Biodiversity management is an issue of increasing importance at both the national and international levels, as natural resources and ecosystems are being threatened by urban expansion, real estate development, and climate change. To ensure that its business operations are sustainable and aligned with the United Nations Sustainable Development Goals (SDGs)—specifically SDG 14: Life Below Water and SDG 15: Life on Land—as well as the disclosure guidelines of the IFRS S1 and IFRS S2 standards under the ISSB criteria, and the Taskforce on Nature-Related Financial Disclosures (TNFD), the Company deems it appropriate to establish this Policy on Biodiversity Management to serve as a framework for:
- Preventing and mitigating the impacts of its business operations on biodiversity.
- Promoting the conservation and restoration of green spaces, ecosystems, and local flora and fauna.
- Creating shared value with communities and stakeholders surrounding its project areas.
Furthermore, this policy enables the Company to be prepared to respond to the environmental assessment criteria of the FTSE Russell ESG Rating, GRI 304: Biodiversity, and the guidelines of regulatory agencies, such as the Office of Natural Resources and Environmental Policy and Planning (ONEP), which emphasizes business operations that concretely consider biodiversity in project development areas.
The "Policy on Biodiversity Management" is established to define guidelines and govern practices related to biodiversity issues.
The "Policy on Biodiversity Management" is a policy that requires the Company and its personnel to have operational guidelines for managing biodiversity impacts that arise from the Company's business processes, as well as guidelines for overseeing these issues in accordance with the Company's regulations (EBD17, GRI304-1). It is divided into three sub-policies as follows:
- Establishing an operational framework,
- Prevention and restoration, and
- Knowledge dissemination on biodiversity.
Policy Implementation Plan 1 : Policy on Establishing a Materiality Framework for Biodiversity Assessment
The policy on establishing a materiality framework for biodiversity assessment consists of the following:
| No. | Details |
|---|---|
| 1.1 | The Company shall require the Product Development and Land Acquisition, Creative (Environment) Department, Construction Department, Community Service Department, Risk Management Department, and Accounting Department to jointly establish guidelines and criteria for assessing the biodiversity risks and opportunities for the Company's significant projects. |
| 1.2 | The Company shall require the Creative (Environment) Department, Construction Department, and Community Service Department to set a target for achieving a net positive impact on biodiversity (or to implement offsets for negative impacts). |
| 1.3 | The Company shall require the Product Development and Land Acquisition, Creative (Environment) Department, Construction Department, Community Service Department, and Risk Management Department to jointly assess the biodiversity risks and opportunities for the Company's potential future projects, in accordance with the assessment criteria specified in item 1.1. |
| 1.4 | The Company shall require the Sustainability Department to formally announce the biodiversity assessment criteria established by the Company. |
| 1.5 | The Company shall require the Sustainability Department to strictly monitor compliance with this policy. |
Policy Implementation Plan 2 : Policy on the Protection and Restoration of Flora and Fauna Habitats
The policy on the protection and restoration of flora and fauna habitats consists of the following:
| No. | Details |
|---|---|
| 2.1 | The Company shall require the Creative (Environment) Department, Construction Department, and Community Service Department to report on biodiversity habitats within or adjacent to its projects that meet the assessment criteria in item 1.1, and/or in areas protected and restored by the Company. |
| 2.2 | The Company shall require the Creative (Environment) Department, Construction Department, and Community Service Department to coordinate with external organizations involved in biodiversity, including public sector, private sector, or non-governmental organizations (NGOs), to find ways to reduce biodiversity loss in areas related to the Company's operations. |
| 2.3 | The Company shall require the Sustainability Department to review the Biodiversity Action Plan (BAP). |
| 2.4 | The Company encourages the Creative (Environment) Department and the Community Service Department to participate in biodiversity-related certification programs. |
| 2.5 | The Company shall require the Risk Management Department and the Accounting and Finance Department to jointly prepare a disclosure report in accordance with the recommendations of the TNFD and to ensure this information is included as part of the Company's annual report. |
Policy Implementation Plan 3 : Policy on Knowledge Dissemination on Biodiversity
The policy on knowledge dissemination on biodiversity consists of the following:
| No. | Details |
|---|---|
| 3.1 | The Company shall require the Human Resources Department to provide comprehensive and continuous training on biodiversity to its personnel. |
| 3.2 | The Company shall require the departments involved in procurement to provide comprehensive and continuous training and/or meetings on the topic of biodiversity to its external business partners. |
The expected outcome of the "Policy on Biodiversity Management" is that the organization's personnel understand and are able to implement practices related to biodiversity correctly, transparently, and verifiably