Managing ESG factors (including environmental risk management) is a critical component of corporate governance at Elite REIT, with Board-level oversight.
The Board of Directors of the Manager (the “Board”) assesses the materiality of ESG factors, evaluates climate-related risks and opportunities, oversees ESG performance management, and holds ultimate responsibility for sustainability reporting. The management of the Manager (the “Management”) is in charge of implementing, managing, and monitoring material ESG issues and targets, and providing regular updates to the Board.
The Board has established a Sustainability Committee (“SC”) to spearhead sustainability performance. Chaired by the Independent Board Chairman, the SC’s members comprise an Independent Director, a Non-Independent Director, the Chief Executive Officer (“CEO”), Chief Investment Officer, Chief Financial Officer, and the Assistant Vice President of Investor Relations.
The SC is tasked with developing, managing, implementing, and monitoring Elite REIT’s ESG strategy to address material sustainability risks and opportunities under supervision of the Board, thereby creating long-term value for all stakeholders. It also takes into account stakeholder concerns and expectations in its strategy.
Supporting the SC is a Sustainability Working Team (“SWT”) led by the CEO. This team comprises representatives from the Investor Relations, Asset Management, Finance, and Compliance divisions. The SWT is responsible for executing sustainability strategies and gathering ESG performance data from various internal stakeholders for reporting purposes.
The SC convenes biannually to assess progress and performance in sustainability, and to receive updates from senior management. Additionally, the committee undergoes an annual review of its sustainability performance and effectiveness.
Board Statement
The Board is pleased to present the third sustainability report for Elite REIT.
Recognising the integral role of sustainability in good governance, the Board acknowledges its stewardship responsibilities for Elite REIT. It is committed to building a sustainable and resilient REIT, aiming to create value for our unitholders and stakeholders.
The Board actively champions good corporate governance, risk management, diversity, ethical business conduct, responsible business practices, and environmental and social stewardship.
The Manager is responsible for ensuring that the ESG factors are monitored on an ongoing basis and properly managed, as well as providing regular updates to the Board.
The Board determines material ESG factors, including climate-related risks and opportunities in the short, medium and long term, and considers them in Elite REIT’s sustainability and business strategy. It oversees the management and monitoring of sustainability issues through periodic updates from the Management.
This sustainability report has been reviewed and approved by the Board.
