Environmental, Social and Governance Report 2023 92 ABOUT THIS REPORT ESG Data Summary 3. Directly managed properties reporting this data refer to completed assets in operations which the Group has operational control, including assets acquired or disposed during the year up to the period of effective ownership. For logistics asset class, only the common areas are covered because tenants would manage their own waste disposal. For commercial asset class, the whole building is included in the reporting scope as the Group is responsible for waste management and disposal (including tenants’ waste). Hazardous waste is mainly due to the fused fluorescent light bulbs which have been properly disposed of by the property managers. 4. The intensity calculations for grid purchased electricity, greenhouse gas emissions, water and waste are based on base building consumption for operating assets under our direct control (except for commercial buildings that report waste data on whole building basis) divided by the total GFA of directly managed properties, which include the areas occupied by tenants. Calculated intensity for grid purchased electricity, greenhouse gas emissions, water and waste have all decreased in 2023 due to operational efficiencies, disposal of certain assets, as well as the inclusion of newly completed assets and/or new acquisitions during the reporting year (i.e., fewer months of consumption data and lower occupancy). 5. The emission factors used in the calculations are sourced from the national governments of Australia, India, South Korea, Singapore, Malaysia, Indonesia, UK, US, and New Zealand. For properties held in remaining countries, we used emission factors from the Institute of Global Environmental Strategies (China), Electric Power Council for a Low Carbon Society (Japan), individual local utility companies (Hong Kong) and Carbon Footprint (EU). All selected emission factors are based on the guidance set out by the GHG Protocol. In the reporting year, some of the updated emission factors were lower than that of 2022, reflecting the decarbonisation of the national grids. 6. Certified / rated sustainable buildings and certified / rated “high” sustainable buildings include completed assets that are directly managed by the Group, including single tenanted assets and master leases as at 31 December 2023. This excludes assets disposed during the reporting period. The percentage of certified / rated buildings as at 31 December 2023 is 42.8% (by GFA) and 23.5% (by number of buildings). 7. Refers to the total rooftop solar power capacity installed and fully operational as at 31 December 2023. 8. In China, the landlord has operational control over common areas within certain assets (e.g., logistics parks) even if they are fully leased out to the tenants, i.e., single tenanted or master leases. Thus, the common areas data for both electricity and water are included for these assets. 9. In India, the development assets (i.e., logistics parks) with completed plots or blocks that are operational are included in the data summary. Thus, the landlord consumption data of these completed plots or blocks within these assets are included for reporting. The reported GFA for the sustainable building certifications and ratings, as well as GFA for the directly managed properties reporting the data, cover the entire logistics parks, including plots or blocks which are not yet completed. 10. In South Korea, the landlord has operational control over common areas although the utility bills for electricity and water use are borne by the tenants. For certain properties such as Osan, the grid purchased electricity of the common areas is an estimation by applying a percentage factor on the total GFA of the asset due to the unavailability of the split in GFA between common areas and tenancy spaces. This percentage factor may change year-on-year depending on various factors, such as occupancy. 11. There is no re-statement of the 2022 figures and no change to the methodologies in the data collection and disclosure in 2023, as compared to 2022. 12. For year-on-year comparison with 2022, directly managed properties which the Group has operational control and have two years of like-for-like data were identified. Based on our analysis, there was approximately a 5% decrease in grid purchased electricity consumption and a 1% decrease in water use (i.e., both due to operational efficiencies), with no material fluctuations noted across the markets. 13. There was approximately a 28% increase in waste generation due to LOGOS commencing waste data tracking and collection starting from this reporting period, and some BUs (e.g., ESR China) experiencing uptick in business operations post-COVID in 2023.
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