Driving Sustainable Real Estate: How Frasers and OCBC Lead the Way
Highlights:
- Frasers Property commits to net-zero carbon by 2050
- Collaboration with OCBC in sustainable finance
- Focus on decarbonizing the real estate sector
- OCBC supports Frasers Property’s sustainability goals
- Partnership extends beyond financing to sustainability advice and awareness initiatives
This is summary of the article: https://www.ocbc.com/business-banking/articles/ocbc-and-frasers-property-collaborate-for-a-sustainable-future.page by OCBC Business Banking
Frasers Property, a multinational real estate company, has set a groundbreaking goal to achieve net-zero carbon emissions by 2050, making it the first SGX-listed real estate company to make such a commitment. Recognizing the significance of decarbonizing the real estate sector, Frasers Property has embedded sustainability principles throughout its policies, investments, and partnerships, with the aim of improving competitiveness in the industry.
One of the key partnerships driving Frasers Property’s sustainability agenda is with OCBC, a leading bank in Singapore. Their collaboration began in 2018 with the support of a green transaction, raising S$1.2 billion for the development of Frasers Tower, a sustainable office building in Singapore’s Central Business District. Since then, OCBC and Frasers Property have engaged in various sustainable finance transactions, including green loans and bonds, making significant strides in the market and positioning Frasers Property as one of the largest issuers of sustainable financing debt instruments among SGX-listed companies.
Beyond financing, OCBC serves as a sustainability coordinator, providing expertise and guidance on sustainable lending and financing structures. OCBC’s commitment to sustainability is further demonstrated by its participation in the United Nations-convened Net Zero Banking Alliance, where it commits to reducing GHG emissions and aligning lending activities with pathways to net-zero by 2050. This partnership between OCBC and Frasers Property extends beyond financial support, as OCBC also offers advice on sustainability matters and leverages its network of sustainability partners to support Frasers Property’s sustainability strategy.
Together, Frasers Property and OCBC are actively raising awareness of sustainable practices. They have organized sustainability initiatives, including road shows that promote green transport options and highlight the accessibility of EV charging at Frasers Property’s retail malls. By engaging in these initiatives, they align with Frasers Property’s commitment to net-zero carbon and support the Singapore Green Plan 2030.
The collaboration between financial institutions like OCBC and players in the real estate sector, exemplified by Frasers Property, paves the way for sustainable development. By combining their efforts, they drive meaningful and lasting impact in the sector, contributing to the transition towards a sustainable future.
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