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UOL has published its 11^th annual sustainability report titled “Shaping a Sustainable Future”, for the fiscal year 2023 on 15 May 2024. The report adheres to the GRI Standards and aligns with recommendations from the Task Force on Climate-related Financial Disclosures (TCFD).

During the year, the Group received an improved “AA” rating from MSCI ESG, positioning it among industry leaders in the real estate development and diversified activities industry. Last year, the Group embarked on the journey for the Global Sustainable Tourism Council (GSTC) certification and in February 2024, it was the first Singapore hospitality group to achieve the GSTC Multi Site certification for all its Singapore hospitality properties.

UOL’s commitment to doing its part for climate change remains high on the agenda. In 2023, the Group achieved a 20% reduction in GHG emissions for its commercial and hospitality properties compared with its 2019 baseline. Looking towards the future, the report outlines the Group’s proactive approach to climate change with a commitment to conducting climate scenario analysis in 2024 for assets in Singapore, Australia and the United Kingdom. This analysis will consider potential future climate impacts and inform long-term planning.

The fundamental belief that its people deserve to return home safely every day lies at the core of the Group. This commitment to employee safety is reflected in its target to achieve ISO 45001 certification by 2024 for all its commercial and hospitality properties in Singapore.

UOL Group Chief Executive Liam Wee Sin said: “Collective efforts and partnerships are crucial to addressing the complex environmental, social and economic challenges facing us today. We thank all our stakeholders for their continual support on our sustainability journey. We look forward to creating more value for our stakeholders and shaping a sustainable future for our current and future generations, together.”

Click here to read the full report.