Asia Pacific Capital Markets Hub 2024 - 2025

Underlying Asset Category

Industrial Parks

Consumer Infrastructure

Warehousing & Logistics

Rental Housing

Transportation Energy

Pollutant emissions Land use Environmental compliance management Green buildings Tenant communication Tenant health and safety Innovation driven development

Pollutant emissions Environmental compliance management Circular economy Green buildings Green commerce Tenant communication Tenant health and safety Consumer rights Innovation driven development Technology ethics Equal treatment of SMEs Smart operations Economic value

Green buildings Green leasing Renewable energy

Green buildings Green leasing

Environmental compliance management Circular economy Noise management Land use

Environmental compliance management Circular economy Green energy supply

Environmental topics aligned with the underlying asset classes

Employee compensation and benefits Road safety Smart highways

Work safety Digital operations Economic value

Work safety Tenant communication Smart

Employee compensation and benefits Tenant communication Tenant health and safety

Social topics aligned with the underlying asset classes

operations Community engagement

Community engagement Smart operations Fair rental allocation

Community engagement Smart operations

Source: Compiled by Cushman & Wakefield based on publicly available information

Although ESG reports have adopted the localized Guidelines for Preparing Sustainability Reports of Listed Companies issued by the Shanghai, Shenzhen, and Beijing stock exchanges, some topics in the Guidelines have certain limitations. The nature of listed companies differs from that of REITs. Listed companies are independent legal entities with their own organizational structures and employee systems, and the employee-related topics in the Guidelines — such as employee rights protection and occupational health and safety — are designed based on the employer-employee relationship and the responsibilities companies have towards their employees. However, REITs, as a financial product, do not directly employ staff themselves, making the applicability and importance of employee-related topics relatively low for REITs. Currently, ESG disclosure practices in the REITs industry mainly address employees in a broader sense, primarily referring to operational personnel who are employed by fund managers, operating institutions, project companies, and other related entities.

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