Main climate risks and opportunities identified at Property Development and Managed Properties as well as potential financial implications and mitigation measures can be found below. CLIMATE CHANGE | STRATEGY PHYSICAL RISKS TRANSITION RISKS Risks Financial Implications Mitigation Measures Increased extreme weather conditions • E.g. heavy rainfall in summer which lead to urban water logging in cities Increase in costs, such as the bearing capacity of drainage facilities which are considered in advance during the planning and design stages will indirectly increase the project cost. Risks factors are considered in advance during planning and design phases, taking into account the budget and project management capacity. Yanlord responded to the Guidance from the General Office of the State Council on Promoting the Construction of Sponge City by holistically considering aspects of rainwater absorption, storage, seepage, and water purification in projects, as well as recovering rainwater for use in greening and irrigation, as part of our adaptation to climate change. Risks Financial Implications Mitigation Measures New policy and regulations ‘Emission Peak’ and ‘Carbon Neutrality’ pledge made by the PRC and Carbon Pricing in Singapore • Emerging low-carbon technology • Increased stakeholder concern • Shifts in consumer preferences • Policy compliance cost • Carbon tax passed on to end consumer in the form of higher electricity prices • Devaluation of assets • Reputational and legal impact Yanlord considers the impact of climate change throughout the entire life cycle of project development (including design, procurement, construction, operation and maintenance), and provides fully-furnished houses to reduce secondary pollution from tenants’ furnishings. We actively explore and use low-carbon and energy-efficient products and materials; for example, Yanlord adopted use of prefabricated buildings in multiple projects and uses practices such as ‘building houses like building blocks’. Opportunities Market Opportunities Plans to Leverage on Opportunities Regulatory opportunities • More regulatory requirements for green buildings due to climate change • More incentives for developers on green buildings, to achieve the PRC’s goal of becoming “carbon neutral” by 2060 • Increase in customer awareness of the benefits of living in green developments Yanlord is recognised as a leader in construction quality within the industry, making it the preferred choice of the government and customers. Yanlord continues to strengthen its R&D efforts in greening our buildings through continuous upgrading of our spaces. See pages 64 -71 for more information on our green building management. Contents Introduction Approach to Sustainability Upholding Good Governance Caring for Our Customers Empowering Our People Preserving Our Planet Creating Shared Value for Our Society GRI Content Index 61 Yanlord Land Group Limited Sustainability Report 2024
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