Link REIT (00823), by assessing climate risks and making investments in resilience, reduced property insurance premiums by 11.7%.

AXA Amsure Hong Kong and Macau, DEXIN, and Link REIT (00823), with the support of the Hong Kong Green Finance Association, today released a white paper titled "Connected Insurance for Sustainable Development: Encouraging Climate Risk Mitigation." By assessing climate risks and making targeted investments to enhance resilience, Link REIT, with the support of its insurance broker DEXIN Hong Kong, successfully reduced property insurance premiums by 11.7%, far exceeding the industry average of about 3%. More importantly, Link REIT linked claims ratios to premium reductions, further achieving an additional 7.5% reduction, creating a financial incentive to promote long-term investment in climate resilience initiatives. Kelvin Kwan, Managing Director of Sustainability Development and Risk Governance at Link, stated, "Climate risks are increasing and will continue to impact traditional insurance models. Our insurance framework linked to resilience provides a replicable blueprint for other asset owners, repositioning climate resilience measures not only as preventive actions but also as creating new value." The white paper introduces an innovative property insurance solution called Connected Insurance for Sustainable Development. Connected Insurance for Sustainable Development aims to integrate the impacts of climate risks with mitigation measures. The scheme rewards companies for taking innovative, proactive, and sustainable actions to address climate change, with the expectation that the industry will adopt such schemes more widely and promote investments in climate change mitigation. Edward Farrelly, Senior Vice President and Head of Real Estate Business for Dexin Asia, commented, "Dexin recognizes the importance of addressing climate change to the real estate industry. Our investments in risk management plans and the development of innovative insurance products demonstrate our commitment to advancing strategies aligned with climate realities. Through collaboration with industry stakeholders, we aim to establish a framework for reducing risks and promoting good mitigation measures, allowing businesses and communities to move towards a more resilient future together." Helen Yu, CEO of AXA Amsure Greater China, said, "We are delighted to release this white paper in collaboration with Link and Dexin, marking the first-ever collaboration between the real estate and insurance industries to share insights on addressing climate change and enhancing preventive measures. Through this partnership, we hope to promote Connected Insurance for Sustainable Development. This pioneering solution in our market, considering the impacts of climate risks and their mitigation measures, rewards and incentivizes companies to enhance resilience and take sustainable actions. The research results in the white paper demonstrate the potential of this scheme, and we hope to inspire the entire industry to work together for a better future for our planet and communities."