ESR-REIT Annual Report 2024 157 Our talent assessments are designed to evaluate candidates based on their skills, qualifications and potential for growth. To maintain an environment that reflects and safeguards the diversity of our community, we provide training and development opportunities that cater to the needs of all employees while promoting open communication and addressing unconscious bias. We remain committed to forming a diverse Board of Directors that accounts for the complexity of our business and the evolving industry landscape. Our formal Board Diversity Policy, established in FY2019 and reviewed in FY2023, prioritises the appointment of directors who can effectively mentor the Management to achieve our longterm goals by actively considering factors like industry expertise, age, gender, ethnicity, tenure and alignment with SGX-ST’s requirements. MATERIAL TOPIC: DIVERSITY AND EQUAL OPPORTUNITY Targets Time Horizon 2024 Performance Have four age group categories represented on the Board: 30–50, 50–60, 60–70 and >70 age groups Perpetual All four age groups are represented Have board members with various tenures with the Manager’s Board Perpetual Board members are from the ‘0-3’, ‘3-5’ and ‘5-7’ years tenures Appoint a female Board or NRC Chairperson Perpetual Appointed female Board Chairperson Have at least two female directors on the Board Perpetual Two female directors are represented on the Board Appoint at least two different ethnic groups on the Board Perpetual Three ethnic groups have been represented Appoint at least 50.0% independent Board members Perpetual Achieved regulatory requirement of having at least 50.0% of the Board being independent Appoint at least one Board member with no prior listed company board experience and/ or real estate funds management experience Perpetual One Board member appointed in FY2023 did not have prior listed company board experience at the point of appointment Two Board members appointed in FY2022 did not have prior listed company board experience during their appointments. As at the date of this report, they do not have other listed company board representation besides the Board of the Manager. Note: Refer to details in Principle 2 Board Composition and Guidance of Corporate Governance section on page 97. Impact of Diversity and Equal Opportunity People are our greatest asset and we strive to create a workplace where everyone can thrive. This means fostering an environment of inclusivity, respect and understanding, where diverse perspectives, skills and experiences are valued and leveraged. Our diverse workforce enables us to better serve the geographies we operate in, reflecting their changing needs, unique cultures and values. How We Manage Diversity and Equal Opportunity In accordance with the Tripartite Guidelines on Fair Employment Practices6 and the Ministry of Manpower’s Fair Consideration Framework7, we ensure that our hiring processes are free from bias, transparent and focused on individual merit. 6 https://www.tal.sg/tafep/getting-started/fair/tripartite-guidelines 7 https://www.mom.gov.sg/employment-practices/fair-consideration-framework
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