Climate Change Data

PropNex Limited

Climate Impact & Sustainability Data (2020, 2021, 2022, 2023)

Reporting Period: 2020

Environmental Metrics

Total Carbon Emissions:112.31 tCO2e
Scope 2 Emissions:112.31 tCO2e
Total Energy Consumption:525,637.4 kWh
Carbon Intensity:0.2t/$m

ESG Focus Areas

  • Economic Performance
  • Compliance with Laws and Regulations
  • Environment
  • Employment
  • Training and Education
  • Technological and Digital Innovation
  • Consumer Empowerment
  • Local Communities

Environmental Achievements

  • No incident of non-compliance with environmental laws and regulations were identified within the reporting year.

Social Achievements

  • Donated $750,000 to The Community Chest.
  • Launched a new customer marketing programme -- PropNex Friends.
  • Recorded a total of 9,050 salespersons as at 8 February 2021.

Governance Achievements

  • No non-compliant incidents with relevant laws and regulations that resulted in significant fines or legal actions against the Group.
  • No letter of complaints against the Group from Personal Data Protection Commission (“PDPC”) concerning breaches of customer privacy and losses of customer data.
  • No incidents of corruption in 2020.

Climate Goals & Targets

Long-term Goals:
  • Vision: To become the leader in any market we serve and revolutionise this organisation to have the strength of a big company combined with the leanness and agility of a small firm.

Environmental Challenges

  • Global COVID pandemic impacting the market.
  • Restrictions brought about by the pandemic.
Mitigation Strategies
  • Leveraging strong branding and talent to win in the marketplace.
  • Accelerated adoption of technology due to prior investment in IT infrastructure and training.
  • Salesforce effectively used virtual platforms to engage clients.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • Sea level rise due to climate change

Reporting Standards

Frameworks Used: GRI Standards (2016), SGX-ST Listing Manual (Rules 711A and 711B)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:104.74 tCO2e
Scope 2 Emissions:104.74 tCO2e
Total Energy Consumption:490,251 kWh
Carbon Intensity:0.1t/$m

ESG Focus Areas

  • Economic Performance
  • Compliance with Laws and Regulations
  • Environment
  • Employment
  • Training and Education
  • Technological and Digital Innovation
  • Consumer Empowerment
  • Local Communities

Environmental Achievements

  • No incident of non-compliance with environmental laws and regulations were identified within the reporting year.

Social Achievements

  • Contributed over $2 million to charity, including $872,398 to Community Chest, $250,000 to Chen Su Lan Children’s Methodist Home, and a $1 million personal donation by the CEO to MENDAKI Singapore.
  • Established PropNex Real Estate Salespersons Chapter, the first real estate agency to have a formalised framework supported by Singapore Industrial & Services Employees’ Union (“SISEU”), to look into the welfare and promote professionalism of real estate salespersons.
  • Won the Community Chest Platinum Award in 2021.

Governance Achievements

  • No non-compliant incidents with relevant laws and regulations resulting in significant fines or legal actions.
  • No complaints from Personal Data Protection Commission concerning breaches of customer privacy and data losses.
  • No incidents of corruption.

Climate Goals & Targets

Long-term Goals:
  • Achieve 12,000 salespersons by 2023.

Environmental Challenges

  • COVID-19 pandemic impacting physical seminars and training.
  • Rampant use of energy from non-renewable sources causing climate change risks.
Mitigation Strategies
  • Leveraged online alternatives like e-learning and webinars to substitute physical classes and seminars.
  • Logged electrical consumption and identified it as Scope 2 emissions.
  • Exploring initiatives to reduce space and use energy-efficient appliances.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • Sea level rise impacting Singapore's real estate market.

Reporting Standards

Frameworks Used: GRI Standards (2016)

Awards & Recognition

  • Community Chest Platinum Award (2021)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:203.64 tCO2e
Scope 2 Emissions:203.64 tCO2e
Total Energy Consumption:501.94 MWh
Carbon Intensity:0.052 tCO2e/m2

ESG Focus Areas

  • Economic Performance
  • Compliance with Laws and Regulations
  • Environment
  • Employment
  • Training and Education
  • Technological and Digital Innovation
  • Consumer Empowerment
  • Local Communities

Environmental Achievements

  • Switched to LED lightings and cut down on printed handouts for trainings.
  • Made a Green Nation Pledge for 2023 to adopt energy-efficient appliances, avoid single-use disposables, track carbon footprint, and publish sustainability reports.

Social Achievements

  • Raised a cumulative amount of $5 Million for charity (including $1.34m to Community Chest in 2022), a year ahead of its initial target.
  • First real estate agency to have a formalised framework (PropNex Real Estate Salespersons’ Chapter) supported by Singapore Industrial & Services Employees’ Union (SISEU).
  • Organised the ‘PropNex Monopoly Championship 2022’ with prizes amounting to over $300,000.

Governance Achievements

  • Awarded the overall champion of Singapore Corporate Governance Award (Mid-Cap) at SIAS Investors’ Choice Awards 2022, for the second consecutive year.
  • Clean sweep at The Edge Singapore’s Centurion Club Awards 2022.

Climate Goals & Targets

Medium-term Goals:
  • Vision of having 15,000 salespersons by 2025.
Short-term Goals:
  • Continue to retain and attract talent that is diverse in terms of age and gender, and inclusive.
  • Continue to provide benefits, recognition, and incentives to attract and retain employees and salespersons.

Environmental Challenges

  • Limited new project launches and a decline in home price growth in the fourth quarter of 2022.
  • Ukraine war, rising borrowing interest rates and cooling measures introduced in September 2022.
Mitigation Strategies
  • Remained resilient throughout challenging times and emerged stronger.
  • Established a strong foothold in Singapore’s property market, being the first listed real estate agency to cross the 12,000 salespersons mark in 2022.
  • Improved in both the Covid-19 situation and the overall economy.

Supply Chain Management

Responsible Procurement
  • Onboarded vendors that are aligned with our green movement.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards

Third-party Assurance: Internal review

Awards & Recognition

  • Singapore Corporate Governance Award (Mid-Cap) at SIAS Investors’ Choice Awards 2022
  • Overall champion of Singapore Corporate Governance Award (Mid-Cap) at SIAS Investors’ Choice Awards 2022
  • The Edge Singapore’s Centurion Club Awards 2022 (Overall Sector Winner, Overall Centurion, Best Performing Stock, Fastest Growing Company, Most Profitable Company)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:198.17 tCO2e
Scope 2 Emissions:198.17 tCO2e
Total Energy Consumption:488.47 MWh

ESG Focus Areas

  • Environment
  • Employment
  • Training and Education
  • Technological and Digital Innovation
  • Consumer Empowerment
  • Local Communities
  • Compliance with Laws and Regulations
  • Economic Performance

Environmental Achievements

  • Successfully implemented a zero-tolerance policy on single-use plastic water bottles, introduced digital name cards for staff and salespersons and full e-invoicing for all customers.
  • Planted 200 trees with National Parks.
  • Reduced energy use intensity from 0.1289 MWh/m2 in FY2022 to 0.1255 MWh/m2 in FY2023.
  • Reduced Scope 2 emission intensity from 0.052 tCO2e/m2 in FY2022 to 0.051 tCO2e/m2 in FY2023.

Social Achievements

  • Established PropNex Real Estate Salespersons Chapter in collaboration with Singapore Industrial and Services Employees’ Union.
  • Provided various benefits to employees and salespersons, including festive advance, birthday vouchers, discounted medical consultation, and insurance coverage.
  • Increased average training hours per employee from 8.2 hours in FY2022 to 17.1 hours in FY2023.
  • Recruited 331 new and experienced salespersons in FY2023.

Governance Achievements

  • Implemented a robust governance structure with a Sustainability Steering Committee to oversee ESG performance.
  • Maintained zero non-compliant incidents with relevant laws and regulations.
  • Conducted 16 compliance trainings and legal clinics for salespersons.

Climate Goals & Targets

Long-term Goals:
  • Engage in carbon market participation
Medium-term Goals:
  • Reduce energy use intensity by 15%
  • Reduce Scope 2 emission intensity by 10%
Short-term Goals:
  • Reduce energy use intensity by 10%
  • Reduce Scope 2 emission intensity by 5%
  • Achieve 50% of office spaces with energy-efficient fixtures

Environmental Challenges

  • Risk of regulatory changes towards enhanced emission-reporting obligations.
  • Fluctuation in energy costs and potential carbon tax.
  • Exposure to risk of fines and penalties for failure to meet climate-related practices and disclosures.
  • Risk of extreme weather events impacting properties.
  • Risk of sea level rise impacting properties.
Mitigation Strategies
  • Constantly monitoring regulatory requirements and developing action plans for compliance.
  • Adopting energy-efficient appliances to manage energy costs.
  • Active involvement of the Board and senior management in overseeing climate-related risks.
  • Regular assessment of insurance adequacy.
  • Monitoring water and electricity bills and practicing sustainability habits.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events (flash floods, intense rainfall, heatwaves)
  • Sea level rise, changes in temperature and precipitation
Transition Risks
  • Regulatory changes towards enhanced emission-reporting obligations
  • Fluctuation in energy costs and potential carbon tax
  • Exposure to risk of fines and penalties for failure to meet climate-related practices and disclosures
Opportunities
  • Use of recycling and digitalisation

Reporting Standards

Frameworks Used: GRI Standards (2021), TCFD

Awards & Recognition

  • Community Chest Platinum Award (2023)