to increase its solar capacity to exceed 100 MW over the next few years. ESR Korea partnered with Korea PILLAR 2: PROPERTY PORTFOLIO This pillar focuses on the environmental impacts that ESR Group directly controls or exerts significant influence over in relation to the design, construction, maintenance and operations of its managed assets. Development Bank (“KDB”) and Korea Logistics Renewable Energy (“KLRE”) to develop and operate a network of rooftop solar panels on seven logistics assets owned by ESR Kendall Square REIT, with the aim to generate around 15,000 MWh of solar energy annually. Furthermore, ESR Group entered into a partnership with Chinachem Group to explore the future demand for electric commercial vehicles by providing charging services at its cutting-edge cold storage and logistics facility in Kwai Chung, Hong Kong. In the transition to a low-carbon economy, ESR Group is developing a Net Zero Carbon strategy and decarbonisation roadmap that will be unveiled later this year. Diversity, Equity and Inclusion The Group continues to embrace Diversity, Equity and Inclusion (“DEI”) and set up a DEI Committee based in Europe. The committee has reviewed and updated its recruitment process to emphasise diversity considerations and also introduced a school outreach programme to address low social mobility. With the success of this pilot initiative, more of such committees are intended to be set up to drive DEI efforts across the Group. The team in Europe also invited an external Behavioural Science Consultant and Assistant Professor to host several DEI workshop sessions to foster mindsets and actions for a more inclusive culture. The Group continues to embrace International Women’s Day to celebrate women in its workforce through a series of events. Community Investment As part of ESR Group's centralised strategy, the Group Social Impact Committee was set up in 2023, to drive group-wide community investment initiatives with global consistency and local relevance. The Group also implemented the Social Impact Application, an online tool to track community investment programmes and metrics. ESR continued to nurture its communities through initiatives aligned with its three focus areas of Strengthening Social Resilience, Health and Well-being, Promoting Education and Upskilling, and Protecting the Environment . Examples include increasing access to affordable housing in the United Kingdom (“UK”), building classrooms in China, as well as conserving biodiversity in Japan, amongst others. These initiatives are covered in further detail in the ESG Report. SCWO “Embracing Equity” Golf event, ESR’s Emma Larsson receiving appreciation gifts from Junie Foo, SCWO President STRATEGIC REPORTS CORPORATE GOVERNANCE FINANCIAL STATEMENTS
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