Climate Change
Climate Change
2025 KPI
- Operational Carbon Emissions (Scope 1 and 2 SBT): Reduce absolute greenhouse gas (“GHG”) emissions by 25%13
Progress Updates in 2021
- Reduction of Scope 1 and 2 absolute GHG emissions:
0 %
2030 KPI
- Value Chain GHG Emissions (Scope 3 SBT – Downstream Leased Assets): Reduce carbon intensity from the tenant-controlled portion of downstream leased assets by 28% per square metre14
- Value Chain GHG Emissions (Scope 3 SBT – Capital Goods): Reduce embodied carbon intensity from new major developments by 25% per square metre (construction floor area)15
Progress Updates in 2021
- Reduction of carbon intensity from the tenant-controlled portion of downstream leased assets:
0 %
- Reduction of embodied carbon intensity from new major developments: To be reported upon completion of Two Taikoo Place in 2022
Energy
Energy Reduction
2025 KPI
- Reduction of energy use intensity16:
Hong Kong portfolio17
0 % 18
Chinese Mainland portfolio19
0 % 18
Progress Updates in 2021
- Reduction of energy use intensity:
Hong Kong portfolio
0 %
Chinese Mainland portfolio
0 %
- Continued to implement energy-saving measures throughout our Hong Kong and Chinese Mainland portfolios and hotels.
Renewable Energy
2025 KPI
- Generate 4-6% of landlord’s building energy from on-site renewable or clean energy sources for selected newly completed office projects
Progress Updates in 2021
- Approximately 6% of landlord’s building energy will be supplied by renewable sources at Two Taikoo Place.
- 100% of electricity at Sino-Ocean Taikoo Li Chengdu and The Temple House in Chengdu, as well as Taikoo Hui in Guangzhou is procured from renewable sources.
Resource and Circularity
Resource Recycling and Waste Diversion
2025 KPI
Waste diversion rates from landfills:
- Hong Kong portfolio (including hotels)
30% of commercial waste - Hong Kong (projects under development)
85% of demolition waste
70% of construction waste - Chinese Mainland (projects under development)
50% of total waste
Waste recycling rate:
- Chinese Mainland portfolio (including hotels)
40% of commercial waste
Progress Updates in 2021
Waste diversion rates from landfills:
- Hong Kong portfolio (including hotels)
23.6% of commercial waste - Hong Kong (projects under development)
94.6% of demolition waste for 6 Deep Water Bay Road
84.5% of construction waste (foundation stage) for Commercial Building Development at 46-56 Queen’s Road East
- Chinese Mainland (projects under development)
84.5% of construction waste for Taikoo Li Qiantan
60.3% of construction waste for Taikoo Li Sanlitun West extension
Waste recycling rate:
- Chinese Mainland portfolio (including hotels)
41.6% of commercial waste
Water
Water Reduction
2025 KPI
- Reduction of water intensity20:
Hong Kong portfolio (m3/m2)
0 %
Chinese Mainland portfolio (m3/m2)
0 %
Hotels (m3/guest night)
0 %
Progress Updates in 2021
- Reduction of water intensity:
Hong Kong portfolio (m3/m2)
0 %
Chinese Mainland portfolio (m3/m2)
0 %
Hotels (m3/guest night)
0 %
Biodiversity
Integration
2025 KPI
- Conduct biodiversity surveys in 50% of new development projects
- Implement guidelines to integrate biodiversity considerations into new developments
Progress Updates in 2021
- The findings and recommendations from the completed urban biodiversity study of our Taikoo Place redevelopment have been discussed and shared with various departments to enhance the biodiversity of both existing projects and projects under development. The findings from the study will be used to establish guidelines to integrate biodiversity considerations in future new projects.
Occupant Wellbeing
Indoor Air Quality (“IAQ”) Management
2025 KPI
- For common areas, 90% of buildings achieve IAQ Excellent Class in our Hong Kong portfolio21 or fulfil the local IAQ standard in our Chinese Mainland portfolio22
Progress Updates in 2021
- For common areas, approximately 82% of buildings in our Hong Kong portfolio achieved IAQ Excellent Class.
- Approximately 80% of buildings in our Chinese Mainland portfolio fulfilled the local IAQ standard.
Building/Asset Investments
Environmental Building Assessment Schemes23
2025 KPI
- 100% of wholly-owned new development projects24 to achieve the highest environmental building assessment scheme rating
- 90% of all wholly-owned existing developments24 to achieve the highest environmental building assessment scheme rating
Progress Updates in 2021
- 100% of projects under development achieved the highest ratings.
- 86% of existing developments achieved the highest ratings.
Hong Kong portfolio
- The Citygate Outlets expansion achieved Final Gold under BEAM Plus New Buildings Version 1.2.
Chinese Mainland portfolio
- Both ONE INDIGO and INDIGO Mall achieved a 2-star rating under the China Green Building Design Label.
- Taikoo Li Qiantan achieved WELL Platinum (Core) v2 Pilot.
13 | Compared to the 2019 baseline. |
14 | Compared to the 2018 baseline. |
15 | Compared to the 2016-2018 baseline. |
16 | The 2025 KPIs under Energy Reduction have been updated per our approved 1.5°C-aligned SBT. Energy consumption refers to purchased electricity for the provision of shared services for and in the common parts of our buildings. |
17 | Our Hong Kong portfolio refers to our office and retail portfolio and hotels in Hong Kong. |
18 | Compared to the 2019 baseline. |
19 | Our Chinese Mainland portfolio refers to our office and retail portfolio and hotels in the Chinese Mainland. |
20 | Hong Kong and Chinese Mainland portfolio: Compared to the 2016 BAU baseline; Hotels: Compared to the 2018/2019 baseline. |
21 | Our Hong Kong portfolio refers to our office and retail portfolio and hotels in Hong Kong. |
22 | Our Chinese Mainland portfolio refers to our office and retail portfolio and hotels in the Chinese Mainland. |
23 | BEAM Plus/LEED/China Green Building Design Label/WELL Certification; the most suitable environmental building assessment scheme is selected based on the project location. |
24 | Joint venture projects and trading properties are excluded. |