144 STRATEGICALLY ADVANCING SUSTAINABILITY REPORT Japan 2023 Scope 1 & 2 Carbon Emissions (Location Based) 250 200 tCO2e tCO2e/m2 150 100 50 – 0.040 0.030 130.5 130.5 200.0 0.033 177.8 0.029 0.011 0.020 0.010 – 2024 GHG emissions and intensity for Japan MTBs Scope 1 & 2 Carbon Emissions (Market Based) Carbon Emissions Intensity (Location based) Carbon Emissions Intensity (Market based) FY2023 data has been restated to reflect the GHG emissions from the scoping of tenant and landlord’s grid electricity consumption. Corresponding to an increase in energy consumption from the acquisition of one property in Japan, absolute GHG emissions increased by 69.5 tCO2e. However, locationbased GHG intensity reduced by 13.6%, compared to market-based GHG intensity which reduced 68.0%. This large reduction of market-based intensity is due to the consumption of solar energy by the newly acquired property, ESR Yatomi Kisosaki Distribution Centre. 2024 Performance: GHG Emissions Singapore 2023 Scope 1 & 2 Carbon Emissions (Location Based) 20,000 15,000 tCO2e tCO2e/m2 10,000 5,000 – 0.100 15,938.3 0.091 0.099 14,657.8 13,034.5 0.084 0.078 12,105.8 0.080 0.060 0.040 0.020 – 2024 GHG emissions and intensity for Singapore MTBs Scope 1 & 2 Carbon Emissions (Market Based) Carbon Emissions Intensity (Location based) Carbon Emissions Intensity (Market based) FY2023 data has been restated to reflect the GHG emissions from the scoping of tenant and landlord’s grid electricity and solar energy consumption across ESRREIT’s portfolio. Corresponding to the energy consumption figures, absolute market-based GHG emissions also reduced by 17.4% in FY2024 due to the reduction in electricity use. There was a 15.2% reduction in location-based emissions intensity and 13.9% reduction in market-based emissions intensity. As ESR-REIT further expands our Solar Harvesting Programme, we expect to see a gradual reduction in our market-based emissions in the following years. Scope 3 Inventory This year, we have started assessing our Scope 3 inventory, to prioritise, quantify and manage our indirect emissions from our value chain. Among the 15 categories of Scope 3, we underwent a spend-based comparison and peer review to focus on the high-impact categories with available data. We shortlisted: • Category 1: Purchased Goods & Services • Category 2: Capital Goods • Category 3: Fuel- and energy-related activities • Category 6: Business Travel • Category 13: Downstream Leased Assets We will calculate Categories 1, 2 and 6 emissions using spend-based methods and Categories 3 and 13 using consumption data. We aim to enhance data accuracy by collecting more granular activity data, before expanding the assessment to other material Scope 3 categories.
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