Corporate Carbon Footprinting (CCF)
Hospitality, Property development
Singapore
79 resorts around the world
Over 12,000 employees
Banyan Group is one of the world’s leading independent, multi-branded hospitality groups, offering exceptional, design-led experiences and centred around the mission of stewardship and wellbeing. With 79 resorts and hotels spanning across diverse landscapes in Asia, America, Africa, and the Middle East, the company has always championed sustainable development since being founded in Singapore in 1994.
In an effort to build a granular understanding of their emissions footprint and to plan a decarbonization transformation for its properties and supply chain, Banyan Group partnered with Terrascope to take the next step on their sustainability journey.
This would be the first time that Banyan Group was measuring their GHG emissions so they had no centralized system in place to collect all the business activity data needed for emissions calculations. With operations encompassing 76 entities in 14 countries across Asia, America, Africa and the Middle East, the main challenge was to determine the material sources of emissions and then locate the relevant data from multiple systems and formats, as well as offline sources, and integrate them together into a complete dataset ready for emissions calculations.
Furthermore, with the impending need for Banyan Group to align with the requirements of the Task Force on Climate-related Financial Disclosures (TCFD), a comprehensive understanding of their Scope 3, supply chain emissions became a business imperative.
Banyan Group leveraged the Terrascope platform to build a streamlined and scalable approach to data management, using AI to help categorize over 130K different business activities, and to find the most relevant emission factors needed to transform these into emissions data. Moreover, the Terrascope platform was able to identify data gaps and impute estimates for the missing data.
Thus Terrascope could build a granular view of Banyan Group’s emissions across its value chain to:
(1) Identify the most material hotspots to focus decarbonization strategies.
(2) Benchmark Banyan Group against their closest peers in the hospitality industry, and understand their sustainability performance compared to industry leaders.
(3) Put in place a repeatable emissions measurement & reporting process, enabling Banyan Group to track and manage emissions over a multi-year horizon, and to understand what is truly driving YoY changes.
Emissions Insights
The top 5 business activities accounted for over 70% of overall emissions, with food being the second highest, which was a surprise to Banyan Group.
Double clicking into food, Terrascope provided an analysis of consumption volume vs emissions contribution to help hotel operations teams understand the specific ingredients that were contributing the most emissions and the impact of reducing food waste.
Lastly, Terrascope extrapolated satellite data and Banyan Group's site-specific information to calculate the extent of tree cover loss and the resulting emissions during the year of the company's establishment and throughout a 20-year timeframe. This assessed Banyan Group's Land Use Change (LUC) impacts, as required by the Task Force on Climate-related Financial Disclosures (TCFD). It was validated that the LUC constituted less than 1% of Banyan Group’s total emissions, thereby confirming its immateriality for the company for further reporting.
Terrascope’s data management and AI capabilities brought speed to the process of data collection, ingestion, integration and transformation, enabling the measurement cycle for 79 properties, 76 entities and 130K business activities to be completed in weeks rather than months.
Terrascope’s platform enabled Banyan Group to confidently measure and report on its Scope 3 emissions aligned with the requirements for TCFD. Moreover, creating visibility into the different emissions intensity of operations across their markets empowered leaders to take greater ownership of their carbon footprint going forward.
The Terrascope platform paved the way for maximising decarbonization investments by forming the baseline input for building a Marginal Abatement Cost Curve, combining both financial and environmental considerations to maximise decarbonization initiatives.