Sustainability Milestones

As a leader in the REIT sector, we recognize the importance of the role we play within the industry. Industry stakeholders are increasingly concerned about sustainability practices and we continue to respond to these expectations in parallel with our own ambitions towards sustainability.

We achieve milestones through the years in our continued learning and driving sustainability initiatives within KLCCP Stapled Group. We will keep advancing our sustainable practices to improve performance and embrace the challenge of stretch-goals for a future-proof sustainable business.

Governance Structure

The Boards of KLCCP and KLCCRM (the Boards) serve as the paramount authority and are accountable for ensuring effective management of material sustainability matters, including climate change, and initiatives within the group, supported by the Board Risk Committees (BRC). Together with the Leadership Team, the Boards take responsibility for the governance of sustainability in setting the Group’s sustainability strategies, priorities, and targets.

Guiding the charge on sustainability strategies for KLCCP Stapled Group, the CEO diligently updates the BRC and the Boards every quarter, seeking their valuable counsel on related matters.

The Sustainability Steering Committee (SSC), responsible for the strategic management of sustainability matters, maintained its structure for the year 2023. Chaired by the Senior General Manager, Group Strategy and Sustainability, the committee includes representation from division heads and operating units, fostering a holistic approach to sustainable practices.

Supported by Group Strategy and Sustainability Division (GSS) and facilitated by the Environmental, Social & Governance (ESG) Department as the secretariat, KLCCP Stapled Group is not just embracing sustainability-it is consistently shaping the future of responsible business practices.

KLCCP Stapled Group Sustainability Governance Structure

Sustainability Framework

KLCCP Stapled Group focuses on a strong commitment to sustainability, integral to our pursuit of strategic excellence and value creation. The Group’s sustainability framework is carefully designed to align with the UN2030 agenda. To reflect the critical dimensions within the agenda, from the perspective of KLCCP Stapled Group, four sustainability lenses were assigned, that addresses 13 prioritised material sustainability matters while emphasising contributions to UNSDG and Targets. The framework thrives on close engagement with our stakeholders, while addressing the material sustainability matters in creating an impact within our strategic value creation.

Material Matters

The principle of materiality is becoming the essential filter to determine which ESG indicators will be most significant to stakeholders. In identifying the material matters, we evaluated our sustainability context, stakeholder issues and the associated risks and opportunities for KLCCP Stapled Group to streamline our actions to benefit all stakeholders concerned. We considered both internal and external factors affecting the industry in our review and assessed its impact on our business and stakeholders.

Materiality Matrix 2023

Stakeholder Management

Our Contribution to UNSDGs

KLCCP Stapled Group remains dedicated to advancing the United Nations Sustainable Development Goals (UNSDG) by actively pursuing goals and targets that align with our business purpose and strategies. Our 2023 Sustainability Report follows the guidance of the World Economic Forum’s Stakeholder Capitalism Metrics, harmonising with the UN2030 Agenda for Sustainable Development and its 17 UNSDG.

We consistently update the UN Global Compact on our progress through the Communication on Progress (CoP) platform, endorsing The Ten Principles on Human Rights, Labour, Environment, and Anti-Corruption. This reinforces our commitment to the UNSDG and reflects our global vision for inclusive and sustainable development. Human