Jones Lang LaSalle Incorporated

Climate Impact & Sustainability Data (2022)

Long-term Goals:

Singapore's target: Achieving net-zero emissions by 2050.
Global hotel industry target: 90% reduction in carbon emissions per room by 2050.

Medium-term Goals:

Singapore's target: Hotels to commence tracking of emissions by 2023 and reduce emissions by 2030.
City of Sydney's net-zero emission targets by 2035.

Short-term Goals:

Singapore's target: 60% of hotel room stock to attain internationally recognised hotel sustainability certification by 2025.

Asia Pacific lagging behind Europe and North America in ESG, particularly environmental aspects.
Lack of consistent and validated data and/or reports.
Lack of in-house sustainability expertise.
Difficulty in determining KPIs to measure success against goals.
Limited access to sustainability-linked loan facilities in Asia Pacific, especially on preferential terms.
Significant lack of KPIs and local benchmarks for carbon-neutral and net-zero plans.
Challenges in retrofitting existing buildings to make them net-zero.

Singapore's Hotel Sustainability Roadmap with targets for certification and emissions reduction.
City of Sydney's tougher energy-saving requirements for new developments.
Increased focus on sustainability-linked financing and green loans (e.g., IFC's green loan to AWC, OCBC's green loans, ART's sustainability-linked bond).
Growing interest in green-linked management agreements (e.g., Salter Brothers and Accor deal in Australia).
Changes to USALI to include Energy, Waste and Water (EWW) metrics starting 2024.

Development of energy-efficient products and services
Lower return requirements of sustainability-focused equity and debt for sustainably built assets.