Sustainability
Our Sustainability Strategies

Phoenix takes pride in integrating elements of sustainability into its value chain and business model. To reinforce our commitment to sustainable development, we have established objectives to shape the ESG management approach and strategies into four key pillars:

Our Sustainability Taskforce

Phoenix established the Sustainability Taskforce led by Senior Management, with 12 members across teams in different regional offices.

We proactively engage our investors about sustainability at fund, investment vehicle and property level.

Principles for Responsible Investment (PRI)

As a signatory of the PRI, we are committed to incorporating responsible environmental, social and governance practices into our investment strategy, shaping a sustainable future for communities and creating long term value for all our investors.

Global recognition for our sustainable development in leading industry benchmarks
Global Real Estate Sustainability Benchmark(GRESB)

Both our Phoenix Asis Real Estate Investments V, L.P. and Phoenix Asia Real Estate Investments VI, L.P. received Green Star rating under GRESB Real Estate Assessments for three consecutive years. In 2020, Phoenix Asia Real Estate Investments V, L.P. is also recognized as GRESB Regional Development Sector Leader in the Asia Diversified category. In 2021, Phoenix Asia Real Estate Investments VI, L.P. is again recognized as GRESB Regional Development Sector Leader in the Asia Mixed Use category. In 2022, Phoenix Asia Real Estate Investments VI, L.P. received 4-Star Rating in Development Module.

Support for Climate-related information disclosure

Phoenix has joined the Financial Stability Board's (FSB) Task Force on Climate-related Financial Disclosure (TCFD) as a supporter in 2021. We committed to supporting the TCFD in recognition of the importance of disclosing information on the financial impacts of climate change, and as part of its overall approach to responible investment.

Phoenix has joined the Science Based Targets initiative (SBTi) in 2023. We committed to setting a science-based emission reduction target aligned with the SBTi’s target-setting criteria. We aim for the highest level of ambition in their target setting and also commit to set a long term science-based target to reach net-zero value chain GHGs emissions by no later than 2050.

Global recognition for our sustainable development in leading industry benchmarks
Phoenix Asia Real Estate Investments V, L.P.:

For 2 consecutive years, our opportunistic Fund V has achieved Green Star rating in GRESB real estate assessment. In 2020, the fund has received the recognition of GRESB Regional Development Sector Leader.

For invested properties under Fund V, over 50% of assets under management by GFA is certified by at least one green building certification in 2022.

During COVID-19 hard times, we demonstrated resilience at our invested hotel properties. Take Quintessa Hotel Tokyo Ginza as an example. It became a "Shelter Hotel" that provided a dedicated floor, with high hygiene level of standard, for guests that seek maximum protection. Sterilisation work and ventilation rate at guest rooms and common areas are enhanced, in order to provide with confidence in staying and combating COVID-19.

Phoenix Asia Real Estate Investments VI, L.P.:

Our opportunistic Fund VI has received the recognition of GRESB Regional Development Sector Leader in 2021, demonstrating our exemplary efforts in pursuing sustainability at our portfolio of properties.

For invested properties under Fund VI, over 70% of assets under management by GFA is certified by at least one green building certification in 2022.

We are also committed to bringing social sustainability impact through our invested properties. Take The Grove as an example. With the development being awarded 5 Star rating under Green Star - Communities, by the Green Building Council of Australia, the development amenities like the retirement village and a community activity center, as well as employing persons with disability and providing skills training support to them.