The Manager
Sustainability

​Board Statement

Dear Stakeholders,

The COVID-19 pandemic profoundly affected almost all sectors of the global economy and society. The economic fallout from the pandemic has been uneven and posed challenges to our operating environment amid unprecedented global travel restrictions and border closures. We believe it is imperative for us to act decisively and support our stakeholders during this challenging period. We gave rental reliefs of about S$12.7 million to support our tenants in FY20/21, which included MIT’s COVID-19 Tenant Assistance and Relief Programme and mandated rental reliefs. We gave priority to SMEs affected by lower business volumes and supply chain disruptions. Additional support measures such as using cash security deposits for rents due and restructuring of leases were also made available to tenants on a case-by-case basis.

We have also stepped up our efforts to support the local communities. Our ‘Pack a Bag’ CSR initiative raised S$7,350 from our employees for 71 beneficiaries from Children’s Wishing Well and Thye Hua Kwan Family Service @ Tanjong Pagar. The proceeds were used to purchase food bags with daily food necessities for children from Children’s Wishing Well and new backpacks with essential school supplies for children from Thye Hua Kwan Family Service @ Tanjong Pagar.

Our Sponsor, Mapletree Investments Pte Ltd (the “Mapletree Group”) donated over 2 million disposable medical masks to various frontline agencies, which helped to alleviate the mask shortage situation in countries that it operates in. In addition, employees of the Mapletree Group voluntarily contributed their Solidarity Payment from the Singapore government to the Mapletree Community Sharing Fund. Over S$85,000 was collected to support more than 180 employees of tenants and service providers working at the Mapletree Group’s retail properties.

Even during this period of uncertainty, our top priority remains supporting the well-being of our stakeholders and managing risks. As Singapore imposes additional restrictions under Phase 2 (Heightened Alert), we have transitioned to work-from-home arrangement as the default. We have provided masks and hand sanitisers to all employees as well as put in place remote working tools to help them stay productive and connected. To protect our employees and tenants, we implemented various precautionary measures, which included temperature screening, safe distancing guidelines and SafeEntry digital check-in system.

Aside from the continued adherence to health and safety measures, we have implemented the Pandemic Preparedness Plan, which covers the response plan prior to and during a pandemic. This will help us to remain prepared and pragmatic as the situation quickly evolves.

Despite the challenges from the pandemic, it has also reinforced the importance of sustainability issues. In FY20/21, we made steady progress in advancing sustainable practices. Some of our key achievements included: 

  • reduction of average building electricity intensity by 11.5% from FY19/20;
  • reduction of average building water intensity by 16.3% from FY19/20;
  • re-certification of BCA Green Mark Gold Awards for K&S Corporate Headquarters and 18 Tai Seng;
  • first foray into renewable energy with the installation of solar panels at the rooftops of Serangoon North Cluster and K&S Corporate Headquarters;
  • inaugural S$300 million sustainability-linked facility; and
  • participation of 76 employees in MIT’s ‘Pack a Bag’ CSR initiative.

The Board reviews MIT’s material sustainability matters against stakeholders’ expectations, the changing business landscape and emerging global sustainability trends to ensure their relevance. We consider them in the development of the Manager’s sustainability strategy, which includes the management and monitoring of material sustainability matters as well as setting targets for the forthcoming financial year.

Our approach towards sustainability is aligned with our Sponsor. The Board is supported by the Sustainability Steering Committee, which comprises the CEO of the Manager, and representatives from the Sponsor’s senior management team.

MIT’s fifth sustainability report is prepared in accordance with the Global Reporting Initiative (“GRI”) Standards – Core and the SGX-ST Listing Rules (711A and 711B).

We will be making our inaugural submission to GRESB Real Estate Assessment 2021, an ESG benchmark for the real estate sector. As an internationally recognised benchmark used to evaluate sustainability performance against peers, our inaugural submission to GRESB Real Estate Assessment 2021 signifies our commitment to improve ESG disclosure.

Sustainability forms an integral part of our corporate culture and underpins the business strategy and operations of MIT. We remain committed to conducting our business in an environmentally and socially responsible manner while maintaining high corporate governance standards to enhance the resilience of our business.

 

Board of Mapletree Industrial Trust Management Ltd.

18 May 2021

The latest Sustainability Report can be found here.

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