Starhill Global Real Estate Investment Trust : Sustainability Report FY2022/23

OVERVIEW

OPERATIONS REVIEW

PERFORMANCE

SUSTAINABILITY & GOVERNANCE

FINANCIALS

OTHERS

Sustainability

Report

Sustainability Report Contents

69	About This Report	79	Embracing the Marketplace
70	Board Statement	82	Environmental Conservation
71	Performance Overview	85	TCFD Report
73	Sustainability Policy	92	Empowering Our People
75	Stakeholders	96	Enriching Our Communities
76	Materiality	97	GRI Content Index
78	Our ESG Targets	99	SASB Index
	and Performance	100	TCFD Disclosures

Contact

We welcome feedback, suggestions and questions from our stakeholders about this report. Please direct any questions or comments to:

Investor Relations and Corporate Communications

JONATHAN KUAH

YTL Starhill Global REIT Management Limited

391B Orchard Road, #24-03 Ngee Ann City

Tower B, Singapore 238874

Phone: [phone]

Fax: [phone]

Email: [e-mail]

ABOUT THIS REPORT

This is the seventh annual sustainability report by Starhill Global Real Estate Investment Trust (SGREIT). The report covers the environmental, social and governance (ESG) performance of our operations from 1 July 2022 to 30 June 2023 (FY 2022/23) unless stated otherwise. This report forms part of SGREIT's FY 2022/23 Annual Report.

Reporting Standards

This report has been prepared in accordance with Singapore Exchange Securities Trading Limited's (SGX-ST) Listing Rules (711A and

711B) - Sustainability Reporting. We have reported sustainability information in accordance with the Global Reporting Initiative (GRI) Standards. The GRI Standards have been selected because of their focus on economic, environmental and social impacts. In addition, we have used the Sustainability Accounting Standards Board's (SASB) Real Estate Sector Standards because SASB Standards enable organisations

to provide industry-based disclosures about sustainability- related risks and opportunities that could reasonably be expected to be financially material and hence of interest to investors.

We also continue to highlight our alignment with the UN Sustainable Development Goals (SDGs) in

the report.

This report includes an environmental risk management report based on the Taskforce on Climate-related Financial Disclosures (TCFD) Recommendations, in accordance with the Monetary Authority of Singapore's (MAS) Guidelines on Environmental Risk Management for Asset Managers (MAS ERM Guidelines).

STARHILL GLOBAL REIT | ANNUAL REPORT FY 2022/23 69

SUSTAINABILITY & GOVERNANCE

Sustainability Report

Reporting Principles

The report content has been determined primarily by applying the GRI reporting principles of accuracy, balance, clarity, comparability, completeness, sustainability context, timeliness and verifiability to provide high-quality sustainability reporting.

Scope and Boundary

The report provides an overview of SGREIT's ESG performance for its portfolio of properties in Singapore, Malaysia, Australia, Japan, and China. Energy and water consumption data are reported only for the common areas within SGREIT's properties, namely Wisma Atria Property,

Myer Centre Adelaide, David Jones Building, Plaza Arcade, and Ebisu Fort, which are actively managed by the property managers, and where the Manager can monitor and influence the efficiency of utilities.

Waste data has been reported for both tenants and the common area for Wisma Atria and Myer Centre Adelaide. The waste data for Singapore encompasses the Wisma Atria under the Management Corporation Strata Title. This includes Wisma Atria Property which SGREIT owns, and Isetan's own strata space.

The disclosures regarding Product Responsibility and Human Capital performance only refer to the Manager in Singapore. The workforce data relates to the employees of the Manager in Singapore.

Restatements

Scope 2 GHG emissions for Singapore for FY 2020/21 and FY 2021/22

have have been restated owing to revisions in the emission factor by the Energy Market Authority (EMA), Singapore. With the revised emission factor, the emission is slightly lower than reported earlier. The difference, however, is insignificant and not material. Furthermore, the environmental data for Myer Centre

Adelaide in FY 2020/21 and FY 2021/22 for water consumption has been restated due to a new tenant that was allocated a portion of the common area, as well as electricity consumption data reported for

FY 2021/22 being revised from the pro-rated consumption based on percentage of common area to actual consumption data.

External Assurance

The accuracy of the sustainability performance data presented

in this report has been verified using internal sources. We have not sought independent external assurance on our sustainability reporting. In line with the recent updates to sustainability reporting disclosures by the SGX-ST, Starhill Global REIT has engaged PricewaterhouseCoopers Risk Services Pte Ltd to conduct an internal audit review of the Group's Sustainability Reporting process.

BOARD STATEMENT

The Board is committed to upholding high standards of governance, ethics, integrity, and sustainability. The Board determines SGREIT's material ESG factors, including climate-related risks and opportunities. In determining ESG priorities, the Board takes

into account the concerns and interests of key stakeholders. The Board considers sustainability impacts, risks and opportunities in SGREIT's business decisions and strategy development. The Board oversees the management and monitoring of material ESG factors by seeking regular updates from the management. The Board also reviews and approves the sustainability reports.

The Board is committed to continuously enhancing the skills and knowledge of the directors about sustainability issues through participation in ESG training and expert briefings. All directors in

office during FY 2022/23 have also completed the sustainability training courses mandated by the listing rules of the SGX-ST.

The Management is responsible for implementing and monitoring ESG strategy, programmes and initiatives. Working closely with the Management, the Board remains focused on driving long-term sustainable value

for SGREIT's stakeholders.

This report provides a comprehensive overview of our portfolio properties' ESG performance during FY 2022/23. In line with our commitment to sustainability, we continue to use globally recognised reporting standards and frameworks that include GRI Standards, the TCFD Recommendations, SASB Real Estate Standards, and the UN SDGs to meet the diverse information needs of our stakeholders and investors.

The report is aligned with the MAS ERM Guidelines. These guidelines assist asset managers in assessing and managing potential environmental risks such as climate change, loss of biodiversity, pollution, and changes in land use. We combine the MAS ERM Guidelines and the TCFD Recommendations to evaluate and mitigate environmental risks throughout our current portfolio management processes. Our TCFD Report included in this report outlines our approach to assessing and managing climate- related risks and identifying opportunities within our operations.

We have established sustainability targets and timelines to encompass short-term goals to provide a more specific account of our significant ESG targets, metrics, and performance, further enhancing the transparency of our sustainability initiatives.

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OVERVIEW

OPERATIONS REVIEW

PERFORMANCE

SUSTAINABILITY & GOVERNANCE

FINANCIALS

OTHERS

PERFORMANCE OVERVIEW

SUSTAINABILITY PERFORMANCE DATA

MATERIAL ESG FACTORS	MEASUREMENT UNIT	FY 2020/21	FY 2021/22	FY 2022/23
ENVIRONMENTAL(1)(2)
ENERGY(3)
ELECTRICITY CONSUMPTION
Total	MWh	8,290	8,209	8,085
Singapore - Wisma Atria Property	MWh	3,895	4,073	4,053
Australia	MWh	4,328	4,087	3,990
Japan	MWh	67	48	42
FUEL CONSUMPTION
Total	GJ	29	0	0
Singapore - Wisma Atria Property	GJ	29	0	0
Australia	GJ	0	0	0
Japan	GJ	No data	No data	No data
ENERGY CONSUMPTION
Total	GJ	29,873	29,552	29,107
Singapore - Wisma Atria Property	GJ	14,052	14,663	14,592
Australia	GJ	15,581	14,714	14,365
Japan	GJ	240	174	150
ENERGY (ELECTRICITY) INTENSITY
Total	kWh/m2	131	130	128
Singapore - Wisma Atria Property	kWh/m2	202	211	210
Australia	kWh/m2	101	95	93
Japan	kWh/m2	76	55	47
GHG EMISSIONS(4)(5)
Scope 1 (Direct) Emissions
Total	tonnes CO2e	309	0	613
Singapore - Wisma Atria Property	tonnes CO2e	309	0	613
Australia	tonnes CO2e	0	0	0
Japan	tonnes CO2e	No data	No data	No data
Scope 2 (Indirect) Emissions
Total	tonnes CO2e	3,153	3,131	3,086
Singapore - Wisma Atria Property	tonnes CO2e	1,580	1,652	1,644
Australia	tonnes CO2e	1,542	1,456	1,422
Japan	tonnes CO2e	31	23	19
Total GHG Emissions
Total	tonnes CO2e	3,462	3,131	3,699
Singapore - Wisma Atria Property	tonnes CO2e	1,889	1,652	2,257
Australia	tonnes CO2e	1,542	1,456	1,422
Japan	tonnes CO2e	31	23	19
GHG Intensity
Total	kgCO2e/m2	55	50	59
Singapore - Wisma Atria Property	kgCO2e/m2	98	86	117
Australia	kgCO2e/m2	36	34	33
Japan	kgCO2e/m2	35	26	22
WATER(6)
WATER WITHDRAWAL
Total	ML	70	62	74
Singapore - Wisma Atria Property	ML	55	47	53
Australia	ML	15	15	21
Japan	ML	0.056	0.084	0.084
WATER INTENSITY
Total	m3/m2	1.16	1.04	1.23
Singapore - Wisma Atria Property	m3/m2	2.84	2.43	2.77
Australia	m3/m2	0.37	0.38	0.51
Japan	m3/m2	0.06	0.10	0.10

STARHILL GLOBAL REIT | ANNUAL REPORT FY 2022/23

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(3)

(4)

(2)

(1)

Notes:

Scope of data reporting covers Wisma Atria Property (Singapore), Myer Centre Adelaide (Australia), David Jones Building (Australia), Plaza Arcade (Australia), and Ebisu Fort (Japan) for which the Manager has operational control. Numbers may not fully add up due to rounding. Scope 2 CO2 emission data for FY 2020/21 and FY 2021/22 have been restated owing to a revision in Singapore emission factors by the Energy Market Authority Singapore. Furthermore, the environmental data for Myer Centre Adelaide (Australia) in FY 2020/21 and FY 2021/22 for water consumption has been restated due to a new tenant

that was allocated a portion of common area, as well as electricity consumption data reported for FY 2021/22 being revised from the pro-ratedconsumption based on percentage of common area to actual consumption data.

Energy refers to purchased electricity, and in FY 2020/21, fuel (diesel) consumption was added.

Scope 1 (Direct) GHG emissions include fuel (diesel) and fugitive emissions from refrigerants. Scope 2 (Indirect) GHG emissions are derived from purchased electricity.

Average training hours per employee (full-time)

Female Senior Management

Female managers

Female employees

Employee turnover rate

Rate of new hires

Full-timeemployees Part-timeemployees

Fixed-termcontract employees

Temporary employees

Permanent employees

Number of incidents of non-compliance EMPLOYEES (as at 30 June)(7)

tenants and visitors(1)

COMPLIANCE WITH HEALTH & SAFETY REGULATIONS

Number of incidents involving the public,

Employee

PUBLIC, TENANTS & VISITORS SAFETY

Employee

NUMBER OF MAN-HOURSWORKED

OCCUPATIONAL DISEASE

Employee

NON-FATALWORKPLACE INJURIES

Employee

Japan

COMPLIANCE WITH ENVIRONMENTAL REGULATIONS

Employee

FATALITIES

Number of incidents of non-compliance

SOCIAL

OCCUPATIONAL HEALTH & SAFETY(7)

Australia - Myer Centre Adelaide

Singapore - Wisma Atria Property

Japan

WASTE RECYCLED Total

Australia - Myer Centre Adelaide

Singapore - Wisma Atria Property

ENVIRONMENTAL (cont'd)

WASTE

WASTE GENERATED (NON-HAZARDOUS)Total

SUSTAINABILITY & GOVERNANCE

Sustainability Report

MATERIAL ESG FACTORS

SUSTAINABILITY PERFORMANCE DATA

MEASUREMENT UNIT

FY 2020/21

FY 2021/22

FY 2022/23

	metric tons	1,486	1,441	1,545
	metric tons	1,093	1,141	1,180
	metric tons	393	300	364
	metric tons	No data	No data	No data
	metric tons	115	131	173
	metric tons	26	45	64
	metric tons	89	86	109
	metric tons	No data	No data	No data
	Number	0	0	0
	Number	0	0	0
HIGH-CONSEQUENCESWORK-RELATED INJURIES (EXCLUDING FATALITIES)	Rate %	0	0	0
Number	0	0	0
	Rate %	0	0	0
	Number	0	0	0
	Rate %	0	0	0
	Number	0	0	0
	Number	64,120	61,360	63,440
	Number	0	0	1(8)
	Number	0	0	0
	Number	31	30	31
	Number	0	0	0
	Number	0	0	0
	Number	30	29	30
	Number	1	1	1
	%	10	20	45
	%	6	23	42
	%	58	60	71
	%	64	58	70
	%	25	50	56
	Hrs	27.2	34.7	27.0
(5)	GHG emissions calculations are based on the Greenhouse Gas (GHG)
	Protocol. Gases included in the calculation include CO2, CH4	and N2O.
	Emission factors from IPCC 2006 and GWP values from the 2014 IPCC
	Fifth Assessment Report were used to derive Scope 1 emissions.
	Scope 2 emissions were calculated using the location-based method,
	with grid emission factors from the Singapore Energy Market Authority
	and the Australia Department of Industry, Science, Energy and Resources.
(6)	All water withdrawal comes from a third-party water source. In
	Singapore, the water supply from the Public Utilities Board, comprises
	water from the local catchment, imported water (from neighbouring
	country's water catchment), reclaimed water (known as NEWater)
	and desalinated water. In Australia, water supply from SA Water and
	Water Corporation, which manages water services in Adelaide, South
	Australia, and Perth, Western Australia, respectively, comprises water
	from reservoirs, rivers, groundwater and seawater.
(7)	For employees of the REIT Manager only.
(8)	In FY 2022/23, an unfortunate slip and fall accident involving a
	shopper resulted in an injury at Wisma Atria.

OVERVIEW

OPERATIONS REVIEW

PERFORMANCE

SUSTAINABILITY & GOVERNANCE

FINANCIALS

OTHERS

SUSTAINABILITY POLICY

We are committed to sustainable operations and practices that contribute positively to the environment, people and the economy while safeguarding and enhancing value for our unitholders and stakeholders. Our sustainability management focuses on material ESG factors determined and approved by the Board. Managing environmental risks and opportunities is an essential component of our sustainability policy.

We have established targets and key performance indicators to implement our sustainability policy. We monitor our performance regularly and communicate our progress through transparent reporting.

Our sustainability policy applies to all aspects of our operations, including property acquisition, development, management, and disposal. We review our sustainability policy periodically or as required to ensure it remains relevant, effective, and aligned with our sustainability goals and objectives.

STARHILL GLOBAL REIT | ANNUAL REPORT FY 2022/23

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