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Leveraging Our Sustainability Core
As part of Frasers Property, FHT’s sustainability strategy is closely aligned with the Group’s Sustainability Framework. The three pillars of our Sustainability Framework — Acting Progressively, Consuming Responsibly and Focusing on People — continue to guide our approach and key priorities through to 2030. Branching off from the key pillars are 13 ESG-related focus areas which are adapted to suit our hospitality business and operations.
FHT’s framework also encompasses specific goals and targets, including the five long-term goals which had been established by the Group in 2020:
- To finance a majority of its new sustainable asset portfolios with green and sustainable financing by 2024
- To be a net-zero carbon corporation by 2050
- To be climate resilient and establish adaptation and mitigation plans by 2024
- To green-certify 80% of its owned and asset managed properties by 2024
To support these goals, we have identified key goals and targets to drive our sustainability agenda across our portfolio. We have started developing action plans to achieve our goals and measure our performance against tangible targets.
The Year At A Glance
Board Statement
This year’s World Tourism Day focused on the theme of “Rethinking Tourism”, calling for the hospitality sector to reassess and reinvent how the industry can deliver positive change for people while addressing climate change. The United Nations Secretary-General António Guterres also urged deeper investment in sustainable tourism to build resilience and protect our planet. As many countries ease into recovery following the impacts of the COVID-19 pandemic, the world is heralding a new era of responsible tourism that can change the world for good and enable countries and businesses to emerge stronger than ever.
With our agile workforce and the right sustainability foundations, FHT stands ready to contribute to this transformation. We strive to deliver tangible progress in environmental, social and governance aspects, guided by the three pillars of our Sponsor’s Sustainability Framework of Acting Progressively, Consuming Responsibly and Focusing on People.
In the financial year ended 30 September 2022 (FY2022), we embarked on a gap analysis exercise to assess our alignment with the Monetary Authority of Singapore (MAS) Guidelines on Environmental Risk Management. We maintained our active pursuit of green building certifications across properties, in line with our Sponsor’s Group goal of green-certifying 80% of our owned and managed assets. We also intensified our energy and decarbonisation efforts, including being part of Frasers Hospitality’s commitment to World Wildlife Fund (WWF) Singapore’s Plastic ACTion (PACT) initiative to move towards a circular economy. These support our Group’s goal to be a net-zero carbon corporation by 2050, and aligns with the Singapore Hotel Sustainability Roadmap launched in 2022 by the Singapore Hotel Association and Singapore Tourism Board in 2022 to enable the industry to integrate sustainability as a core value within the hotel ecosystem. The holistic well-being of our guests, employees and local communities remains our top priority, and we devote significant resources to training, engagement and community connectedness initiatives that enable a safe and healthy lifestyle.
Our efforts have borne fruit – demonstrated by FHT’s improved performance in the 2022 GRESB Real Estate Assessment, which we adopt to benchmark our sustainability performance against credible international standards. We recorded a significant improvement in our score and were ranked third in the ‘Asia Pacific Hotel - Listed' category, testament to efforts across all environmental, social and governance (ESG) aspects within the assessment, particularly in expanding data monitoring and reporting disclosures data monitoring. We build on this momentum in implementing positive changes in our operations and investment decisions.
With the support of the FHT Sustainability Task Force and our Sponsor, FHT Board of Directors (Board) continues to carry out its responsibilities in determining, monitoring and managing our material ESG issues, providing strategic directions on sustainability as well as overseeing the standards, management processes and strategies needed to achieve sustainability targets for the business.
Board of Directors
Frasers Hospitality Asset Management Pte. Ltd.
REIT Manager of Frasers Hospitality Real Estate Investment Trust
Frasers Hospitality Trust Management Pte. Ltd.
Trustee-Manager of Frasers Hospitality Business Trust
Acting Progressively
We are committed to upholding high standards of integrity and integrating effective corporate governance practices into the way we make decisions and manage risks.
Our Approach
- Robust policies drive our sustainability approach to enhance business resilience and deliver our business and sustainability objectives
- We strive to adopt responsible practices across our businesses, and to measure and benchmark our performance – for instance, by participating in recognised green building certifications schemes
Consuming Responsibly
We recognise that we have an active part to play in reducing the environmental footprint of our operations and value chain. Driven by our Group-wide goal of achieving net zero carbon emissions by 2050, we strive for responsible consumption and efficient operations in all our hotels and serviced residences. We are cognisant of the shift in expectations amongst our customers and guests who increasingly prioritise responsible tourism. For FHT’s properties to remain destinations of choice, it is imperative that we align our practices with customers’ expectations.
Our Approach
- Institute policies that drive positive environmental and social outcomes
- Promote sustainable practices and encourage our employees, customers and property operators to reduce their environmental footprint together with us
Our Goals and Progress
Focusing On People
We believe that people are our most valuable assets and that a resilient culture is fundamental to our growth and success. We are committed to creating positive and meaningful experiences with our employees, guests and the wider community, and we strive to harness innovation and best-in-class service to delight our customers and exceed their evolving expectations.
Our Approach
- Establish policies that focus on building our human capital and contributing positively to the communities
- Foster a culture of diversity and inclusion to connect with our stakeholders
Our Goals and Progress
FHT's Sustainability Reports
You can download FHT's Sustainability Reports from the links below:
