Climate Change Data

Far East Hospitality Trust

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:15,302 tCO2e
Scope 1 Emissions:1,455 tCO2e
Scope 2 Emissions:13,847 tCO2e
Total Energy Consumption:33.2 million kWh
Water Consumption:419.8 m3

ESG Focus Areas

  • Economic Performance
  • Climate Resilience
  • Occupational Health and Safety
  • Talent Development
  • Diversity and Equal Opportunity
  • Customer Health and Safety
  • Community Well-being
  • Water Management
  • Sustainable Supply Chain
  • Ethics and Compliance
  • Tenants’ Well-being

Environmental Achievements

  • Energy consumption and carbon emissions intensity per occupied room decreased 1.2% and 1.6% year-on-year, respectively.
  • 5 properties certified under the Green Mark scheme by the Building and Construction Authority (“BCA”) of Singapore.
  • Completed a feasibility study for upgrading the chiller system at Village Hotel Changi aiming to reduce energy consumption by 40% to 45%.

Social Achievements

  • Education Assistance Scheme benefited 10 children, more than doubling from the prior year.
  • Employee survey received a participation and engagement rate of 100%.
  • Zero fatalities and occupational diseases.

Governance Achievements

  • 50% of female directors on the Board, exceeding the recommended target set by the Council for Board Diversity for listed companies.
  • Ranked 2nd in the Singapore Governance and Transparency Index
  • Winner of two awards from the SIAS Investors’ Choice Awards: Shareholder Communication Excellence Award and Singapore Corporate Governance Award
  • Zero case of incidents relating to corruption, non-compliance and data leaks, theft or breaches.

Climate Goals & Targets

Long-term Goals:
  • Achieve net-zero emissions by 2050
Medium-term Goals:
  • Assess an appropriate intermediate emissions target for 2030
Short-term Goals:
  • Reduce the average energy intensity (per occupied room) of Far East H-Trust properties by 2% on a yearly basis.
  • Ensure that all newly developed Far East H-Trust buildings in Singapore are designed to qualify for the minimum Green Mark status by the Building and Construction Authority (“BCA”) of Singapore

Environmental Challenges

  • Increased energy consumption (5.4% increase) and higher carbon emissions (4.8% increase) due to higher occupancy following the pandemic.
  • Increased water consumption (28.9% increase) due to higher occupancy.
Mitigation Strategies
  • Implementing the 'Think Sustainable Hospitality' initiative to encourage guests to reduce their carbon footprint.
  • Reviewing existing aging cooling systems and undertaking feasibility studies on upgrading them.
  • Replacement of selected fan coil units and lift modernisation exercise with more efficient models.
  • Collaborating with the Operator to adopt a holistic approach to water management and identify water-saving opportunities.

Supply Chain Management

Responsible Procurement
  • Giving preference to suppliers, contractors and landscapers who are ISO 14001 and OHSAS 18001 certified
  • Requiring all suppliers, contractors and landscapers to comply with local government and other legal requirements
  • Reviewing, monitoring and appraising new and re-contracting suppliers, contractors and landscapers on their level of compliance with prevailing laws and regulations
  • Sourcing products recognised under the Singapore Green Label Scheme

Climate-Related Risks & Opportunities

Physical Risks
  • Increase in frequency and intensity of flooding
  • Increase in global temperature
Transition Risks
  • Regulatory risks
  • Changing market expectations for green technology
  • Consumer demand for green hospitality
  • Increased stakeholder concern or negative stakeholder feedback
Opportunities
  • Greater resource efficiency and cost savings
  • Access to new opportunities (e.g. Investment community and financing)
  • Cultivating a talent pool of skilled ESG professionals
  • Building a sustainable portfolio

Reporting Standards

Frameworks Used: GRI Standards 2021, TCFD, SGX-ST Listing Rules (711A and 711B), SGX Sustainability Reporting Guide, MAS Environmental Risk Management measures for Asset Managers

Third-party Assurance: Internal review conducted by an independent internal auditor

UN Sustainable Development Goals

  • Good Health and Well-being
  • Quality Education
  • Affordable and Clean Energy
  • Decent Work and Economic Growth
  • Reduced Inequalities
  • Responsible Consumption and Production
  • Climate Action
  • Peace, Justice and Strong Institutions

Far East H-Trust supports the UN SDGs and is committed to contributing towards the advancement of sustainable development in these areas.

Awards & Recognition

  • Ranked 2nd on the Singapore Governance and Transparency Index
  • SIAS Investors’ Choice Award: Shareholder Communication Excellence Award and Singapore Corporate Governance Award