03 Aug 2023
On 14 July, over 100 partners and tenants and from across 13 Frasers Property Singapore malls gathered for a retail tenant engagement event centred around the theme of sustainability. Through a panel discussion, panellists from our partners, including McDonald’s Singapore, FairPrice Group and Green Lab, shared how we can collaborate to integrate sustainability into our business operations.
Ms Soon Su Lin, Chief Executive Officer (CEO), Frasers Property Singapore, said: “It was heartening to see how this event brought together businesses to network and exchange ideas on sustainability to build a greener retail ecosystem. We look forward to partnering more of our retail tenants on the path towards decarbonisation. While we may be at different stages of our own sustainability journey, we all share the same vision – which is to play our part for the planet and for the future generations even as we drive our businesses forward.”
As part of our Groupwide goal to become a net-zero carbon corporation by 2050, we have established sustainability goals which include becoming climate resilient, green-certifying 80 per cent of our owned and asset-managed properties, and financing the majority of our sustainable asset portfolios with green and sustainable financing. Making progress on these goals, Frasers Property Singapore has green-certified 90% of our Singapore owned and asset-managed retail and commercial portfolio by gross floor area, financed majority of our sustainable asset portfolio with green and sustainable loans, and is on track to validate our science-based targets by 2024. To reinforce our commitment towards supporting Singapore Green Plan 2030, Frasers Property Singapore also signed up as a Champion in the Green Nation Pledge, an initiative by the Ministry of Sustainability and the Environment.
To create a more environmentally friendly retail ecosystem, it is essential for us to collaborate with our tenants, business partners, suppliers, vendors, and the community to inculcate more sustainable practices
Mr Low Chee Wah, Chief Executive Officer, Frasers Property Retail, said: “As a provider of real estate space, we have the responsibility to create a sustainable built environment as buildings last for a long time. We believe that the collective approach is better and if we do not embrace sustainability as individuals, as a community or as an organisation, the collective negligence will also be amplified. Thus, we hope that this platform will be able to plant a seed of thought on sustainability, and get the business community to explore the latest trends, technologies, and strategies that can transform our businesses into beacons of sustainability.”
Mr Tan Kee Yong, Chief Operating Officer, Frasers Property Retail shared our sustainability framework during the event. These include having a baseline data for informed decision-making, and a clear environmental, social and governance (ESG) strategy and structure that aligns with international frameworks and standards. These will go hand-in-hand with enhancing our innovation capabilities and culture as well as strengthening our stakeholder engagement and communications.
He also shared that 12 out of 13 Frasers Property Singapore’s malls have been certified with the Building and Construction Authority (BCA) Green Mark, with five properties certified to the highest Green Mark Platinum level, including Century Square, Causeway Point, Eastpoint Mall, Hougang Mall and White Sands.
During the event, Frasers Property Singapore shared more about our sustainability framework and our journey to be a net-zero carbon corporation by 2050
Mr Kew Yuan Chun, Head of Sustainability and Safety, Frasers Property Singapore, highlighted some key ESG initiatives that the organisation took part in.
Notably, our malls – Tampines 1 and Century Square – will serve two out of three injection nodes in Tampines Distributed District Cooling (DDC) network, Singapore’s first brownfield cooling solution, under a collaboration with SP Group and Temasek. In support of SG Green Plan’s push for green mobility, Frasers Property Singapore will deploy over 50 electric vehicle (EV) charging points, with 36 of them at our malls.
He added that while the journey to sustainability comes with challenges, innovation and fostering collaboration is key to overcoming these obstacles and creating a positive impact on our environment and society.
No plastic, no straws, no problem: Panel discussion on building a greener retail ecosystem
Three esteemed panellists, (from second left to right) Mr Chan Tee Seng, Chief Sustainability Officer, FairPrice Group, Mr Benjamin Boh, Managing Director, McDonald’s Singapore and Mr Muralikrishnan, Group Chief Executive Officer & Founder, Print Lab & Green Lab, joined Chen Fung Leng, Vice President, Investor Relations, Frasers Centrepoint Asset Management, to discuss the topic of “Building a Greener Retail Ecosystem Together”
Before the recent enforced five cents per plastic bag charge for supermarkets, FairPrice already had its own “no plastic bag” scheme. This was revealed during the “Building a Greener Retail Ecosystem Together” panel discussion at the event.
“Since 2019, we have implemented a ‘no plastic bag’ scheme, with 11 supermarkets and 178 convenience outlets taking part in this initiative and the results were very encouraging. We had 70 per cent of our customers bringing their own reusable bags, resulting in 57 million plastic bags saved in 2022,” said Mr Chan Tee Seng, Chief Sustainability Officer of FairPrice Group. With the recent implementation of 5 cents per plastic bag charge, FairPrice Group is confident and optimistic that Singaporeans will rise to the occasion and be more conscious about the usage of plastic bags.
He was one of the three panellists, all from different industries, whom provided a deep dive into the considerations and collaborations required for a successful green retail ecosystem. The session was moderated by Mr Chen Fung Leng, Vice President, Investor Relations, Frasers Centrepoint Asset Management.
Fellow panellist, Mr Benjamin Boh, Managing Director, McDonald’s Singapore, shared his views on the importance of sustainability and how organisations can leverage themselves to do better.
Mr Boh said: “McDonald’s Singapore aims for all its restaurants to go beyond merely being a place that serves almost seven million customers per month but also a place that is green and sustainable.”
Already, McDonald’s restaurants across Singapore leverage on green materials in its construction and green practices in its operating procedures. Their Family Flagship restaurants such as those located at Jurong Central Park and Chua Chu Kang Park go above and beyond by showcasing green features like the green nature wall and solar panels.
“We are determined to use less materials whenever we can and if there is still a need for it, we strive to use better,” said Mr Boh. One example that he cited was the shift to straw-less lids in 2021, which eliminated the need for about 20 million straws annually.
Mr Muralikrishnan, a fellow panellist, said many local businesses are going ahead of the curve and transitioning towards eco-solutions. He is the Group Chief Executive Officer and Founder of Print Lab and Green Lab, Singapore’s first one-stop production plant for premium eco-friendly products.
According to him, there is a growing interest among citizens and businesses in increasing their environmental awareness, and Green Lab is at the forefront of addressing these inquiries and engaging in-depth discussions. One of their notable products is the CASSA180TM.
“Our CASSA180TM is a plant-based bag that is specifically made of industrial waste cassavas so as not to compete with the current food consumption. Our bags are printed with soy-based ink and are not harmful when accidentally consumed by animals. Furthermore, these bags can be dissolved in hot water and used to water plants.”
At Frasers Property Singapore, we know we can build a greener retail ecosystem when we work together with our business partners, tenants, suppliers, vendors and the communities where our properties operate in. We continue to invite like-minded organisations and stakeholders to join us in creating greater momentum towards positive change, for the people and planet.