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ART recognised for sustainability leadership

George Sell Uploaded 15 October 2021: Singapore: Ascott Residence Trust (ART) has been recognised for its "outstanding leadership in sustainability" in the 2021 Global Real Estate Sustainability Benchmark (GRESB).

In ART’s first participation in GRESB, it was recognised as a ‘Global Sector Leader - Hotel’, securing the top rank in the Asia Pacific Hotel – Listed category. ART was also awarded a four-star rating in GRESB 2021 and scored A for public disclosure.

Beh Siew Kim, CEO of Ascott Residence Trust Management Limited and Ascott Business Trust Management Pte. Ltd. (the Managers of ART) said: “As we expand ART’s footprint globally, we ensure that sustainability remains at the core of what we do. Being named a ‘Global Sector Leader’ and the number one for ‘Asia Pacific Hotel – Listed’ category in international benchmarks such as GRESB is a testament of ART’s leadership in sustainability. From ensuring that sustainability is factored in our investments, to working with our operators and lessees to green our properties globally, and stepping up our sustainable financing efforts, we aim to continue contributing to the environmental and social wellbeing of the communities.”

The GRESB assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments, and are aligned with international reporting frameworks, goals and emerging regulations. In 2021, more than 1,500 property companies, REITs, funds and developers participated in the real estate assessment.

To date, ART has 21 green-certified properties in its portfolio. ART continues to implement energy and water conservation measures to ensure efficient operations and minimise resource wastage. Aligned with CapitaLand’s 2030 Sustainability Master Plan, ART aims to green its entire portfolio by 2030.

In August 2021, ART came in first place in the Singapore Governance and Transparency Index (SGTI) under the REIT and Business Trust category. Climbing from the third spot, ART was noted for doing well in sustainability management and in its disclosure policies. SGTI evaluated 261 companies and 43 REITs and business trusts based on criteria such as corporate governance practices and disclosures, as well as the timeliness, accessibility, and transparency of their financial results.

In January 2021, ART was the first hospitality trust in Singapore to secure a green loan. Proceeds from the green loan are being used to finance ART’s maiden development project and coliving property, lyf one-north Singapore, which is slated to open in 4Q 2021. Recognised for its environmentally sustainable designs as well as energy-efficient and smart building features, the 324-unit lyf one-north Singapore has achieved the Green Mark GoldPLUS award by Building and Construction Authority of Singapore. When it is fully operational and stabilised, the coliving property is expected to achieve an estimated energy savings of approximately 971,019 kWh per year which is equivalent to the average electricity consumption of over 2,700 four-room Housing & Development Board flats monthly. The total water savings annually at lyf one-north Singapore is expected to be about 22,463 cubic metres, equivalent to about nine Olympic-size swimming pools.

lyf one-north Singapore integrates technology and innovations to improve overall energy efficiency and to achieve energy savings. Prominent green features include extensive use of energy-efficient LED lights in all areas with the provision of motion sensors in staircases and common toilets, delivering up to 33 per cent of energy savings. Intelligent occupancy sensors are also fitted in all units, contributing up to 36 per cent of energy savings. Each apartment will also be equipped with an energy-efficient centralised heat pump for its hot water system, and a variable refrigerant flow air-conditioning system to reduce water and energy consumption. The property will also feature sun-shading fins as part of its unique window design to reduce façade solar heat gain. The property will integrate greenery in its social spaces. Its lush planting within the property’s plaza spaces will allow natural shading, to create a thermally comfortable environment for outdoor activities.

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