This year, we partnered with Kadoorie Farm and Botanic Garden (“KFBG”) to conduct a one-year biodiversity baseline study, documenting the biodiversity and conservation value of our four portfolios in Hong Kong – Citygate, Cityplaza, Pacific Place and Taikoo Place – through several seasonal biodiversity surveys: an annual floral survey and quarterly faunal surveys.

Excitingly, two species of global conservation value were documented during the autumn and winter surveys: the globally critically endangered. Yellow-crested cockatoo at Pacific Place and the globally vulnerable Collared crow at Taikoo Place, indicating that the green areas of these two sites are regularly visited by these bird species.

The winter survey also recorded two uncommon migratory birds: the Orange-headed thrush at Taikoo Place and the Dark-sided flycatcher at Citygate. The Orange-headed thrush mainly lives in closed-canopy forests and mature shrublands and is considered a species of local concern in Hong Kong. According to the report, “Its occurrence in the newly built Taikoo Square garden is of conservation importance, suggesting that this garden, designed to mimic natural vegetation, has already attracted different wildlife and could serve as a stopover site for rare migratory birds.”

At our sites, we observed the breeding behaviours of various bird and butterfly species, including the presence of occupied nests and fledged young. Notably, during the evening sessions, we detected more Spotted Doves sleeping in the trees than the total count observed during the daytime sessions at Taikoo Place and Cityplaza during the summer survey.

The new water features at Taikoo Square seen being utilised by many birds. The birds were observed either drinking or bathing at the shallow part of the ponds.

Two species of winter migratory birds were observed during the winter survey, the Yellow-browed Warbler at Pacific Place and the White Wagtail at Taikoo Place and Citygate, suggesting these sites serve as overwintering grounds for seasonal visitors.

More surveys will be conducted in early 2025 before the baseline study is finalised. Recommendations will be made on measures that would help enhancing biodiversity over time for consideration.

The Taskforce on Nature-related Financial Disclosures (“TNFD”) was established in 2021 in response to the growing need to factor nature into financial and business decisions. The TNFD is a global market-led initiative with a mission to develop and deliver a risk management and disclosure framework for organisations to report and act on evolving nature-related risks and opportunities, with the ultimate aim of supporting a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes, which is aligned with the goals of the United Nations’ Kunming-Montreal Global Biodiversity Framework.

Swire Properties is one of 40 TNFD Global Taskforce members, the only Hong Kong representative on the Taskforce, which provides strategic direction to the TNFD Secretariat regarding the development, consultation and dissemination of the TNFD framework. We are also involved in the initiative’s Infrastructure and Real Estate Working Group and the Supply Chain Working Group, helping to formulate the overall framework and contributing to collective nature-positive goals. Swire Properties is one of over 500 global companies that joined the inaugural TNFD Early Adopter programme, and we have committed to publish our TNFD-aligned disclosures in Climate- and Nature-related Financial Disclosures. We began publishing our nature-related impacts, dependencies, risks and opportunities based on the TNFD framework in our Sustainability Report 2023.

As a Taskforce Member, we endeavour to promote the TNFD framework to the local business sector.

In April, we partnered with the TNFD to officially launch its framework in Hong Kong, encouraging corporates and financial institutions to disclose and manage their nature-related risk and opportunities. The Hong Kong launch event brought together the Hong Kong TNFD Early Adopters and more than 150 representatives from the government, regulators, financial institutions, businesses, academic sectors and NGOs. The guest of honour was Salina Yan, JP, Permanent Secretary for Financial Services and the Treasury (Financial Services), HKSAR Government; while supporting organisations included the Business Environment Council, Hong Kong Exchanges and Clearing Limited (“HKEX”) and the Hong Kong Green Finance Association. The event also included a panel discussion that offered insights on how different sectors can collectively, via the TNFD recommendations, contribute to a nature-positive future.

Swire Properties was privileged to contribute to the development of the sector-specific guidance for Engineering, construction and real estate, as well as Construction materials, driving positive action and corporate disclosure in the built environment for nature and biodiversity.

This sector guidance will empower organisations to effectively apply the TNFD LEAP approach – incorporating sector-specific considerations, and providing additional sector disclosure indicators and metrics.