Frasers Property Thailand achieves new ESG milestone in 2024 with green certifications
- 1st real estate company in Thailand got approved near-term target setting by SBTi.
- SET ESG Ratings for fifth consecutive year
- ‘A’ rating for sustainability disclosures in GRESB 2024 assessment
BANGKOK, 17 DECEMBER 2024
Frasers Property (Thailand) Public Company Limited or “FPT” has demonstrated excellence as a business with strong long-term growth, validated by both Thai and international sustainability standards for the fifth consecutive year through SET ESG Ratings and GRESB. These recognitions reflect management practices that are aligned with environmental, social and governance (ESG) principles. Notably, FPT is the first company in Thailand’s real estate industry that its near-term target has been validated by the Science Based Targets initiative (SBTi).
This year, Frasers Property Thailand received an AA-level SET ESG Rating from the Stock Exchange of Thailand, reaffirming the company’s commitment to upholding good governance and risk management practices, prioritising key stakeholders and creating lasting impact for businesses, communities and the planet. Aligned with its Purpose – Inspiring experiences, creating places for good. – the company develops quality spaces under FPT’s integrated real estate platform across its residential, industrial, and commercial businesses to meet and address customers’ needs while creating positive outcomes for the communities.
Additionally, FPT participated in the GRESB assessment, a global sustainability standard that evaluates the sustainability performance of real estate and infrastructure investments. The company achieved the highest “A” rating for sustainability disclosure, based on sustainability performance covering environmental and energy management, biodiversity, supply chain management, social care, and human rights policies. This includes disclosure of resource management data linked to sustainability goals, such as greenhouse gas emissions, water usage, energy consumption, and sustainability projects conducted over the past year.
FPT has also announced its ambitious target to achieve net-zero carbon emissions by 2050 encompassing Scopes 1, 2 and 3 emissions, in line with the Group’s ESG Goals. In the near term, the company aims to reduce greenhouse gas emissions by 42% by 2030 compared to its 2021 baseline, supporting global efforts to limit temperature rise to 1.5°C. This commitment was validated and approved by SBTi on 12 September 2024, making FPT the first real estate company in Thailand to achieve this recognition.
In addition to these environment accolades, FPT also received the highest level “Excellent” or 5-star Corporate Governance Rating (CGR) for 2024 from the Thai Institute of Directors Association (IOD) for the fifth consecutive year.
