Progress Achieved Through Group’s Comprehensive Ecosystem Involving Tenants, Suppliers, Contractors, and More
- Reduced Scope 1 and 2 carbon emissions by 29% against a 2019 baseline, over the halfway line of the 2030 science-based carbon reduction target
- 94% of Hongkong Land’s wholly-owned leasing portfolio across Asia has achieved green building certification.
- Qualified as a constituent of the Dow Jones Sustainability Asia Pacific Index for the second consecutive year, ranking in the top 15% of the global real estate industry.
- Invested close to HK$110 million for Hongkong Land HOME FUND community engagement programme, benefiting over 240,000 individuals by the end of 2023
HONG KONG SAR – Media OutReach Newswire – 29 May 2024 – Hongkong Land has achieved significant improvements in its sustainability performance by building a holistic ecosystem emphasising collaboration with tenants, suppliers, contractors, and other stakeholders. By focusing on the full lifecycle of the building, Hongkong Land is significantly reducing its carbon footprint while improving other sustainability metrics.
Thriving Together: Collaborating with Tenants and Customers
Hongkong Land recognises the pivotal role of collaboration with tenants and customers in driving sustainable change and in 2023, developed the Tenant Sustainability Partnership Programme (TSPP). This unique to market programme aims to foster environmental and social initiatives, rewarding participants for achieving sustainability benchmarks while cultivating a culture of sustainability within the tenant community. Through the TSPP, Hongkong Land strives to create a collective impact by engaging tenants in sustainable practices and initiatives. Hongkong Land also launched and collaborated with tenants on the WOMEN in CENTRAL initiative, organising a series of engaging conversations and events, welcoming over 300 participants in 2023.
In addition, Hongkong Land, in collaboration with retail tenants at LANDMARK, proudly introduced the “Sustainable Shopping Rewards” programme. This groundbreaking initiative encouraged retail shoppers to make sustainable product purchases, facilitated meaningful dialogue between luxury brands and customers, and promoted awareness and action on sustainable consumption.
Building Resilient Communities: Empowering Through Engagement
Beyond carbon reduction, Hongkong Land’s commitment to sustainability extends to initiatives such as the Hongkong Land HOME FUND community programme, which has invested close to HK$110 million, benefiting over 240,000 individuals by December 2023. This initiative has expanded its partnerships with NGOs from three to over 100, resulting in a profound positive impact on communities. The HOME FUND community engagement initiative plays a vital role in promoting social inclusion for our community
In 2023, HOME FUND invested in 18 long-term projects, addressing a wide range of social issues relating to youth and substandard housing, increasing the number of NGO partners from 86 to 104. Hongkong Land volunteers dedicated a total of 17,114 hours of their time, with the participation rate skyrocketing from 22% to an inspiring 64%. The introduction of the Christmas Trees of Hope fundraising programme successfully raised over HK$1.44 million, demonstrating the unwavering commitment of tenants and business partners to support the local community.
Recognition and Ratings: Showcasing Leadership and Excellence
Hongkong Land’s collaborative approach has garnered recognition from esteemed third-party organisations, showcasing the success of its sustainability efforts.
Since Hongkong Land’s ambitious science-based targets were validated by the Science Based Targets initiative (SBTi) in 2022, Hongkong Land has made significant progress in its sustainability efforts, with Scope 1 and 2 GHG emissions reduced by 29% compared to the 2019 baseline. In addition, Hongkong Land has developed bespoke embodied carbon tools that take a suppliers-based approach tailored to supply chains across the region. These tools are being integrated into the design, tendering, and construction stages of the company’s projects, ensuring that sustainability considerations are embedded throughout the entire lifecycle of the buildings.
Notably, the central portfolio buildings in Hong Kong have achieved the prestigious LEED for Existing Buildings: Operations & Maintenance (LEED EBOM) Platinum ranking, awarded by the U.S. Green Building Council. The Group has also been recognised by major international ESG ratings, including qualifying as a constituent of the Dow Jones Sustainability Asia Pacific Index, and attaining Global Sector Leader status in the Global Real Estate Sustainability Benchmark (GRESB). Moreover, Hongkong Land’s unwavering commitment to sustainability has been acknowledged within the top 15% of the global real estate industry, as highlighted in the S&P Global Sustainability Yearbook 2024.
Driving Sustainable Transformation Through Collaborative Innovation
Hongkong Land reiterates its commitment to sustainability and collaborative innovation for environmental and social progress. The Group remains dedicated to data-driven decision-making and continuous improvement as fundamental pillars of its sustainability efforts. By harnessing the power of collaboration with tenants and customers, Hongkong Land is poised to create a transformative and enduring impact, leading the way towards a more sustainable future. For comprehensive details on Hongkong Land’s sustainability performance, kindly access the full Sustainability Performance Report 2023.
About Hongkong Land
Hongkong Land is a major listed property investment, management and development group. Founded in 1889, Hongkong Land’s business is built on excellence, integrity and partnership.
The Group owns and manages more than 850,000 sq. m. of prime office and luxury retail assets in key Asian cities, principally Hong Kong, Singapore, Beijing and Jakarta. Its properties hold industry leading green building certifications and attract the world’s foremost companies and luxury brands.
The Group’s Central Hong Kong portfolio represents some 450,000 sq. m. of prime property. It has a further 165,000 sq. m. of prestigious office space in Singapore mainly held through joint ventures, five retail centres on the Chinese mainland, including a luxury retail centre at Wangfujing in Beijing, and a 50% interest in a leading office complex in Central Jakarta. The Group also has a number of high-quality residential, commercial and mixed-use projects under development in cities across China and Southeast Asia, including a 43% interest in a 1.1 million sq. m. mixed-use project in West Bund, Shanghai. Its subsidiary, MCL Land, is a well-established residential developer in Singapore.
Hongkong Land Holdings Limited is incorporated in Bermuda and has a primary listing in the standard segment of the London Stock Exchange, with secondary listings in Bermuda and Singapore. The Group’s assets and investments are managed from Hong Kong by Hongkong Land Limited. Hongkong Land is a member of the Jardine Matheson Group.
