The real estate sector can help improve society and the environment by adopting environmental, social and governance (ESG) practices, says Panote Sirivadhanabhakdi, Group CEO of Frasers Property Limited.
Mr Panote outlined his views in a presentation titled “Sustainable Cities: Leading with Urgency to Net Zero” at the Bangkok Post Conference 2024 on Thursday.
The real estate sector, he said, has played a large role in global warming.
“We manage US$35 billion worth of assets across the cities where we work (in Thailand and abroad),” he said of Frasers. “We also have evolved ESG in our business by creating green space to reduce carbon emissions and also adopted mixed-use development to make sustainable real estate.”
Examples of mixed-use developments that embody sustainable principles include The Yards and Ed.Square Town Centre in Sydney, Australia; and Punggol Watertown and Northpoint City in Singapore.
In Thailand, Mr Panote said The Parq in Bangkok is one of the most sustainable office buildings in the capital with first-world standard certification.
Currently, Frasers is working on One Bangkok, a real estate mega-project located opposite Lumpini Park. It will be completed in October.
Mr Panote said One Bangkok is a mixed-use development that aims to achieve a smart and sustainable “heart-centric” metropolis where residents can enjoy an unparalleled quality of life.
He said that ESG is the foundation for the group’s business model and is now at the core of everything it has been doing. Achieving carbon neutrality by 2050 is also one of the company’s goals.
Mr Panote said as part of Frasers Property's commitment to ESG transparency and accountability, the company published its first ESG Databook earlier this year to enhance the accessibility of key ESG disclosures for stakeholders.
Accompanied by a Basis of Preparation document, the Databook outlines the foundation of carbon accounting methodology, including its scope and assumptions. The information within the Databook has been externally assured. This ESG Databook serves as a means to progressively quantify our decarbonisation efforts.
He also said that the group also promotes gender diversity and equality.
It likewise continues to achieve transparency targets so it becomes the company of choice for employees and customers.
He said ESG is more than a "checklist or requirement of certifications".
"It's about sustainability", Mr Panote added.
We would like to extend our gratitude to our sponsors for their generous support of the Bangkok Post ESG Conference 2024.
