Soilbuild Business Space REIT is pleased to issue its third annual Sustainability Report in line with the Singapore Exchange ("SGX") guidelines on Sustainability Reporting.
The Board views sustainability as a key consideration in formulating the business strategy for Soilbuild REIT. The Board recognises that Environmental, Social and Governance ("ESG") factors are increasingly valued by our stakeholders. Hence, the Board has been involved in determining the factors material to the organisation and has been overseeing the monitoring of these factors by the Management on a regular basis. Based on the materiality assessment, we have identified eight material topics and categorised them into three strategic pillars relating to the environment, our people and marketplace.
In 2019, efforts were made by the Manager to improve the efficiency of Soilbuild REIT’s properties. At West Park BizCentral, we replaced all fluorescent lights on the mezzanine floors and carpark with LED lightings. The LED lightings emit considerably less heat and have a longer service life which lowers both maintenance and energy costs. The LED lightings are also 50% more energy efficient than fluorescent lights.
For the annual customer satisfaction survey, the Manager achieved an average tenant satisfaction score of 98.9% across 5 service functions which include asset and lease management, marketing, finance, property management and carpark management. This is an improvement from the average satisfaction level of 97.5% in 2018 and a sign of encouragement from the majority of our tenants.
As part of our efforts to value-add to our tenants and implement various sustainability initiatives, we have partnered with Singapore Power ("SP Group") to provide high-speed electric vehicle charging points at West Park BizCentral. This partnership is aligned with our corporate sustainability goals and reflects our commitment to lower carbon footprint.
We have also made continual efforts to improve the efficiency of our buildings. Solaris in one-north was re-certified in 2019 and has won the Green Mark Platinum Award conferred by the Building and Construction Authority of Singapore ("BCA") under the BCA Green Mark Scheme for Existing Non-Residential Buildings.
As Soilbuild REIT embarks on its next phase of growth, we are committed to managing the relevant ESG risks and opportunities across our diversified portfolio to ensure the long-term resilience of our business as well as do our part in contributing to the environment and society in a positive way.
Looking forward, the Board will ensure that sustainability remains a core focus of Soilbuild REIT and would like to thank the Management and staff for their help in the preparation of this report.
MR CHONG KIE CHEONG