2022-08-12
Hongkong Land’s 1.5°C Aligned Science-based Targets Approved
Hongkong Land is pleased to announce that its 1.5°C aligned near-term science-based targets (SBTs) to reduce greenhouse gas emissions have been approved by the Science Based Targets initiative recently.
The approved near-term SBTs aim to limit global warming by 1.5°C, and are applied to Hongkong Land’s operations across the region. These targets include a 46.2% reduction of absolute Scope 1 and 2 GHG emissions by 2030 from 2019 levels, and a 22% per square metre reduction of carbon intensity for Scope 3 GHG emissions from purchased goods and services and capital goods over the same period.
93% of Hongkong Land’s leasing portfolio (by floor area) across the region has achieved the second highest or above ratings for green building certification. This includes all its commercial buildings in Hong Kong and Singapore, which have the highest ratings of BEAM Plus Platinum (Existing Buildings Comprehensive Scheme) and Green Mark Platinum certifications. Hongkong Land reinvests approximately US$50 million annually in retrofitting its Central Portfolio in Hong Kong to drive energy efficiencies, reduce wastage and improve the use of renewable energy generation onsite.
The approved near-term SBTs aim to limit global warming by 1.5°C, and are applied to Hongkong Land’s operations across the region. These targets include a 46.2% reduction of absolute Scope 1 and 2 GHG emissions by 2030 from 2019 levels, and a 22% per square metre reduction of carbon intensity for Scope 3 GHG emissions from purchased goods and services and capital goods over the same period.
93% of Hongkong Land’s leasing portfolio (by floor area) across the region has achieved the second highest or above ratings for green building certification. This includes all its commercial buildings in Hong Kong and Singapore, which have the highest ratings of BEAM Plus Platinum (Existing Buildings Comprehensive Scheme) and Green Mark Platinum certifications. Hongkong Land reinvests approximately US$50 million annually in retrofitting its Central Portfolio in Hong Kong to drive energy efficiencies, reduce wastage and improve the use of renewable energy generation onsite.
Mr Robert WONG, Chief Executive of Hongkong Land, said, “We are proud to join an existing group of 12 real estate sector leaders across Asia that have aligned their decarbonisation efforts to the 1.5°C pathway. We look forward to working with our stakeholders, including those in the property development value chain to deliver on the Group’s commitments in the years ahead.”
In line with its Sustainability Framework 2030, Hongkong Land’s approach to addressing climate change is through integrating climate risk mitigation measures into its strategic planning and activities. Click here to learn more about Hongkong Land’s actions to build climate resilience across Asia.