Frasers Property Vietnam commits to net-zero carbon future on Earth Day

April 22, 2022 | 10:51
On April 22, Frasers Property Vietnam announced it is on track locally to become a sustainable business by meeting its commitment to become a net-zero carbon corporation by 2050.
Frasers Property Vietnam commits to net-zero carbon future on Earth Day
Frasers Property Vietnam's team and Hoa Phu Ward’s government representatives participating in a tree planting activity organised at Binh Duong Industrial Park where hundreds of indigenous trees were planted

Edwin Tan, deputy CEO of Frasers Property Vietnam, said that recognising the importance of combating climate change with nearly 40 per cent of global carbon emissions coming from the real estate sector, the company is making a stand to be a responsible, purpose-driven organisation.

“We place sustainability at the core of all that we do and strive to champion sustainable innovation in real estate to produce returns and advance the low-carbon transition. In doing so, we want to inspire and raise sustainability ideals benefitting the development of the real estate sector for a greener, more sustainable Vietnam,” Tan said.

As one of the leading real estate developers, Frasers Property Vietnam is committed to responsible growth. On the occasion of Earth Day 2022 on April 22, Frasers Property Vietnam committed to making significant progress towards its five sustainability goals: to be a net-zero carbon corporation by 2050, to be climate-resilient and establish adaptation and mitigation plans by 2024, to green-certify 80 per cent of owned and asset-managed properties by 2024, to finance the majority of sustainable asset portfolios with green and sustainable financing by 2024, and to train all employees on sustainability by 2021.

In line with these five goals, Frasers Property Vietnam highlighted that all its employees have completed specialised training. Its local business is now developing a roadmap for net-zero carbon following science-based target initiatives for carbon reduction with an interim 2030 target.

As it pursues further business opportunities locally in commercial, hospitality, industrial and logistics, and residential, all new and rebuild developments will be green-certified according to global and industry standards.

Leading developments for the environment

Reducing carbon emissions is a business imperative, and Frasers Property strives to champion sustainability as one of the pioneers in Vietnam’s real estate space with its commitment to net-zero carbon by 2050.

On Earth Day, Frasers Property Vietnam's team volunteered in a tree planting activity organised at Binh Duong Industrial Park with hundreds of indigenous trees planted and more planned in the coming months.

Moreover, Binh Duong Industrial Park is on track to be a green industrial park in Vietnam to achieve LEED certification.

Key features for its certification include the infrastructure installation of an internal wastewater treatment system, green spaces, and LED low-power-density lighting for the whole project that is expected to reduce around 40 tonnes of CO2 emissions and substitute roughly 16 tonnes of coal burned every year.

At its commercial properties, Melinh Point is a showcase of Frasers Property Vietnam's contribution to the fight against climate change as it has undergone a major asset enhancement initiative, becoming the first existing non-residential building in Vietnam to achieve the prestigious Green Mark Platinum Certification awarded by Singapore’s Building and Construction Authority.

Frasers Property Vietnam commits to net-zero carbon future on Earth Day
Frasers Property Vietnam is now getting ready to certify Worc@Q2 as a green building with a key focus on energy-efficient solutions

Fostering consciousness to workforce and value chain of their impact

Making a sustainability commitment to net-zero carbon by 2050 cannot be achieved without the concerted effort of the workforce, suppliers, and all other stakeholders. Thus, all of Frasers Property Vietnam’s employees have received specialised sustainability training.

In alignment with the group’s Responsible Sourcing Policy, Frasers Property Vietnam outlines its approach moving towards responsible sourcing, with all suppliers using publicly-vetted green building materials.

To spread greater awareness and foster collective action on climate issues, Frasers Property Vietnam engages tenants on a regular basis and empowers them to act by taking green leases.

Starting two years ago, most tenants in its commercial developments such as Melinh Point are currently on green leases, and the same approach will follow for Worc@Q2 as well as its first industrial project at Binh Duong Industrial Park.

Green leases are lease agreements that aim to meet high standards in energy consumption and efficiency to deliver the best working environment and experiences. Once confirmed, all parties cooperate with each other to promote, improve, and identify appropriate strategies for the improvement of the environmental performance of the premises and the building.

Frasers Property is a multi-national developer-owner-operator of real estate products and services across the property value chain. Listed on the Main Board of the Singapore Exchange Securities Trading Limited and headquartered in Singapore, the group has total assets of approximately $32.2 billion, as of September 30.

In Vietnam, its signature developments include Melinh Point, a Grade-A boutique office building in Ho Chi Minh City's District 1; Q2 Thao Dien, a mixed-use luxury development in Thu Duc City; and Binh Duong Industrial Park, a modern, dynamic, and sustainable industrial park strategically placed in Binh Duong province. Fraser Hospitality also maintains a local presence with Fraser Suites Hanoi, Fraser Residence Hanoi, and Capri by Fraser in Ho Chi Minh City.

By Bich Ngoc

Frasers Property Vietnam

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional