As a property owner and manager, OUE C-REIT is cognisant of the environmental impact of OUE C-REIT's operations and has taken an active stance in reducing our energy footprint to address climate change, build climate resilience around OUE C-REIT's business and to strengthen the Manager's approach in order to create sustainable long-term value for all stakeholders.
OUE C-REIT's commercial properties in Singapore and the Hilton Singapore Orchard are certified Green Mark Gold and above by the Building Construction Authority while Lippo Plaza in Shanghai is LEED (Leadership in Energy and Environmental Design) certified. This translates to 96% of our portfolio by asset value.
|OUE Bayfront||BCA Green Mark Gold|
|One Raffles Place Tower 1||BCA Green Mark Gold|
|One Raffles Place Tower 2||BCA Green Mark Platinum|
|OUE Downtown Office||BCA Green Mark Gold|
|Mandarin Gallery||BCA Green Mark Gold|
|Hilton Singapore Orchard||BCA Green Mark Gold|
|Crowne Plaza Changi Airport||BCA Green Mark Gold|
|Lippo Plaza||LEED O+M v4.0 - Gold|
Recognising the business risks of climate change, the Manager has taken steps towards integrating the Task Force on Climate-Related Financial Disclosures ("TCFD") recommendations into our sustainability reporting. In 2021, we conducted our first climate-related scenario analysis to identify potential climate-related risks around OUE C-REIT's operations that have business implications.
The Manager also works closely with the property managers and tenants to improve the energy efficiency of OUE C-REIT's portfolio to align with Singapore's low carbon emissions strategy, as well as exploring renewable energy options to support the global effort to transform into a net-zero economy. On top of energy efficiency measures, the Manager also focuses on other environmental indicators such as water efficiency and proper waste management measures at OUE C-REIT's properties, in recognition of the importance of good resource management and resource efficiency to water- and land-scarce Singapore.
Since 2021, the Manager has started rolling out green lease clauses in tenant lease agreements which provide for the management and improvement of the environmental performance of OUE C-REIT's properties. Tenants are committed to provide relevant environmental data to OUE C-REIT, as well as to work in partnership with the Manager to reduce the environmental impact of the buildings we own and occupy.
For more information, please view our Sustainability Report.