The company revealed five sustainability-related goals.
Real estate and property management company Frasers Property has revealed its commitment to be a net-zero carbon corporation by 2050 in its latest sustainability report.
The move will be aligned with the United Nations Sustainable Development Goals and the Intergovernmental Panel on Climate Change's recommendation, as the real estate industry contributed 39% of energy- and process-related emissions.
According to a media release, all of Frasers Property’s businesses would have “completed the development of their net-zero carbon roadmaps and carbon reduction targets using a science-based approach, and progressively implement strategies to achieve net-zero carbon by 2050.” Some of the businesses were expected to meet their respective targets before 2050, with one as early as in 2028.
The Singapore arm will be one of the businesses to complete its climate risk assessment aligned with Frasers Property’s overall sustainability goals, Frasers Property added.
“Sustainability is one of our core capabilities and we are targeting carbon neutrality across our properties by 2050, which is part of five sustainability goals driving our group-wide businesses,” Panote Sirivadhanabhakdi, group chief executive officer of Frasers Property, said. “We have further mapped out a sustainability roadmap to incorporate environmentally and socially friendly practices throughout the entire value chain—from investment to design, development and operations—with a focus on carbon reduction, energy efficiency, and innovative solutions.”
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