Frasers Property (Thailand) Public Company Limited or “FPT” has received validation from the Science Based Targets initiative (SBTi) for its near-term greenhouse gas reduction targets across all three scopes. This makes it the first real estate company in Thailand to receive validation from SBTi for its near-term targets, affirming its strong commitment to sustainability.

FPT aims to reduce direct greenhouse gas emissions (Scope 1), indirect energy-related emissions (Scope 2), and indirect value chain-related emissions (Scope 3) by 42% by 2030, compared to the base year 2021, consistent with international efforts to limit global temperature rise to 1.5 degrees above pre-industrial levels. As a member of the Frasers Property Group, the company also aims to achieve net-zero carbon across Scopes 1, 2 and 3 by 2050.

Mr. Thanapol Sirithanachai, Country Chief Executive Officer of Frasers Property (Thailand) Public Company Limited said, “Real estate forms such an integral part of our daily lives that it is important for us to step up our environmental leadership and address the impact of climate change. We hope that FPT’s milestone as the first SBTi-validated company in Thailand and our comprehensive plans to achieve our goals will help inspire and set an example for others to follow.”

To achieve its greenhouse gas reduction targets, Frasers Property Thailand has enhanced its sustainability initiatives across various dimensions, including:

– Increasing renewable energy usage across its residential, industrial, and commercial businesses including through solar photovoltaics installation, with a target to install 41 MW of solar capacity by 2030.

– Designing and developing all new rental property projects, including factories, warehouses and office buildings in compliance with green building standards such as LEED, TREES, and EDGE. Existing properties will be upgraded to meet these green standards. FPT aims for 85% of its managed assets to be certified or in the process of obtaining green building certification by 2030.

– Sourcing energy-efficient technologies and innovations, such as Energy Management Systems (EMS) for optimal energy consumption control and monitoring, and motion sensors for movement detection to reduce electricity usage. The company has also standardised the use of energy-efficient LED lighting and water-saving fixtures across all of its projects.

– Increasing the proportion of environmentally-friendly building materials in the construction process, such as concrete containing recycled substitute materials, steel with recycled content, and low-VOC paints.

– Promoting waste segregation at both headquarters and project sites to reduce landfill waste, alongside activities that raise environmental and social awareness among employees.

SBTi was established through collaboration between the Carbon Disclosure Project, United Nations Global Compact, World Resources Institute, and Worldwide Fund for Nature, aiming to support businesses globally in addressing climate change through science-based greenhouse gas emission reduction targets and implementation.