Stakeholder Engagement and Materiality
Communication with Stakeholders
Prosperity REIT believes that stakeholders’ opinions are catalysts to the continuous improvement of our business. As such, we have been engaging our stakeholders, including unitholders, tenants, vendors, service providers, suppliers, employees and the local community.
Communication with Unitholders
Continuous support from unitholders is integral to the success of an investment trust. We proactively communicate with our unitholders regularly and effectively on our financial and ESG performance to ensure transparent and fair corporate governance and to build trusty relationships.
With the aim to shape our long-term sustainability strategy, materiality analysis was conducted to better understand the ESG issues that are critical to Prosperity REIT. We performed a four-step process in assessing the materiality of the issues, from identification of issues and prioritization, to validation and review. Based on the list of material issues held prior, modifications were made after thorough consideration through in-depth discussions with stakeholder representatives and benchmarking against industry peers’ material issues. A final assessment was conducted to validate and refine the list of issues that would arrive at the Board for approval. The material issues are reviewed on a regular basis to ensure their relevance to both the business and our stakeholders.
- Energy efficiency
- Greenhouse gas (GHG) emissions reduction
- Waste management
- Water management
- Climate change
- Green building design and infrastructure
Employment and Labor
- Equal opportunities, anti-discrimination and inclusivity at workplace
- Employment relations and labor standards
- Training and development
- Occupational healthand safety
- Community investment and engagement
- Business ethics
- Data privacy protection or tenants
- Supply chain management
- Tenant satisfaction
- Tenant health and safety
Our ESG governance and management
Sustainability Working Group
Pursuant to the property management agreement dated 29 November 2005 between the REIT Manager and Goodwell-Prosperity Property Services Limited (the “Property Manager”), as amended, supplemented and/or otherwise modified or extended from time to time, the REIT Manager has appointed the Property Manager to operate, maintain, manage and market all the properties of Prosperity REIT, subject to the overall management and supervision of the REIT Manager.