CEO Message We are committed to growing CICT responsibly by integrating sustainability into our business approach to create long-term value for our stakeholders. As Singapore's largest REIT and the proxy for Singapore’s commercial real estate, we remain focused on building a resilient and sustainable portfolio for the future through our ESG efforts. In 2024, we made notable advancements in our sustainability journey, guided by our sponsor CLI’s 2030 SMP. This progress is underpinned by the collective efforts of our Board, management and the CICT team. Advancing our decarbonisation efforts On the environmental front, we continued our focus on reducing our carbon footprint, improving energy efficiency, and aligning with global sustainability benchmarks. One key achievement this year was the adoption of CaaS systems at Raffles City Singapore, Plaza Singapura, and The Atrium@Orchard. This initiative is expected to reduce energy consumption across the three properties by over 30% compared to 2023 levels, lower carbon emissions, and support our properties’ green certifications. To date, 100% of our portfolio by GFA is green-rated. In addition, we unveiled CQ @ Clarke Quay following our asset enhancement initiative which included upgraded sustainability features designed to achieve energy savings of approximately 1.03 million kilowatt hours per year on a stabilised basis. This is equivalent to powering the annual electricity consumption of about 240 four-room HDB flats1. CICT continued to be recognised by global sustainability benchmarks for its ESG performance. Notably, CICT maintained GRESB’s highest 5-star rating and was recognised for the first time as a GRESB Global Listed Sector Leader, Regional Sector Leader (Asia) and Regional Listed Sector Leader (Asia) in the Diversified Office/Retail category. These accomplishments underscore our commitment to driving climate action, enhancing operational excellence, and positioning CICT as a sustainability leader in the REIT sector. In FY 2024, CICT increased its green financing with the issuance of S$300 million 3.75% 10-year fixed rate notes and S$200 million 3.30% 10.5-year fixed rate notes in July and October 2024 respectively. The total outstanding sustainability-linked green loans and bonds as at 31 December 2024 were S$4.8 billion (31 December 2023: S$4.2 billion). We recognise the importance of addressing our indirect Scope 3 emissions while continuing to reduce our Scope 1 and 2 emissions. As part of CLI's carbon reduction initiatives, we have conducted a preliminary review to identify material Scope 3 categories across our portfolio. These categories are disclosed in this Report and will guide us in implementing more targeted and impactful decarbonisation measures. Creating positive social impact Beyond environmental performance, CICT is committed to creating vibrant and engaging spaces that enhance the well-being of our tenants, shoppers, and communities. Our properties offers more than functionality, serving as hubs where the community can connect and share experiences. In 2024, we continued to prioritise impactful stakeholder and community programmes, including tenant partnerships, wellness initiatives, and sustainability campaigns, to foster a positive environment and enrich experiences for all. By strengthening relationships and promoting meaningful engagement, we continue to build trust, enhance satisfaction among tenants and shoppers, and contribute as a responsible corporate citizen driving social impact. Continued strong focus on governance We uphold the highest governance standards, prioritising accountability, integrity, and transparency while proactively managing sustainability risks and opportunities in alignment with our overall risk appetite and strategy. By integrating ESG considerations into our decision-making processes, we address potential challenges, capitalise on opportunities prudently, and create long-term value for stakeholders. Our commitment to ESG excellence is reflected in our transparent reporting, which adheres to global frameworks such as the GRI, and UN SDGs. This Report marks our first step in referencing the IFRS Sustainability Disclosure Standards (Standards) issued by the ISSB. CICT is progressively incorporating climate-related disclosures under the Standards, in preparation for the SGX RegCo enhanced sustainability reporting regime, effective from financial year 2025. Reinforcing our position as a responsible leader in the REIT sector, we are proud to have been honoured with the Singapore Corporate Governance Award and the Singapore Corporate Sustainability Award at the SIAS Investors’ Choice Awards 2024. We are committed to enhancing our ESG and reporting efforts and will continue to engage with tenants, suppliers and partners across our value chain to achieve progress. Shaping a sustainable future through innovations, green initiatives and partnerships We crowdsource sustainability innovations globally through platforms such as the CSXC and CIF to accelerate our drive towards the 2030 SMP targets. As at March 2025, nine selected innovations and green initiatives have been implemented at our properties. By collaborating with our partners and tenants on these projects, we foster a culture of environmental responsibility and amplify our efforts through collective action. We will continue to work closely with them to create a positive impact on the environment and the communities where we operate. Sustainability is an ongoing journey and CICT remains steadfast in championing progress through innovation, strengthening stakeholder engagement and implementing impactful initiatives. By maintaining excellence in governance practices while effectively managing risks and opportunities, we strive to continuously improve and shape a more sustainable future for all. Tony Tan Tee Hieong Chief Executive Officer 1 The average household electricity consumption is based on Energy Market Authority’s statistics. 5 Sustainability Report 2024
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