Driving Positive Impact with Sustainable Solutions for the “New Economy”
HONG KONG SAR – Media OutReach – 25 November 2020 – ESR Cayman Limited (“ESR” or the “Company”, together with its subsidiaries as the “Group”; SEHK Stock Code: 1821), the largest APAC focused logistics real estate platform, has reaffirmed its commitment to long-term sustainable growth by announcing its five-year vision roadmap and targets around ESG (Environmental, Social and Governance) performance.
Following the adoption of a Group ESG Policy and having laid the foundation of its ESG roadmap, ESR’s plan and targets are explicitly aligned with the UN Sustainable Development Goals (SDGs).
The Group has set out a clear vision and targets across the three key pillars of Human Centric, Property Portfolio and Corporate Performance. They include improving gender ratios, achieving zero workforce fatalities, a 50% increase in solar power generation, a 20% reduction in group-wide energy consumption, and US$15 million of social investment in local community foundations by 2030.
Jeffrey Shen and Stuart Gibson, Co-founders and Co-CEOs of ESR, underlined the importance of the roadmap and targets for the Company’s future: “We have been committed to ESG throughout the years and this move strengthens our commitment to a structured framework with tangible goals that we will achieve. Our goal is not just to become bigger but also better, as we continue to advance the industry as a leader and a responsible custodian of our natural resources, stakeholders and communities.”
ESR has achieved robust growth in recent years thanks to being well-positioned to capitalise on the secular growth trends in APAC. As the Group continues to strengthen its commitment to delivering the 21st century logistics infrastructure, the new economic paradigm in this uniquely challenging year has reaffirmed why responsible business will be more important than ever, both in the immediate recovery and longer-term.
“2020 has been shaken with global volatility across all markets. We recognise that the new economy must be built back by purpose-led and responsible businesses and the need to set an example for the industry — not only through eco-efficiencies but also by looking ahead towards opportunities to drive meaningful growth and improve key metrics. This is laid out in our five-year roadmap, a period which will be instrumental for ESR’s business. We look ahead with confidence to the progress and wins we hope to achieve together as we reach our ambitious targets,” continued Mr. Shen and Mr. Gibson.
In addition to its importance to ESR’s customers, business partners and employees, ESG is also increasingly critical from an investor perspective. Greater transparency and accountability on environmental and social matters is a key driver of ESR’s business as the Company’s ESG performance crystallises its approach to sustainability.
Emma Larsson, ESG Officer of ESR, commented: “We are especially conscious of our influence on our stakeholders and are excited and humbled to engage with them to drive positive impact. Our five-year roadmap begins with the scientific foundation that maps our risks, builds capacity in people and systems and then ensures that we foster a culture of learning and transparent communications, so we can hold ourselves fully accountable to progress and development.”
Strategies are in place to ensure that the 2025 targets are achieved. Firstly, ESR aims to integrate ESG considerations into all stages of the business cycle. This includes establishing data management systems, streamlining ESG data collection processes and developing policies while setting annual performance targets and reviews for a fully transparent process.
In order to promote health and wellbeing, engagement programmes with all ESR stakeholders will be strengthened, while conducting regular ESG risk assessments in building safety, energy efficiency, indoor environmental quality and waste and water management.
Across the region ESR is embarking on a climate impact study to shape the Group’s approach to climate adaptation. It also seeks to foster a culture of active ESG learning for employees. Lastly, ESR plans to progress further in ESG reporting each year. This will include a GRI adopted ESG report by 2022, improved GRESB scores and participation at a corporate level, as well as becoming a signatory of the Principles of Responsible Investment (PRI) by 2024.
Please refer to ESR’s ESG 2025 Roadmap for details.