Frasers Property announced its GRESB 2023 performance, which saw the Group’s business entities make significant strides in overall scores.

While Frasers Property Industrial was recognised as Regional Sector Leader, Oceania in the Industrial category for its Australian portfolio, Frasers Property Singapore was awarded Regional Sector Leader recognition in the Asia’s Diversified – Office/Retail (non-listed) category.

Seeking third party assessment from bodies such as GRESB, a globally recognised industry benchmark, is key to the Group’s overall approach in affirming its Environmental, Social and Governance (ESG) standards and performance, and encouraging greater accountability with its stakeholders.

The strong performance at the GRESB 2023 assessment was the natural outcome of multiple sustainability efforts at Frasers Property’s business entities, including greater data coverage, better sustainability reporting and disclosure practices, and stronger stakeholder engagement.

Ten of the 14 Frasers Property entities that took part in the Standing Investments category maintained their ratings while another four recorded rating improvements. Relevant entities also participated in the Development category with four entities recording higher ratings, and three maintaining ratings.

For the third consecutive year, all listed and non-listed business units of Frasers Property including its five real estate investment trusts (REITs) participated in GRESB for targeted sector benchmarking.

“Our marked improvement at GRESB this year reflects Frasers Property’s commitment to raising sustainability standards across our business. We continue to learn from our experiences and the wider industry as ESG standards evolve. When we align ESG priorities with business considerations, we can drive long-term value creation for our stakeholders,” Paolo Bevilacqua, group head of sustainability, Frasers Property Limited, said.

“Reviewing the benchmarks for this year, it’s evident that the industry’s dedication to ESG principles is stronger than ever, as showcased by the continued increase in participation and broader data coverage. We applaud leading multinational real estate organisations like Frasers Property for its relentless pursuit and efforts to improve its portfolio’s sustainability performance and strive towards greater ESG disclosures,” notes Sebastien Roussotte, CEO of GRESB.

Highlights from the Group’s GRESB 2023 assessment:

  • Frasers Property Industrial was recognised as Regional Sector Leader for its existing assets in Australia in the Standing Investments assessment.
  • Frasers Property Singapore saw the highest increase in scores among 5-star rated entities, improving from its 4-star rating in 2022. It was named Regional Sector Leader in the Asia’s Diversified – Office/Retail (non-listed) category in the Standing Investments assessment.
  • Frasers Property’s business entities and listed trusts retained highest 5-star ratings – ranked amongst the top 20 percent globally[1], while others recorded strong improvements[2] in both the Standing Investments and Development categories.

Image: https://www.frasersproperty.com/press-releases/2023/october/Frasers-Property-strong-overall-scores-GRESB-2023-assessment