Frasers Property Thailand Achieves ESG Milestone

Frasers Property Thailand has reached a significant milestone in its commitment to environmental, social, and governance (ESG) principles, marking its fifth consecutive year of recognition from both Thai and international sustainability standards. The company has been validated by the Science Based Targets initiative (SBTi) and has received an AA-level SET ESG Rating from the Stock Exchange of Thailand, showcasing its dedication to sustainable business practices.

Key Takeaways

• Frasers Property Thailand (FPT) has achieved an AA-level SET ESG Rating for 2024.
• The company is the first in Thailand’s real estate sector to have its near-term targets validated by the SBTi.
• FPT aims for net-zero carbon emissions by 2050, with a 42% reduction in greenhouse gas emissions by 2030.
• The company received an "A" rating in the GRESB assessment for sustainability disclosure.
• FPT has maintained a 5-star Corporate Governance Rating for five consecutive years.

Commitment To Sustainability

Frasers Property Thailand has demonstrated its commitment to sustainability through various initiatives and recognitions. The company’s management practices align with ESG principles, focusing on creating positive impacts for businesses, communities, and the environment. The AA-level SET ESG Rating from the Stock Exchange of Thailand reaffirms FPT’s dedication to good governance and risk management.

Achievements In ESG Ratings

FPT’s achievements in sustainability ratings include:

1. SET ESG Rating: AA-level rating for 2024, reflecting strong governance and stakeholder engagement.
2. GRESB Assessment: Achieved the highest "A" rating for sustainability disclosure, covering key areas such as:
   • Environmental and energy management
   • Biodiversity
   • Supply chain management
   • Social care and human rights policies

These ratings highlight FPT’s transparency in disclosing resource management data linked to its sustainability goals, including greenhouse gas emissions, water usage, and energy consumption.

Future Goals

FPT has set ambitious targets to further its sustainability efforts:

• Net-Zero Carbon Emissions: Aiming for net-zero emissions by 2050, encompassing Scopes 1, 2, and 3 emissions.
• Greenhouse Gas Reduction: Targeting a 42% reduction in emissions by 2030 compared to a 2021 baseline, supporting global efforts to limit temperature rise to 1.5°C.

These targets have been validated by the SBTi, making FPT a pioneer in the Thai real estate sector in this regard.

Corporate Governance Excellence

In addition to its environmental accolades, FPT has also excelled in corporate governance. The company received the highest level "Excellent" or 5-star Corporate Governance Rating (CGR) for 2024 from the Thai Institute of Directors Association (IOD). This recognition underscores FPT’s commitment to maintaining high standards of corporate governance and ethical business practices.

Conclusion

Frasers Property Thailand’s achievements in ESG milestones reflect its dedication to sustainable development and responsible business practices. As the company continues to set ambitious targets and receive recognition for its efforts, it stands as a leader in the Thai real estate industry, inspiring others to follow suit in the pursuit of sustainability and good governance.

Sources

• Frasers Property Thailand achieves new ESG milestone in 2024 with green | RYT9, RYT9.

Gaël Ovide-Etienne

Gaël oversees all marketing efforts for Ocean Worldwide. He manages marketing campaigns to connect with prospective buyers, conducts research and market analysis, and leverages AI to enhance all aspects of the business. This approach ensures better and faster results for our buyers and sellers.

See Full Bio