The manager of AIMS APAC REIT (AA REIT) has announced the advancement of several of the REIT’s key sustainability initiatives, according to a Dec 12 release.
Through the integration of sustainability principles and frameworks across its business processes, AA REIT is expected to build a “future-ready and resilient” portfolio, says the manager.
Under the advancement of its ongoing sustainability initiatives, AA REIT is set to achieve its long-term Science-based target initiatives (SBTi) goal to reduce scope 2 carbon emissions by 42% from FY2020 to FY3030.
Currently, the REIT has since started on its Phase 2 rooftop solar panel system across three properties in Singapore.
Once operational, the solar panels are expected to have a capacity of 3.65 Megawatt-peak (MWp), which will help avoid close to 2,000 tonnes of carbon emissions annually. This milestone positions AA REIT to achieve its medium-term target solar generation capacity target by FY2027, adds the manager.
Additionally, AA REIT has installed EV fast-charging stations across four of AA REIT’s properties in Singapore, which is set to facilitate the transition to greener mobility solutions and growing EV adoption.
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Meanwhile, AA REIT has also installed a smart lighting system at 20 Gul Way, which is expected to reduce energy consumption while maintaining operational efficiency. The system features energy efficient LED lighting, sensors and smart controls that optimise energy usage by automatically adjusting lighting levels.
Russell Ng, CEO of the Manager, says: “The advancement of these sustainability initiatives represent another milestone in our journey to integrate sustainability principles across AA REIT’s portfolio in Singapore. As we proactively work towards meeting our ESG targets, we aim to reduce our environmental footprint as well as empower our tenants to do the same, whilst generating incremental revenue and/or optimising operating costs.”
He adds: “These initiatives also align with our Sustainability-Linked Loan facility, which is structured to offer margin adjustments upon achievement of pre-determined sustainability targets. Sustainability is an ongoing journey and we will continue to seek best practices that can be expanded across our portfolio to create resilience and deliver sustainable, long-term value for our stakeholders.”
Shares in AA REIT closed flat at $1.25 on Dec 12.
