Climate Change Data

Environmental Metrics

ESG Focus Areas

• Governance
• Environmental Responsibility
• People & Culture
• Corporate Social Responsibility

Environmental Achievements

• Reduced GHG emissions intensity per square meter of GFA by 14.8% between 2021 and 2022.
• Reduced building water intensity by GFA occupied from 2.5 m3/m2 in 2021 to 2.1 m3/m2 in 2022.
• Achieved LEED Platinum certification for Bund Center.
• Reduced total energy consumption from 25,942 mWh in 2021 to 22,104 mWh in 2022.
• Reduced total GHG emissions by 14.8% between 2021 and 2022.
• Reduced the amount of non-hazardous waste generated by 38.2% from 555 tonnes in 2021 to 343 tonnes in 2022.
• 12.8% of waste generated in 2022 was recycled.

Social Achievements

• Recorded a total voluntary turnover of 68 with an overall turnover rate of 17.5% in 2022 (lower than the national average).
• 100% return-to-work rate for both female and male employees after parental leave.
• Each employee achieved an average of 56 hours of training in 2022.
• Implemented various initiatives to promote a healthy lifestyle for employees (discounted gym memberships, employee running club, after-work sports activities, yoga class).

Governance Achievements

• Established policies to ensure ethical business practices and a zero-tolerance policy towards fraud and corruption.
• Implemented a whistle-blowing policy.
• All new employees attend mandatory awareness training on company policies.
• No legal cases regarding corruption were brought against the Group in 2022.
• Implemented “Risk Management: Security is Everyone’s Responsibility” training for employees.

Climate Goals & Targets

Environmental Challenges

• Lower operating performance, lower total profit (S$2.8 million), and lower revenue (S$67.6 million) in FY2022 due to the COVID-19 pandemic and stringent lockdown measures in China.
• Significant catering events and the Shanghai International Film Festival were cancelled or postponed due to COVID-19.
• 13 injuries involving members of the public in 2022, mostly due to human error.

Mitigation Strategies

• Maintained high hygiene standards and implemented updated guidelines to ensure industry-leading cleanliness.
• Provided new, updated guidelines to ensure that we stay industry-leading regarding cleanliness and hygiene.
• Conducted detailed investigations after each incident and implemented corrective actions to prevent recurrence.
• Implemented a thorough process of cleaning and disinfection to safeguard hotels and guest experiences.

Supply Chain Management

Responsible Procurement

• Follow Marriott International's Global Procurement Supplier Conduct Guidelines.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, SGX-ST Sustainability Reporting Guidelines, TCFD recommendations

Certifications: LEED Platinum

Awards & Recognition

• TripAdvisor’s 2022 Traveler’s Choice Awards
• FIABCI Prix d’Excellence Award
• Top Ten Best Office Building in PRC
• Star Diamond Award from The American Academy of Hospitality Sciences
• Top 500 hotels in the world by Travel + Leisure magazine

Environmental Metrics

ESG Focus Areas

• Governance
• Environmental Responsibility
• People & Culture
• Corporate Social Responsibility

Environmental Achievements

• Completed extensive refurbishment of the Office Tower public areas, including a refreshed lobby design and addition of new entrances and automated systems.
• Commenced landscape project to increase green space and provide external seating and social spaces.
• Achieved WELL Platinum certification for the Bund Center Office Tower.
• Achieved LEED Platinum certification for the Bund Center.

Social Achievements

• Achieved 94% on Associate Engagement Leadership Survey (17 points above 2022).
• Recorded a record low annual turnover of 17.6%.
• Each employee achieved an average of 63 hours of training.
• Implemented various initiatives to promote a healthy lifestyle for employees (discounted gym memberships, running club, after-work sports activities).

Governance Achievements

• Established policies to ensure ethical business practices and a zero-tolerance policy towards fraud and corruption.
• Implemented a whistle-blowing policy.
• All new employees attend mandatory awareness training on company policies.
• All Board members completed mandated sustainability training.

Climate Goals & Targets

Environmental Challenges

• 17.5% increase in energy consumption and carbon footprint due to increased business activities and higher domestic demand.
• 13.6% increase in water consumption due to higher hotel operations and domestic demand.
• 75.5% increase in non-hazardous waste generated due to higher occupancy rates and higher volume of recycled items.

Mitigation Strategies

• Switching to energy-saving LED lighting in common areas and guest rooms.
• Electrical switchboards replacement project.
• Gradual implementation of control timing function for air-conditioning systems.
• Post-project review on IT Cooling Water Project resulting in substantial energy savings.
• Installation of water tap fittings with sensors to reduce overflowing losses.
• Water recirculation for cooling towers.
• Rainwater collection and recycling.
• Planning to implement a water usage monitoring regiment.
• Upgrading water-saving devices.
• Waste segregation and proper disposal of hazardous waste by licensed contractors.
• Initiatives to reduce single-use plastics (e.g., replacing plastic-wrapped candies with paper-wrapped candies).

Supply Chain Management

Responsible Procurement

• Follow Marriott International's Global Procurement Supplier Conduct Guidelines.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, UN SDGs

Awards & Recognition

• FIABCI Prix d’Excellence Award
• Top Ten Best Office Building in PRC
• Star Diamond Award from The American Academy of Hospitality Sciences
• Top 500 hotels in the world by Travel + Leisure magazine
• TripAdvisor’s 2023 Travelers’ Choice Awards (top 10% of hotels worldwide)
• Various other awards mentioned in the CSR section