Our Performance (Environment) Working Group, which comprises 30 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 (“SBTs”) guiding our efforts. Our 2023 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%11
Progress Updates in 2023
- Reduction in Scope 1 and 2 absolute GHG emissions:
29%
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 metre12
- 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)13
Progress Updates in 2023
- Reduction in carbon intensity from the tenant-controlled portion of downstream leased assets:
40%
- Reduction in embodied carbon intensity from new major developments: To be reported upon completion of Six Pacific Place
Energy Reduction
2025 KPI
- Reduction of electricity use intensity (kWh/m2)14:
Hong Kong portfolio15
20%
Chinese Mainland portfolio17
13%
Progress Updates in 2023
- Reduction of electricity use intensity (kWh/m2):
Hong Kong portfolio
15%
Chinese Mainland portfolio
7%
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 2023
- Expected to be equivalent to approximately 6% of landlord’s building energy was supplied by renewable sources at Two Taikoo Place.
- In 2023, INDIGO joined Taikoo Li Sanlitun, Taikoo Hui Guangzhou and Taikoo Li Chengdu in procuring renewable electricity. In particular Taikoo Hui Guangzhou procured 100% of renewable electricity for both tenant and landlord operations.
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 waste18
Waste recycling rate:
- Chinese Mainland portfolio (including hotels)
40% of commercial waste
Progress Updates in 2023
Waste diversion rates from landfills:
- Hong Kong portfolio (including hotels)
26.1% of commercial waste - Hong Kong (projects under development)
99.7% of demolition waste for 269 Queen’s Road East
- Chinese Mainland (projects under development)
To be reported after the completion of new projects under development in the Chinese Mainland
Waste recycling rate:
- Chinese Mainland portfolio (including hotels)
45.7% of commercial waste
Water Reduction
2025 KPI
- Reduction of water intensity:
Hong Kong portfolio19 (m3/m2)
10%
Chinese Mainland portfolio19 (m3/m2)
20%
Hotels20 (m3/guest night)
8%
Progress Updates in 2023
- Reduction of water intensity:
Hong Kong portfolio (m3/m2)
9.4%
Chinese Mainland portfolio (m3/m2)
26.8%
Hotels (m3/guest night)
3.5%
Integration
2025 KPI
- Conduct biodiversity surveys in 50% of new development projects
- Implement guidelines to integrate biodiversity considerations into new developments
Progress Updates in 2023
- In partnership with the University of Hong Kong, completed the development of the biodiversity guidelines for Hong Kong. The guideline aims to define the importance of biodiversity and the Company’s approach to protecting it across our developments. It includes examples and checklists that will help project teams and management offices with ways to enhance biodiversity in our properties and new projects.
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 2023
- For common areas, approximately 90% 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.
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 2023
- 100% of projects under development achieved the highest ratings.
- 92% of wholly-owned existing developments achieved the highest ratings.
Hong Kong portfolio
- Fourteen commercial buildings achieved Final Platinum rating under BEAM Plus Existing Building Version 2.0.
- Taikoo Place received a final Gold rating under LEED v4.1 for Cities and Communities: Existing.
- Two Taikoo Place achieved Platinum under WELL Version 1 Core.
- One Taikoo Place achieved Platinum under WELL Version 2 Core.
- One, Two and Three Pacific Place achieved Platinum under LEED v4.1 for Building Operations and Maintenance: Existing Buildings.
Chinese Mainland portfolio
- HKRI Taikoo Hui, INDIGO and Taikoo Li Chengdu achieved Platinum under LEED v4.1 for Building Operations and Maintenance: Existing Buildings.
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