PublicationsIntegrated Sustainability Reports

Dear Stakeholders,

In 2022, we continued our efforts in improving ESG performance to create long-term economic value for our stakeholders, and strived to translate our sustainability ambitions into actions that contribute to the targets set out under CapitaLand’s 2030 Sustainability Master Plan (SMP). This year, we are pleased to share a progress update on our climate-related disclosure in line with TCFD recommendations in this Report.

As we continue to rejuvenate our portfolio, sustainability remains at the core of what we do. This commitment can be seen through our continuous effort to step up our efforts to contribute to the environmental and social well-being of the communities that we operate in.

In 2022, we were focused on enhancing CLCT’s environmental performance by attaining green building certificates and implementing green leases across our portfolio. During the year, we obtained LEED Gold certification for CapitaMall Wangjing and Rock Square. CLCT also made significant progress by implementing green leasing for our retail and business parks from 4Q 2022.

Partnering with our network of financial institutions, CLCT obtained additional S$300 million in sustainability-linked loans during the year, bringing our total sustainability-linked loans to 13% of our total loans outstanding in FY 2022.

CLCT is the leading REIT in Singapore to pioneer sustainability-linked loans for a China portfolio. CLCT will continue exploring ways to enhance its financial flexibility and resilience through sustainable financing instruments, demonstrating the REIT’s commitment towards responsible growth.

CLCT participates in industry benchmarks, such as GRESB, which assesses the sustainability performance of real estate portfolios around the world. In 2022, we received a 2-star rating in the GRESB Assessment 2022 and maintained an “A” for GRESB Public Disclosure 2022.

We embrace diversity, equality, and inclusivity. As of 2022, our female representation on Board has increased to 25.0%, up from 11.1%. Additionally, we have improved gender diversity within our managers and property management teams in Singapore and China.

Sustainability continues to underpin our strategies at CLCT. Our ESG targets are weaved into investment and business decisions while we continuously improve our sustainability performance and step up our sustainable financing efforts. As we progress to greater heights, we remain committed to contributing to the environmental and social well-being of our communities.

Tan Tze Wooi

Chief Executive Officer

CLCT is Singapore’s largest China-focused REIT. This is CLCT’s second Integrated Sustainability Report (ISR), and it aims to provide a comprehensive overview of the organisation’s Environmental, Social and Governance (ESG) performance. Published on 14 April 2023, this Report is available on https://investor.clct.com.sg/isr.html.

INTERNATIONAL STANDARDS AND GUIDELINES

This Report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards 2021, an internationally recognised sustainability reporting framework that covers a wide range of disclosures that are relevant to CLCT. The ISR is in compliance with SGX-ST’s Listing Manual Rules 711A and 711B.

Following the Integrated Reporting (IR) Framework of the Value Reporting Foundation (VRF), this Report incorporates elements of the framework and is aligned with Sustainable Development Goals (SDGs) of the United Nations (UN). The VRF has been incorporated into the International Financial Reporting Standards (IFRS) Foundation to support the new International Sustainability Standards Board.

This Report also outlines CLCT’s risk management framework based on the Monetary Authority Singapore (MAS) Guidelines on Environmental Risk Management for Asset Managers. Together with our Sponsor, CLI, CLCT will continue to adopt a progressive approach in improving its climate-related disclosures based on the 11 recommendations from the Task Force on Climate-related Financial Disclosures (TCFD).

REPORTING SCOPE AND PERIOD

This Report discloses information on the 20 properties within CLCT’s portfolio, unless otherwise stated, for the financial period from 1 January 2022 to 31 December 2022 (FY 2022). As at 31 December 2022, the portfolio comprised 11 retail properties, five business parks and four logistics parks, primarily located in Tier 1 and 2 cities in China.

CLCT adopts the Greenhouse Gas (GHG) Protocol Corporate Standard in disclosing performance data for Energy, GHG, Water and Waste of our 20 properties. As such, CLCT only reports the assets that are under the Manager’s operational control. There is no restatement of information this year.

Retail

• CapitaMall Xizhimen
• Rock Square
• CapitaMall Wangjing
• CapitaMall Grand Canyon
• CapitaMall Xuefu
• CapitaMall Xinnan
• CapitaMall Nuohemule
• CapitaMall Yuhuating
• CapitaMall Aidemengdun
• CapitaMall Qibao
• CapitaMall Shuangjing

Business Park

• Ascendas Xinsu Portfolio
• Ascendas Innovation Towers
• Ascendas Innovation Hub
• Singapore-Hangzhou Science & Technology Park (Phase I)
• Singapore-Hangzhou Science & Technology Park (Phase II)

Logistics Park²

• Shanghai Fengxian Logistics Park
• Kunshan Bacheng Logistics Park
• Wuhan Yangluo Logistics Park
• Chengdu Shuangliu Logistics Park

The Manager and property management teams are responsible for CLCT’s performance and oversee its daily operations. We identify our Manager and property management teams as employees of the REIT, while members of the Board (which is part of the Manager) are independent and not be considered as employees of the REIT.

CLI has engaged an external assurer to carry out an independent assurance over its performance data for FY 2022, and CLCT’s performance data has been verified as part of the Sponsor’s external assurance engagement. The report will continue to be externally assured to AA1000 Assurance Standard, and will cover the Group’s global portfolio and employees, including its listed REITs and business trusts. The scope of the assurance will cover CLCT’s portfolio.

This Report is published annually and encouraged to be read with CLCT’s Annual Report 2022 for a comprehensive view of its business and performance. In line with CLI’s continued commitment to environmental sustainability, no hard copies of this ISR have been printed.

For any further inquiries, please contact:

Ms Nicole Chen
Head, Investor Relations
Tel: 6713 2888
Email: ask-us@clct.com.sg
Website: www.clct.com.sg