Our Performance (Environment) Working Group, which comprises 29 members from different functions within the Company, has developed key performance indicators for seven environmental and resource management focus areas.
This year, we continued to work towards our 2025 and 2030 KPIs, with our approved 1.5°C science-based targets guiding our efforts across the Company. Our 2022 progress is summarised in the table below.
Decarbonisation
2025 KPI
- Operational Carbon Emissions (Scope 1 and 2 SBT): Reduce absolute greenhouse gas (“GHG”) emissions by 25%14
Progress Updates in 2022
- Reduction of Scope 1 and 2 absolute GHG emissions:
28%
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 metre15
- Value Chain GHG Emissions (Scope 3 SBT – Capital Goods): Reduce embodied carbon intensity from new development projects by 25% per square metre (construction floor area)16
Progress Updates in 2022
- Reduction of carbon intensity from the tenant-controlled portion of downstream leased assets:
40%
- Reduction of embodied carbon intensity from new major developments:
17%
14 | Compared to the 2019 baseline. |
15 | Compared to the 2018 baseline. |
16 | Compared to the 2016-2018 baseline. |
Energy Reduction
2025 KPI
- Reduction of electricity use intensity (kWh/m2)17:
Hong Kong portfolio18
20%
Chinese Mainland portfolio20
13%
Progress Updates in 2022
- Reduction of electricity use intensity (kWh/m2):
Hong Kong portfolio
15%
Chinese Mainland portfolio
9%
- 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 2022
- 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 Guangzhou is procured from renewable sources.
17 | The 2025 KPIs under Energy have been updated per our approved 1.5°C-aligned SBT. Energy Use Intensity has been renamed to “Electricity Use Intensity” in 2022 to reflect the use of electricity for the provision of shared services for and in the common parts of our buildings. The actual scope of this KPI remains unchanged. |
18 | Our Hong Kong portfolio refers to our office and retail portfolio and hotels in Hong Kong. |
19 | Compared to the 2019 baseline. |
20 | Our Chinese Mainland portfolio refers to our office and retail portfolio and hotels in the Chinese Mainland. |
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 waste21
Waste recycling rate:
- Chinese Mainland portfolio (including hotels)
40% of commercial waste
Progress Updates in 2022
Waste diversion rates from landfills:
- Hong Kong portfolio (including hotels)
25.4% of commercial waste - Hong Kong (projects under development)
94.6% of demolition waste for 6 Deep Water Bay Road
81.7% of construction waste for EIGHT STAR STREET
89.3% of construction waste for Two Taikoo Place
- 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)
44.8% of commercial waste
21 | The waste diversion rate from landfill for Chinese Mainland projects under development is calculated in accordance with LEED requirements. Flexibility will be allowed for projects not wholly-owned by the Company, and for projects with major contractor(s) already on board. |
Water Reduction
2025 KPI
- Reduction of water intensity:
Hong Kong portfolio22 (m3/m2)
10%
Chinese Mainland portfolio22 (m3/m2)
20%
Hotels23 (m3/guest night)
8%
Progress Updates in 2022
- Reduction of water intensity:
Hong Kong portfolio (m3/m2)
9.2%
Chinese Mainland portfolio (m3/m2)
25.9%
Hotels (m3/guest night)
15.1%
22 | Our Hong Kong portfolio refers to our office and retail portfolios in Hong Kong, excluding hotels; our Chinese Mainland portfolio refers to our office and retail portfolios in the Chinese Mainland, excluding hotels. For our Hong Kong portfolio and Chinese Mainland portfolio, the water intensity reduction targets are compared to a 2016 BAU baseline year. |
23 | For Hotels, the water intensity reduction targets set is compared to a 2018/2019 baseline year. |
Integration
2025 KPI
- Conduct biodiversity surveys in 50% of new development projects
- Implement guidelines to integrate biodiversity considerations into new developments
Progress Updates in 2022
- 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.
Indoor Air Quality (“IAQ”) Management
2025 KPI
- For common areas, 90% of buildings achieve IAQ Excellent Class in our Hong Kong portfolio24 or fulfil the local IAQ standard in our Chinese Mainland portfolio25
Progress Updates in 2022
- For common areas, approximately 83% 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.
24 | Our Hong Kong portfolio refers to our office and retail portfolio and hotels in Hong Kong. |
25 | Our Chinese Mainland portfolio refers to our office and retail portfolio and hotels in the Chinese Mainland. |
Environmental Building Assessment Schemes26
2025 KPI
- 100% of wholly-owned new development projects27 to achieve the highest environmental building assessment scheme rating
- 90% of all wholly-owned existing developments27 to achieve the highest environmental building assessment scheme rating
Progress Updates in 2022
- 100% of projects under development achieved the highest ratings.
- 93% of wholly-owned existing developments achieved the highest ratings.
Hong Kong portfolio
- Lincoln House achieved Final Platinum rating under BEAM Plus Existing Building Version 2.0.
- Pacific Place achieved Final Platinum rating under BEAM Plus Existing Building Version 2.0.
Chinese Mainland portfolio
- Taikoo Hui Guangzhou achieved Platinum under LEED v4 for Building Operations and Maintenance: Existing Buildings and Platinum under WELL Version 2 Core.
- Taikoo Li Sanlitun achieved Platinum under LEED v4.1 for Building Operations and Maintenance: Existing Buildings.
26 | BEAM Plus/LEED/China Green Building Design Label/WELL Certification; the most suitable environmental building assessment scheme is selected based on the project location. |
27 | Exclude trading properties. |
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