Environmental Managing Climate Change Potential impacts of climate-related risks and opportunities assessed across the portfolio were identified under the different scenarios. CICT faces more exposure to physical risks under the 3°C scenario in the long term relative to transition risks as minimal transition policies are expected to be in place and the development of low-carbon technology or related market changes may be slow. Conversely, under the 1.5°C and 2°C scenarios, CICT faces higher levels of transition risks as more stringent climate-related policies are expected to be introduced and implemented. The insights on both quantitative and qualitative assessments of the risks identified provide a basis for the next steps in understanding the severity of risk impacts across time horizons. The outcomes of the 2022 climate scenario analysis for CICT’s portfolio and the mitigating measures which are both applicable to CICT in 2024 can be found in CICT’s Sustainability Report 2023 and on CICT’s website. While the climate scenario analysis for physical risk indicated that CICT’s properties had no risk of fluvial flooding, we recognise that intense or prolonged rainfall can cause flooding in certain low-lying areas of Singapore. This reinforced the need for proactive measures. A case study on how we safeguard our properties with flood prevention measures is shared on CICT’s website. We are also engaging our tenants to identify climate-related opportunities. As an ongoing process, CICT, alongside CLI, will review and update, if appropriate, the processes associated with risk management in order to account for the identified material environmental and climaterelated risks. CATEGORIES OF SCOPE 3 EMISSIONS For this Report, CICT expanded its Scope 3 reporting to four Greenhouse Gas Protocol’s Scope 3 categories. Category 13 Downstream Leased Assets accounted for 75% of CICT’s Scope 3 emissions This was followed by Category 3 Fuel and Energy-related Activities of 14%,Category 5 Waste Generated in own Properties of 10%, Category 2 Capital Goods (construction activities) of 0.93%. Category 6 Business Travel accounted for less than 0.07%. For more information, please refer to the Key ESG Performance Summary (Environmental) on CICT’s website. Cat 2 Capital goods (construction activities) Cat 3 Fuel and energy-related activities Cat 5 Waste generated in own operations Cat 6 Business travel Cat 13 Downstream leased assets 0.93% 14% 10% 0.07% 75% 126,687 tCO2e For Scope 3 emissions, CICT aims to conduct a comprehensive review to better track and disclose the material Scope 3 emissions. CICT will continue to work closely with its value chain, especially tenants and suppliers, to decarbonise. BUILDING CLIMATE RESILIENCE Aligned with CLI’s’s science-based target, CICT commits to reducing its absolute Scope 1 and 2 GHG emissions1 by 46% by 2030 from a 2019 baseline. This target is in line with the goals of the Paris Agreement to keep global temperature rise to 1.5 C in this century. CICT is also committed to Net Zero2 for Scope 1 and 2 emissions by 2050. Scope 3 Categories LOW LOW LOW HIGH Fuel and Energyrelated Activities Waste Generated in Own Operations Business Travel Downstream Leased Assets Materiality based on CICT’s 2024 Footprint Inclusion in 2024 Reporting Scope 1 This refers to gross greenhouse gas emissions. For more information on greenhouse gases covered by this target, please refer to the GHG Emissions Data Methodology. 2 This refers to net greenhouse gas emissions. For more information on greenhouse gases covered by the target, please refer to the GHG Emissions Data Methodology. 20 CapitaLand Integrated Commercial Trust
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