The Manager
The Manager

Board Statement

The Board of Directors (“the Board”) is pleased to present Mapletree North Asia Commercial Trust’s (“MNACT”)second Sustainability Report in accordance with the Global Reporting Initiative (“GRI”) Standards (2016) – Core option. This report encapsulates our ongoing commitment towards sustainability which is integral to MNACT’s business.

MNACT’s sustainability approach is aligned to that of the Sponsor, Mapletree Investments Pte Ltd (“Mapletree Group”), and premised on the recognition that environmental, social and governance (“ESG”) aspects are increasingly important to our stakeholders. Our mall fosters social bonds by serving as a destination for family, friends and communities to come together. Our offices provide a conducive work space for our tenants and their employees. We also acknowledge the importance of an eco-efficient building management system in reducing the environmental footprint. As such, the Board, together with the Management, is committed to managing relevant ESG risks and opportunities across MNACT’s assets, while contributing positively to the environment and society.

The Board considers sustainability as an integral part in MNACT’s long-term strategy formulation and oversees sustainable practices across the business. Our CEO assists us in discharging our responsibilities and she represents MNACT in the Mapletree Group’s Sustainability Steering Committee (“SSC”), which is made up of representatives from senior management across the Mapletree Group.

Following the materiality review conducted by the Manager in FY17/18, the Board considered and re-validated the ESG factors that are of concern to stakeholders and significant to MNACT’s business. During the year, further improvements have been achieved on the assets’ environmental performance, including a reduction in total electricity consumption by 2.7% compared to FY16/17. Also, in line with the Mapletree Group’s objective of creating a positive work environment, the Employee Engagement Survey (“EES”) was conducted and drew a 96% response rate from employees of the Manager and Mapletree North Asia Property Management Limited (the “Property Manager”).

This report is aligned to the SGX-ST Listing Rules Practice Note 7.6 Sustainability Reporting Guide and covers sustainability practices and performance from 1 April 2017 to 31 March 2018, as well as MNACT’s targets for the upcoming year. As we continue to embark on the sustainability journey, we remain committed to building a responsible business that delivers sustainable value to our stakeholders over the long term.

The latest Sustainability Report can be found here.

 1.  Please refer to MNACT's SGX-ST Announcement dated 28 March 2018 titled “Proposed Acquisition of a Portfolio of Six Freehold Office Properties in Greater Tokyo, Japan (“Proposed Acquisition”)”. The transaction was approved by Unitholders at the Extraordinary General Meeting held on 24 April 2018. Following the completion of the Proposed Acquisition on 25 May 2018, “Mapletree Greater China Commercial Trust” was renamed “Mapletree North Asia Commercial Trust” and the Manager was renamed “Mapletree North Asia Commercial Trust Management Ltd.".
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