- Decline in sales of goods and consignment income due to increased outbound travelling by residents, stronger Singapore currency, higher interest rates, and underwhelming year-end festive season.
- Increased penetration of e-commerce.
- Shift towards greater work flexibility impacting consumer buying patterns.
- Higher operating expenses (utilities, asset replacement, fire safety compliance) affecting rental income.
- One incident of mislabelling of expiry date by a promoter at a Food Fair.
ISETAN (SINGAPORE) LIMITED
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, ISETAN (SINGAPORE) LIMITED disclosed greenhouse gas emissions of 3.8K tCO2e/year. By scope: Scope 1: 31.70 tCO2e/year; Scope 2: 3.7K tCO2e/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
3.8K tCO2e/year
2023
Energy Use
32.6K GJ/year
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 31.70 tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 3.7K tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 3.8K tCO2e/year |
| 2022 | 4.0K tCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Replaced 85% of the bulbs at Isetan Serangoon Central with energy-efficient LED bulbs.
- Implemented energy conservation systems (Z-CEP) that reduce fluctuations and increase efficiency of consumption at Isetan Scotts and Isetan Tampines.
- Replaced M&E equipment with energy efficient models when they are approaching or have reached their end-of-life stage.
- Achieved a 75% reduction in tartan paper bag usage and a 66% reduction in plastic bag usage compared to the FY2022.
- Decreased carbon emission intensity by 10% from 130.03 kgCO2e/m2 in FY2022 to 117.19 kgCO2e/m2 in FY2023.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Switch to LED lights at stores’ backyard when existing lights reach end of life.
- Close monitoring of monthly energy consumption.
- Achieve year-on-year reduction on the consumption of plastic and paper bags.
- Strive for zero incidents of work-related injuries.
- Maintain an appropriate balance of men and women holding management positions.
📅 Medium-term
- Enhance energy efficiency across operations by 15% by 2027.
🌱 ESG Focus Areas
Energy ConsumptionGreenhouse Gas EmissionsWorkplace Health and SafetyWaste Management and PackagingCustomer and Tenant Health and SafetyEmployee Engagement and DevelopmentCustomer PrivacyLocal CommunitiesAnti-corruption and complianceCorporate Social Responsibility/local communitiesMarketing and Product Labelling