Annual Report 2019

ANNUAL REPORT 2019 59 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT MANAGEMENT STATEMENT The world is changing at an unprecedented speed, resulting in both opportunities and challenges that were not envisaged in the past which affects all aspects of our lives. In face of the social and environmental threats that make headlines every day, we need a more holistic approach to ensure the sustainable development of businesses. There is little doubt that the future will be shaped by technologies. While resource consumption is unavoidable, FEC is confident that technology advancement will enable businesses and organisations to cut consumption of resources and costs of production and enhance their operation efficiency. It is in this approach that the Group embarks its journey of sustainability. Societal changes and technological advancement has given rise to new expectations, understanding and possibilities of sustainable living. Sharing is a basis for achieving equality which is fundamental to creating a more liveable and just world. By bringing the community to share their resources and time, FEC can seize the opportunity to exercise its role in creating a more sustainable living environment. The Group is aware of the rising popularity of timeshares in different markets and it is looking into the feasibility of incorporating such elements into its businesses, such as timeshare property and car sharing, to offer new customer experiences while reducing its environmental impact. Our three-pronged business development, encompassing Property Development, Hotel and Car Park, allows us to effectively integrate our resources and expertise in different areas to achieve the goal of facilitating a more sustainable lifestyle through different approaches. Technology advancement is crucial to enhancing operation efficiency. In the future, the Group will expand the implementation of renewable energy. To reduce its energy consumption in business operation, the Group is considering to expand its adoption of solar panels for hotel buildings in Malaysia and Australia. In addition, it will expand its scope of services for car park business unit, such as providing electric vehicle charging facilities and developing autonomous car navigation systems, to enable the community to embrace a more environmental-friendly way of life. In response to the rapid change of environment and global sustainability issues such as customer data privacy and climate resilience, FEC will further enhance its sustainability governance by reviewing the effectiveness of current management approaches and considering improvement measures. The interests of the next generation matter as much as that of the current generation. The Group values their opinions as the successful implementation of sustainability strategies relies on the collaboration of talents of age groups. It is on the Group’s agenda to engage more young talents in the development of a sustainability strategy to rise above the challenges of today’s world. David CHIU Chairman and Chief Executive Officer June 2019