Sustainability

Key Stakeholders
Commitment to Stakeholders
Stakeholder Engagement
Value Chain
UOL is committed to delivering long-term economic viability through disciplined financial management and capital allocation, gradual diversification of our income streams and maintaining a suitable property portfolio. Our sustainability strategy is built upon our commitments to our key stakeholders who are identified based on the significance of their respective impacts on the Group, and vice versa102-42.

102-42: Identifying and selecting stakeholders
UOL's Commitment to Stakeholders
Our ongoing communications with our key stakeholders allow us to address their concerns and develop a deep understanding of their needs. Considerations from our key stakeholders are incorporated into our business activities and strategy development, as well as our reporting.

A summary of our stakeholder engagement is available here.

Summary of Stakeholders Engagement
102-40: List of stakeholder groups
102-43: Approach to stakeholder engagement
102-44: Key topics and concerns raised
Engaging our key stakeholders enables us to make a positive impact across the industry value chain, beyond our immediate business activities.

We review and monitor the safety and environmental performances of main contractors at the selection and project implementation phases. We believe in a progressive approach, setting achievable targets, thus sending a signal of material concerns to our business. This encourages the main contractors to develop internal capacity to achieve good performance in a sustainable manner. Our aim is for good practices to be extended across all their projects, thus creating a positive ripple in the construction industry. All our main contractors are OHSAS 18001 and ISO 14001 certified.

Stakeholders Phase

Specific stakeholders at each phase may differ based on several factors, such as type of development (residential, commercial, hotels) and other location-specific characteristics.

We build our institutional knowledge by interacting with our stakeholders across multiple projects. At bi-weekly meetings, project managers share both positive and negative experiences encountered. Any design-related feedback is also communicated upstream, such that good practices will continue to be adopted while avoiding undesirable details. The regular discussion enables timely review of ongoing projects, should any details need to be improved.

Our hospitality business consumes large quantities of products. We seek to influence our suppliers with our preference for environmentally-friendly and socially-conscious products that are also commercially feasible. These products range from amenities, paper products, pest control services and laundry services. We apply various criteria including ISO 14001 certification, Forest Stewardship Council (FSC) certification, FSC Chain-of-Custody certification and Singapore Green Label. We also aim to support local businesses where possible, especially in our overseas operations in developing countries.

UOL adheres to principles set out in the Singapore Code of Advertising Practice in our marketing practices. This code is based on the premise that all advertisements should be legal, decent, honest and truthful.

We seek to influence our tenants and guests to join us in our corporate social responsibility efforts.