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Sustainability
Funding our transition for a sustainable future
2018
Our first participation in green finance
2024
Our sustainability goal for green finance*
S$9bn
Total green financing raised**
*for majority of new sustainable property assets; **as at 30 September 2022
Green Finance Framework
To further our commitment towards responsible investment, we issued our Green Finance Framework in 2022 to facilitate the issuance of green bonds and green loans for the Group.
This framework guides our approach towards achieving our sustainability goal of financing the majority of our sustainable asset portfolios with green and sustainable financing by 2024. Proceeds from green finance will fund real estate projects that enable reductions in energy consumption, carbon emission, water consumption and waste generation.
We will continue to monitor best practices and update the framework to reflect changes in market practice.
The framework has been prepared in line with:
- International Capital Market Association’s Green Bond Principles (June 2021)
- Asia Pacific Loan Market Association, Loan Market Association and Loan Syndications and Trading Association’s Green Loan Principles (February 2021)
The framework has the following key criteria:
Eligibility criteria for use of proceeds
o Green commercial and residential buildings: Buildings which meet relevant green building regulations, standards or certifications.
o Green building portfolios: Entities, REITs that receive at least 4-star rating from the latest GRESB reports.
Project evaluation and selection process
o Assessment and selection by internal teams and business units, governed by Sustainability Steering Committee comprising senior management.
Management of proceeds
o Consistent tracking of green project register.
Reporting
o Green Bond Report to be published on our website.
Independent Assurance Report for Our Green Finance Framework
Frasers Property Treasury Pte Ltd (FPTPL) engaged Deloitte & Touche LLP to provide independent assurance on our Green Finance Framework (“Framework”), that the overarching criteria and guidelines of the Framework are in accordance with:
i. the Green Bond Principles June 2021 issued by the International Capital Market Association
ii. the Green Loan Principles February 2021 issued by the Loan Market Association, Asia Pacific Loan Market Association and Loan Syndications and Trading Association
