Frasers Centrepoint Trust (FCT) is a Singapore-based real estate investment trust (REIT) that specializes in owning and managing regional shopping malls in Singapore. The company was founded in 2006 and has since grown to become one of the largest retail REITs in Singapore, with a portfolio of 10 properties worth over S$6 billion.
FCT's mission is to provide a sustainable and vibrant shopping experience for its customers, while delivering long-term value for its stakeholders. As part of this commitment, the company has been actively pursuing decarbonisation initiatives to reduce its carbon footprint and promote renewable energy.
One of FCT's key decarbonisation initiatives is its Corporate Energy Management (CEM) program, which aims to improve the energy efficiency of its properties and reduce their carbon emissions. The program includes a range of measures such as upgrading lighting systems, installing energy-efficient air conditioning systems, and implementing smart building management systems.
FCT has also been exploring the use of Corporate Power Purchase Agreements (PPAs) to source renewable energy for its properties. A Corporate PPA is an agreement between a company and a renewable energy provider, where the company agrees to purchase a certain amount of renewable energy from the provider over a specified period of time. By entering into a Corporate PPA, FCT can access renewable energy at a competitive price, while also supporting the growth of the renewable energy industry in Singapore.
In 2020, FCT signed its first Corporate PPA with Sunseap Group, a leading solar energy provider in Singapore. Under the agreement, Sunseap will supply FCT with 5.3 megawatts of solar energy, which will be used to power FCT's properties. The agreement is expected to reduce FCT's carbon emissions by over 4,300 tonnes per year, equivalent to taking 930 cars off the road.
FCT has also been investing in renewable energy infrastructure to support the growth of the renewable energy industry in Singapore. In 2019, the company acquired a 50% stake in a rooftop solar project in Singapore, which is expected to generate over 2.4 million kilowatt-hours of renewable energy per year. The project is part of FCT's broader strategy to invest in renewable energy infrastructure and support the development of a sustainable energy ecosystem in Singapore.
Overall, FCT's decarbonisation initiatives demonstrate its commitment to sustainability and its role as a responsible corporate citizen. By investing in energy efficiency and renewable energy, the company is not only reducing its carbon footprint but also contributing to the development of a more sustainable future for Singapore.