We are the first real estate developer in Hong Kong and the Chinese mainland to commit to the Science Based Targets initiative (“SBTi”). Our SBTs were approved in November 2019, establishing a long-term decarbonisation trajectory for our portfolios around the world that are in line with the Paris Agreement.
Scope 1 and 2 GHG Emissions Intensity | Scope 3 GHG Emissions Intensity | Scope 3 GHG Emissions Intensity |
|---|---|---|
0 % 0 | Downstream Leased Assets | Capital Goods |
0 % 0 | 0 % 0 | 0 % 0 |
from a 2018 baseline | from a 2018 baseline | from a 2016-2018 baseline |
Scope 1 and 2 GHG Emissions Intensity |
|---|
0 % 0 |
0 % 0 |
from a 2018 baseline |
Scope 3 GHG Emissions Intensity |
|---|
Downstream Leased Assets |
0 % 0 |
from a 2018 baseline |
Scope 3 GHG Emissions Intensity |
|---|
Capital Goods |
0 % 0 |
from a 2016-2018 baseline |
In 2020, we reviewed and defined energy reduction targets and strategies for individual portfolios to support our SBTs. The respective financial requirements have also been incorporated into the annual budgeting process.
This year, our Sino-Ocean Taikoo Li Chengdu development became 100% powered by renewable electricity, reaching net zero carbon in annual electricity consumption for both landlord and tenant operations.
Meanwhile, we are continuing to adopt innovative low-carbon technologies and management practices and investing in energy research and development through our ongoing partnership with Tsinghua University.
In 2020, we reviewed and defined energy reduction targets and strategies for individual portfolios to support our SBTs. The respective financial requirements have also been incorporated into the annual budgeting process.
This year, our Sino-Ocean Taikoo Li Chengdu development became 100% powered by renewable electricity, reaching net zero carbon in annual electricity consumption for both landlord and tenant operations.
Meanwhile, we are continuing to adopt innovative low-carbon technologies and management practices and investing in energy research and development through our ongoing partnership with Tsinghua University.
A 27.8% reduction was observed in 2020, which was attributed to:
A 27.8% reduction was observed in 2020, which was attributed to:
We completed a pioneer study of the cradle-to-site carbon footprint data of One Taikoo Place during its construction. This was completed with technical support from a research team from the Hong Kong University of Science and Technology’s Department of Civil and Environmental Engineering and the experience supplied us with knowledge to establish a carbon accounting tool for measuring embodied carbon in future new development projects. Our experience with embodied carbon accounting has been shared with the industry practitioners in an academic paper published at the 8th International Conference on Innovative Production and Construction.
In 2020, we established performance-based targets on embodied carbon for concrete, rebar and structural steel for future projects in Hong Kong. The targets were informed by comprehensive market research and liaison with industry associations such as the Construction Industry Council.
We also started to include low-carbon procurement specifications, which were developed in accordance with international standards such as ISO 1406724 for construction materials such as concrete with pulverised fuel ash (“PFA”) or ground granulated blastfurnace slag (“GGBS”), rebar and structural steel with recycled content.
At the Two Taikoo Place construction site, our main contractor introduced a battery storage system to power the tower cranes, reducing carbon emissions and air pollution. At the same time, the concrete used in Two Taikoo Place is Platinum-certified under the Construction Industry Council Green Product Certification.
Our progress against the SBT Scope 3 – Capital Goods target will be reported upon the completion of Two Taikoo Place in 2022.
24 | ISO 14067 Greenhouse gases — Carbon footprint of products — Requirements and guidelines for quantification |
We completed a pioneer study of the cradle-to-site carbon footprint data of One Taikoo Place during its construction. This was completed with technical support from a research team from the Hong Kong University of Science and Technology’s Department of Civil and Environmental Engineering and the experience supplied us with knowledge to establish a carbon accounting tool for measuring embodied carbon in future new development projects. Our experience with embodied carbon accounting has been shared with the industry practitioners in an academic paper published at the 8th International Conference on Innovative Production and Construction.
In 2020, we established performance-based targets on embodied carbon for concrete, rebar and structural steel for future projects in Hong Kong. The targets were informed by comprehensive market research and liaison with industry associations such as the Construction Industry Council.
We also started to include low-carbon procurement specifications, which were developed in accordance with international standards such as ISO 1406724 for construction materials such as concrete with pulverised fuel ash (“PFA”) or ground granulated blastfurnace slag (“GGBS”), rebar and structural steel with recycled content.
At the Two Taikoo Place construction site, our main contractor introduced a battery storage system to power the tower cranes, reducing carbon emissions and air pollution. At the same time, the concrete used in Two Taikoo Place is Platinum-certified under the Construction Industry Council Green Product Certification.
Our progress against the SBT Scope 3 – Capital Goods target will be reported upon the completion of Two Taikoo Place in 2022.
24 | ISO 14067 Greenhouse gases — Carbon footprint of products — Requirements and guidelines for quantification |
In December 2020, Swire Properties signed on to the Business Ambition for 1.5⁰C campaign, the first real estate company in Hong Kong to pledge support to the campaign. Led by the Science Based Targets initiative in partnership with the United Nations Global Compact, this commitment requires us to ramp up our previous science-based targets (“SBT”) to align with the 1.5°C pathway and will be critical to supporting the delivery of a “net-zero emissions” economy by 2050. This also echoes the recent pledges of the Hong Kong and the Chinese mainland Central Government to achieve carbon neutrality.
In December 2020, Swire Properties signed on to the Business Ambition for 1.5⁰C campaign, the first real estate company in Hong Kong to pledge support to the campaign. Led by the Science Based Targets initiative in partnership with the United Nations Global Compact, this commitment requires us to ramp up our previous science-based targets (“SBT”) to align with the 1.5°C pathway and will be critical to supporting the delivery of a “net-zero emissions” economy by 2050. This also echoes the recent pledges of the Hong Kong and the Chinese mainland Central Government to achieve carbon neutrality.