Banyan Tree Group Releases 2022 Sustainability Report

[Singapore, June 27, 2023] Recently, Banyan Tree Group released its 2022 Sustainability Report. As one of the founding signatories of the United Nations Global Compact (UNGC) in Singapore, Banyan Tree Group has upheld the core values of "Embracing the Environment, Caring for Society" for many years, adhering to a sustainable business model, and actively promoting, advocating, and practicing responsible travel. In this voluntarily disclosed sustainability report, the Group's progress on both long-term and short-term goals references the latest standards of the Global Reporting Initiative (GRI) to ensure alignment with the indicator framework of the United Nations Sustainable Development Goals (SDGs). This is also the 17th voluntary sustainability report submitted by Banyan Tree Group.

Key highlights of Banyan Tree Group's 2022 Sustainability Report:

· Benefiting from improved energy efficiency and the impact of partial temporary closures, in 2022, despite a steady increase in the number of hotels under the Group (from 47 to 63), its overall energy use and total greenhouse gas emissions decreased by 6% compared to 2019.

· By implementing mandatory tracking of waste and recycling across all hotels under the Group, Banyan Tree Group reduced its single-use plastic consumption by 32% compared to 2017.

· More than 12% of water used at Banyan Tree Group's hotels and resorts was recycled or reused. With the Group's annual drinking water consumption increasing by 27% year-on-year to a total of 5.86 billion liters, overall water usage dropped by 12.3% due to water recycling and reuse.

· Building on existing endangered species protection policies, Banyan Tree Group also developed higher-standard animal welfare policies and standards across the group, promoting cage-free and free-range practices, and added a policy offering fully plant-based menu options with a lower environmental impact than meat-based meals.

· The Group also continued numerous ecological protection and restoration efforts, including but not limited to: monitoring coral reef growth in the Maldives and Bintan Island, and planting 5,114 coral fragments; conducting sea turtle conservation work in Indonesia, Mexico, Thailand, and Vietnam, successfully releasing 876 sea turtles.

· Meanwhile, through equal employment, training, and promotion channels, in 2022, women accounted for 44.61% of all Banyan Tree Group employees, and 43% of senior management positions. Among the Group's owned and managed hotels, the gender pay gap was only 1.94%, exceeding the 5% target set in key performance indicators.

· To continuously practice a sustainable management model, the Banyan Tree Group board has also approved an update to the Group's materiality sustainability framework, which covers a range of material ESG (Environmental, Social, and Governance) issues. For each different issue, the Group will reference the GRI core standards and, in accordance with the reporting requirements of the Singapore Exchange (SGX), articulate its materiality, scope, management approach, key performance indicators (KPIs), and progress.

It is worth noting that Banyan Tree Group, together with the China Environmental Protection Foundation, continues to contribute to China's environmental and biodiversity protection efforts. In 2022, through the breeding technology system established by the Sanya Clownfish Conservation Laboratory project, the Group successfully released a total of 2,030 clownfish at Luhuitou Peninsula in Sanya City, Hainan Province, in October, on December 10, and between December 13 and 16, helping to improve and enhance the marine environment. Additionally, Banyan Tree Group has consistently tracked the Campus Safe Drinking Water Project, providing safe drinking water for teachers and students at Fuli Town Central Primary School in Yangshuo County, Guilin City, Guangxi Province, and will gradually roll out new water purification projects in the future.

As a company with a strong sense of social responsibility, Banyan Tree Group always takes promoting sustainable development as its core philosophy, upholds the core values of "Embracing the Environment, Caring for Society," advocates for social welfare and environmental protection, and strives to integrate social and environmental responsibility into its overall operations and guest experiences. While integrating into local cultural environments and creating travel experiences that foster harmony between humans and nature, it also creates long-term value for all stakeholders and destinations, enabling the tourism industry to achieve more sustainable development.