Frasers Property Vietnam marks 2050 in zero-carbon calendar

Frasers Property aims to be net-zero carbon by 2050, with clear goals and science-based roadmaps implemented by the group across all global projects from commercial, retail, industrial, hospitality, and residential ventures.

Adhering to the group’s sustainability goals, Frasers Property Vietnam is making significant strides in this area, including becoming a net-zero carbon corporation by 2050, and to be climate-resilient and establish adaptation and mitigation plans by 2024. Around 80 per cent of company-owned and asset-managed properties will be green certified by 2024; financing the majority of the sustainable asset portfolio with green and sustainable financing at the same time; and making efforts to train all its employees on sustainability.

Orientation towards sustainable development is clearly outlined to help the group bring about positive impacts. Messages such as acting progressively, consuming responsibly, and focusing on people are all strategies that Frasers Property and its members are utilising in order to create a quality living environment in Vietnam.

Frasers Property recognises that new technologies and solutions will be crucial to accelerating sustainability goals. For tenants, especially multinational corporations, the choice of green buildings is becoming increasingly important in achieving their sustainability goals. Therefore, Melinh Point, a Grade A office building in the heart of Ho Chi Minh City, has refreshed itself with a major asset enhancement initiative with new green features to bring the best experiences to tenants and visitors and contribute to a strategy to combat climate change.

This successful upgrade has helped Melinh Point achieve a Platinum title as the first operational green office building in Vietnam recognised by Singapore’s Building and Construction Authority. Worc@Q2, another prestigious new office building from Frasers Property, is now on track to receive green building certification with a primary focus on energy-saving solutions.

Sustainability moves continue to be implemented by Frasers Property Vietnam at its industrial real estate development project with Binh Duong Industrial Park (BDIP), the group’s first IP in Vietnam. This project is on a net-zero roadmap and well on the way to becoming a LEED Gold-certified green IP.

In addition, the installation of solar lights expects to reduce 40 tonnes of CO2 and replace 16 tonnes of coal-fired per year, greening 15 per cent of the campus area. A solar power system, using insulating paints, building wastewater control systems, and encouraging employees to bike to work are all being implemented to contribute to combating global climate change.

In 2021, Frasers Property Vietnam included a VR application called Holobuilder in the process of handing over houses to residents of the Q2 Thao Dien project. This initiative not only resonated with the investor’s dedication but also contributed to reducing risk to people during the pandemic and protecting the environment by limiting travel.

Also that year, to further its strengthen environmental, social, and governance strategy in its value chain, Frasers Property issued a policy to ensure responsible supply sourcing, an action that energises the group in its path towards the goals of net-zero.

Meanwhile, most of the tenants in commercial projects such as Melinh Point are implementing green lease agreements with the building’s management. This is applied similarly to the Worc@Q2 and BDIP projects in order to raise tenant awareness of the issues on climate change.

In 2022, Frasers Property received recognition for continued sustainable innovation as well as efforts in environmental, social, and governance criteria in the Global Sustainable Real Estate Benchmark rankings.

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.

Industrial and logistic real estate are becoming increasingly more attractive as Vietnam benefits from the shifts in global supply chains, the strong effects of many free trade agreements, and its liberalised trade base.

Hua Tiong Lim, CEO of Frasers Property Vietnam, concurrently CEO of Development at Frasers Property (Holdings) Thailand, took part in an Urban Land Institute Singapore discussion on developer perspectives on transforming cities through decarbonisation, decentralisation, digitalisation, and disclosure, which was part of the 2022 World Cities Summit held in Singapore last week. Lim shares some of his insights on what goes into creating thriving cities through these 4Ds.