Task Force on Climate-Related Financial Disclosures ("TCFD")
|TCFD Pillar||PRIME's Approach|
|Governance||We have appointed our ARC on behalf of the Board to oversee ESG initiatives and strategy of PRIME. Our management team works closely with our property manager to develop and implement ESG-related initiatives.|
|Strategy||We actively engage with our property manager to understand climate-related risks and opportunities on the propertylevel to make informed strategy-setting for addressing such risks and opportunities. This includes considering scenario analysis on impacts to our portfolio in future. We will provide updates to this in the following Sustainability Report for FY2023.|
|Risk Management||We have a Sustainability Risk Framework and Climate Risk Register that was approved by the Board in February 2023. This Framework guides our risk management approach, modelled after our Enterprise Risk Management Framework, but with differences intended to cater to the nature of climate-related risks, such as having a longer time horizon of risk identification and assessment. The Climate Risk Register is in the process of being populated with identified risks and proposed mitigation plans, and will be reviewed by the Board on a quarterly basis.|
|Metrics and Targets||We have collected and disclosed Scope 1 and 2 emissions from operations in accordance with the GHG Protocol Corporate Accounting and Reporting Standard. We are in the process of improving data collection mechanisms on further metrics identified to monitor climaterelated risks, such as water and waste-related metrics, which will allow us to perform more informed target setting. We will provide updates to this in the following Sustainability Report for FY2023.|
For more information, please refer to page 112 of PRIME's 2022 Annual Report.