MANAGEMENT APPROACH Oversight and Responsibilities The nominating and governance committee of our board of directors ultimately oversees ESG-related issues, while named executive officers sponsor related goals, targets and programs, and have defined, ESGrelated performance incentives. Our chief sustainability officer (CSO) oversees and directs the Sands ECO360 global sustainability program, which encompasses the company’s low-carbon transition initiative. Regional sustainability departments are responsible for managing and implementing low-carbon transition initiatives at the property level, working closely with other departments as needed. Additional details on management of climate risk and opportunities can be found in the TCFD index, which starts on page 103. Policies • Environmental Responsibility Policy • Sustainable Development Standards Targets and Commitments We set internal and external qualitative and quantitative targets for emissions and energy reduction, which include our 2025 science-based target of reducing emissions by 17.5%. Our program supports UN SDG 7: Affordable and Clean Energy. We are committed to transparency through disclosure of our performance on our low-carbon transition plan through annual ESG reporting, S&P Global’s Corporate Sustainability Assessment (CSA), CDP Climate and TCFD. Strategy Guided by the SBTi, we have focused our low-carbon transition strategy on reducing climate impact through energy efficiency, renewable energy and transportation. Our resorts leverage cutting-edge building technology for energy savings, and our Sands ECOTracker program provides a framework for managing our conservation initiatives. Energy Efficiency: Reducing energy consumption is our foundational strategy to decrease GHG emissions. We aim to design buildings that conserve electricity and deploy new technologies to reduce energy consumption during ongoing operations. Renewable Energy: We seek out renewable energy solutions to complement our existing systems, including on-site solar thermal and solar photovoltaic systems, and continually increase our purchase of renewable energy certificates in regions near our properties in Singapore and Macao to support the transition to zero-carbon grids. Transportation: We are focused on electrifying our equipment and transitioning guest shuttle buses to electric and alternative fuel sources, while leveraging carbon offsets for hard-to-decarbonize air and ferry travel and to lessen our transportation footprint. Training and Communications Training and communications on topics such as energy efficiency, renewable energy procurement and innovative trends in building and design are provided to relevant departments including facilities, engineering, procurement, and design and development. This input helps departments understand their connection to the company’s low-carbon transition strategy and how their efforts can impact achievement of our goals. Further, the board is updated on trends related to low-carbon transition, such as climate regulation, and receives information about our progress on science-based targets and climate-risk assessments. The board is also apprised of our performance on investor-related questionnaires including CDP Climate and DJSI, which contain climate-specific information. Evaluation and Adjustments Our properties are equipped with building management systems and submeters to track various energy-related key performance indicators (KPIs). We track and performmonthly trend analysis of electricity, natural gas and fuel use for our buildings and transportation services. We also conduct internal trend analysis to understand how weather, efficiency projects and business performance contribute to progress against our targets. Our Sands ECOTracker program provides visibility to coordinate all projects related to energy efficiency, reduction and innovation. Additionally, we assess and monitor the company’s climate-related risks through qualitative and quantitative analysis. Details are available in our TCFD index. In 2022, we completed the sale of The Venetian Resort Las Vegas. As a result, our science-based emissions target has been restated, reflective of our remaining portfolio. The pandemic also continued to play a role in our emissions performance, with reduced visitation in both Singapore and Macao at various points during the year. We expect normal operational levels to resume in the near future and remain committed to efficiency and renewable energy projects that create lasting performance. LOW- CARBON TRANS I T I ON APPENDIX GOVERNANCE SOCIAL ENVIRONMENT OUR PERFORMANCE INTRODUCTION OUR STRATEGY 57 CLOSING
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