HIAP HOE LIMITED
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:496 tCO2e
Scope 1 Emissions:496 tCO2e
Scope 2 Emissions:8,363 tCO2e
Total Energy Consumption:15,786 MWh (excluding SuperBowl)
Water Consumption:100,700 m3
Waste Generated:663 tons (non-hazardous)
Carbon Intensity:0.0044 tCO2e/Revenue (Scope 1), 0.075 tCO2e/Revenue (Scope 2)
ESG Focus Areas
- Sustainable Economic Growth
- Energy and Carbon Footprint
- Water Conservation
- Resource Efficiency and Waste Management
- Fair Employment Practices
- Employee Training and Development
- Occupational Health and Safety
- Customer Health and Safety
- Customer Privacy
- Business Ethics and Anti-corruption
Environmental Achievements
- 6.2% reduction in total electricity usage in FY 2023 (excluding SuperBowl)
- 2.4% decrease in total Scope 1 GHG emissions in FY 2023
- 5.1% decrease in total Scope 2 GHG emissions in FY 2023
- 16.3% reduction in total water consumption in FY 2023
- 4.7% reduction in total weight of non-hazardous waste directed to disposal in FY 2023
- 33.1% increase in total weight of non-hazardous waste diverted from disposal in FY 2023 (Aloft Singapore Novena, Corporate Office and Zhongshan Mall)
Social Achievements
- Zero reported incidents of discrimination in FY 2023
- 100% of employees received a regular performance and career development review in FY 2023
- Zero fatalities due to work-related ill health or recordable work-related ill health for all employees and non-employees in FY 2023
- Implemented various employee skills enhancement programmes at Aloft Singapore Novena, including New Brand and Culture Training and technical systems training
Governance Achievements
- Zero confirmed incidents of bribery or corruption in FY 2023
- Zero complaints concerning breaches of customer privacy in FY 2023
- Adoption of a board diversity policy in 2023
Climate Goals & Targets
Long-term Goals:
- Net-zero emissions target (implementation roadmap outlined)
Environmental Challenges
- Poor economic performance impacting stakeholders
- Exposure to physical and transition risks (extreme weather, stringent regulations)
- Changing market preference for green buildings
- Poor water and waste management
- Safety lapses by contractors
- Employee disengagement and dissatisfaction
- High turnover rates
- Low productivity
- Employees lacking required skills
- Loss of revenue and customers due to poor product and service quality
- Bribery and corruption
- Customer data breaches
Mitigation Strategies
- Maintaining service quality in hospitality
- Proper building maintenance
- Integrating climate risk into risk management
- Developing climate risk assessment and mitigation plans
- Setting energy & emission reduction targets
- Adopting smart building technologies
- Recruiting and retaining talent
- Building an environment that supports career development
- Flexible working arrangements
- Maintaining SG Clean certification
- Robust Code of Conduct, Business Ethics and Anti-corruption policies
- Established customer personal data protection policies and procedures
- Strong data management and controls
Supply Chain Management
Responsible Procurement
- Screening through suppliers to engage responsible suppliers and consultants
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather exposure to assets
- Increased frequency of intense precipitation events
- Sea level rise
Transition Risks
- Increase in carbon pricing of GHG emission
- Mandates on and regulation of existing products and services
- Transition to lower emissions technology
Opportunities
- Use of new technologies
Reporting Standards
Frameworks Used: GRI Standards 2021, TCFD (mandatory from FY 2024)