An innovative culture enables our business to stay relevant and meet the expectations of our stakeholders. We encourage innovation across our business through partnerships and organic innovation in our pursuit to cultivate a customer-centric and collaborative mindset. In addition, we also leverage our innovative culture to testbed new business models and differentiate ourselves as an employer of choice.

Our impact as a real estate business extends beyond our operations. We are aware of our role in influencing our supply chain to create sustainable value and encourage them to consider environmental, social and governance issues in their own businesses. Our Group Responsible Sourcing Policy outlines our approach towards responsible sourcing and establishes the expectations we have of all our suppliers.

At Frasers Property, we want each employee to have the best experience possible. Diversity, Equity & Inclusion (DEI) are central to achieving this. Guided by our Purpose, we are creating, inspiring and nurturing an inclusive culture that unlocks the power of diverse teams to drive our organisation forward. Our values drive everything we do, which are core to creating safe places where everyone belongs, is mutually respected and feels empowered to be authentic at work.

To future-proof our business, it is integral to comprehensively assess environment, health and safety and social risks associated with our business. That is why we have set ourselves the goal to establish holistic internal policies to govern and guide management across our focus areas. We have built a framework of robust corporate policies to govern our business conduct and foster a positive corporate culture.

At Frasers Property, we encourage the efficient use and management of resources to curb waste generation. We are aiming to expand the coverage of waste generated and recycled data across our operating properties and development projects. We are also on track to phase out single-use plastics in rooms and food and beverage of our owned and managed hospitality assets.

We believe promoting the health and well-being of our stakeholders leads to increased productivity and work satisfaction and reduced workplace risks associated with safety. As a business, we prioritise our employees' well-being and take active steps to nurture a caring and inclusive workplace.

We take a strategic and multi-pronged approach in our investment decision-making process to deliver long-term economic performance. Our goal is to finance majority of our sustainable asset portfolios with green and sustainable financing by 2024.

Water is a key resource in various aspects of our real estate operations. We are committed to effective water management and have progressed in developing best-practice water standards across our key operations. We also aim to expand water consumption data coverage for landlord- and tenant-controlled areas in operating assets.

A successful real estate development goes beyond design and layout. It also considers the community planning and transformation to bring people together for long-term health and sustainability. We aim to create healthy, vibrant places for social connectedness and community resilience. We strive to build communities that thrive as places to live, work and play, working in partnership with local communities and non-profit organisations.

Climate science and growing climate evidence show the need for businesses to identify and manage climate risks in their operations. Without proper and early mitigation, climate risk will eventually affect a business' viability and valuation. To make informed decisions, alll business units and REITs in FY22 performed a gap analysis and identified initiatives aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. This puts us in good stead to implement asset-level adaptation and mitigation plans in line with the TCFD framework by 2024.

With real estate accounting for 40% of global carbon emissions, there is a need for us to pursue solutions that maximises energy efficiency, expand the use of renewable energy and reduce embodied carbon. We adopt a partnership-based approach towards achieving net-zero carbon, tapping new technology solutions such as district cooling and renewable energy sources.

We invest in learning and development programmes to equip our employees with the right skill sets and capabilities to build and empower a future-ready workforce. Our aim is to maintain an average of at least 30 hours of learning per employee and embed a culture of continuous learning to build a resilient organisation.