BOARD STATEMENT At CICT, sustainability is at the core of everything we do. We are committed to growing in a responsible manner, delivering long-term economic value, and contributing to the environmental and social well-being of our communities. The material environmental, social and governance (ESG) factors have been identified with set targets for 2030, in alignment with CapitaLand 2030 Sustainability Master Plan (SMP). This will be reviewed by the Board of the Manager of CICT together with management every two years. CICT’s ESG plan steers our efforts on a common course to maximise impact through building a resilient and resource-efficient real estate portfolio, enabling thriving and futureadaptive communities, and accelerating sustainability innovation and collaboration. Ambitious ESG targets have been set by CapitaLand and adopted throughout the organisation including CICT and these targets include carbon emissions reduction targets validated by the Science Based Targets initiative (SBTi). Following the Group’s first scheduled review in 2022, the SMP targets have been revised to include SBTi-approved targets in line with a 1.5˚C scenario1, Net Zero commitment, and enhanced focus on social indicators. TheBoardoftheManagerofCICT is responsible for overseeing the Trust’s sustainability efforts and takes these ESG factors into consideration in determining its strategic direction and priorities. The Board also approves the executive compensation framework based on the principle of linking pay to performance. The Manager’s business plans are translated to both quantitative and qualitative performance targets, including sustainable corporate practices. CAPITALAND 2030 SUSTAINABILITY MASTER PLAN CICT’s sustainability targets are set, and efforts are guided by CapitaLand Investment (CLI) as a CLIsponsored real estate investment trust (REIT). The Manager and the Property Managers who oversee the operations of CICT abide by CapitaLand’s sustainability framework, policies and guidelines, as well as ethics and code of business conduct. CICT is alignedwith CapitaLand's 2030 SMP unveiled in 2020 to elevate the Group’s commitment to global sustainability in the built environment. The SMP drives CapitaLand’s sustainability efforts in the ESG pillars, enabling the Group to create a larger positive impact for the environment and society. CapitaLand’s 2030 SMP is regularly reviewed where necessary to complement the group’s business strategy and align with climate science. The first scheduled review in 2022 is in progress and the outcome will be published before end-May 2023. COMMITMENTAND INVOLVEMENT OF CLI AND CICTML BOARDS, MANAGEMENTAND STAFF Role of CLI Board, Management and Staff CLI group-wide sustainability management comes under the purview of a CLI Board Committee - the Strategy and Sustainability Committee (SSC). The CLI SSC, chaired by Lead Independent Director, is responsible for overseeing sustainability strategies and goals including providing guidance to management and monitoring progress against achieving the goals of any sustainability initiatives in 2022. It is supported by the Group Sustainability Office and various work teams to drive continued progress and improvement in the areas of ESG. The work teams comprise representatives from CLI business units and corporate functions. This governance is cascaded from the Group level to CICT level through CICT’s Sustainability Committee. As Head of the business unit, the CEO of Retail and Workspace, CLI, oversees the Property Managers, which have their own Environmental, Health and Safety (EHS) Committee. The Property Managers have an Engineering, Systems and Sustainability team whose role includes integrating sustainability into operations. SUSTAINABILITY COMMITMENT 1 To operationalise its SBTi-approved carbon emissions reduction target for scope 1 and 2 emissions, CLI is reviewing its carbon emissions intensity reduction targets and other environment targets, including changing reference to 2019 as the baseline year instead of 2008. The targets are being reviewed as part of the scheduled review of CapitaLand’s 2030 SMP in 2022 and will be published before end May 2023. CapitaLand Integrated Commercial Trust 6 Sustainability Approach
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