Resource and Circularity
GRI 306
HKEX Aspect A1, A2, A3, KPI A1.6, A3.1
HKEX Aspect A1, A2, A3, KPI A1.6, A3.1
Resource and Circularity
GRI 306
HKEX Aspect A1, A2, A3, KPI A1.6, A3.1
HKEX Aspect A1, A2, A3, KPI A1.6, A3.1
Swire Properties is committed to supporting the transition to a circular economy by reducing and managing waste effectively and promoting circularity across our operations. We aim to identify the impacts of waste disposal from our business activities, set targets to continually improve our waste management performance and incorporate waste prevention considerations into our procurement processes.
Focusing on Resource Management and Circularity
We developed our Waste Management Policy to guide our approaches to reducing waste, from the design and construction phases of our projects to the daily operation and management of our buildings. Since 2021, our updated Resource and Circularity Policy highlights the value of rethinking resource use and promoting circularity, putting greater emphasis on “designing out” waste and keeping products in use while continuing to enhance resource recovery and recycling across our operations.
Reframing waste in the context of resource use and management encourages our employees, tenants, suppliers and others with whom we do business to engage with the topic with greater positivity and creativity before resources are consumed. This approach supports our transition to a circular economy and our goal to achieve zero waste to landfill by 2050. The emphasis on circularity will also help prepare the Company and our tenants for upcoming waste-related legislation, including compulsory garbage sorting legislation that has been introduced in major Chinese Mainland cities, and the regulation on single-use plastics in Hong Kong.
Our Resource and Circularity Taskforces in Hong Kong and the Chinese Mainland – made up of representatives from our FMSD, building management, portfolio management and hotel teams – meet regularly to evaluate our resource management strategies, analyse waste data, review progress towards our 2025 and 2030 KPIs and facilitate new circularity initiatives.
Waste Diversion Rates
We track and collect data on more than 20 types of waste produced by our office and retail tenants, hotel guests and occupants of our residences. We strive to manage the downstream processes of each waste stream and work closely with our recycling partners to provide secure outlets for the recyclables we collect.
Commercial Waste Diversion Rate
28%
Hong Kong Portfolio
Commercial Waste Recycling Rate
45%
Chinese Mainland Portfolio
Total Amount of Waste Recycled
4,051tonnes
Hong Kong Portfolio
9,829tonnes
Chinese Mainland Portfolio
Ramping up Waste Recycling Efforts
Ramping up Waste Recycling Efforts
We continued working with our hotels, restaurants and tenants to deepen our waste reduction and recycling efforts through efforts to enhance tenants’ waste management practice and enhance recyclables collection.
Expanding Our Smart Reuse Programmes to Support the Circular Economy
Expanding Our Smart Reuse Programmes to Support the Circular Economy
To minimise waste generation and cultivate a reuse culture, we continue to scale up programmes that encourage reusable options for F&B outlets. In 2024, we expanded the programme to include reusable food containers in Taikoo Place.
Digitalising the Waste Reduction Journey
Digitalising the Waste Reduction Journey
Over 90% of the waste generated at our buildings comes from building users, primarily our tenants. While waste measurement conventionally involves manual weighing and recording, we are embracing technologies that digitalise the waste data collection process in pursuit of continuous improvements. In 2024, we continued to expand our smart waste programmes in Hong Kong, while we began to record tenants’ waste at HKRI Taikoo Hui, INDIGO and Taikoo Hui Guangzhou.
In Hong Kong we made smart waste monitoring solutions available to all our office tenants in 2024, through the Smart Waste Reduction Challenge and our Smart Mobile Scale Programme. In 2024, 23 office tenants and Swire Properties’ offices across Taikoo Place, Pacific Place, Citygate Outlets joined in the Smart Waste Reduction Challenge, engaging more than 4,100 employees. Through the Challenge, participating tenants:
- Receive recommendations about how to optimise the design and layout of their office waste bins.
- Replace individual desk-side rubbish bins with centralised collection and sorting stations.
- Fit smart scales under each bin to collect live waste disposal and recycling data.
- Set up display screens to showcase their waste-reduction progress in real time and benchmark this progress.
- Monitor the waste contamination levels of their office bins using a waste assessment form.
As of December 2024, 63 GPP tenants in Taikoo Place, Pacific Place and Citygate had their office waste monitored through our programmes, covering 44% of tenants participating in the Green Performance Pledge. Waste dashboard that includes data trends and insights have also been made available to GPP tenants on the Tenant Portal. For details, please refer to Tenants section.
Reuse and Recycling of Furniture and Fittings
Reuse and Recycling of Furniture and Fittings
We continued to seek innovative ways to reduce waste from our major renovation works. In 2024, we began the demolition work of The Opposite House in Beijing, with the goal to have 75% of the building’s demolition and site clearance materials reused or recycled.
Incorporating Green Considerations in Events
Incorporating Green Considerations in Events
Events are an important part of Swire Properties’ placemaking and community-building efforts. While continuing to work towards a zero-waste event for the White Christmas Street Fair, in 2024, we also extended green event practices to our Annual Dinner and promotion events at our malls.
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