Sustainability Report 1 Indirect carbon emissions (or Scope 2 emissions) are GHG emissions from purchased or acquired electricity. Emission factors used for Singapore were derived from 2023 Singapore Energy Statistics published by the Energy Market Authority of Singapore. Emission factors used for China were derived from the Ministry of Ecology and Environment of the People’s Republic of China. 2 Due to the availability of more updated emission factors, the emission factor for Singapore has been updated from 0.4080 to 0.4168 kg CO2/kWh. 3 Due to the release of the 2022 edition of Guidelines for Accounting Methods and Reporting of Greenhouse Gas Emissions for Enterprises, the emission factor for each region in China has been consolidated into a single nationwide emission factor (0.5703 kg CO2/kWh). Energy and Emissions Performance Perennial Holdings’ primary energy source across its operations in Singapore and China continues to be purchased electricity from the grid, with a small portion of natural gas consumed at Perennial Qingyang Mall and PIHMH in Chengdu during the winter months. The Company is gradually adopting renewable energy in its operations, as seen in the installation of solar panels at PBC that currently contributes to 16% of the building’s total electricity consumption. In FY2023, Perennial Holdings’ total energy consumption was recorded at 57,184 MWh, of which 4,049 MWh was attributed to natural gas usage. This resulted in corresponding GHG emissions of 26,602 tonnes of carbon dioxide (“CO2”), of which 818.45 tonnes CO2 were Scope 1 GHG emissions. To ensure a like-for-like comparison with FY2022 figures, FY2023 figures have been adjusted to exclude the newly established PBC. In FY2023, total like-forlike electricity consumption (excluding PBC) was recorded at 46,073 MWh, a 0.5% increase from FY2022 values (see Figure 5), as operations in China resumed operations at full scale following the easing of COVID-19 measures. This resumption of full-scale operations also resulted in a corresponding slight increase in energy intensity, from 99.8 kWh/m2 in 2022 to 100.3 kWh/m2 in 2023. Similarly, like-for-like Scope 2 GHG emissions1 from electricity consumption increased by 2%, from 22,948 tonnes CO2 in FY2022 to 23,299 tonnes CO2 in FY2023 (see Figure 6). Due to the availability of more updated emission factor figures for Singapore2 and China3, the like-for-like Scope 2 GHG emissions for FY2022 has been restated from 27,093 tonnes CO2 to 22,948 tonnes CO2. Figure 5: Like-for-like Comparison of Electricity Consumption and Intensity CHIJMES Chinatown Point Capitol Singapore Perennial Qingyang Mall Perennial Jihua Mall Fengxian Hongqiao PIHMH Xiehe Energy Intensity (KWh/m2) FY2022 FY2023 46,073 4% 15% 23% 11% 10% 6% 11% 45,854 4% 15% 26% 11% 8% 6% 10% 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Electricty Consumption (MWh) Energy Intensity (KWh/m2) 115.0 110.0 105.0 100.0 95.0 90.0 14% 15% 99.8 100.3 5% 5% 50,000 120.0 Figure 6: Carbon Emissions and Intensity 4% 13% 12% 10% 7% 12% 16% 22,948 3% 13% 19% 13% 11% 12% 17% 23,299 24,000 2,000 0 Scope 2 Emission (tonnes CO2e) Carbon Emission Intensity (kgCO2e/m2) 60.0 55.0 50.0 45.0 40.0 35.0 30.0 FY2022 FY2023 21% 6% 50.0 50.7 6% 6% 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 22,000 CHIJMES Chinatown Point Capitol Singapore Perennial Qingyang Mall Perennial Jihua Mall Fengxian Hongqiao PIHMH Xiehe Carbon emissions intensity (kgCO2e/m2) 104 PERENNIAL HOLDINGS PRIVATE LIMITED
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