Sustainability Governance The CLI Board, management, and staff operate within a robust governance framework that blends high-level oversight by CLI Board with active management and staff involvement. The Manager aligns with CLI Group’s sustainability governance structure, established to oversee and implement group-wide sustainability initiatives. Key elements of this framework include: CLI Board and Board Committees • The CLI Board and its Executive and Sustainability Committee (ESC) are responsible for overseeing sustainability strategies and goals across the CLI Group, including CLAR. This includes managing climate-related risks and opportunities, providing guidance and tracking progress towards sustainability objectives. • The ESC is supported by the CLI Group Sustainability Office and various work teams comprising representatives from CLI business units and corporate functions to drive the implementation of sustainability initiatives. The Board of the Manager Guided by the CLI Group, the Board is responsible for embedding sustainability into CLAR’s strategic planning and operations, while overseeing key aspects of ESG. The Board ensures effective management and monitoring of CLAR’s ESG impacts, which include: • Integrating sustainability risks and opportunities into the Enterprise Risk Management (ERM) Framework, and setting CLAR’s risk appetite • Monitoring evolving sustainability landscape and considering ESG factors in property investment evaluations and strategy • Overseeing sustainability initiatives and regularly reviewing CLAR’s ESG performance • Approving material ESG topics and the sustainability report • Ensuring appointed Directors possess or acquire relevant sustainability expertise and participate in mandatory sustainability training sessions as per SGX-ST’s Listing Rules. Sustainability Committee (SC) of the Manager The SC, chaired by the Manager’s Chief Executive Officer (CEO), drives CLAR’s sustainability agenda at the REIT level. Its responsibilities include: • Formulating, overseeing, and implementing CLAR’s sustainability objectives, strategies, and initiatives • Establishing sustainability targets for CLAR • Reviewing disclosures in the annual SR • Providing recommendations on ESG matters to the Board for approval Sustainability Working Committee (SWC) of the Manager The SWC, led by the Chief Financial Officer (CFO), plays a key role in supporting the SC by translating sustainability policies into operational actions. Comprising representatives from multiple functions, the SWC ensures best practices are consistently applied across CLAR’s portfolio while remaining aligned with CLI’s overall strategic direction. Its responsibilities include tracking the progress of operational teams towards achieving sustainability targets and providing regular updates on ESG performance to the SC. 14 Includes EHS Internal Audit Committee and Environment Tracking System (ETS) Committee. 15 Including climate-related risks and opportunities. 16 SWC includes representatives from the Manager's various departments, as well as the Singapore Property Manager, International Asset Managers, Capital Markets, Investor Relations and Group Sustainability functions from the Sponsor. Staff Sustainability work teams include BU representatives Chairman: CEO Serves as sustainability champion, and is accountable for CLAR’s ESG performance Sustainability Working Committee (SWC)16 Representatives from Various Functions (Headed by the Chief Financial Officer) Committee Members: Management Team Members • Portfolio Management • Investment • Finance, Risk, & Sustainability Board of the Manager The Manager’s Sustainability Committee (SC) (Established in 2020) Provide Boardlevel strategic oversight of ESG policies and integration Provide senior management oversight of ESG implementation15 Drive implementation of initiatives under ESG pillars15 CLI Board of Directors Executive and Sustainability Committee (Board Committee) CLI Leadership Council (Comprising Senior Management) Various Sustainability Work Teams/ Committees comprising Business units and corporate departments covering Environment, Health and Safety14 Investment, Asset Management Enterprise Risk Management Stakeholder Engagement Innovation Human Resource, Group Procurement, others CapitaLand Ascendas REIT 06
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