OUR ESG APPROACH Environmental, Social and Governance Report 2023 9 ESG @ ESR ESG considerations are integrated into every aspect of our business through proactive decision-making. We strive to achieve our ESG objectives while keeping in mind our stakeholders’ expectations and incorporate ESG factors into our business operations. Sustainability considerations are built into our core business activities, including investments, fund management and New Economy development through implementing best practices, setting up goals and monitoring performance. We seek to facilitate continuous improvement across each market where we operate and throughout each stage of the whole asset life cycle. A comprehensive ESG investment checklist, approved by the Investment Committee, was established in January 2022. This checklist is an assessment of ESG requirements by fund investors covering climate-related risks, building certifications, renewable energy adoption, indoor environmental quality, material sourcing and sustainable procurement, building technical assessments and environmental management systems, energy, water and waste management efficiencies and occupier considerations, amongst other factors, where applicable. Through this checklist, the Group is able to integrate ESG considerations in its due diligence for better decision making and risk management. In addition, ESR utilises a proprietary database for climate risk assessments in accordance with the requirements outlined by the International Sustainability Standards Board (“ISSB”)’s International Financial Reporting Standards (“IFRS”) S2, which is built upon the recommendations of the Taskforce on Climate-related Financial Disclosures (“TCFD”) Framework. Third-party consultants are appointed to conduct specific ESG due diligence including soil and site studies for construction and industrial waste management channels. INVESTMENT IDENTIFICATION MONITORING & REPORTING DUE DILIGENCE PERMIT APPROVALS ASSET DEVELOPMENT ASSET MANAGEMENT Preserved forest area at ESR Yokohama Sachiura Distribution Centre 1, Japan
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