PAVILION REAL ESTATE INV TRUST
Malaysia | 5212.KL | Main
Reference
Report Year: 2024
Source Files:
Sustainability Committee
Sustainability Committee (5 pax) 🟢
- 3 meetings 🟢
Reporting
GRI, TCFD, IFRS S1, IFRS S2, Integrated Report 🟢
GHG Accounting
Pavilion REIT demonstrates commendable progress in GHG accounting, with Scope 2 emissions reduced by 5.5% from the 2019 baseline, largely due to Green Electricity Tariff (GET) subscriptions. Third-party verification by KPMG for Scope 2 and partial Scope 3 data enhances credibility. Scope 1 emissions are minimal, while Scope 3 reporting expanded to include business travel and commuting, showing transparency. However, full Scope 3 data collection remains incomplete as tenant electricity data for some properties is unavailable. Carbon intensity improved by 18.2%, reflecting efficiency gains. To strengthen efforts, Pavilion REIT should aim to capture complete Scope 3 data through tenant collaboration and set more aggressive interim targets to align with net-zero by 2050 ambitions.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | 7.3 tCO₂e 🟢 | From generator sets usage. |
| Scope2 | 79,056 tCO₂e 🟢 | Reduced by 5.5% from 2019 baseline; externally assured by KPMG. |
| Scope3 | 49,216 tCO₂e 🟢 | Includes tenant electricity, business travel, and commuting; partially assured by KPMG. |
| Biogenic emissions | Not applicable → | No biomass or biofuel usage reported. |
Other Details
- Base year: 2019
- Boundary inventory: Operational control over properties; Scope 1 (generator sets), Scope 2 (purchased electricity), Scope 3 (tenant electricity, business travel, commuting).
- Gwp basis: Malaysia Energy Commission 2021 Grid Emission Factor (0.758 tCO₂e/MWh) for Scope 2 & 3; US EPA GHG Emission Factors Hub 2024 for travel.
- Standard: GHG Protocol
- Third party verification: Scope 2 and partial Scope 3 (tenant electricity) verified by KPMG.
- Carbon intensity: 0.18 tCO₂e/m², verified 🟢
Efforts
- 5.5% Scope 2 reduction 🟢
- 31% renewable energy 🟢
- 627.6 tonnes waste diverted 🟢
- 26 EV charging stations 🌞
- LED & sensor lighting 🌱
Social Highlights
- RM0.3M for community 🟢
- 5,182 people engaged 🟢
- 495 volunteer hours 🟢
- 1,990 beneficiaries 🟢
- Limited data available ⚠️
Governance
- Salary disclosure: Can't find ⚠️
- Litigation: Can't find ⚠️
Report Quality
Commendable effort in sustainability reporting by Pavilion REIT with detailed metrics on GHG emissions, energy, and waste management 🟢. The report excels in providing quantifiable actions such as a 5.5% reduction in Scope 2 emissions and a 6.5% waste diversion rate from landfills. Third-party verification by KPMG for Scope 2 and partial Scope 3 data adds credibility. Forward-looking commitments like net-zero by 2050 and 50% renewable energy by 2040 are promising. However, there are gaps in complete Scope 3 data collection and limited social impact metrics ⚠️. Some statements, such as 'commitment to sustainability,' lack specific evidence or timelines. To improve, Pavilion REIT could enhance tenant data collaboration for Scope 3 emissions, provide more measurable social outcomes, and set shorter-term targets for interim progress tracking. Overall, the report provides a solid foundation but could benefit from deeper specificity and broader impact disclosure.
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