SD Governance Structure
Our SD 2030 Strategy seeks to reinforce these foundations by integrating economic, social, and environmental considerations into all levels of our business decision-making processes.
Board of Directors
Our Board of Directors (“the Board”) is actively engaged in formulating and implementing our SD 2030 Strategy. The Board oversees SD issues, while the Sustainable Development Steering Committee (“SD Steering Committee”) reports material SD issues and the progress made towards 2025 key performance indicators (“KPIs”) to the Board. These issues are discussed at quarterly board meetings.
The Board provides oversight of our risk management framework and our SD risks, including climate-related risks. Swire Properties also conducts regular risk identification, analysis and review management processes throughout the year through the Audit Committee and our Enterprise Risk Management (“ERM”) system, including our Corporate Risk Register.
SD Steering Committee
The SD Steering Committee is chaired by the Chief Executive. Other members are the Finance Director and five members of our senior management from the development and valuations, human resources and administration, portfolio management, and technical services and sustainable development departments.
The Chairman of the SD Steering Committee reports relevant SD matters to the Board, as appropriate.
In accordance with its terms of reference, the SD Steering Committee is responsible for reviewing the Company’s SD 2030 Strategy and ensuring its operations and practices are carried out in line with the strategy. The SD Working Groups report to the SD Steering Committee on a regular basis.
The SD Steering Committee reviews the Company’s performance in terms of KPIs and SD initiatives that have been recommended by the SD Working Groups.
SD Working Groups
Each Pillar of the SD 2030 Strategy is supported by a Working Group. In 2021, these SD Working Groups continued to work on the KPIs and future targets that have been set for 2025 and 2030. Read more about our 2025 and 2030 KPIs here.
The members of each SD Working Group are carefully selected to ensure the inclusion of employees with different backgrounds, types of expertise and varying levels of seniority.
Communication and Engagement Committee
Our SD Communication and Engagement Committee identifies, prioritises and oversees the implementation of communication and engagement plans for initiatives that support our SD 2030 Strategy. It is chaired by our Director, Marketing, Communications and Digital. This Committee also includes representatives from different functions within the Company. Read more about what this Committee accomplished in 2021 here.
Sustainable Development Policy
Our Sustainable Development Policy (“SD Policy”) was first published in 2008 and has guided the Company’s operations since then. The SD Policy reflects our belief that long-term value creation depends on the sustainable development of our business, our supply chain and the communities in which we operate. These factors are continuously considered during the inception, design, construction, occupation and demolition phases of our development projects.
The SD Policy explicitly states that the Company will be a good steward of the natural resources and biodiversity within our influence and ensure that all potentially adverse impacts of our operations are identified and managed appropriately.
With respect to the environment, our approach follows the precautionary principle2 which states: “Where there are threats of serious or irreversible damage, lack of full scientific certainty shall not be used as a reason for postponing cost-effective measures to prevent environmental degradation”.
We strive to operate in a manner that protects the health and safety of all of the people with whom we work. We also strive to be an employer of choice by providing a working environment in which all employees are treated fairly and with respect so that they can realise their full potential.
Swire Properties’ Policies
Integrating SD into our Business Operations
Business Integration and Budgeting
Corporate Risk Management
The precautionary approach is referred to in Principle 15 of the Rio Declaration on Environment and Development.