Climate Change Data

Environmental Metrics

ESG Focus Areas

• Economic
• Environmental
• Social
• Governance

Environmental Achievements

• Received a green loan of $144 million (4.5 billion Baht) from the International Finance Corporation (IFC), the first real estate group in Thailand to receive such a loan.
• Reduced electricity consumption by 11,370,826 kWh and reduced GHG emissions by 8,039.63 ton-CO2eq through Energy Saving Initiatives (ESIs).
• Reduced food waste by 320 grams per cover (53% reduction) at Bangkok Marriott Marquis Queen’s Park.
• Banyan Tree Samui successfully hatched 269 green turtle eggs.
• Empire Tower awarded “MEA Energy Saving Building”.

Social Achievements

• Launched Asiatique Heritage Lounge as a community center.
• Launched the charity fundraising program “Serve to Safe,” donating THB 5,062,600 to 22 hospitals.
• Employee engagement survey showed 71% engagement, higher than the target of 70% and the national average of 67%.
• The GALLERY social enterprise continued to support local artists and communities.

Governance Achievements

• Established a Sustainability Committee and Anti-Corruption Committee.
• Independent board members comprised more than half of the total number of committees.
• One whistleblower case was reported and resolved.

Climate Goals & Targets

Environmental Challenges

• Impact from the COVID-19 pandemic, affecting hospitality and retail businesses.
• Changes in consumer behavior due to the pandemic (e.g., remote work, online shopping).
• Climate risks.
• Data privacy concerns.

Mitigation Strategies

• Implemented safety measures and protocols (SHA certification) in response to COVID-19.
• Launched pilot programs to improve user experience (e.g., using robots for temperature scanning).
• Developed the AWC Connext application to enhance customer service and integrate services.
• Launched AWC Infinite Lifestyle program to offer flexible work-life and leisure experiences.
• Implemented Energy Saving Initiatives (ESIs) to reduce energy consumption and GHG emissions.
• Invested in data infrastructure and implemented data security measures to comply with data privacy regulations.
• Established a supplier code of conduct to promote sustainability throughout the supply chain.

Supply Chain Management

Supplier Audits: Annual vendor evaluation; 60 suppliers to undergo evaluation in 2021.

Responsible Procurement

• Supplier code of conduct (to be announced in 2021), focusing on corporate governance, labor practices, occupational health & safety, and environmental management.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather

Transition Risks

• Regulatory changes

Opportunities

• Green building projects
• Renewable energy investments
• Improved operational efficiency

Reporting Standards

Frameworks Used: GRI Standards: Core Option

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2015, SHA (Safety and Health Administration)

Third-party Assurance: Lloyd’s Register Quality Assurance Ltd.

UN Sustainable Development Goals

• Goal 8: Decent Work and Economic Growth
• Goal 11: Sustainable Cities and Communities
• Goal 12: Responsible Consumption and Production
• Goal 13: Climate Action
• Goal 16: Peace, Justice and Strong Institutions

AWC's initiatives contribute to these goals through job creation, community development, resource efficiency, climate action, and good governance.

Sustainable Products & Innovation

• reConcept program

Awards & Recognition

• MEA Energy Saving Building (Empire Tower)

Environmental Metrics

ESG Focus Areas

• Climate Change
• Circular Economy
• Water Management
• Biodiversity
• Social & Community Integration
• Occupational Health and Safety
• Human Resource Management
• Human Rights
• Corporate Governance & Code of Conduct
• Risk Management
• Customer Relationship Management
• Process and Digital Transformation
• Data Privacy Protection
• Supply Chain Management

Environmental Achievements

• Reduced GHG emissions by 5,120 tons CO2eq through renewable energy programs and energy-saving initiatives, resulting in a cost saving of over THB 42 million (approx. 5% utility cost reduction).
• Reduced 3.6 million kilograms of unconsumed food waste to landfill through collaboration with SOS Thailand, equivalent to 7,254 tons of CO2 offset.
• The Athenee Hotel received the “100 percent All-Star” award from The PLEDGE on Food Waste.
• reConcept recycling model reduced 347 tons of landfill waste.

Social Achievements

• Collaborated with government agencies and over 100 partners in the "AWC Collaboration to Support Local Communities" project, distributing over 13,500 goody bags worth over THB 11 million to local communities and construction worker camps.
• Established a "Community Isolation" center with 200 beds and donated 813 bedding sets to support COVID-19 patients.
• Developed "The GALLERY," a social enterprise store promoting community products with 12 branches.
• Maintained a no-layoffs policy and paid wages and benefits to over 2,000 employees during the COVID-19 pandemic.
• Implemented flexible work arrangements, allowing employees to work from anywhere.

Governance Achievements

• Included in the S&P Global Sustainability Yearbook 2022.
• Upgraded MSCI ESG Assessment from A to AA.
• Selected in the Thailand Sustainability Investment (THSI) 2021 list.
• Achieved an "Excellent" Corporate Governance score from the Thai Institute of Directors Association (IOD).
• Received membership certificate from the Thai Private Sector Collective Action Against Corruption (CAC).

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting operations and global economic growth.
• Change in consumer behavior (flexible work, online shopping).
• Climate risks.
• Strategic competitiveness.
• Economic downturn.

Mitigation Strategies

• Maintained financial discipline and implemented AWC Transformation for operational excellence.
• Adapted to changed consumer behavior through smart building technologies, online platforms (PhenixBox), and the AWC Infinite Lifestyle program.
• Implemented projects to improve operational efficiency and reduce environmental impact (solar rooftops, EV charging stations).
• Hotel management agreements with international operators, diverse portfolio of assets, market research, and new target groups (Workation).
• Secured credit lines, implemented cost control, and reviewed investment strategies.

Supply Chain Management

Supplier Audits: 100% of critical Tier-1 suppliers audited annually; 25% of non-critical suppliers audited quarterly.

Responsible Procurement

• Transparency and accountability principles
• Sustainability criteria in pre-tendering (OHS requirements)
• Sourcing of eco-friendly materials
• Support for local suppliers (98.70% of spending)

Climate-Related Risks & Opportunities

Opportunities

• Energy efficiency improvements
• Renewable energy adoption

Reporting Standards

Frameworks Used: GRI Standards: Core Option

Certifications: ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, ISO 20121:2012, ISO 22000:2018

UN Sustainable Development Goals

• Goal 8: Decent Work and Economic Growth
• Goal 5: Gender Equality
• Goal 11: Sustainable Cities and Communities
• Goal 12: Responsible Consumption and Production
• Goal 13: Climate Action
• Goal 16: Peace, Justice and Strong Institutions

AWC's initiatives contribute to these goals through various programs and projects detailed in the report.

Sustainable Products & Innovation

• reConcept products

Awards & Recognition

• S&P Global Sustainability Yearbook 2022
• MSCI ESG Rating AA
• THSI 2021
• IOD Excellent Corporate Governance score
• CAC membership

Environmental Metrics

ESG Focus Areas

• Climate Change

Environmental Achievements

• Reduced GHG emission 2,247.8 tCO2e in 2023 through low-carbon services, generating 21.24% of total revenue.
• Installed 6 solar rooftops at operating assets, with projected reduction in energy consumption of 5,027,100 kWh/year (equivalent to 2,513 Ton CO2e/year).
• Implemented HVACO initiatives at several properties, forecasting energy savings of 7,132,705 kWh/year (equivalent to 3,565.64 Ton CO2e).

Social Achievements

• Not disclosed

Governance Achievements

• Established a Sustainability Committee (SC) under the Corporate Governance Committee (CG) to oversee sustainability management, set targets, and monitor performance.
• Incorporated energy consumption reduction targets into corporate KPIs, tying them to executive and employee compensation.

Climate Goals & Targets

Environmental Challenges

• Flooding and extreme heat impacting properties and labor productivity.
• Increased operational costs due to higher energy consumption, physical damage from extreme weather, water scarcity, and supply chain disruptions.
• Changing consumer preferences towards sustainability and stricter environmental regulations.
• Potential impacts of Climate Change Act (carbon tax, emission trading scheme).

Mitigation Strategies

• Flood risk assessments, infrastructure upgrades, flood insurance, emergency plans, flood-proofing measures, and long-term infrastructure improvements.
• Cooling systems, heat stress protocols, adjusted work hours, employee education.
• Energy Efficiency Plan (EEP) with Energy Saving Initiatives (ESIs), investment in renewable energy (solar panels), strategic plan for integrating renewable energy.
• Staying informed about and complying with the Climate Change Act, developing internal policies, scenario analysis for policy impacts, adapting business operations.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Green purchasing program

Climate-Related Risks & Opportunities

Physical Risks

• Flooding
• Extreme heat

Transition Risks

• Climate Change Act
• Energy Efficiency and Renewable Energy Transition

Opportunities

• Cost savings from energy efficiency improvements and renewable energy adoption.

Reporting Standards

Frameworks Used: TCFD

Certifications: LEED, EDGE

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 13 (Climate Action)

AWC's climate strategy aligns with SDG 13 through GHG emission reduction targets and carbon neutrality goal.

Sustainable Products & Innovation

• Low-carbon products and services

Awards & Recognition

• Not disclosed