Carbon Emissions
HKEX KPI A1.2, A1.5
The Company’s largest source of carbon emissions is Scope 2 emissions arising from purchased electricity in our Hong Kong portfolio. In 2019, this category of emissions declined by 9.2% compared to 2018.
In 2019, carbon intensity in our Hong Kong portfolio, Mainland China portfolio and hotel operations decreased compared to 2018. Total carbon emissions in our Mainland China portfolio and hotel operations increased in 2019 due to the inclusion of two properties: HKRI Taikoo Hui and The Middle House, Shanghai.
- The carbon intensity reduction target references the BAU baseline year of 2008 for our Hong Kong portfolio, and the first BAU baseline year for which a complete calendar year of data was available for projects in our Mainland China portfolio.
Energy Consumption
HKEX KPI A2.1, A2.3
In line with the reduction of energy consumption22 in our Hong Kong portfolio between 2008 and 2019, energy use intensity decreased by 26% from 199 kWh per square metre (“kWh/m2”) per year to 147 kWh/m2 per year over the same period.
By 31st December 2019, we had reduced annual energy consumption in our Hong Kong portfolio by 62.7 million kWh compared with 2008. This is consistent with meeting our 2020 reduction target.
We are also on track to meet our 2020 energy reduction target in Mainland China. Between 2010 and 2019, energy intensity in our Mainland China portfolio decreased by nearly 36% from 156 kWh/m2 per year to 100 kWh/m2 per year. By 31st December 2019, we had reduced our annual energy consumption in our Mainland China portfolio by 23.2 million kWh compared with the business-as-usual (“BAU”) scenario.23
23Refers to the amount in the first complete calendar year in which energy consumption data are collected from each project.
Water Use
HKEX KPI A2.2, A2.4
In 2019, the total water use and water intensity in our Hong Kong portfolio increased. And we attribute this increase, in part, to the use of fresh water to replenish flushing water due to a leak in an underground flushing water pipe. Total water use in our Mainland China portfolio and hotel operations also increased in 2019. This was due to the inclusion of two properties: HKRI Taikoo Hui and The Middle House, Shanghai. We also note a general increase of water intensity across our portfolios in 2019, and we are implementing water saving measures across our business to achieve our water use reduction targets by 2020.
Total Water Use and Water Intensity of Portfolio 2015-2019
Total Water Use
Water Use Intensity
- Our Hong Kong portfolio, Mainland China portfolio and U.S.A. portfolio refers to our office and retail portfolios in Hong Kong, Mainland China and Miami, U.S.A. respectively, excluding hotels.
- Water intensity reduction targets reference the baseline year of water consumption (2016).
- The 2018 total water use and water intensity of U.S.A. portfolio have been adjusted to exclude tenants’ water use.
Projects Under Development
Materials used in 2019
- Projects under development refers to projects that are under construction or in the precertification stage.
- Includes projects under development in all portfolios, including joint venture and non-joint venture projects.
- Includes biodiesel consumption in “diesel consumption”.