1.5°C-Aligned SBTs Approved
Swire Properties is the first real estate developer in Hong Kong and the Chinese Mainland to have 1.5°C science-based decarbonisation targets approved.
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Climate Change
GRI 305
HKEX Aspect A1, A2, A3, A4, KPI A1.5, A3.1, A4.1
HKEX Aspect A1, A2, A3, A4, KPI A1.5, A3.1, A4.1
We recognise that climate change poses significant risks and also presents significant opportunities to our business. We are firmly committed to reducing climate impacts and optimising resource efficiency throughout our operations.
We are responding to the Climate Change focus area through initiatives on mitigation, adaptation and resilience. The relevant SDG is:
SDG 13
Taking urgent action to combat climate change and its impacts.
Climate Change Policy
Our Climate Change Policy outlines our commitment to managing climate risks across our operations and to developing mitigation, adaptation and resilience strategies to address those risks in line with global best practices.
First Real Estate Developer in Hong Kong and the Chinese Mainland to Have New 1.5°C-Aligned Science-Based Targets (“SBTs”) Approved
In December 2020, Swire Properties signed the Business Ambition for 1.5°C campaign. We were the first real estate company in Hong Kong and the Chinese Mainland to pledge support to the campaign led by the Science Based Targets initiative in partnership with the United Nations Global Compact.
In 2021, we accelerated our efforts to fight climate change by setting ambitious new science-based targets (“SBTs”) that are approximately 50%27 more aggressive than the original 2°C-aligned SBTs approved by the Science Based Targets initiative in 2019. Being the first real estate developer in Hong Kong and the Chinese Mainland to have these new goals officially approved by SBTi in September 2021, the Company is now on track to meet net-zero emissions by 2050. Swire Properties fully supports the Hong Kong government’s pledge to achieve carbon neutrality before 2050.
Our approved SBTs that align with the 1.5°C-aligned Decarbonisation Pathway are:
| Scope 1 & 2 (Operational GHG Emissions) | Scope 3 (Indirect Upstream & Downstream GHG Emissions) | |
|---|---|---|
2025 |
| N/A |
2030 |
|
|
27 | Calculated based on the comparison between the absolute GHG emissions of the original 2°C-aligned SBTs and newly approved 1.5°C-aligned SBTs. |
| Scope 1 & 2 (Operational GHG Emissions) | |
|---|---|
2025 |
|
2030 |
|
Scope 3 (Indirect Upstream & Downstream GHG Emissions) | |
|---|---|
2025 | N/A |
2030 |
|
27 | Calculated based on the comparison between the absolute GHG emissions of the original 2°C-aligned SBTs and newly approved 1.5°C-aligned SBTs. |