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We are the first real estate developer in Hong Kong and Mainland China to commit to the Science-Based Targets initiative (“SBTi”), developed by the United Nations Global Compact, World Resources Institute, the CDP24 and the World Wide Fund for Nature.

In November 2019, our SBTs were validated and approved by the SBTi, making us the first real estate developer from Hong Kong and Mainland China to establish long-term decarbonisation goals for our portfolios around the world that are in line with the Paris Agreement.

These approved SBTs are:
Scope 1 and 2
GHG Emissions Intensity
Scope 3
GHG Emissions Intensity
Scope 3
GHG Emissions Intensity
per sqm, by 2025
Downstream Leased Assets
Capital Goods
per sqm, by 2030
per sqm, by 2030
per sqm, by 2030
from a 2018 baseline year
from a 2018 baseline year
from a 2016-2018 baseline year
Scope 1 and 2
GHG Emissions Intensity
per sqm, by 2025
per sqm, by 2030
from a 2018 baseline year
Scope 3
GHG Emissions Intensity
Downstream Leased Assets
per sqm, by 2030
from a 2018 baseline year
Scope 3
GHG Emissions Intensity
Capital Goods
per sqm, by 2030
from a 2016-2018 baseline year

Our strategies to achieve these targets are as follows:

Scope 1 and 2 emissions:

  • Continuously adopt innovative low-carbon technologies and management practices
  • Enhance energy data tracking and optimisation through our cloud-based smart energy management platform and application of artificial intelligence and machine learning
  • Invest in on-site and off-site renewable and clean energy procurement
  • Invest in research and development through our continuing partnership with Tsinghua University

Scope 3 emissions:

  • Downstream Leased Assets
    Work with tenants more closely to reduce their carbon and energy footprints, via free energy audits, our Green Kitchen Initiative and the introduction of smart metering systems.
  • Capital Goods
    Work with our supply chain partners to reduce the carbon and energy footprints throughout the life cycle of our buildings through procuring building materials with lower embodied carbon, optimisation of building design and better site management.

24Previously known as the Carbon Disclosure Project.