2022-02-28
Chinachem Group’s Science-Based Targets Approved, Committing to Limit Global Warming to 1.5°C
To tackle climate change and respond to the Hong Kong government's commitment to carbon neutrality, Chinachem Group has formulated a series of long-term decarbonisation strategies, covering its managed and operated premises and buildings. The Group has also committed to the goal of limiting global warming to 1.5°C. In January 2022, the Group's science-based targets (SBTs) were officially approved by the Science Based Targets initiative (SBTi). It has become Hong Kong’s second real estate developer to have completed SBTi validation.
The Group is committed to reducing Scope 1 and 2 operational GHG emissions by 51.8% by 2030 from a 2020 base year, while reducing Scope 3 GHG emissions from downstream leased assets, capital goods and waste generated in operations by 20% within the same timeframe.
The Group is committed to reducing Scope 1 and 2 operational GHG emissions by 51.8% by 2030 from a 2020 base year, while reducing Scope 3 GHG emissions from downstream leased assets, capital goods and waste generated in operations by 20% within the same timeframe.
Moving forward, Chinachem Group will implement a further range of measures to reduce carbon emissions, including replacing air-conditioning systems and implementing retro-commissioning for its properties; adopting renewable energy in its operations; encouraging tenants to practise energy conservation; driving sustainable procurement; and strengthening waste management and recycling. The Group has formed an ESG Steering Committee led by the CEO to incorporate sustainability considerations into all business decision-making processes. A cross-department ESG Task Force has also been established to implement and monitor relevant policies and programmes.
Chinachem Group sets achieving sustainable development and creating shared value for people, prosperity and the planet as its long-term goal. Construction-related activities can have a significant impact on the environment. To help make Hong Kong a more liveable city, the Group has been ramping up its efforts to promote sustainability in the real estate sector. Recognition by SBTi has bolstered its confidence in achieving “Carbon Reduction Roadmap – CCG 3050+” to cut the Group’s carbon emissions by 51.8% in 2030, as compared with the base year of 2020.
Click here to learn more about sustainability initiatives of Chinachem Group.
Chinachem Group sets achieving sustainable development and creating shared value for people, prosperity and the planet as its long-term goal. Construction-related activities can have a significant impact on the environment. To help make Hong Kong a more liveable city, the Group has been ramping up its efforts to promote sustainability in the real estate sector. Recognition by SBTi has bolstered its confidence in achieving “Carbon Reduction Roadmap – CCG 3050+” to cut the Group’s carbon emissions by 51.8% in 2030, as compared with the base year of 2020.
Click here to learn more about sustainability initiatives of Chinachem Group.