Sustainability Approach
MIT’s approach to sustainability is firmly grounded in strong and effective governance provided by the Board.
The Board is supported by several committees, which oversee the implementation and operationalisation of the Board’s sustainability plans. These committees comprise a wide range of roles and functions, which allow for effective oversight of MIT’s sustainability performance and progress. MIT’s wider sustainability governance structure includes representatives from both the Manager and the Sponsor, which ensures overall alignment with the Mapletree Group’s sustainability ambitions.
Sustainability Governance
To assist the Board in overseeing its sustainability strategy, MIT’s wider sustainability governance structure comprises several other committees and includes representatives from both the Manager and the Sponsor.
The wide range of roles and functions incorporated into the Manager’s sustainability governance structure ensures effective oversight of sustainability target setting and performance evaluation.
Board of Directors of Mapletree Industrial Trust Management Ltd.
- Overseas sustainability strategy and sustainability reporting
- Approves and monitors progress of sustainability targets and performance
- Receives updates on cirtical ESG issues
- Determines risk strategy and governance, including those related to climate-related risks and opportunities
CEO of Mapletree Industrial Trust Management Ltd.
Mapletree Group’s Sustainability Steering Committee (“SSC”)
- Co-chaired by Deputy Group CEO and Group Chief Corporate Officer (“CCO”) of Mapletree Group
- Spearheads the development of policies and initiatives that are aligned to Mapletree Group’s sustainabilit strategy
- Sets targets and drives sustainability initiatives
- Evaluates management approach to assess the effectiveness and relevance of existing policies and measures
Sustainability Representatives
Mapletree Group’s Sustainability Working Committee (“SwC”)
- Comprises representatives from various business units and corporate functions
- Implements, executes, and monitors sustainability plans, policies and practices
Country ESG Committees
- Champions and supports sustainability initiatives in each country where MIT operates
Materiality
The Manager recognises that a meaningful sustainability approach involves understanding stakeholders’ key concerns and identifying and prioritising the matters that are most relevant to its business and stakeholders.
As part of a periodic review of its material topics, the Mapletree Group and REITs conducted a materiality reassessment to update some of the material topics and to align with evolving stakeholder expectations. This involved a double materiality assessment and engagement of key stakeholder groups, which included employees, suppliers, tenants, contractors, and investors. The engagement questionnaire covered both impact and financial materiality, which is in alignment with global best practices.
Materiality Reassessment Process
The materiality reassessment reaffirmed the relevance of most of MIT’s current material topics and highlighted new and emerging material topics that are becoming increasingly important to MIT’s key stakeholder groups. Due to the correlation of two of the governance topics – “Ethical Business Conduct” and “Compliance with Laws and Regulations”, MIT has combined them into one material topic as “Ethical Business Conduct and Regulatory Compliance”. Rapid technological advancements has heightened cybersecurity and data privacy concerns among key stakeholder groups. This was identified as a new material topic in the materiality reassessment exercise.
The Manager will continue to engage its stakeholders to periodically assess the relevance of the various material topics amid the evolving ESG landscape.
The material matters, targets and performance are summarised here.
A summary of Mapletree Group’s Environmental, Social and Governance-related policies can be found here. You may also read the summary in Chinese, Japanese and Korean.
Net Zero Progress
In line with the Mapletree Group, MIT reaffirms its dedication to the principles outlined in the Paris Agreement and Singapore’s net zero emissions ambitions. The Mapletree Group’s Net Zero 2050 Roadmap serves as a guiding framework for the organisation to achieve absolute net zero emissions by 2050. Carbon credits for residual emissions will be evaluated and tapped at a later stage when necessary for the organisation to achieve net zero. In its journey towards net zero, MIT, like many other organisations, faces constraints and limitations in striving for the ideal outcome. The lack of control and influence over value chain emissions by stakeholders such as tenants, suppliers, contractors and service providers make targets far-reaching. Nevertheless, the Mapletree Group has identified various levers and strategies that will advance its decarbonisation effort.
Our Net Zero Commitment
Sustainability Highlights
28.9%
reduction in average landlord building electricity intensity
37.8%
reduction in Scope 2 greenhouse gases emissions intensity for Singapore properties from FY19/20
4,106 kWp
total solar generating capacity installed across six property clusters
ISO 14001:2015
certification attained for the Environmental Management System
2
properties attained WELL Health-Safety Rating in North America
3
recertifications of BCA Green Mark GoldPlus and Gold Awards
Top 10
companies in Singapore for Gender Equality in 2024 by Equileap
S$10,935
raised from MIT CSR initiative
52.5 hrs
of average training hours per employee
100%
of employees received professional training relating to ESG topics
68.8%
of management positions held by women
42%
women representation on the Board
A
GRESB Public disclosure
BBB
MSCI ESG Rating (Upgraded from BB rating)
67%
independent directors on Board
0
material incidences of
non-compliance with relevant laws and regulations
12.4
Low Risk
Morningstar Sustainalytics ESG Risk Ratings
0
incidences of non-compliance with anti-corruption laws and regulations
Learn More in Our Latest Sustainability Report
Anchored in Strength
