Citadines Bali signs financing facility from HSBC Indonesia to adopt digital tools from Envision Digital to quantify emissions and target reductions, and from STACS to enable better data insights and scale decarbonisation financing as part of its decarbonisation journey.
BALI, SINGAPORE, 2 November 2022 –
Genesis Indojaya, the developer of Citadines Berawa Beach Bali (‘Citadines Bali’) today announced that it has signed a financing facility from PT Bank HSBC Indonesia (‘HSBC’) and partnerships with Singapore-headquartered environmental, social, and governance (‘ESG’) fintech Hashstacs Pte Ltd (‘STACS’), as well as Singapore-based global net zero software provider Envision Digital, to support its decarbonisation and green certification journey.
Citadines Bali will be the first hotel in Bali to adopt digital tools to track emissions from its operations, which can be replicated to enable other hotels or buildings who are transforming to be more sustainable by utilising holistic ESG data and digital tools. The partnership involves the technical integration of EnOSTM, Envision Digital’s net zero platform for decarbonisation to the ESGpedia digital registry, which powers the ESG Registry of the Monetary Authority of Singapore’s (‘MAS’) Project Greenprint.
Accurate GHG emissions data on a common registry for effective green financing
Through the partnership, Envision Digital’s smart IoT devices will be installed to measure and track greenhouse gas (‘GHG’) emissions by Citadines Bali more accurately. Utilising Envision Digital’s EnOS Ark, Envision Digital’s smart carbon management solution, Citadines Bali can effectively quantify emissions and target reductions. Through technical integration, these carbon emission data will be shared with STACS’ ESGpedia, which serves as the central ESG registry for the financial sector, aggregating ESG data and certifications across multiple industry data sources, to support decarbonisation financing through holistic data and digital tools. Financial institutions can leverage on ESGpedia to make better ESG financing decisions and effectively monitor its green portfolio on an ongoing basis.
Citadines Bali obtained a loan from PT Bank HSBC Indonesia that will be earmarked for activities to build Citadines’ sustainable practices which include the adoption of technology to enable better emission data insights, enabling Citadines Bali on its journey towards decarbonisation
The availability of these data on a single registry ESGpedia also helps resolve the current industry challenge of data fragmentation. This in turn makes it easier for Citadines Bali to provide the necessary accurate details to attain green certifications and access sustainable financial services to achieve their ESG goals moving forward.
Business and regulatory push towards decarbonisation for hospitality sector
The multi-party partnership is aligned with The Ascott Limited’s (‘Ascott’) movement called Go Green @ Ascott with its green vision to adopt Green and sustainable business practices, including decarbonising and accelerating the reduction in GHG emissions intensity in its lodging portfolios. Citadines Bali is developed by Genesis Indojaya and operated by Ascott Indonesia. The property was launched in 2021.
In company alphabetical order:
Darren Chua, Genesis Indojaya’s Project Director for Citadines Bali, said:
“ESG initiatives are something which we hold close to our hearts as property developers, hospitality providers and global citizens. Citadines Bali has been one of the most active first movers in a myriad of ways in Bali, and we are excited to continue these positive efforts through this collaboration with HSBC, Envision Digital and STACS.”
Michael Ding, Global Executive Director at Envision Digital, said:
“This industry-first partnership underscores the leadership position taken by Citadines Bali for the hospitality industry to reach net zero. EnOS Ark enables companies to leverage IoT technology for real-time monitoring, carbon abatement and offset — allowing them to differentiate themselves and accelerate their decarbonisation journey.
Eri Budiono, Commercial Banking Director, HSBC Indonesia, said:
“The road to recovery in hospitality industry opens an opportunity to build more sustainable operations. The hotel industry has a significant impact to the environment and society as it is among the highest users of water, energy and food, while at the same time provides jobs and ripple effect to the overall economy. Therefore, it is important for hotel operators to start transforming their operations to be more sustainable.”
“HSBC is committed to support our customers in their transition journey and we are delighted to support Citadines Bali’s journey in decarbonising their operations and we hope this will inspire other players in the hospitality industry,” he added.
Benjamin Soh, Co-Founder and Managing Director at STACS, said:
“Businesses in the hospitality industry require greater strides in their sustainability journey via technology and data, to measure the impact of their sustainability efforts. STACS is pleased to have supported Citadines Bali in its ESG journey through ESGpedia. Together with Envision Digital, we aim to scale and replicate this to hotels in Singapore and across the region to enable them to achieve the targets set out in the Hotel Sustainability Roadmap.”
With other multinationals hospitality companies leading the way and announcing new decarbonisation goals1, as well as the launch of the Hotel Sustainability Roadmap by the Singapore
Hotel Association (‘SHA’) and Singapore Tourism Board (‘STB’) earlier this March2, which sets out the target for 60% of hotel room stock in Singapore to attain sustainability certification by 2025, as well as to commence tracking of emissions by 2023 and reduce emissions by 2030, with a view to achieve net-zero emissions by 2050, there is an urgent call for the hospitality sector to accelerate its sustainability and decarbonisation journey — and technology and data are in place to facilitate this transition.
For further information, please contact:
Citadines Berawa Beach Bali (https://www.discoverasr.com/en/citadines/indonesia/citadines-berawa-beach-bali)
Darren Chua, Project Director
Email: [email protected]
Bogank Serpiyadi, General Manager
Email: [email protected]
Envision Digital (www.envision-digital.com)
Kum Munlock, Deputy Managing Director, Singapore
Email: [email protected]
Ariavita Purnamasari, [email protected]
About Citadines Bali
Citadines Berawa Beach Bali, a development by Genesis Indojaya, is multi-award winning serviced residence project located in the prime tourist hub in Bali known as Canggu. It is perfectly located — a short stroll to the beautiful Berawa Beach; in the middle of a plethora of food, beverage and shopping options; and in the heart of the culture-rich hipster scene of Bali. Nature, culture, nourishment and entertainment. The property holds 226 rooms, comprising Studios, One Bedroom Apartments, Two Bedroom Apartments and a Presidential Suite. It is professionally managed by Ascott under the Citadines brand.
About Envision Digital
Envision Digital is committed to becoming the world’s leading net zero technology partner for enterprises, governments, and cities, with the goal of accelerating progress towards carbon-free
energy and improving quality of life for all of humanity. The company’s EnOSTM net zero platform manages over 220 million devices and 560 Gigawatts of electricity, powering highly configurable, End-to-End AIoT solutions that use AI to reduce carbon emissions and costs, improve return on capital, and simplify reporting and compliance.
The company has over 1000 employees and presence across 14 countries including the United Kingdom, France, Germany, the Netherlands, Norway, Malaysia, China, Japan and the United States, with headquarters in Singapore. For more information, please visit www.envision-digital.com/.
About PT Bank HSBC Indonesia
HSBC has been operating in Indonesia since 1884 and currently serves customers throughout Indonesia. PT Bank HSBC Indonesia is a member of the HSBC Group which offers Commercial Banking and Global Banking services for Corporate and Institutional customers, Global Markets for Treasury and Capital Market management as well as Wealth and Personal Banking.
PT Bank HSBC Indonesia is licensed and supervised by the Financial Services Authority (OJK).
PT Bank HSBC Indonesia included in the guarantee program by Indonesia Deposit Insurance Corporation (LPS).
STACS (Hashstacs Pte Ltd) is a Singapore-headquartered FinTech company focused on ESG FinTech, operating ESGpedia, which powers the Monetary Authority of Singapore’s (MAS) Greenprint ESG Registry. STACS serves as the Nexus of ESG Finance with ESG data across multiple industries and digital tools for the financial sector to scale decarbonisation financing, as well as a platform to provide high-quality carbon offsets to mitigate residual emissions. Its clients and partners include global financial institutions and corporates. STACS is an Award Winner of the MAS Global FinTech Innovation Challenge Awards 2020, and a two-time awardee of the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant, under the Financial Sector Development Fund administered by the MAS. For more information, please visit www.stacs.io