CONVERSATION WITH CEO an independent assessment for our framework and obtained a Second Party Opinion from Moody’s Investor Service. This opinion provided an additional layer of validation and credibility to our framework, reinforcing our commitment to maintaining high standards of accountability and disclosure. Recognising that sustainability is a continuous journey, we kept up our momentum of attaining green certifications for CLCT’s assets. In 2023, we obtained new LEED Gold certification for our retail and business park assets - CapitaMall Xizhimen, Ascendas Innovation Towers, Ascendas Innovation Hub and SingaporeHangzhou Science & Technology Park Phase I5. Together with the certifications received for CapitaMall Wangjing and Rock Square in 2022, around 36%6 of CLCT’s portfolio is LEED Gold certified, putting us on track to achieve green certifications for all our buildings by 2030. At the same time, we have implemented a green lease programme across all properties7 managed by CapitaLand Investment Limited (CLI), which seeks to align tenants with our sustainability goals. What does CLCT expect in the road ahead? Over the years, we have consistently positioned ourselves to be in line with China’s economic and development plans. With the Chinese government’s focus on promoting highquality development while driving domestic consumption, we have proactively shaped our portfolio to create a diversified multi-asset portfolio that comprises retail properties, business parks and logistics parks. In the near future, we will continue to adapt and build portfolio resilience and diversification, with a focus on enhancing existing asset quality and income streams. In December 2023, we announced the divestment of CapitaMall Shuangjing, which was completed in January 2024. We also ceased operations at CapitaMall Qibao ahead of the mall’s lease expiry in January 2024. With the exit of these two matured assets from our IPO, we have monetised 7 noncore and mature assets since 2017, including 6 out of 7 IPO assets. We will continue to work towards a well-balanced and resilient portfolio and press on with our reconstitution Q A 5 Attained LEED Gold status for Block 1 to 3 of Singapore-Hangzhou Science & Technology Park Phase I – the remaining blocks are LEED Gold certified since 2014. 6 By portfolio gross floor area excluding carpark space. Cover CLCT properties managed by CLI. 7 Refers to green leases implemented for new and renewed leases. Cover CLCT properties managed by CLI. Singapore-Hangzhou Science & Technology Park Phase I 22 CAPITALAND CHINA TRUST
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