166 STRATEGICALLY ADVANCING GOVERNANCE We foster a strong compliance culture through continuous learning and development initiatives. Our approach includes annual compliance updates and comprehensive training programs delivered by the Compliance and Risk Management Department. In FY2024, the Compliance team conducted one compliance training and employees also attended a Group-level training to reinforce understanding of the Group’s internal policies and procedures. We have strict internal policies and procedures to ensure that ESR-REIT upholds the conditions specified in the Trust Deed and all applicable laws and regulations, including the Code of Corporate Governance 2018, the Code on Collective Investment Schemes and SGX-ST’s Listing Rules. As part of the Group’s broader compliance programme, all employees complete mandatory online training covering essential topics such as conflict of interest management, anti-bribery measures, anti-corruption practices, and corporate compliance policies. Detailed information about these policies are available here. Impact of Regulatory Compliance, Governance and ERM to Stakeholders Strong governance and compliance form the cornerstone of our business management, fostering stakeholder trust and sustainable value creation. For REITs, effective governance practices serve multiple critical functions under key regulatory frameworks including the Code of Corporate Governance 2018, SGX-ST Listing rules and the Code on Collective Investment Schemes. These frameworks establish essential requirements for Board composition and stakeholder protection, ensuring we maintain high standards of corporate conduct while protecting Unitholder interests. Through robust risk management and compliance frameworks, we manage various business risks, enhance our market reputation, and create enduring value. Our commitment to regulatory adherence not only safeguards against potential legal risks and financial penalties but also strengthens our position as a trusted market participant. How We Manage Regulatory Compliance, Governance and ERM We have implemented a comprehensive governance framework that upholds ethical conduct and responsible management throughout our operations, encompassing three key pillars: robust compliance mechanisms, proactive risk management, and continuous professional development. MATERIAL TOPICS: REGULATORY COMPLIANCE, GOVERNANCE, AND ENTERPRISE RISK MANAGEMENT Targets Time Horizon 2024 Performance Achieve zero lapse in corporate governance or corruption Perpetual Achieved zero lapses in corporate governance or corruption Achieve zero material incidents of noncompliance with socio-economic laws and regulations Perpetual Achieved zero material incidents of non- compliance with socioeconomic or environmental laws
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