Mapletree Industrial Trust

The Board of Directors of Mapletree Industrial Trust Management Ltd. is responsible for ensuring relevant ESG matters are incorporated into the Manager's governance and strategy, which are aligned with MIT's long-term goals. The Board of Directors also determines the overall risk strategy and governance, which includes climate-related risks and opportunities. MIT's ESG performance is regularly evaluated to ensure responsible and sustainable operations. [...] To keep the Board abreast of MIT's sustainability performance and any critical issues, the SSC and SWC provide regular updates or as needed. During these meetings, the Board is also responsible for reviewing and approving the relevant material topics at least annually to ensure that the topics remain relevant to its stakeholders. To ensure that the Board is equipped with the requisite sustainability knowledge, all Directors underwent training on sustainability matters as prescribed under the Listing Manual in FY22/23. [...] The SSC assists the Board and is responsible for the Manager's sustainability management. The SSC is co-chaired by the Sponsor's Deputy Group CEO and Group Chief Corporate Officer ("CCO"). It comprises the CEOs of the REIT managers and other members of the Sponsor's senior management team. Mr Tham Kuo Wei, the Manager's Executive Director and CEO, represented Mapletree Industrial Trust Management Ltd. in the committee for FY22/23. The SSC continually refines the Mapletree Group's sustainability strategy, manages the overall sustainability performance, sets targets as well as reviews sustainability management policies and practices. The SSC also regularly reviews its management approach to evaluate if existing policies and measures are adequate and relevant and implements necessary changes to address any gaps and improve future performance.

The Board holds the ultimate responsibility for the management of sustainability-related risks and opportunities and considers them as part of our strategic formulation. ESG matters are monitored and discussed on an ongoing basis. [...] To effectively manage the myriad aspects of sustainability, we have enhanced our governance structure with different committees to execute our sustainability strategies across different geographies, functions and departments. [...] Strong governance sets the foundation of MIT's sustainability strategy. To effectively oversee MIT's sustainability progress and initiatives, the Board undergoes training and professional development programmes, including director sustainability training courses prescribed by the SGX-ST for listed entities. To assist the Board in overseeing its sustainability strategy, MIT's wider sustainability governance structure comprises several other committees and includes representatives from both the Manager and the Sponsor. The wide range of roles and functions incorporated into the Manager's sustainability governance structure ensures effective oversight of sustainability target setting and performance evaluation. [...] Board of Directors of Mapletree Industrial Trust Management Ltd. - Oversees sustainability strategy and sustainability reporting - Approves and monitors progress of sustainability targets and performance - Receives updates on critical ESG issues - Determines risk strategy and governance, including those related to climate-related risks and opportunities [...] Mapletree Group's Sustainability Steering Committee ("SSC") - Co-chaired by Deputy Group CEO and Group Chief Corporate Officer ("CCO") of Mapletree Group - Spearheads the development of policies and initiatives that are aligned to Mapletree Group's sustainability strategy - Sets targets and drives sustainability initiatives - Evaluates management approach to assess the effectiveness and relevance of existing policies and measures [...] Mapletree Group's Sustainability Working Committee ("SWC") - Comprises representatives from various business units and corporate functions - Implements, executes, and monitors sustainability plans, policies and practices [...] Country ESG Committees - Champions and supports sustainability initiatives in each country where MIT operates.