In our first half FY24 results announcement, Frasers Property reported progress on our net-zero carbon journey, which continues to be further enabled by like-minded partnerships, the conscientious pursuit of green certification across markets and steady advancements in our science-based approach to reducing carbon intensity.
The Group refreshed our Group ESG Goals, detailed in our FY23 ESG Report, in consideration of the evolving regulatory and ESG landscape, as we continue with efforts to create impact and shared value across our chain.
Strengthening disclosure standards with inaugural ESG Data Book
Following the refresh, we published the Group’s first ESG Databook and its accompanying Basis of Preparation document that sets out the foundation of our carbon accounting methodology, scope and assumptions – underscoring our commitment to ESG transparency and accountability.
The ESG Databook is intended to be a greenhouse gas inventory across Scopes 1, 2 and 3, offering insight into the emissions impact and management across the Group’s value chain. We aim to further enhance the coverage and accuracy of our ESG disclosures progressively.
An environmental progress update on Frasers Property's sustainability commitments at its FY24 half-year results
In parallel with our approach to quantifying our decarbonisation efforts, almost all of the Group’s business units have completed the development of their net-zero carbon roadmaps and carbon reduction targets using a science-based approach. The Group reported a 29% decrease in Scope 1 and Scope 2 location-based carbon emissions in FY23 compared to the base year of FY19. We are also in the process of developing a climate and nature transition plan, which will further steer our company as a responsible business in the markets where we operate.
In our commitment towards increasing renewable energy capacity on our properties, the Group has also installed a total 39MW of solar photovoltaic panels to date.
To date, 55% of our portfolio is green-certified, strengthening the trust our sustainability-minded tenants and stakeholders have in us as a responsible business.
Partnering for a sustainable value creation
Like-minded partnerships also remain pivotal for us to collectively lay stronger foundations to progress on our net-zero carbon emissions goal. This year, our Singapore business partnered SP Group on Singapore’s single largest solarisation roll-out for retail malls, and also teamed up with Green Eco Technologies to scale up implementation of the food waste valoriser across five of our malls.
Partnership for Singapore’s largest single solarisation roll-out for retail malls and other sustainable energy innovations
An Asia-Pacific Climate Leader
The progress has been further validated by the Group’s 5 June 2024 placement in the third edition of the Asia-Pacific Climate Leaders by the Financial Times and data provider Statista. This recognition affirms not only the Group’s progress on our Group ESG Goals, but also the dedication and continuous effort of teams across our markets.
The Group made our debut on the Asia-Pacific’s Climate Leaders 2024 list, which is curated based on independent desk research and surveys. The list features 350 Asia Pacific-based companies that have demonstrated progress in relation to successfully reducing core greenhouse gas emissions relative to their revenue and fulfilling further climate-related criteria.
