About Us
Sustainability
At OUE, we are committed to exploring and adopting more sustainable ways of doing business that allow us to improve operational efficiencies, minimise our environmental impact and enhance social wellbeing.
Sustainability Governance
The Board of Directors assumes strategic oversight in setting sustainability goals and ensuring that sustainability is integrated into the Group’s overall strategy and operations.
The Board delegates its responsibilities to the Sustainability Steering Committee (SSC), which comprises C-Suite and Heads of Department. The SSC meets quarterly to discuss sustainability-related matters, key initiatives and progress made against sustainability targets and reports to the Board at least twice a year.
The SSC works closely with the Sustainability Task Force (STF), which is made up of representatives from various business units, to develop and implement action plans to achieve sustainability targets. The STF reports to the SSC on a monthly basis.
Sustainability Roadmap
OUE Group has embarked on a two-phased strategic project as part of a commitment to align its sustainability performance and targets with international benchmarks and climate pathways.
This exercise aims to keep the OUE Group at pace with the evolving sustainability reporting landscape as well as escalating challenges posed by climate change conditions, to ensure that its operations and activities are resilient, ambitious, sustainable and contribute to the global transition to a low-carbon economy.
Phase one:
ESG Target Recalibration
Phase one involved an extensive review of OUE’s Real Estate business segment’s ESG targets for recalibration, to align with industry peers, best market practices, national targets, and green building standards.
Phase two:
Sustainability Roadmap Development
Phase two involved the development of a sustainability roadmap towards achieving the recalibrated targets, advancing the Group’s sustainability performance, and managing sustainability-related risks and opportunities.
The two-phased strategic project commenced for the subsidiaries under the Real Estate business segment for OUE Limited and OUE REIT in FY2023, while the Healthcare business segment, including OUE Healthcare and First REIT, will embark on the ESG target calibration and roadmap exercise in FY2025.
OUE Group-Wide Focus
Stewarding the Environment
Reducing the environmental and climate change impact of our businesses
EMPOWERING COMMUNITIES
Creating social environments that generate positive impacts for our stakeholders, including our employees, tenants, suppliers, and the community
BUILDING TRUST
Upholding strong corporate governance and maintaining ethical business practices–the foundations for building trust with our stakeholders
STEWARDING THE ENVIRONMENT
OUE adopts active and prudent environmental management to mitigate the impacts of climate change and meet the rising demand for high-quality, durable, energy-efficient and resource-efficient buildings.
We work closely with the property managers and tenants of our buildings and leverage newer and more efficient technology to reduce our carbon emissions, reduce energy and water consumption, and minimise waste. We are also committed to sustainable procurement practices, from responsible sourcing to selecting suppliers and contractors that meet stringent environmental criteria and environmental management standards.
The following properties have received certification under the BCA Green Mark and LEED schemes.
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OUE BayfrontBCA Green Mark Gold
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OUE Downtown GalleryBCA Green Mark Gold
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One Raffles Place Tower 2BCA Green Mark Gold
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Mandarin GalleryBCA Green Mark Gold
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Crowne Plaza Changi AirportBCA Green Mark Gold
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OUE Downtown OfficeBCA Green Mark Gold
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One Raffles Place Tower 1BCA Green Mark Gold
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Hilton Singapore OrchardBCA Green Mark Gold
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Lippo PlazaLEED O+M V4.0 - Gold
Our Recalibrated ESG Targets
by 2030 & Beyond
Reduce absolute Scope 1 and 2 GHG emissions by 40%
Achieve 90% green financing*
Actively pursue opportunities in renewable energy use for commercial properties
Reduce water intensity for commercial properties by 25%
Reduce non-hazardous waste at commercial properties by 15%
Increase recycling rate to 12.5% at commercial properties
All main contractors for new developments to be certified by recognised environmental management standards**
Full implementation of Green Procurement Policy**
* Target is applicable to OUE REIT
** Target is applicable to OUE Limited
EMPOWERING COMMUNITIES
By staying attuned to the needs of our employees, tenants, guests and the wider community, we ensure that our buildings play a positive role in enhancing occupants’ health and well-being, and strengthening community cohesion.
By adopting a robust occupational health and safety management system, fair employment practices, zero tolerance towards discrimination of any kind, as well as a culture of continuous learning and development, we strive to create a safe and healthy work environment where our employees can grow and thrive.
As a long-standing partner of our community, we are also committed to bringing about meaningful and sustainable impact through community-based initiatives in areas such as education, healthcare, the arts, sports as well as humanitarian and social development.
Our Recalibrated ESG Targets
by 2030 & Beyond
25% of women represented on Board of Directors*
Proportion of women in senior management at 40% or above
Achieve at least 70% employee engagement score
Achieve >85% of employees’ participation in the annual engagement survey
30 training hours per employee
Include a target on specific ESG-related training
Contribute to communities’ social well-being through at least 2 community service events
Maintain zero incidents of discrimination
Maintain zero non-compliance with health and safety regulations and/or regulatory codes
Conduct social and environmental impact assessments for development projects**
All main contractors for new developments to be OHSAS 18001 or ISO 45001 certified**
At least 80% tenant satisfaction rate in relation to commercial properties
* Target is applicable to OUE REIT
** Target is applicable to OUE Limited
BUILDING TRUST
We build trust by conducting our business in compliance with applicable laws and regulations and adhering to the highest ethical standards.
To enable us to navigate through increasingly complex regulatory requirements, we have developed a comprehensive ethics and compliance framework, while our OUE Code of Business Conduct and Ethics serves as a guide for all our employees.
We also recognise the importance of digital trust. To keep up with increased digitalisation, we adopt industry best practices and invest in technology defence to manage cyber security risks while also complying with Personal Data Protection obligations.
Our Recalibrated ESG Targets
by 2030 & Beyond
Zero confirmed incidents of corruption
No incidents of non-compliance with laws and/or regulations
100% employee annual acknowledgement of all company policies, including Code of Business Conduct and Ethics
No cyber incidents or data breaches
For more information, please view our Sustainability Report.
If you have enquiries or feedback, please contact us at sustainability@oue.com.sg
Green Finance Framework
In line with OUE Limited's commitment to sustainability, we issued our Green Finance Framework (“Framework”) in 2024 to facilitate the issuance of green bonds and green loans to fund or refinance projects which will contribute to positive environmental and social impacts.
The Framework sets out the governance and process for OUE Limited and its subsidiaries, for the allocation and management of green proceeds raised. Eligible projects include green buildings, energy efficiency, pollution prevention and control, sustainable water management, renewable energy, environmentally sustainable management of living natural resources and land use, as well as clean transportation, which will also contribute towards the United Nations Sustainable Development Goals.
We will continue to monitor best practices and update the Framework to reflect changes in market practice.