63 Environmental, Social and Governance Report 2023 PILLAR 3: CORPORATE PERFORMANCE Corporate Performance The third Pillar of our ESG Framework: Corporate Performance focuses on the corporate performance of our business, in the areas of corporate governance, risk management, responsible investment, disclosure and reporting, and supply chain management. Underpinned by our core value of excellence, ESR is committed to embracing the cornerstones of corporate governance on accountability, transparency, fairness, and integrity. As we continue to enhance synergies across the Group, we strive to create greater value for our stakeholders through our robust governance structure, risk management framework and proactive disclosure practices. Focus Areas Goals Progress Corporate Governance Maintain the highest standards of corporate governance throughout the Group, with strong core values and business ethics. 2030 Roadmap Target: Maintain a strong Corporate Governance culture The Group compliance framework and programme includes 6 core compliance policies that have been revised and approved by the Board in 2023. Following the roll-out of the revised compliance policies, the Group Compliance department has developed training videos and slides which cover key updates and requirements of the policies for compliance by all employees. Key topics include anti-bribery & corruption, business ethics, conflicts of interest, anti-money laundering, employee trading and whistleblowing. All employees have also participated in an annual attestation to indicate that they have read and complied with the related policies. Risk Management Conduct a holistic risk management process to focus on strategic, financial, operational, technology and compliance risks, which cover sustainability and climate change factors, amongst others, to enable more informed business decisions. Completed the refreshed key risk indicators, risk appetite and statements for all Tier 1 Risks for FY2023, including revising the Enterprise Risk Management (“ERM”) Framework Manual, and conducting of ERM training and bottom-up/ top-down risk workshops. Responsible Investment Commit to the UN PRI as a signatory and adopt its investment and asset management policies to enhance transparency and demonstrate our commitment to including ESG factors in investment decision making and ownership. 2030 Roadmap Target: Adhere to UN PRI principles in our investment and asset management policies and practices ESR became a signatory to the United Nations-supported Principles for Responsible Investment (“UN PRI”), reinforcing our commitment to integrating ESG considerations in our investment and asset management processes across the Group. In 2023, the Group embarked on preliminary work in preparation for inaugural mandatory reporting in 2024. This included a self-assessment, business and stakeholders’ engagement, policy, and document enhancements, etc. The Group announced it has closed a total of seven Sustainability-Linked Loans (“SLLs”) worth approximately US$4 billion as at end-2023. To-date, there are in total 10 SLLs raised with a cumulative total amount of US$4.4 billion approximately.
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