Managing ESG factors is an integral part of Elite Commercial REIT’s corporate governance practices. Therefore, ESG, including environmental risk management, has Board-level oversight.
The Board of Directors of the REIT Manager (the “Board”) determines the materiality of ESG factors, considers climate-related risks and opportunities, oversees the management of ESG performance and has ultimate responsibility for sustainability reporting. The Manager is responsible for implementing, managing and monitoring the material ESG issues and targets and providing regular updates to the Board.
The Board has constituted a high-level Sustainability Committee (“SC”) to drive sustainability performance. The SC is chaired by the Independent Board Chairman. SC members include an Independent Director, a Non-Independent Director, Chief Executive Officer, Chief Investment Officer, Chief Financial Officer, and Assistant Vice President of Investor Relations.
Supervised by the Board, the SC is responsible for developing, managing, implementing and monitoring ESG strategy to address material sustainability risks and opportunities to create lasting value for all stakeholders. The SC considers stakeholder concerns and expectations in its strategy.
A Sustainability Working Team (“SWT”) presided by the Chief Executive Officer (“CEO”) assists the SC. The SWT comprises representatives from Investor Relations, Asset Management, Finance and Compliance functions. The SWT is responsible for implementing sustainability strategies and collecting ESG performance data from various internal stakeholders for reporting.
The Board is pleased to present Elite Commercial REIT's
2nd sustainability report.
The Board recognises that sustainability is an essential part of good governance and acknowledges its stewardship duties over Elite Commercial REIT. It remains steadfast in building a sustainable and resilient REIT, with the aim of creating value for our Unitholders and stakeholders.
The Board actively promotes good corporate governance, risk management, diversity, ethical business conduct, responsible business practices, and environmental and social stewardship. The Board considers climate-related risks and opportunities to develop appropriate strategies.
The Board determines material ESG factors and considers them in the REIT’s sustainability and business strategy. It oversees the management and monitoring of sustainability issues through periodic updates from the Manager.
The Board has reviewed and approved this sustainability report.