Sustainability Governance and Policies
Effective corporate governance allows us to succeed in the long term and manage a wide range of sustainability issues. We are committed to a high level of business ethics for the benefit of our stakeholders. Our board oversees sustainability risks and opportunities and is supported by our leadership team and committees. The integration of ESG principles into our business operations and risk management is enabled by policies and processes which reference international standards.
Our Management Structure
To demonstrate NWD’s commitment to sustainability, we integrate sustainability management into corporate governance structures throughout the Group – from board-level committees to management-level group functions and business units. The Board of Directors fulfils its responsibilities by delegating to five board-level committees including the Sustainability Committee, which oversees the Group’s management of ESG and sustainability endeavours.
Memberships and Roles
Chaired by our Executive Vice-chairman and Chief Executive Officer, the Sustainability Committee generally comprises two independent non-executive directors and one executive director. The Committee directly oversees and advises on the Company’s sustainability strategy, work plans and performance targets to advance NWD’s ESG leadership.
Group Sustainability Steering Committee
The Steering Committee reports to the board-level Sustainability Committee and comprises senior executives from Group functions and major business units. The Steering Committee drives the practical implementation of sustainability initiatives and manages their performance to support the Sustainability Committee.
Group Sustainability Department
Reporting directly to the Executive Vice-chairman and Chief Executive Officer, the Group Sustainability Department drives SV2030 and relevant Group-wide initiatives across major businesses and functions. In particular, it furthers actions and impact towards a sustainable property lifecycle.
Group Sustainability Task Force
Comprising members from various business units across the Group, the Task Force serves as a knowledge exchange platform to drive ESG management and the implementation of SV2030. Task force members are also ESG Persons-in Charge, who support their respective business units in flagging ESG risks to the Group, implementing sustainability policies and compiling information for ESG disclosure.
Through communicating with our stakeholders regularly across various channels, we recognise key sustainability issues of interest to our business, as well as opportunities to further our efforts for sustainable growth.
Materiality evaluation helps us gain deeper insights into sustainability concerns relevant to various stakeholder groups and their perception of our sustainability results. The insights provide valuable guidance on how we form our focus and targets to lead the Group towards our SV2030 objectives and plan for upcoming initiatives.
We have a comprehensive set of policies which outlines our sustainability commitments and guidelines in our daily operations.
Group Sustainability Policy
This policy outlines our overarching commitments to minimising environmental impacts, promoting green and healthy living, and improving the quality of the communities where we operate while providing a reasonable return to our investors.
The Group is committed to protecting its reputation, revenues, assets and information from any attempts of fraud, deceit or other improper conduct by employees or third parties.
We are committed to safeguarding the health of our ecosystem and measures to minimise adverse environmental impacts in our operation.
Climate Change Policy
We are committed to managing and disclosing climate-related risks and opportunities across our assets.
Conflict of Interest Policy
This policy sets out basic principles and practices to protect the Group’s interests, preserve a reputation for integrity, secure the trust and loyalty of stakeholders and provide clear guidance to all directors and employees concerning the Group’s expectation in this matter.
Green Office Policy
The Group strives to ensure that it follows sound environmental practices in the workplace.
Group Risk Management Policy
The key objective of this policy is to establish a consistent basis for identifying, analysing, evaluating, treating, monitoring and reporting risks across the Group at all levels to support the achievement of the organisation’s overall strategic objectives.
Health and Safety Policy
We are committed to fostering a healthy and safe built environment and workplace for stakeholders.
Human Rights Policy
This policy formally documents the Group’s commitment statement and core principles on respecting the human rights of all those who work on behalf of the Group.
Supplier Code of Conduct
We are committed to corporate sustainability and actively seek to work with suppliers who value and act on the principles of sustainable development.
Sustainable Building Policy
We are committed to integrating sustainability considerations into the full building lifecycle from identification/acquisition of project sites, project design to property management, stakeholder engagement and risk management.
Sustainable Procurement Policy
The Group fully recognises the consequence of procurement activities on the environment, society and the economy. The Sustainable Procurement Policy acknowledges our responsibility to manage the impacts.
Waste Management Policy
The Group aspires to optimise resources throughout their lifespans and reduce waste disposal across daily operations.
We are committed to responsibly managing water resources for the benefit of our business and society.
The Group is committed to achieving and maintaining the highest standards of openness, probity and accountability. Employees at all levels are expected to conduct themselves with integrity, impartiality and honesty.
Since 2020, NWD has been a signatory and ardent supporter and is committed to adhering to all Ten Principles. This reaffirms our pledge to uphold labour standards and human rights, work in an environmentally friendly manner and uphold zero tolerance of corruption.
The Women’s Empowerment Principles, endorsed by NWD in 2020, is a joint initiative of UN Global Compact and UN Women. Developed in 2010, the Principles provide a holistic framework for empowering women and girls in the workplace, the marketplace and the community.
Since 2020, NWD has been a supporter of the TCFD, which was created by the Financial Stability Board in 2015. The TCFD develops consistent climate-related financial risk disclosures for use by companies’ banks and investors in providing information to stakeholders.