At Elite Commercial REIT, ESG, including environmental risk management, has Board-level oversight as an integral part of the overall corporate governance.
The Board provides strategic direction for identifying, managing, and implementing material ESG factors, including environmental issues concerning climate-related risks and opportunities. The Board also reviews and approves sustainability reporting.
The Board is assisted by the Sustainability Committee ("SC"). The SC is chaired by the Independent Board Chairman. Other members of the SC include an Independent Director, a Non-Independent Director, Chief Executive Officer, Chief Investment Officer, Chief Financial Officer, and Assistant Vice President of Investor Relations.
SC is responsible for developing, managing, implementing and monitoring ESG strategy under the Board's supervision to address material sustainability risks and opportunities to create lasting value for all stakeholders.
The SC is supported by a Sustainability Working Team ("SWT") presided by the Chief Executive Officer ("CEO") and comprising 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
1st sustainability report.
The Board accepts its stewardship duties over Elite Commercial REIT and remains steadfast in building a sustainable and resillient REIT with the aim of creating value for our unitholders and stakeholders.
The Board is committed to promoting a robust corporate governance, risk management, diversity, ethical business conduct, responsible business practices and environmental stewardship.
The Board assesses and considers ESG issues. including climate-related risks and opportunities, in the REIT's sustainability and business strategy. It determines the material ESG issues and oversees the management and monitoring of sustainability factors through periodic updates.
The Board has reviewed and approved this sustainability report.