We aim to deliver financial value and societal benefits by balancing the commercial objectives with the environment and social needs of our stakeholders

At KLCCP Stapled Group, our goal is to conduct our business activities in a socially and environmentally responsible manner. This includes maintaining high standards of conduct for maximising long term value creation, essentially in benefitting our stakeholders.

Our business strategy takes into perspective the risks and opportunities affecting the industry and organisation, while keeping abreast of evolving stakeholder expectations in the discipline of sustainability, such as climate change and social risks including human rights. We are focused in our efforts to address the material sustainable matters of KLCCP Stapled Group across our five priority areas – Corporate Governance, Environmental Stewardship, Security, Safety & Health, Our People and Reliable Partner.

CORPORATE GOVERNANCE

Upholding transparency in our actions and disclosures to ensure the highest standards of governance, business ethics and integrity in our operations

ENVIRONMENTAL STEWARDSHIP

Striving for improved environmental practices and operational sustainability

SECURITY, SAFETY AND HEALTH

Protecting our assets, operating reliably, effectively and efficiently across the Health, Safety and Environment (HSE) social spheres

OUR PEOPLE

Nurturing a diverse and talented workforce to drive business growth strategies

RELIABLE PARTNER

Strengthening financial position, business competitiveness and spurring socio-economic growth


OUR APPROACH

Our business is centered on real estate development, investment and management. We focus on how we manage our operations, mitigate our risks and grow our business to create competitive advantage whilst leveraging on the changes in the external environment, creating long term growth and stakeholder value. This entails maximizing performance of our assets and investments, and managing expectations of our stakeholders, namely our employees, tenants, shoppers, guests, suppliers and contractors.

Our focus on sustainability is shaped by five priority areas reflecting the FTSE4Good themes and indicators for the construction and real estate sector and taking into consideration our unique business requirements, wider industry landscape while being mindful of stakeholder requirements.

OUR SUSTAINABILITY FRAMEWORK

In managing the risks and opportunities which supports the business strategies, goals and aspirations, we developed a Sustainability Framework which encapsulates our principles on sustainability and aligns to our five priority areas. We took into perspective our strategic and operational risk profile and opportunities presented by the changing business environment, particularly in the real estate and construction industry.  Premised on the PETRONAS’ Corporate Sustainability Framework, we adapted it to our context and framed the KLCCP Stapled Group Corporate Sustainability Framework which embodies 8 focused areas, comprising Shareholder Value, Corporate Social Investment, Climate Change, Natural Resource Use, Health, Security, Safety & Environment, Workforce Development, Human Rights and Governance & Business Ethics.




GOVERNANCE STRUCTURE

KLCCP Stapled Group’s Sustainability Governance Structure was established to ensure Board’s oversight on the formulation and execution of sustainable strategies for the organisation. This involved the formation of KLCCP Stapled Group’s Sustainability Steering Committee (SSC) to ensure accountability, oversight and review in the identification and management of sustainability matters within the organization. The SSC has joint chairmanship comprising the Chief Financial Officer and Head of Health, Safety & Environment whilst members of the SSC comprise leaders of diverse areas of expertise covering all facets of KLCCP Stapled Group’s business operations. The SSC is supported by a working committee to ensure sustainability is considered and integrated throughout our business operations.

The Chief Executive Officer (CEO) is responsible for driving the implementation of sustainability strategy for KLCCP Stapled Group and reports the progress to the Boards of KLCCP and KLCC REIT. The Boards represent the highest authority and is ultimately accountable for managing sustainability matters in KLCCP Stapled Group. The governance structure facilitates regular reporting on sustainability matters to CEO with updates to the Boards.


MATERIAL SUSTAINABLE MATTERS

We identify our material sustainable matters by taking into account the potential risks in our business activities in light of the social and environment needs and the economic factors impacting the real estate industry.   Our material areas are also identified based on inputs from both our internal and external stakeholders through observation and enquiries received. An internal materiality assessment is carried out annually to map out our sustainability matters.

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STAKEHOLDER MANAGEMENT

KLCCP Stapled Group recognizes stakeholder management as an important aspect to ensure transparency and accountability. Communication with stakeholders is imperative in understanding and managing their expectations and provide new perspectives in generating positive impact to the organisation. With expectations changing rapidly in the real estate industry, investors, community, regulators and other stakeholders are continuously seeking for greater levels of transparency with respect to the economic, environment and social issues. We continue to engage and manage our stakeholders’ needs and expectations, taking into consideration their viewpoints towards more tangible business value creation.

KLCCP Stapled Group has a diverse group of stakeholders comprising both internal and external stakeholders whom we have been engaging with through the various communication channels to identify and understand the issues that are most important to them.

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