Sustainability has always been embedded in our way of business. This year, in line with the newly implemented Sustainability Reporting requirements, the H-REIT Manager and the HBT Trustee-Manager, as Manager and Trustee-Manager of H-REIT and HBT respectively (collectively the "Managers") took the opportunity to formalise its strategy and targets for CDLHT. In this report, the Managers will share the targets that were reviewed by both the H-REIT Manager Board and the HBT Trustee- Manager Board (together the "Managers' Boards") which serve to oversee management and monitor the Environmental, Social and Governance ("ESG") factors that are material to CDLHT.
Having determined the material ESG factors, the Managers' Boards have set out several key focus areas for CDLHT and our stakeholders. During this process, the H-REIT Manager worked closely with its master lessees and the operators of the Singapore Hotels, who in turn, integrated elements of sustainability in their operations to add value for our stakeholders and to ensure that the growth of our business would incorporate sustainability efforts. We have showcased a few examples of such endeavors in the subsequent sections of this report.
This is the fifth year CDLHT has provided an update on sustainability but this year marks a milestone because the Singapore Exchange Limited ("SGX") has made it mandatory for all listed companies to produce a formal report on their sustainability practices. CDLHT is taking a progressive approach regarding its sustainability reporting. Our first mandatory sustainability report for 2017 presents and discusses sustainability within our Singapore portfolio. The scope of our report is expected to expand gradually over the years to include our overseas portfolio.
Click here for full details of Corporate Governance Practices.