The Board of the Manager recognises the importance of incorporating sustainable business practices into our business strategy to achieve long-term growth, value creation, and business objectives such as maintaining resiliency, increasing resource efficiency and serving stakeholders' best interests.
In 2017, we established a Sustainability Council (“SC”) to oversee and manage our eff orts to incorporate sustainable practices into our business operations and activities. The SC is led by principal executives across various business functions and operates under the guidance of the Board. The SC implements and monitors our sustainability efforts and performs assessments to evaluate the outcomes against our set goals and targets.
The SC is responsible for the ongoing review and assessment of relevant and material ESG topics related to daily operations, as well as the selection of key performance indicators and targets. The Manager ensures effective sustainability management through periodic reviews and performance measures. In FY2020, the Manager conducted a materiality review in which the Board re-validated existing ESG topics that are of significant importance to AA REIT's business and are of concern to stakeholders. This was done through a stakeholder engagement survey and a peer benchmarking exercise.
We have been a participant in the annual Global Real Estate Sustainability Benchmark (“GRESB”) assessment since 2014 to maintain our standard of engagement with our stakeholders, particularly with the important group of institutional global investment funds. We hold the view that participating in GRESB benchmarking will add value in measuring sustainability performance. Increasingly, we also note that ESG factors have become one of the key investment criteria by institutional investors, and an independent GRESB scoring benchmark provides a consistent and effective way of communicating our sustainability track record and performance.
To access the full Sustainability Report, please refer to the following:
FY2020 Sustainability Report
Previous Sustainability Reports