In line with the Ascott Limited 2022 Sustainability Report and through Ascott CARES, its sustainability program, they drive its environmental, social and governance (ESG) efforts to safeguard the environment, uplift lives and build trust with its stakeholders. Ascott Limited’s 2023 report reflects their ongoing efforts towards meeting Ascott CARES commitments across its global portfolio and highlights the progress they have made, as well as the challenges that lie ahead.
(CARES stands for Community (C), Alliance (A), Respect (R), Environment (E), and Supply chain (S).)
Advancing Sustainability Through Ascott CARES
Ascott’s sustainability strategy, Ascott CARES, focuses on five core pillars: Community, Alliance, Respect, Environment, and Supply Chain. Notable achievements from 2023 include:
- Carbon Footprint Reduction: A 13% reduction in energy consumption intensity and a 10.3% decrease in carbon emissions intensity compared to 2019 levels. These milestones are bolstered by investments in renewable energy, with properties in Germany, the UK, and Japan adopting green energy solutions.
- Green Building Certifications: Over half of Ascott’s owned portfolio now holds green building certifications, including GSTC certification for Somerset Greenways Chennai and lyf one-north Singapore, paving the way for 100% certification by 2028, where applicable.
‘’With Ascott’s market leadership and global footprint, we aim to amplify the good we can do. Through Ascott CARES, our sustainability programme, we drive our ESG efforts to safeguard the environment, uplift lives and build trust with our stakeholders […] As we navigate through the unprecedented global challenges, from climate change to social inequality, the imperative for strategic partnerships and stakeholder collaborations to drive sustainable impact has never been stronger ‘’ shared Kevin Goh, Chief Executive Officer at Ascott Limited, and Beh Siew Kim, Chief Financial & Sustainability Officer, Lodging, CapitaLand Investment at Ascott Limited.
Partnership with GSTC
Page 21 from Ascott Limited Sustainability Report 2023
Ascott’s partnership with GSTC demonstrates a shared commitment to fostering global sustainable tourism. Key initiatives include:
- GSTC Training Programs: In 2023, Ascott signed a Memorandum of Understanding (MOU) with GSTC to jointly train and equip industry leaders and professionals in Singapore through our hospitality training centre, the Ascott Centre for Excellence (ACE). In 2023, the Ascott Centre for Excellence has facilitated 672 hours of sustainability training.
- Certification Goals: As a GSTC-Committed organization, Ascott has outlined a clear path for achieving GSTC-accredited certifications across its properties worldwide by 2028, further cementing its role as a leader in responsible hospitality.
Empowering Communities and Guests
In addition to its environmental commitments, Ascott emphasizes community engagement and guest involvement:
- Community Support: Initiatives like hospitality training programs and partnerships with local organizations empower communities, promote cultural preservation, and create inclusive economic opportunities.
- Guest Engagement: Programs like the Somerset Sustainability Passport invite guests to participate in eco-friendly activities, fostering awareness and collaboration in sustainability efforts.
During its day-to-day operations, Ascott Limited commits to its Ascott CARES strategic framework, which is aligned to the GSTC Criteria that span across the main themes of sustainable management, socioeconomic impacts, cultural impacts, and environmental impacts.
[Photo: Page 6 from Ascott Limited Sustainability Report 2023]
Explore Ascott’s 2023 Sustainability Report here.
About Ascott Limited
The Ascott Limited (Ascott), a wholly owned business unit of CapitaLand Investment, is a leading global lodging owner-operator headquartered in Singapore. With a diversified portfolio spanning over 950 properties in more than 220 cities across 40+ countries, Ascott offers serviced residences, coliving properties, hotels, senior living apartments, and more under its award-winning brands, including Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, and Préférence.
Ascott pioneered Asia Pacific’s first international-class serviced apartment with The Ascott Singapore in 1984 and now celebrates 40 years in hospitality with its “Ascott Unlimited” campaign, embracing innovation and growth. Its loyalty program, Ascott Star Rewards, provides exclusive benefits to members booking directly at participating properties. Discover more at www.discoverasr.com.
