Our Climate Disclosure Statement is approved by the Board and prepared in consultation with our crossfunctional Sustainability Reference Group, which contributes to the identification of foreseeable climate risks and opportunities and assists in formulating and implementing our ongoing response to climate change. [...] The GPT Climate Change and Energy Policy outlines our commitment to carbon neutrality and ensuring resilience to climate impacts. We are responding to the transition to a low carbon economy and associated risks and opportunities by managing emissions and energy consumption, and working with our supply chain and customers in their aligned endeavours to address climate change. [...] To achieve our policy objectives, GPT continuously monitors and assesses climate change risks and opportunities likely to impact our assets and incorporate these into capital allocation and operational decision-making, as described in the Management Accountability section on page 9. For example, all submissions to the GPT Investment Committee are required to address climate risk. [...] The Group takes a long term, holistic approach to managing its assets. We regularly and publicly report progress on our sustainability strategies and performance results with independent verification. We transparently work in partnership with our customers and supply partners in a way that enables our stakeholders to hold us to account. [...] Climate-related business risks are considered and addressed through the GPT Risk Management Framework, applying the same governance approach to controls and decision-making pathways [...] The GPT Board of Directors ("Board") meets a minimum of six times each year and comprises six independent Non-Executive Directors and one Executive Director. [...] The Board has ultimate responsibility for overseeing the application and management of the Risk Management Framework and the Group's Environmental Management System (EMS) to ensure that climate change and other sustainability-related financial and environmental risks and impacts are appropriately identified and assessed. [...] The Board also considers material climate-related risks and reviews and approves GPT's annual Climate Disclosure Statement, in the context of its continuous disclosure obligations. [...] The GPTFM Board, through its Audit, Compliance and Risk Management Committee, receives reports twice annually from GPT's Head of Sustainability. These reports provide detailed updates on all aspects of GPT's sustainability management, including climate change risk. [...] The GPT Board and Sustainability and Risk Committee ("SRC"), plays a critical role in relation to climate change and other sustainability-related risks, including: » Overseeing GPT's approach to sustainability, including environmental and social sustainability, with specific focus on climate change and nature-related risks and opportunities » Reviewing reports on GPT's Environmental Management System, including related assurance activity » Monitoring GPT's progress in meeting sustainability targets set by management (included in a scorecard and set out in table 2a on page 27 and updated in each meeting), and » Reviewing and recommending to the Board for approval the Group's Climate Disclosure Statement and Sustainability Report. [...] The SRC meets quarterly and receives reports from management on the identified climaterelated risks disclosed in the Climate Disclosure Statement and progress against stated metrics and targets (see Appendix B), as well as key projects such as carbon neutral certifications, updates to key asset-level physical risk assessments, solar PV installations and climate adaptation planning. [...] The proceedings, deliberations and recommendations of the SRC are reported to the Board by the Committee Chair. [...] GPT's Chief Executive Officer (CEO) and Managing Director (CEO) is accountable for ensuring that the Group is identifying, assessing and managing material risks including climate change and other sustainability-related risks in accordance with the Risk Management Framework. [...] The Chief Risk Officer (CRO) reports directly to the CEO and is responsible for ensuring GPT's management teams are identifying, assessing and managing climate change risks and opportunities effectively and in accordance with the Risk Management Framework and the EMS. [...] The Head of Sustainability reports directly to the CRO, which ensures a connection and coordination between the EMS and the Risk Management Framework. The Sustainability Team is responsible for formulating and driving implementation of GPT's environmental sustainability initiatives across the business. This includes initiatives that respond to climate-related matters. The team includes the in-house position of Climate Risk Analyst, adding specialist climate science skills with a focus on climate risk identification and adaptation responses for GPT's assets. [...] Accountability for the Group's sustainability and climate-related targets and outcomes is reinforced through KPIs in the performance targets of the CEO, the Chief Operating Officer (COO), the CRO, all members of the Sustainability Team and key operational-level team members. In the case of the CEO, COO, CRO and the Head of Sustainability, these KPIs are directly linked to remuneration outcomes. These climate-related performance indicators are reported to the Sustainability and Risk Committee every quarter. [...] GPT has an established Sustainability Risk Steering Committee (SRSC) to oversee its climate disclosures. The Steering Committee reports to the Leadership Team. The Steering Committee's remit was expanded in 2021 beyond its previous climate focus to consider current and emerging environmental risks and opportunities. [...] The Steering Committee consists of the Chief Operating Officer (COO), Chief Financial Officer (CFO), and CRO and meets three times a year. The Steering Committee is chaired by the CRO, who sponsors the Group's response to climaterelated risks and opportunities as a member of the GPT Leadership Team. [...] The Sustainability Risk Steering Committee is supported by the Sustainability Reference Group and the Climate Disclosure Delivery Team. [...] The Sustainability Reference Group is responsible for identifying foreseeable climaterelated risks and opportunities and embedding ongoing climate change risk identification and management processes across our business activities. Reference Group members are also responsible for ensuring that climate change planning and mitigation processes are implemented in their business areas to promote longer term business resilience. Each business area within the Reference Group undertakes planning sessions to enhance their relevant risk assessment and mitigation processes. [...] The Reference Group includes representatives from across GPT's business, including our Office, Retail, Logistics, Asset Management, Property Operations, Development, Funds Management, Sustainability, Procurement, Risk and Finance teams. [...] The functions of the Reference Group were formalised in the Sustainability Reference Group Charter in May 2021, which was endorsed by the Sustainability Risk Steering Committee. The Reference Group met three times in 2022 to discuss existing and new climate-related risks and opportunities, our progress in delivering our committed actions, and for training. [...] The Climate Disclosure Delivery Team consists of representatives from Sustainability, Risk, Finance, and Corporate Affairs, with contributions from other areas as required. The Delivery Team coordinates the preparation of the Climate Disclosure Statement and considers developing concepts and best practice reporting on climate matters.