An innovative culture enables our business to stay relevant and meet the expectations of our stakeholders. We encourage innovation across our business through partnerships and organic innovation in our pursuit to cultivate a customer-centric and collaborative mindset. In addition, we continue our efforts to innovate and improve processes to enhance the experiences of employees, tenants and customers, including adapting to their changing needs during the COVID-19 pandemic.

Our impact extends beyond our operations. We are aware of our role in influencing our supply chain to create sustainable value and encourage them to consider environmental, social and governance issues in their own businesses. In 2021, we conducted an internal consultation and materiality assessment to drive responsible sourcing and implemented a Group-wide responsible sourcing policy and workplan. Our impact extends beyond our operations. We are aware of our role in influencing our supply chain to create sustainable value and encourage them to consider environmental, social and governance issues in their own businesses. In 2021, we conducted an internal consultation and materiality assessment to drive responsible sourcing and implemented a Group-wide responsible sourcing policy and workplan.

Frasers Property sees diversity and inclusion as integral parts of our culture and identity. We are building a culture where differences are valued and respected, knowing that such diversity brings us closer to the communities we serve. We strive to create workplaces where everyone feels empowered to be authentic at work. That's why, in 2020, we established a Group-wide Diversity & Inclusion Policy and pledged to the UN Women's Empowerment Principles to advance and empower women at the workplace. 

To future-proof our business, it is integral to comprehensively assess environment, health and safety and social risks associated with our business. That is why we have set ourselves the goal to establish holistic overarching internal policies to govern and guide management of the focus areas. In FY20, we introduced a Group Corporate Social Responsibility Policy, while all of our business developed their own sustainability workplan aligned with the Group goals.  

At Frasers Property, we encourage the efficient use and management of resources to curb waste generation. We are aiming to expand the coverage of data monitoring of waste generated and recycled in our asset portfolio. We are also on track to phase out single-use plastics in rooms and food and beverage of our managed hospitality assets by 2021.

We believe promoting the health and well-being of our stakeholders would lead to increased productivity and work satisfaction and reduced workplace risks associated with safety. This took even greater prominence with the impact of COVID-19. As a business, we are building wellness into culture to positively engage employees and by creating awareness of health management, support mental wellness.

We invest strategically, taking into consideration financial as well as environmental, social and governance criteria in the evaluation process to deliver long-term economic performance. Our goal is to finance majority of our sustainable asset portfolios with green and sustainable financing by 2024. We also seek to certify all new development projects with third-party and relevant green building schemes by 2021 and 80% of owned and managed assets by 2024.

Water is a scarce resource. That's why in 2020 we set ourselves the goal to reduce indoor water demand for all new developments by 15% compared to a standard practice building. We also aim to continually raise water consumption data coverage for landlord- and tenant-controlled areas in our operating assets.

A successful real estate development goes beyond its design and layout. It also considers the community planning and transformation to bring people together for long-term health and sustainability. We aim to create places for social connectedness and community resilience to grow organically. We strive to build communities that thrive as places to live, work and play, working in partnership with local communities and non-profit organisations.

Both climate science and the evidence from climate change-related events have clearly shown the need for businesses to identify, understand and manage climate risks within their operations. If not mitigated at an early stage with conscious planning, climate risk will affect a business portfolio valuation and financial standing in the long term. To make informed decisions in all stages of our value chain, we have commenced climate risk assessments across our business so that we can implement asset-level adaptation and mitigation plans aligned to the Task Force on Climate-related Disclosures framework by 2024.

The built environment is one of the largest sourcesof energy use and carbon emissions globally. We recognise this implication and proactively manage our energy consumption and carbon footprint in our building operations. We have also set an ambitious target to achieve net-zero carbon emissions by 2050.

We invest in learning and development programmes to equip our employees with the right skill sets and capabilities to build and empower a future-ready workforce. Our aim is to train all employees on sustainability by 2021 and achieve 40 average training hours per employee each year.