Fortune Real Estate Investment Trust

The Board oversees all sustainability issues, covering environmental, social and governance issues, and a Sustainability Committee was established to assist the Board in the effective execution of Fortune REIT's sustainability strategy, managing its sustainability performance and conveying its expectation to stakeholders. [...] The risk assessment of Fortune REIT is reviewed by the Audit Committee, as delegated by the Board, on a semi-annual basis. Risks are then managed through the Manager setting out adaptive and mitigation measures according to the risk analysis results and reviewing the effectiveness of the measures regularly to ensure the risks identified are managed in an appropriate manner. [...] The Sustainability Committee conducts bi-monthly meetings to review sustainability issues, progress of implemented measures and pursues constant improvement on Fortune REIT's sustainability performance. Senior representatives from the Property Manager form part of the Sustainability Committee lending their experience, valuable insights and deep knowledge on the daily operations of the malls, helping Fortune REIT drive its sustainability initiatives. [...] The Board, through the Sustainability Committee, has set long-term reduction targets for energy consumption, GHG emissions, water consumption and waste consumption. Various policies have been put in place to promote the efficient use of resources, adoption of energy efficiency and industry best practices, use of renewable energy, sustainability-anchored procurement and supply chain management processes, and incorporation of climate-related considerations into its risk management framework. [...] The risk management framework of Fortune REIT is reviewed by the Audit Committee, as delegated by the Board, on a semi-annual basis. Risks are then managed through the Manager setting out adaptive and mitigation measures according to the risk analysis results and reviewing the effectiveness of the measures regularly to ensure the risks identified are managed in an appropriate manner.

The Board oversees all sustainability issues, covering environmental, social and governance issues, and a Sustainability Committee was established to assist the Board in the effective execution of Fortune REIT's sustainability strategy, managing its sustainability performance and conveying its expectation to stakeholders. [...] The risk assessment of Fortune REIT is reviewed by the Audit Committee, as delegated by the Board, on a semi-annual basis. Risks are then managed through the Manager setting out adaptive and mitigation measures according to the risk analysis results and reviewing the effectiveness of the measures regularly to ensure the risks identified are managed in an appropriate manner. [...] The Board has the fundamental responsibility for Fortune REIT's sustainability. The Board oversees all sustainability issues, covering environmental, social and governance topics, such as climate-related issues. Various policies have been put in place to promote the efficient use of resources, adoption of energy efficient and industry best practices, use of renewable energy, sustainability-anchored procurement and supply chain management processes, and incorporation of climate-related considerations into the risk management framework. These initiatives are embedded within the Manager's business processes and policies, demonstrating the Manager's determination to sustainable development and to reduce its carbon footprint. [...] The Board is informed by Management on material ESG issues including Fortune REIT's sustainability and climate-related risk identification, evaluation and the management of potential impacts from climate risks and opportunities requiring the Board's deliberation in a timely and adequate manner. The Board is kept appraised of sustainability-related matters through scheduled Board meetings and monthly updates via detailed reports prepared by Management. Through the Audit Committee, the Board reviews the risk management framework of Fortune REIT on a semi-annual basis. The risk management framework covers climate-related risks, including physical and transition risks which have been assessed to be relevant and material to Fortune REIT. Board members are experienced and as part of the annual continuous training for the Board, Board members are provided with annual training on sustainability and climate-related issues, which were delivered by external experts or relevant advisors on climate-related topics. [...] The Sustainability Committee was established to assist the Board in the effective execution of Fortune REIT's sustainability strategy, managing its sustainability performance and conveying its expectation to stakeholders, including employees and the Property Manager. The Sustainability Committee conducts bi-monthly meetings to review sustainability issues, progress of implemented measures and considers climate-related risks and opportunities, and their potential impacts it may have on the Manager's operations, which are reported to the Board. In alignment with the Board's strategic direction, the Sustainability Committee integrates climate-related risks and opportunities into Fortune REIT's overall strategy. After risk assessments are conducted, the Sustainability Committee formulates and implements policies and initiatives to address these risks, and capitalizes on potential opportunities. The Committee also oversees the ongoing progress of these policies and initiatives, while fostering innovation and driving continuous improvement in sustainability practices to ensure Fortune REIT's strategy remains resilient and forward-looking. It is also responsible for setting long-term reduction targets, monitoring the performance of Fortune REIT against the long-term reduction targets for energy consumption, GHG emissions, water consumption and waste consumption as delegated by the Board, sets key objectives and targets, and implements measures to improve Fortune REIT's sustainability performance. [...] At the management level, Management meets regularly to review the operations of Fortune REIT. Key risks, including ESG and climate risks, control measures and management actions are continually identified, reviewed and monitored by Management as part of Fortune REIT's Enterprise Risk Management ("ERM") Framework. [...] At Fortune REIT, risks are proactively identified and addressed to help the Manager anticipate its risk exposure, put mitigating controls in place to counter threats, whilst pursuing its objectives. The risk profile registers are reported to the Audit Committee and the Board on a half-yearly basis to highlight changes in the risk assessment, quantitative and qualitative factors affecting the inherent risks and effectiveness of mitigating controls supporting the residual risks. Climate-related risks are evaluated with the same level of importance as other significant risks, such as financial and operational risks, within Fortune REIT's overall risk management framework. A risk is classified as "material" if it is considered to have a significant impact on the organization, regardless of whether this impact is measurable in purely monetary terms. The assessment of materiality for all risks, including climate-related risks, is conducted by the Risk Management Committee to ensure a comprehensive and balanced approach to risk prioritization. The ownership of these risks lies with the respective business functions with the overall stewardship residing with the Board.

The Board oversees all sustainability issues, covering environmental, social and governance issues, and a Sustainability Committee was established to assist the Board in the effective execution of Fortune REIT's sustainability strategy, managing its sustainability performance and conveying its expectation to stakeholders. [...] The Sustainability Committee conducts bi-monthly meetings to review sustainability issues, progress of implemented measures and considers climate-related risks and opportunities, and their potential impacts it may have on the Manager's operations, which are reported to the Board. In alignment with the Board's strategic direction, the Sustainability Committee integrates climate-related risks and opportunities into Fortune REIT's overall strategy. After risk assessments are conducted, the Sustainability Committee formulates and implements policies and initiatives to address these risks, and capitalizes on potential opportunities. The Committee also oversees the ongoing progress of these policies and initiatives, while fostering innovation and driving continuous improvement in sustainability practices to ensure Fortune REIT's strategy remains resilient and forward-looking. It is also responsible for setting long-term reduction targets, monitoring the performance of Fortune REIT against the long-term reduction targets for energy consumption, GHG emissions, water consumption and waste consumption as delegated by the Board, sets key objectives and targets, and implements measures to improve Fortune REIT's sustainability performance.

The Board oversees all sustainability issues, covering environmental, social and governance issues, and a Sustainability Committee was established to assist the Board in the effective execution of Fortune REIT's sustainability strategy, managing its sustainability performance and conveying its expectation to stakeholders. [...] Fortune REIT conducted a risk assessment across multiple risk categories which included the topic of climate change, to allow for a more comprehensive understanding of its operating landscape and preparedness. The risk assessment of Fortune REIT is reviewed by the Audit Committee, as delegated by the Board, on a semi-annual basis. Risks are then managed through the Manager setting out adaptive and mitigation measures according to the risk analysis results and reviewing the effectiveness of the measures regularly to ensure the risks identified are managed in an appropriate manner. [...] The Board is informed by management on material ESG issues including Fortune REIT's sustainability and climate-related risk identification, evaluation and the management of potential impacts from climate risks and opportunities requiring the Board's deliberation with timely and adequate manner. The Board is kept appraised of sustainability-related matters through scheduled Board meetings and monthly updates. Through the Audit Committee, the Board reviews the risk management framework of Fortune REIT on a semi-annual basis. The risk management framework covers climate-related risks, including high impact physical and transition risks which have been assessed to be relevant and material to Fortune REIT. Board members are experienced and were provided with training on sustainability and climate-related issues during the Reporting Year. [...] The Sustainability Committee was established to assist the Board in the effective execution of Fortune REIT's sustainability strategy, managing its sustainability performance and conveying its expectation to stakeholders including employees and the Property Manager. The Sustainability Committee conducts bi-monthly meetings to review sustainability issues, progress of implemented measures and considers climate-related risks and the potential impacts it may have on the Manager's operations, which are reported to the Board. It is also responsible for setting long-term reduction targets, monitoring the performance of Fortune REIT against the long-term reduction targets for energy consumption, GHG emissions, water consumption and waste consumption as delegated by the Board, sets key objectives and targets, and implements measures to improve Fortune REIT's sustainability performance.

The Board oversees all sustainability issues, covering environmental, social and governance issues, and a Sustainability Committee was established to assist the Board in the effective execution of Fortune REIT's sustainability strategy, managing its sustainability performance and conveying its expectation to stakeholders. [...] Fortune REIT conducted a risk assessment across multiple risk categories which included the topic of climate change, to allow for a more comprehensive understanding of its operating landscape and preparedness. The risk assessment of Fortune REIT is reviewed by the Audit Committee, as delegated by the Board, on a semi-annual basis. Risks are then managed through the Manager setting out adaptive and mitigation measures according to the risk analysis results and reviewing the effectiveness of the measures regularly to ensure the risks identified are managed in an appropriate manner. [...] The Sustainability Committee was established to assist the Board in the effective execution of Fortune REIT's sustainability strategy, managing its sustainability performance and conveying its expectation to stakeholders including employees and the Property Manager. The Sustainability Committee conducts bi-monthly meetings to review sustainability issues, progress of implemented measures and considers climate-related risks and the potential impacts it may have on the Manager's operations, which are reported to the Board. It is also responsible for setting long-term reduction targets, monitoring the performance of Fortune REIT against the long-term reduction targets for energy consumption, GHG emissions, water consumption and waste consumption as delegated by the Board, sets key objectives and targets, and implements measures to improve Fortune REIT's sustainability performance.

The Board oversees all sustainability issues, covering environmental, social and governance issues, and a Sustainability Committee was established to assist the Board in the effective execution of Fortune REIT's sustainability strategy, managing its sustainability performance and conveying its expectation to stakeholders. [...] The risk assessment of Fortune REIT is reviewed by the Audit Committee, as delegated by the Board, on a semi-annual basis. Risks are then managed through the Manager setting out adaptive and mitigation measures according to the risk analysis results and reviewing the effectiveness of the measures regularly to ensure the risks identified are managed in an appropriate manner. [...] The Sustainability Committee conducts bi-monthly meetings to review sustainability issues, progress of implemented measures and pursues constant improvement on Fortune REIT's sustainability performance. Senior representatives from the Property Manager form part of the Sustainability Committee lending their experience, valuable insights and deep knowledge on the daily operations of the malls, helping Fortune REIT drive its sustainability initiatives. [...] The Board oversees all relevant climate-related issues, and a Sustainability Committee was established to assist the Board in the effective execution of Fortune REIT's climate risk identification, evaluation and the management of potential climate risks and opportunities, as well as conveying its expectation to stakeholders, including employees and the Property Manager. [...] The Board, through the Sustainability Committee, has set long-term reduction targets for energy consumption, GHG emissions, water consumption and waste consumption. Various policies have been put in place to promote the efficient use of resources, adoption of energy efficiency and industry best practices, use of renewable energy, sustainability-anchored procurement and supply chain management processes, and incorporation of climate-related considerations into its risk management framework. [...] The risk management framework of Fortune REIT is reviewed by the Audit Committee, as delegated by the Board, on a semi-annual basis. Risks are then managed through the Manager setting out adaptive and mitigation measures according to the risk analysis results and reviewing the effectiveness of the measures regularly to ensure the risks identified are managed in an appropriate manner.