​Board Statement

Dear Stakeholders,

Sustainability forms a crucial part of our corporate culture and underpins the business strategy and operations of MIT. We are committed to conducting our business in an environmentally and socially responsible manner while maintaining high corporate governance standards. Our approach to sustainability is aligned with our Sponsor, Mapletree Investments Pte Ltd. The Board is supported by the Sustainability Steering Committee, which comprises the Chief Executive Officer of the Manager and representatives from the Sponsor’s senior management team.

The relationship with our various stakeholders remains our top priority. We strive to ensure that our sustainability practices are aligned with their sustainability concerns.

MIT’s sixth Sustainability Report marks its first foray into climate reporting. We will be aligning subsequent reports with the recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD) framework. This reflects our commitment to addressing the challenges of climate change.

Global events such as the COVID-19 pandemic have amplified the urgency of environmental and climate action, given our highly interconnected world. In recognition of the increasing responsibility of businesses to consider environmental and climate concerns, we undertook our inaugural Environmental Risk Assessment to understand the material environmental risks faced in the countries where we operate, and how we can mitigate these risks. Further details of this assessment have been elaborated in the Environment section of this report. 

In FY21/22, we completed a reassessment of MIT’s material matters and sought the views of external stakeholders for the first time. We benchmarked these material matters against our stakeholders’ expectations, as well as the shifting global and industry concerns. Consequently, we redefined our material matters and added four new material and non-material matters to reflect our areas of focus and the growing scope of sustainability concerns. We also set targets for all material matters for the forthcoming financial year as well as long-term targets relating to energy consumption, greenhouse gas emissions and renewable energy use.

As the world continues its recovery from the pandemic, we will continue to safeguard the well-being of all our stakeholders and support them during this challenging period. 

In FY21/22, we made steady progress in advancing sustainable practices. Some of our key achievements in FY21/22 include:

• certification of BCA Green Mark Gold^Plus for The Synergy; 
• re-certifications of BCA Green Mark ratings for 1 & 1A Depot Close, 30A Kallang Place and The Strategy;  
• inaugural submission of GRESB Real Estate Assessment and gap analysis to improve our practices and reporting disclosures; 
• introduction of Board Diversity Policy; and 
• participation of 80 employees in MIT’s ‘Pack a Bag’ corporate social responsibility initiative.

We will be building on the positive momentum of our sustainability actions in FY22/23. We will accelerate the adoption of renewable energy by progressively installing solar panels at Flatted Factory clusters. Our commitment to renewable energy is underscored by the introduction of the long-term target on total solar energy generating capacity across MIT’s portfolio. We will also be introducing sustainability clauses for new leases in Hi-Tech Buildings and Business Park Buildings as closer collaboration with our tenants will be instrumental in making our buildings more sustainable. To achieve our goals, we will be establishing new sustainability policies for business operations. We have started to embark on our decarbonisation journey with the Sponsor as it develops a "net-zero by 2050" roadmap while addressing the data gap in emissions tracking as our data centres in North America are predominantly on triple net leases.

This report is prepared in accordance with the Global Reporting Initiative Standards – Core and the SGX-ST Listing Rules (711A and 711B).

We remain committed to driving our sustainability agenda to deliver greater value to our stakeholders and enhance the resilience of our business. 

Board of Mapletree Industrial Trust Management Ltd.

The latest Sustainability Report can be found here.