At Fortune REIT, the Board has the fundamental responsibility to provide oversight and accountability of ESG strategy and reporting, with the assistance of the Sustainability Committee chaired by the Chief Executive Officer. Following the guidance and objectives set by the Board, the Sustainability Committee undertakes coordinated action towards sustainability and is responsible for identifying and prioritising sustainability issues that lay a foundation in setting the direction of Fortune REIT’s sustainability journey. Both sustainability risks and opportunities are considered during the process. The Sustainability Committee also assists the Board in measuring and reporting ESG performance and reports to the Board on sustainability issues, actions and initiatives.
Fortune REIT is committed to high standards of corporate governance and believes that good governance is crucial in maintaining and safeguarding the interests of its Unitholders and stakeholders.
To promote a high level of accountability, credibility and transparency, we have put in place a well-established framework of policies, processes and management systems.
At GRESB 2021, Fortune REIT becomes the first and only Hong Kong REIT earning the highest 5-Star rating and ranked first in the Eastern Asia Listed Retail category. Fortune REIT was also ranked fifth globally in the Listed Retail Entities category. Since its first participation in GRESB in 2019, Fortune REIT has made consistent and comprehensive improvements on multiple ESG fronts, such as building certifications and risk management.
Global Real Estate Sustainability Benchmark (GRESB) Assessments are investor-driven with the purpose of assessing and benchmarking the ESG performance of real asset sector portfolios and assets worldwide to provide standardized and validated data to the capital markets. It aims at capturing information on ESG performance and sustainability best practices for real estate and infrastructure companies, funds, and assets worldwide.
Since 2017, Fortune REIT is included under the Hang Seng Corporate Sustainability Benchmark Index, attaining a sustainability rating of A or above for 5 consecutive years, which is an affirmation of our persistent pursuit of excellence in Environmental, Social and Governance.
Hang Seng Corporate Sustainability Benchmark Index (HSSUSB) includes Hong Kong-listed companies that perform well with respect to corporate sustainability. Constituent selection is based on a robust process that includes consideration of the results from a sustainability assessment undertaken by Hong Kong Quality Assurance Agency (HKQAA), an independent and professional assessment body, using its proprietary sustainability assessment and rating framework. The process ensures that indexes in the Hang Seng Corporate Sustainability Index Series are objective, reliable and of high investability, making them excellent benchmarks for index funds that adopt a corporate sustainability theme.
100% of Fortune’s assets have achieved BEAM Plus Existing Buildings V2.0 Selective Scheme (Management) “Good” rating.
Ma On Shan Plaza has achieved BEAM Plus Existing Buildings V2.0 Selective Scheme (Energy Use) “Excellent” rating.
Fortune Metropolis has achieved BEAM Plus Existing Buildings V2.0 Selective Scheme (Water Use) “Excellent” rating.