19 Oct 2021
All listed and non-listed business units across its markets, including its five REITs, put up individual GRESB submissions this year for targeted sector benchmarking.
Frasers Property Limited (“Frasers Property”, and together with its subsidiaries, the “Group”), today announced that the Group has been recognised as a global and regional sector leader in five categories in the Global Real Estate Sustainability Benchmark (GRESB) 2021. The GRESB Sector Leader Awards recognises real estate and infrastructure companies, funds and assets that have demonstrated outstanding leadership in sustainability each year. All Frasers Property entities took part in the standing investments categories, with relevant entities also participating in the development projects categories. Frasers Property Group achieved top positions in the following categories:
Development projects categories
Frasers Property Industrial was named the Overall Global Sector Leader and Global Sector Leader in the Diversified - Office/Industrial category for its development projects in Australia (Score: 95 > Peer average: 90)
Standing investments categories
Frasers Property Industrial was recognised as the Overall Regional Sector Leader and Regional Sector Leader in Industrial for its existing Australian assets. (Score: 91 > Peer average: 73)
Frasers Property Singapore was acknowledged as the Regional Sector Leader for the Diversified - Office/Retail category (Score: 87 > Peer average: 75)
Frasers Property UK topped the local market’s Office/Industrial category (Score: 85 > Peer average: 68)
Frasers Centrepoint Trust (FCT), Frasers Property Industrial (Australia), Frasers Property Australia, Frasers Logistics & Commercial Trust, and Frasers Property Singapore received 5 Star ratings for their respective portfolios of existing assets. Among the entities participating in the standing investments categories, FCT achieved the highest overall score of 92.
In addition, Frasers Property Industrial (Australia) and Frasers Property Australia received 5 Star ratings in the development projects categories, with the former chalking up a score of 95. Frasers Property’s portfolio in Australia has maintained a 5 star rating since 2018.
Mr Chia Khong Shoong, Group Chief Corporate Officer, Frasers Property Limited, said: “This is the first year where all our entities across markets, including listed and non-listed ones, made individual submissions to GRESB to benchmark themselves in their respective sectors. Entities that participated previously showed strong improvement in their overall scores. We value the sector-specific benchmarking of our sustainability practices, which provides greater transparency and accountability to our stakeholders. These encouraging results reflect our deep commitment towards achieving key sustainability goals, such as having climate-resilient portfolio adaptation and mitigation plans by 2024 and achieving net-zero carbon by 2050.”
He added: “To date, Frasers Property’s listed vehicles are the only real estate entities on the Singapore Exchange to make a commitment towards tackling all three scopes of carbon emissions. Not only will we monitor, directly reduce and offset carbon emissions from owned or controlled sources, we are also examining emissions generated indirectly as a result of business. We recognise the need for responsible sourcing and are working closely with external parties such as our tenants and vendors to reduce our carbon footprint across the value chain. Creating a positive impact to people, communities and the planet through our properties is ultimately part of Frasers Property’s purpose of ‘Inspiring experiences, creating places for good’.”
Mr Sebastian Roussotte, CEO of GRESB, said: “GRESB Sector Leaders are the organisations that are setting the pace and driving progress toward a net zero future. We are proud to recognise your determination, achievement, and leadership in creating a more sustainable world.”
Each year, GRESB assesses and benchmarks the Environmental, Social and Governance (ESG) performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability topics. The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations.
More information on Frasers Property’s Group-wide sustainability goals and initiatives, including its net-zero carbon roadmap, can be found at https://www.frasersproperty.com/who-we-are/sustainability.