Economic Sustainability
At PRIME, we believe that sustainable business practices create lasting value – not just for our business, but for our employees, tenants, communities, investors and other stakeholders. We strive for economic growth that balances financial success with environmental and social responsibility.
While our operations generate positive impacts by enhancing property value, supporting local communities, and fostering a healthy work environment, we recognise that they can have unintended impacts as well. For example, our business operations create GHG emissions that can contribute to global warming, and some of our properties are located in drought-prone areas and might put a strain on limited water supplies. To address this, we proactively integrate ESG considerations across our business, ensuring responsible investment decisions, risk management and business operations.
This year, we strengthened our sustainability efforts with key initiatives that focus on.
- Ensuring compliance with health and safety standards, as well as the air and water quality in our buildings,
- Implementing energy and water efficiency technologies to conserve resources and reduce operational costs, and
- Engaging with tenants and local communities to foster collaboration and shared responsibility
We track our economic performance through financial metrics such as distributable income and net property income. These metrics are reported regularly and transparently via quarterly business updates or financial results announcements, and our annual reports. Beyond financial metrics, we use tenant engagement and insights from our annual Kingsley survey to shape our operational strategy and continuously refine action plans through ongoing feedback loops with our tenants.
For more information on PRIME's Economic Performance, please refer to the Financial Review section on page 89 of PRIME's 2024 Annual Report.