ENERGY MANAGEMENT

ENERGY REDUCTION STRATEGY AND PERFORMANCE

Electricity constitutes a significant proportion of the Company’s operational expenditure. It impacts the total amount of Scope 2 emissions released through our business activities. We place great emphasis on prioritising cost-effective improvements of our energy performance and reductions in our carbon emissions and energy intensities. In 2014, the Company became the first developer in Singapore to achieve the ISO 50001 energy management system certification for asset management. We continue to set energy reduction targets for our managed properties in Singapore with regular reviews and implementations of energy management plans.

Energy Reduction Strategy And Initiatives

Since 2004, the Company has retrofitted all our managed buildings by upgrading chiller plants, introducing motion sensors and installing energy-efficient lighting. Our cumulative initiatives since 2012 have continued to yield an estimated annual energy savings of approximately 14 million kWh, equivalent to approximately S$3.5 million/year of cost savings. We have also incorporated climate-resilient design and piloted solutions such as sustainable paints, more advanced energy-efficient air handling units with an Electronically Commutated (EC) fan, chiller plant optimisation and a micro-climate control solution at our investment properties to reduce heat gain and improve energy efficiency.

Accelerating Renewable Energy Solutions

The adoption of renewable energy is integral in the design and construction of our projects. In 2025, the Company was awarded a Power Purchase Agreement covering five commercial buildings to maximise solar energy adoption, and the installations have been successfully completed. In addition to installing solar panels at selected buildings since the early 2000s, we have progressively participated in the emerging Renewable Energy Certificates (RECs) marketplace since 2017. We invested US$20 million in the SC Renewable Energy Plus Fund, a Singapore limited partnership focused on investing in a portfolio of renewable energy projects and other energy transition real assets. These investments in stable, economically viable markets enable us to deliver attractive returns for investors alongside wider climate benefits.

Energy Efficiency And Reduction Performance

Since 2007, the Company has been tracking and reporting our environmental performance against our energy targets under our ISO 14001 and ISO 50001 environmental and energy management systems. Our interim targets are focused on making significant progress in reducing energy use intensity, with goals set at a 29% reduction for our managed buildings.

We monitor and drive energy efficiency and reduction improvements through target and performance tracking for development projects. Our current targets are to achieve an energy use intensity of 95 kWh/m² or lesser by 2030, with an interim target of 105 kWh/m² or lesser in 2025, for completed projects that have reached TOP status in the reporting year.

Total Energy Usage of the Company’s Operations in Singapore (MWh)

To align with our reporting scope for GHG emissions, the Company also reports the energy data of our subsidiaries. The tracking and reporting of our subsidiaries’ energy data not only ensures greater disclosure and accountability, but also enables the Company to strategically manage energy usage.