OVERVIEW AND FINANCIAL REVIEW MARKET REVIEW LEADERSHIP STRUCTURE PROPERTY PORTFOLIO SUSTAINABILITY & GOVERNANCE FINANCIAL STATEMENTS AND OTHER INFORMATION 95 CDL HOSPITALITY TRUSTS Annual Report 2023 OPERATIONS/FUNCTIONS SUSTAINABILITY WORKING COMMITTEE (SWC) CEO AUDIT & RISK COMMITTEES BOARDS INTERNAL AUDIT SUSTAINABILITY OFFICER Sustainability Governance CDLHT ensures sustained progress towards our sustainability goals and ambitions through our governance structure, which ensures the Boards have due oversight of all our sustainability initiatives and strategic imperatives. At CDLHT, the Boards are responsible for overseeing all relevant sustainability considerations to ensure CDLHT’s business goals and strategies are progressing in accordance with the objectives set. The Boards also manage and monitor the material ESG factors and their performance, including those pertaining to climate-related issues such as emission reductions and climate action and resilience. The Audit & Risk Committees (“ARCs”) oversee our sustainability processes and strategies, and in particular looks after risk management policies and identification of such risks, including those pertaining to climate risk. Management reports to the ARCs and Boards on CDLHT’s sustainability efforts and performance progressively during the quarterly meetings and at the end of each financial year end. CDLHT’s Sustainability Working Committee (“SWC”) comprises key personnel from various business functions and is led by the CEO of the Managers, Mr. Vincent Yeo Wee Eng. The SWC, overseen by the ARCs, manage and monitor CDLHT’s overall sustainability performance and leads the development of strategies that incorporate material ESG factors into daily operations. A dedicated Sustainability Officer, holds the full-time responsibility of tracking the sustainability-related metrics and green initiatives and reports frequently to the SWC. Recognising the fast-growing importance of sustainability to our business operations, Board Sustainability Committees (“BSCs”) of the Managers will be formed in FY 2024 to further enhance sustainability governance and better dedicate management capacity toward sustainabilityrelated issues at CDLHT. The BSCs will take over the role of the ARCs within the sustainability governance structure, working with the SWC and reporting to the Boards. To strengthen its sustainability and climate-related governance capabilities, CDLHT’s Directors and senior management attended ESG workshops during FY 2023 to expand their knowledge and awareness of environmental issues impacting the portfolio. The monitoring of our sustainability performance continues to be supported by our portfolio-wide data capture and analysis software which is continuously being enhanced to enable CDLHT to collect data from each of its properties across an expanded array of metrics so as to better monitor and track individual property and portfolio performance to enhance sustainability performance.
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