2024-04-17
Hang Lung Properties Sustainability Report 2023 Now Available
Hang Lung Properties published its online Sustainability Report 2023, to disclose information transparently to stakeholders regarding the Group’s material sustainability issues from 1 January 2023 to 31 December 2023.
Hang Lung’s sustainability framework is governed by four priorities, namely Climate Resilience, Resource Management, Wellbeing, and Sustainable Transaction. The Report focuses on the Company’s management approach to and performance of material sustainability issues over the past year.
In 2023, Hang Lung made significant progress towards its sustainability targets, and will continue to strive to become one of the world's most sustainable real estate companies.
Key Sustainability Achievements and Initiatives in 2023 include:
Climate Resilience:
Hang Lung’s sustainability framework is governed by four priorities, namely Climate Resilience, Resource Management, Wellbeing, and Sustainable Transaction. The Report focuses on the Company’s management approach to and performance of material sustainability issues over the past year.
In 2023, Hang Lung made significant progress towards its sustainability targets, and will continue to strive to become one of the world's most sustainable real estate companies.
Key Sustainability Achievements and Initiatives in 2023 include:
Climate Resilience:
- 41% reduction in Scope 1 and 2 Greenhouse Gas (GHG) emissions Intensity vs 2018 baseline; and adopted low carbon concrete and steel in development projects to reduce embodied carbon emissions
- Completed climate adaptation technical analysis for 94% of existing properties and 83% of development projects
- 18.9% of the electricity demand in mainland China powered by renewable electricity
Resource Management:
- 14% reduction in electricity intensity in 2023 as compared to 2018
- 8% reduction in water intensity in 2023 as compared to 2018
- 66% waste diversion rate in 2023
Wellbeing:
- Increased the Employee Engagement Survey percentile rank in the Gallup Overall Database from 68th to 74th
- 180 women students initiated 31 sustainable community projects, benefitting over 4,500 community members under the Hang Lung Future Women Leaders Program
- Hang Lung As One volunteer team contributed 69,891 volunteering hours, benefitting 37,495 people in Hong Kong and mainland China
Sustainable Transaction:
- Secured 55% of total debts and available facilities from sustainable financing
- Launched a program to partner with tenants on sustainability, Changemakers, in both Hong Kong and mainland China
- Over 80% of overall construction floor area is certified as green buildings, and nearly 80% has either been certified with or has applied for WELL or WELL HSR
International Recognition in 2023:
