The Manager
The Manager
Sustainability

FY20/21 Sustainability Highlights

 

 

Board Statement

We are pleased to present MLT’s Sustainability Report (“SR”) for the financial year ended 31 March 2021 (“FY20/21”). This report captures our overarching approach towards material sustainability matters, as well as our progress towards meeting our sustainability goals during the year. 

We believe that businesses can be a powerful force for good, enabling good ethical and sustainable business decisions that create long-term value for all stakeholders. We have committed ourselves to understanding, managing and disclosing our impacts on key environmental and social aspects throughout our business. By progressively implementing sustainable practices across our operations, empowering individuals, enriching communities and being prudent in resource use, we endeavour to create a lasting and positive difference where we operate. 
Our sustainability efforts are guided by our Sponsor, Mapletree Investments Pte Ltd (“Sponsor”, “Mapletree Group” or the “Group”) and specifically by the Sponsor’s Sustainability Steering Committee (“SSC”) and management. In deciding the material sustainability matters to be managed, the Manager has additionally considered MLT’s unique operating profile and critical sustainability challenges within the global logistics industry. We have reviewed and endorsed the material sustainability matters for reporting in FY20/21 and are pleased that all targets set for last year were achieved. 

The COVID-19 crisis has pushed sustainability to the forefront and added a new sense of urgency to addressing environmental, social and governance (“ESG”) concerns. ESG initiatives not only make a positive contribution to the environment and society but are now increasingly seen as critical for building a resilient and successful business. Given the immense health and economic challenges posed by the COVID-19 pandemic, we have strengthened the focus on the social and economic dimensions of our sustainability effort.

Our immediate priority at the start of the COVID-19 outbreak was to ensure the health, safety and wellbeing of our employees, tenants and stakeholders. The activation of Mapletree’s Business Continuity Plan has enabled us to provide a safe working environment for our employees, while we implemented precautionary measures to safeguard the health and safety of frontline workers at our warehouses. 

Equally important is our commitment to support our tenants through these challenging times. With a focus on building long-term relationships, we worked closely with our tenants who have been negatively impacted by the pandemic to provide support and relief measures in a targeted manner, including granting of rental rebates and deferrals. At the same time, we continued to make progress on the environmental dimension of our sustainability effort. In this regard, we are pleased to share with you these latest developments: 

  • Set long-term targets to reduce energy intensity across our Singapore and Hong Kong SAR portfolios, and to double our solar generating capacity by 2030
  • Realised an important step in sustainable finance with our first green loan to exclusively finance or refinance eligible green projects 
  • Expanded our environmental reporting scope to cover six of nine markets of operations 
  • Committed to roll out a tree-planting initiative in our operating markets for carbon sequestration from FY21/22

In FY21/22, we will be participating for the first time in the GRESB Real Estate Assessment, a global ESG performance benchmark for real estate and infrastructure investments. ESG issues have become more important for investors and we believe this assessment will not only measure our performance against our industry peers, but also help us to elevate our standards in the long term. 

As we look forward to a gradual economic recovery in 2021, we recognise that the environment remains volatile and uncertain due to the ongoing pandemic. We continue to be vigilant in monitoring the situation to ensure minimal disruptions to the business, while prioritising the wellbeing of our stakeholders. 

We would like to thank our staff, partners and all other key stakeholders for their support in our sustainability journey. Sustainability will remain at the heart of our business, driven by our commitment to continually improve on our performance and our endeavour to deliver a sustainable future for all. There is a lot more to do, and we look forward to your continued support. 

The Board of MLTM

To access the full Sustainability Report, please click here.



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