• Climate and Nature Transition Plan represents Frasers Property’s integrated approach to managing climate and nature-related risks and opportunities, supporting the Group’s business resilience across markets

• Developed in-house Climate Value at Risk platform to quantify business exposure to physical and transition climate risks, informing adaptation planning, investment decision-making, among others 

• Decarbonisation strategy to be driven mainly by incorporation of renewable energy sources, implementing energy efficient initiatives and reducing embodied carbon

   

Frasers Property Limited (“Frasers Property”, and together with its subsidiaries, the “Group”) today published its inaugural Climate and Nature Transition Plan (CNTP), which guides the Group’s transition towards a climate-resilient, net-zero carbon and nature-affirming future. The CNTP supports the Group’s commitment to achieving its Group Environmental, Social and Governance (ESG) Goals.

Drawing reference from recognised global frameworks and standards¹, the CNTP sets out the following: 

• Ambitions: The Group’s short-, medium- and long-term objectives for carbon, climate and nature

• Actions: Implementation and engagement plans to manage climate and nature-related risks and opportunities

• Accountability: Governance, metrics and targets to drive and monitor progress 

Wanshi Zheng, Group Chief Strategy & Sustainability Officer, Frasers Property, said, “As a multinational real estate investor-developer-manager, we recognise the interplay among carbon emission, climate and nature in real estate and the built environment.

This is why we are integrating both nature and climate within our CNTP to chart the pathways and considerations to bolster our ESG journey. To more effectively manage climate- and nature-related impacts, risks and opportunities across markets will require a whole-of-industry approach. We hope to bring our stakeholders, including our partners and value chain on board this journey in support of sustainable value creation together.”

Highlights from the CNTP

Climate Value at Risk (CVaR) platform

The Group has developed an in-house CVaR platform that quantifies its global portfolio exposure to physical and transition climate risks across time horizons and various climate scenarios. This in-house platform will enable the Group to better understand the parts of its portfolio that are at risk from climate change and adapt use cases to address these.

This platform aims to support the Group’s asset-level adaptation planning, investment decision-making, and strategic positioning in our key markets. 

Pathways to decarbonisation 

Frasers Property’s data-driven approach to decarbonisation involves evaluating strategies against various climate scenarios with consideration to geographic and market-level factors. Priority areas for decarbonisation across its value chain were identified to strengthen portfolio resilience. These include incorporating more renewable energy such as rooftop solar paired with battery storage, implementing energy-efficient initiatives including LED lighting, electrification of heating and hot water systems at developments, as well as reducing embodied carbon through usage of lower carbon intensity concrete.

“Our business has achieved reductions in our Scopes 1 and 2 emissions by more than 20% against our FY19 baseline. Guided by our CNTP, we continue to take the learnings from the encouraging progress on our climate and carbon-related efforts and will be applying them to our approach to nature,” added Wanshi.

Managing nature-related dependencies and impacts 

On the nature front, the Group conducted a preliminary Group-wide scan last year to broadly identify its nature-related dependencies and impacts across its value chain. The preliminary scan revealed potential nature-related risks and opportunities. These include physical risks from supply chain disruptions, access to water and exposure to climate-related disasters as a result of various climate scenarios. 

Opportunities identified from managing such risks included embedding nature into decision-making, particularly during the investment, design and construction stages.

Looking ahead, insights from the scan will inform the development of a Group Nature Framework which will support the CNTP, providing guidance on governance, metrics and implementation as the Group prepares for progressive TNFD-aligned¹ disclosures.

More details on Frasers Property’s CNTP and the Group’s latest ESG Report can be found at https://www.frasersproperty.com/who-we-are/sustainability/reports-and-policies. 

¹ Standards and frameworks referenced in the development of the CNTP include the Transition Plan Taskforce (TPT) Disclosure Framework, International Sustainability Standards Board (ISSB) IFRS Sustainability Disclosure Standards S1 and S2 and the Taskforce on Nature-related Financial Disclosures (TNFD).