ESR-LOGOS REIT's sustainability efforts are supervised by its Board of Directors and led by the Sustainability Committee, which was formed in 2016. This committee, chaired by our CEO, Mr. Adrian Chui, is responsible for sustainability-related procedures and initiatives across the organisation, including the implementation and monitoring of environmental, social, and governance policies. Comprising key members from various business functions, the Sustainability Committee is also responsible for overseeing the annual sustainability reporting process.
As part of its role, the Sustainability Committee regularly reviews the Manager's approach to the REIT's operations, investments, projects, and sustainability activities to ensure that existing policies and measures are robust and effective. Additionally, the Sustainability Committee also identifies relevant sustainability issues and risks and develops applicable internal control and risk management systems to manage, monitor and report those risks. In this regard, members of the Sustainability Committee were engaged in connection with the conducted materiality assessment, see below section.
In the identification and prioritising of material ESG topics, ESR-LOGOS REIT considers its sustainability programmes and performance, taking into account its broader business objectives and benchmarked itself against industry peers. Our material topics are also mapped to the most relevant United Nations’ Sustainable Development Goals (SDGs), in alignment with our sponsor, ESR Group Limited.
Since our first materiality assessment in 2016, we have reviewed our material topics annually to proactively consider risks and opportunities. In 2022, the Sustainability Committee undertook a comprehensive materiality review to engage stakeholders and refresh both material topics and targets, with the support of an external consultant. In view of the high relevance of climate action, diversity and sustainable supply chain issues, we have added Climate Change Adaptation, Diversity and Equal Opportunity, and Supply Chain Management as new material topics. We have also revised our targets to strengthen accountability for sustainability efforts across the group.
Our material issues and their corresponding topics and SDGs are disclosed on page 172.