In an effort to mitigate the impact of climate change, Fortune REIT has proactively responded by committing to the Science Based Targets initiative (SBTi) – an international coalition of non-profit organizations and businesses promoting best practices for emission reduction in line with the Paris Agreement, which aims to limit global warming to 1.5 degree.

To combat the threats presented by COVID-19, Fortune REIT’s priority remains to provide a healthy and safe environment for shoppers, tenants, employees, and the communities it serves. This case study explores how Fortune REIT supported its stakeholders through this challenging time by adopting the use of technology and innovative practices.

With an expanding catchment area, +WOO has been redesigned to serve the community, with the functionality, safety and environmental considerations of the mall prioritised. To elevate the shopping experience, +WOO Phase 2 has been revitalized with an enhanced layout and inclusive facilities as well as interactive digital touches and recreational elements, making it a desirable destination for shoppers of all ages.

As part of a wider training initiative driven by ESR, a series of training on various compliance topics was rolled out to all employees to refresh their knowledge on the relevant laws, regulations and internal controls that apply to their day-to-day job responsibilities, reduce organizational risks and boost our stakeholders’ confidence in our business and operations.

ESR is a supporter of the United Nations-supported Principles of Responsible Investing, and a signatory to the World Green Building Council’s Net Zero Carbon Buildings Commitment, committing to achieving net-zero carbon across its business by 2030. The Manager has implemented various initiatives to drive decarbonisation throughout the operations of Fortune REIT and works hand-in-hand with tenants and banking partners to achieve a more sustainable future.

The Building Management and Building Optimization System has been rolled out at major Fortune Malls with an aim to improve operational efficiency as well as energy and cost saving by monitoring room temperatures, indoor air quality and footfall, raising the alarm when pipes are leaking and blocked, and detecting smoke and fires.

In its effort to tackle waste, Fortune REIT has also rolled out various waste reduction initiatives including food waste collection, the installation of food waste compost machines, the Recycling Fund’s Reverse Vending Machine and Beverage Carton Smart Recycling Machine in its malls. Together with the support of its tenants and shoppers, Fortune REIT is making meaningful steps to reduce its environmental footprint and to promote sustainable practices in the community.

As part of Fortune REIT’s on-going efforts to raise the public’s awareness of decarbonisation and to generate long-term value for its stakeholders, Farm@Fortune was unveiled on the rooftop of Fortune City One. Farm@Fortune is a green community project that creates local employment for farmers, promotes sustainable living practices in the community, environmental awareness, circular economy, social inclusion, green spaces and improved wellbeing; truly an integrated social value chain which reaps rewards.