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Embedding Sustainability Within Our Core
FHT’s ESG strategy is aligned with Frasers Property’s ESG Framework which comprises three core pillars, namely, Acting Progressively, Consuming Responsibly and Focusing on People. We prioritise ESG-related focus areas within these key pillars that are most relevant for our hospitality business and operations.
To implement our strategy, we have established a sustainability roadmap, with annual targets to guide our overall sustainability approach and key initiatives. These targets contribute to the overarching long-term goals set out by our Sponsor as follows:
- Achieve net-zero carbon emissions across Scopes 1, 2 and 3 by 2050
- Install 215 MW of renewable energy capacity on properties by 2030
- Deploy group-wide climate risk analytics platform to identify, assess and manage climate-related risks by FY2024
- Have 100% by gross floor area of new development projects, and 85% by gross floor area of owned and asset-managed properties, be either green-certified or pursuing green certification by 2030
- Engage 75% of suppliers by spend on Responsible Sourcing Policy by FY2025
- Develop a framework to assess and prioritise biodiversity risks and opportunities by FY2025
The Year At A Glance
Board Statement
Recognising the imperative to embrace sustainability and being rooted in our Group-wide Purpose of – Inspiring experiences, creating places for good. – we have committed to drive actions across our sustainability commitments while enhancing the resilience of our portfolio of quality assets.
Frasers Hospitality Trust’s (FHT) FY2023 Environmental, Social and Governance (ESG) Report provides an overview of our sustainability performance and efforts throughout the year. This report signifies our accountability and transparency to our stakeholders as we strive to improve our operations and create longterm value through the three pillars of Frasers Property Limited (the Sponsor) Sustainability Framework – Acting Progressively, Consuming Responsibly and Focusing on People.
In FY2023, all our properties in the UK completed their BREEAM (Building Research Establishment Environmental Assessment Method) assessment and are awaiting their certification awards. Our Australia and Malaysia properties will be undergoing their green certifications in FY2024.
During the year, we continued with our decarbonisation efforts as well as undertook several initiatives to reduce the energy and water consumption and waste generation across our properties where possible. These initiatives were aligned with our Sponsor’s goal of being a net-zero carbon corporation by 2050.
Testament to our continued efforts, we are proud to have achieved a score of 82 and a 4-Star Rating in the 2023 GRESB Real Estate Assessment, marking this the third consecutive year that we have attained improvements in our score and rating. We also maintained our third-place ranking in the ‘Asia Pacific Hotel - Listed’ category under the Assessment. This achievement is significant as stakeholders are able to benchmark FHT’s performance against its global real estate peers in the same sector.
In line with our sustainability roadmap, we continue to align this year’s sustainability disclosures with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
As the global tourism and hospitality industry continues with its recovery from the pandemic, it is important that we continue to embrace innovation and forge deeper partnerships to deliver on our sustainability commitments. We are grateful for the invaluable support of our stakeholders, who have enabled us to chart the path ahead to a greener future.
The Board of Directors will continue to fulfil its duties in determining, monitoring and managing our material ESG issues, providing strategic directions on sustainability as well as overseeing the standards and management processes needed to meet our sustainability objectives.
We look forward to progressing on this journey together.
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
FHT is dedicated to integrating ESG factors into its business choices, maintaining utmost integrity through established governance systems to address risks and opportunities. This is accomplished through robust policies that underpin our sustainability strategy and strengthen our business resilience. We actively strive to uphold responsible practices throughout our operations, continually evaluating our performance by benchmarking our properties against reputable green building certification schemes.
Consuming Responsibly
At FHT, we are committed to advancing responsible tourism and environmental stewardship within our hotels and serviced residences. Recognising our role in minimising our environmental impact, we ensure that sustainability is deeply embedded in our operations and value chain.
We strive to streamline our resource consumption by reducing waste generation, conserving energy and water, enhancing energy efficiency and using renewable energy where possible. This commitment is reinforced through the formulation of policies promoting positive environmental and social outcomes. Beyond that, we also pursue a collaborative approach in reducing our collective environmental footprint, actively encouraging sustainable practices among our employees, customers and guests, and property operators. We have set interim targets to be achieved by FY2024, using the baseline year of FY2018, which is the first year we began monitoring our environmental data.
Focusing On People
At the heart of FHT’s approach lies a people-centric strategy, driving satisfaction and value for our customers and guests, employees and staff at our properties as well as local communities. We seek to nurture our employees and prioritise the holistic well-being of all stakeholders, to deliver our shared Group purpose “Inspiring experiences, creating places for good.”
Our workforce is our most invaluable asset. As such, we are dedicated to cultivating a diverse, inclusive, and secure workplace and nurturing our team through continuous learning and development.
We also strive to create lasting value and contribute to the well-being of the communities in which we operate by continually investing in them through various initiatives that support health and education and protect the environment.
FHT's Sustainability Reports
You can download FHT's Sustainability Reports from the links below:
