SUSTAINABILITY APPROACH Our business strategy continues to prioritise sustainability as a core element. By incorporating ESG factors into our strategic planning and daily operations, we aim to future-proof and prepare the REIT for enduring success, ultimately providing long-term value for our stakeholders. Our Sustainability Framework incorporates key ESG factors and are embedded into our sustainability framework, which aligns with the five Sustainability Real Estate Commitments outlined in our Asset Manager's Real Estate Sustainability Framework. Our sustainability framework guides our investment decisions, as well as our asset and property management practices. As part of our efforts to standardise sustainability practices, the sustainability-related policies and identified material ESG topics have been implemented and will be made available across MUST and its subsidiaries. SUSTAINABILITY FRAMEWORK AND MATERIALITY REVIEW MUST’s Sustainability Framework Our sustainability framework outlines our strategy through three key pillars: Building Resilience, People First and Driving Sustainable Growth. These pillars are underpinned by eight ESG focus areas, creating a comprehensive approach to identifying material ESG topics that align with MUST's sustainability objectives and Enterprise Risk Management (ERM) framework. We categorise each material ESG topic under its corresponding sustainability pillar. DRIVING SUSTAINABLE GROWTH Conducting our business responsibly to deliver long-term value to our Unitholders. This includes the sustainable allocation of capital, robust governance framework and proactive risk management practices. PEOPLE FIRST Ensuring the needs of our stakeholders are well-served is key to sustaining our business. This includes creating a safe and healthy environment, and safeguarding the wellbeing and interests of our employees, tenants, and local communities. BUILDING RESILIENCE Reducing the environmental impact of our properties and supporting the transition to a net zero economy. Nurturing our Talent Safeguarding Health and Well-Being Serving our Communities 8 Employee well-being, health and safety 9 Human rights and non-discrimination 10 Employment practices 11 Customer health and safety 12 Training and development 13 Diversity and inclusion 14 Community development 15 Marketing and labelling Economic Sustainability Governance Framework Engaging Investors 16 Corporate governance 17 Economic performance 18 Economic contribution to society 19 Supply chain management Climate Action Environmental Stewardship 1 Sustainable building 2 Energy 3 Water management 4 GHG emissions 5 Climate change mitigation and adaptation 6 Waste management 7 Biodiversity Material ESG topics and prioritisation levels Legend: Highly Critical Critical Moderate SUSTAINABILITY PILLARS APPROACH AND MATERIAL ESG TOPICS GUIDED BY MANULIFE INVESTMENT MANAGEMENT’S FIVE SUSTAINABLE REAL ESTATE COMMITMENTS IN OUR ACTIONS 1 Minimise our environmental footprint 2 Support health and wellness 3 Promote responsible business practices 4 Engage our stakeholders on sustainability 5 Be accountable for our performance MISSION Future-proofing our business to create long-term value for our stakeholders 70 | MANULIFE US REIT
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