As a trailblazer in sustainable tourism and a founding signatory of the United Nations Global Compact (UNGC) in Singapore, Banyan Tree Group has long advocated a proactive and accountability-driven approach to sustainability. In its 17th voluntarily produced sustainability report, Banyan Tree Group references the latest Global Reporting Initiative (GRI) Standards to provide an update on its progress in relation to short-term and long-term targets aligned with the global indicator framework for Sustainable Development Goals set by the United Nations and guided by its ethos “Embracing the Environment, Empowering People”.
Key takeaways from Banyan Tree Group’s 2022 sustainability report:
- In 2022, total energy use and greenhouse gas emissions across the organization were lower by 6%, compared to the baseline of 2019, despite the number of properties increasing from 47 to 63. This was due to improved efficiency and some temporary closures.
- Compulsory waste monitoring and recycling tracking was implemented at all properties, achieving a 32% reduction in single use plastic compared to the 2017 baseline.
- Over 12% of water used by the Group was recycled or recaptured. The Group’s total annual potable water use increased by 27% year-on-year to 5.86 billion litres, but use POR decreased by 12.3% because of increased water recycling.
- In addition to the existing endangered species policy, the Group developed group-wide animal welfare policies and standards to drive cage- and crate-free production, and a policy to increase plant-based menu options that have a lower environmental impact than meat.
- The Group continued with conservation and restoration efforts including monitoring of coral reefs in the Maldives and Bintan and planting of 5,114 corals, as well as turtle conservation in Indonesia, Mexico, Thailand and Vietnam, and the safe release of 876 hatchlings, among other initiatives.
- By hiring, training, and promoting associates without discrimination, 44.61% of all associates and 43% of senior management were women in 2022.The gender pay gap at owned and managed hotels was 1.94% after adjustment, which was well within our KPI of <5%.
- The Board has endorsed an updated materiality and sustainability framework, approving the selection of material Environmental, Social and Governance (ESG) factors. For each topic, we present its importance, its scope, our management approach, Key Performance Indicators (KPIs) and progress, in accordance with the reporting requirements of the Singapore Exchange (SGX) and referencing GRI standards.
