BANGKOK – 3rd April 2023 – Singha Estate garnered excellence in Corporate Social Responsibility from Thailand’s Most Admired Company recognition by BrandAge Magazine. The company also ranked among the Top 3 real estate companies that received the prestigious award.
Thitima Rungkwansiriroj, Chief Executive Officer, Singha Estate PCL said, “To be recognised with such a distinguished award reflects our continuous dedication and commitment to bringing values to Thai society since the beginning of Singha Estate. We are proud to receive the award alongside our parent company, Singha Corporation Co., Ltd., which has received the Best Corporate CSR award. Although Singha Estate has only been established for nine years, we have been able to build rapid and stable growth and continue to make great achievements for both business performances and the values they bring. The award is coincided with our mission to create sustainable development and enrich all stakeholders and the society.”
Singha Estate has also developed its long-term business model in respect of the environment. The company has set into account both positive and negative impacts throughout the supply chain under the vision, of “Sustainable Diversity”, which focuses on three key areas:
- Building a Low-Carbon Society
Singha Estate is committed to becoming a carbon-neutral (CN) organization within 2030 with a plan to reduce carbon emissions by 5% annually. The company will also incorporate clean energy technologies to replace fossil fuels to the greatest extent possible such as installing solar panels in the hotel projects, while also aiming to maintain a 1:1 ratio of carbon absorption to the project construction area, with a target of 1 million square meters within ten years. Additionally, the company collaborated with partners to carry out a forestation project at Singha Park in 2021. Furthermore, there are plans to build the ‘S District’ livable community in the areas where many company office buildings are located, in partnership with collaborators to promote a good quality of urban life.
- Preserving the Key Biodiversity Areas
For the hotel business, which is managed by SHR, a subsidiary of Singha Estate, we established a project to conserve the natural environment within the project area, including the construction of a learning centre to promote awareness and share the knowledge of environmental conservation with all stakeholders in the area.
Since the company’s establishment up to its ninth anniversary, Singha Estate has partnered with global and local organizations to support the conservation project for endangered marine species. For example, a collaboration with Parley for the Oceans for the sea waste project at the Crossroads Maldives and the Marine Discovery Centre at SAii Phi Phi hotel was established in collaboration with the national parks and Kasetsart University.
In 2022, around 21 endangered marine species were listed on the IUCN Red List, ranging from "Vulnerable" to "Critically Endangered". All of them were discovered within the "SeaYouTomorrow" marine biodiversity conservation project area.
- Promoting an Inclusive Society
Singha Estate has diverse business units, operating in multiple countries. With employees from various nationalities and spoken languages working together as a team, the company takes great care of its human capital based on international human rights standards, in order to maintain equality, develop knowledge and skills, and create sustainable opportunities for all employees. The company also respects the culture, ethnicity, and religion of the local communities and it operates with integrity. Additionally, Singha Estate also supervises its partners and suppliers throughout the business chain to operate under the principles of ethical business conduct.
Moreover, Singha Estate has continuously supported the para-sports such as the design and construction of Boccia National Training Center, as well as showing support to the para-athletes by sponsoring all sports associations for the disabled and national para-athletes.
“To keep our commitment to social responsibility, it is necessary that the management board shares the same vision and mission, from directors to managers, so that we are able to correspond and spearhead our employees in the same direction. Being in the real estate industry, we have seen challenges as it is a business where a high value of the investment is at stake. It is also a highly competitive business, so the business performance could potentially fluctuate. It is a matter of how we can keep the balance between creating profit and sustaining our planet and keeping the harmony between the gives and takes, so that we can continue to grow sustainably and harmoniously with society and the environment,” added Thitima.