CLAS' Boards are responsible for overseeing CLAS' sustainability efforts, and take ESG factors into consideration in determining their strategic direction and priorities. The Boards also approve the executive compensation framework based on the principle of linking pay to performance. CLAS' business plans are translated to both quantitative and qualitative performance targets, and executed through sustainable corporate practices. [...] In 2022, we published a Sustainability-Linked Finance Framework which aligns our ESG goals with CLAS' financing needs. To date, CLAS has raised about S$460 million in sustainable financing, including the hospitality sector's first sustainability-linked bond. [...] To strengthen our sustainability stewardship, we formalised a Sustainability Committee which provides management oversight of CLAS' ESG implementation. [...] CLAS formalised a Sustainability Committee which comprises the CEO and Heads of Department of CLAS' Managers, and the Heads of Department of the operations and technical teams of its Sponsor. A Sustainability Working Committee was also formed to provide support to the Sustainability Committee. [...] At CLI, the Strategy and Sustainability Committee (SSC), a Board Committee chaired by CLI's Lead Independent Director, is responsible for overseeing CLI's sustainability strategies and goals, including providing guidance to Management and monitoring progress against achieving the goals of sustainability initiatives. The SSC typically meets twice a year, with additional meetings convened as necessary. [...] CLAS' CEO chairs the Sustainability Committee, which comprises the Heads of Department of CLAS' Managers, and the Heads of Department of the operations and technical teams of its Sponsor, The Ascott Limited. CLAS' Sustainability Committee is supported by a Sustainability Working Committee, which is headed by CLAS' Head, Investor Relations and Sustainability. CLAS' Sustainability Committee meets at least twice a year, and its Sustainability Working Committee regularly informs and updates members of CLAS' Sustainability Committee on climate-related risks and opportunities, e.g. on green certification and the portfolio's environmental performance vis-a-vis the Master Plan targets. The Head of the Sustainability Working Committee works closely with the Sustainability Committee and other employees on a C-suite level to drive initiatives related to climate-related risks and opportunities, as well as broader environmental issues. A key objective of CLAS' senior management is to transit to a low-carbon business and build a resilient and resource efficient portfolio. In alignment with CLI, the CEO of CLAS' Managers is responsible for the climate change-related targets.