2025-05-13
Hang Lung Properties Presents Two Key Sustainability Publications
Hang Lung Properties recently published two publications – the Sustainability Report 2024 and a groundbreaking discussion paper titled “Our Journey to Net Zero: Scenarios and Actions to Reduce Greenhouse Gas Emissions by 2050”. These documents highlight the Company’s commitment to sustainability and leadership in advancing industry discussions on decarbonisation, showcasing its efforts to become one of the world’s most sustainable real estate companies.
Sustainability Report 2024
The latest Sustainability Report focuses on Hang Lung’s initiatives in four priorities: climate resilience, resource management, wellbeing, and sustainable transactions. It provides a transparent view of the Company's progress towards sustainability goals.
Key Sustainability Achievements and Initiatives in 2024 include:
- Climate Resilience
- Scope 1 and 2: 51% reduction in greenhouse gas (GHG) emissions intensity vs 2018 baseline
- Scope 3: Adoption of low carbon emissions steel in development projects to reduce embodied carbon emissions
- 48% of electricity demand at mainland China portfolio met by renewable energy
- Scope 3: Adoption of low carbon emissions steel in development projects to reduce embodied carbon emissions
- 48% of electricity demand at mainland China portfolio met by renewable energy
- 90% of Hong Kong and Mainland properties and projects completed climate adaptation technical analysis
- Resource Management
- 19% reduction in electricity intensity in 2024 as compared to 2018
- 12% reduction in water intensity in 2024 as compared to 2018
- 62% waste diversion rate in 2024
- 12% reduction in water intensity in 2024 as compared to 2018
- 62% waste diversion rate in 2024
- Wellbeing
- Increased the Employee Engagement Survey percentile rank in the Gallup Overall Database from 74th to 79th
- Delivered over 130,000 hours of training, of which 45,375 hours involved sustainability topics
- The Hang Lung As One volunteer team contributed more than 68,900 volunteering hours, benefiting over 30,800 people in Hong Kong and mainland China
- Delivered over 130,000 hours of training, of which 45,375 hours involved sustainability topics
- The Hang Lung As One volunteer team contributed more than 68,900 volunteering hours, benefiting over 30,800 people in Hong Kong and mainland China
- Sustainable Transaction
- Secured 60% of total debts and available facilities from sustainable financing
- Over 80% of overall construction floor area is certified as green buildings
- Nearly 80% of total construction floor area has either been certified with or has applied for WELL or WELL Health-Safety Rating
- Partnered with 49 tenants representing 11% of total leasable area on sustainability initiatives
- Over 80% of overall construction floor area is certified as green buildings
- Nearly 80% of total construction floor area has either been certified with or has applied for WELL or WELL Health-Safety Rating
- Partnered with 49 tenants representing 11% of total leasable area on sustainability initiatives
Our Journey to Net Zero: Scenarios and Actions to Reduce Greenhouse Gas Emissions by 2050
The paper presents an innovative, in-depth analysis of Hang Lung’s potential journey to net zero as a model for the real estate sector. Drawing on a decarbonisation model with more than 1,000 inputs, it discusses scenarios for the company to reduce its greenhouse gas emissions from 1,000,000 tonnes in 2023 to fewer than 100,000 in 2050 through eight key actions, such as boosting energy efficiency, expanding renewable energy, and pioneering low-carbon materials.
Mr Adriel CHAN, Chair of Hang Lung Properties and Chair of the Sustainability Steering Committee, emphasises, “The real estate sector must form a long-term vision together”. The paper calls for greater transparency and improved benchmarks to drive real estate decarbonisation, demonstrating the Company’s commitment to net zero emissions.
