2024 Progress
2024 Progress
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 2024 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%16,17
Progress Updates in 2024
- Reduction in Scope 1 and 2 absolute GHG emissions:
40%
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 metre18
- 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)19
Progress Updates in 2024
- Reduction in carbon intensity from the tenant-controlled portion of downstream leased assets:
54%
- Reduction in embodied carbon intensity from new major developments:
18%
Energy Reduction
2025 KPI
- Reduction of electricity use intensity (kWh/m2)20:
Hong Kong Portfolio21
20%22
Chinese Mainland Portfolio23
13%22
Progress Updates in 2024
- Reduction of electricity use intensity (kWh/m2):
Hong Kong Portfolio
19%
Chinese Mainland Portfolio
9%
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 2024
- Expect approximately 6% of landlord's building energy supplied by renewable sources at Two Taikoo Place.
- In 2024, INDIGO and Taikoo Li Sanlitun procured nearly 100% renewable electricity for both tenant and landlord operations. Meanwhile, Taikoo Hui Guangzhou and Taikoo Li Chengdu continued to secure 100% renewable electricity.
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 waste24
Waste recycling rate:
- Chinese Mainland Portfolio (including hotels)
40% of commercial waste
Progress Updates in 2024
Waste diversion rates from landfills:
- Hong Kong Portfolio (including hotels)
28% of commercial waste - Hong Kong (projects under development)
98% of demolition waste for Zung Fu Industrial Building
80% of construction waste for Six Pacific Place - 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% of commercial waste
Water Reduction
2025 KPI
- Reduction of water intensity:
Hong Kong Portfolio25 (m3/m2)
10%
Chinese Mainland Portfolio25 (m3/m2)
20%
Hotels26 (m3/guest night)
8%
Progress Updates in 2024
- Reduction of water intensity:
Hong Kong Portfolio (m3/m2)
14%
Chinese Mainland Portfolio (m3/m2)
23%
Hotels (m3/guest night)
11%
Integration
2025 KPI
- Conduct biodiversity surveys in 50% of new development projects
- Implement guidelines to integrate biodiversity considerations into new developments
Progress Updates in 2024
- Conducted biodiversity survey for Taikoo Li Xi'an and Taikoo Li Sanya27.
- Conducted a one-year biodiversity baseline study, documenting the biodiversity and conservation value of four properties in Hong Kong – Citygate, Cityplaza, Pacific Place and Taikoo Place.
- Completed the development of biodiversity guidelines for implementation in Hong Kong and the Chinese Mainland portfolio.
Indoor Air Quality (“IAQ”) Management
2025 KPI
- For common areas, 90% of buildings achieve IAQ Excellent Class in our Hong Kong portfolio28 or fulfil the local IAQ standard in our Chinese Mainland portfolio29
Progress Updates in 2024
- For common areas, approximately 99% of buildings in our Hong Kong portfolio achieved IAQ Excellent Class.
- Approximately 100% of buildings in our Chinese Mainland portfolio fulfilled the local IAQ standard.
Environmental Building Assessment Schemes30
2025 KPI
- 100% of wholly-owned new development projects31 to achieve the highest environmental building assessment scheme rating
- 90% of all wholly-owned existing developments31 to achieve the highest environmental building assessment scheme rating
Progress Updates in 2024
- 100% of projects under development achieved the highest ratings.
- 93% of wholly-owned existing developments achieved the highest ratings.
- Please refer to the Summary of Green Building Certification.