2022-05-25

Hang Lung Properties Limited Published Sustainability Report 2021 - Advancing Sustainability Agenda to Achieve Sustainability Leadership


 
Hang Lung Properties Limited published its online Sustainability Report 2021, the 10th Sustainability Report published by the Company. 
 
Notable highlights from the Report include:
 

 
  • The development of 25 sustainability targets to be achieved by the end of 2025 ("25 x 25 Sustainability Targets" or "25 x 25"); 
  • Disclosing 28 Strategic Environmental, Social, and Governance Key Performance Indicators ("Strategic ESG KPIs") to be achieved in 2022 towards its 25 x 25 Sustainability Targets;
  • Becoming one of the first real estate companies in Asia to commit to setting both near- and long-term targets to reach net-zero value chain greenhouse gas (GHG) emissions in alignment with Science-Based Target initiative's Net Zero Standard;
 

 
  • The completion of a 100% renewable energy transaction at Spring City 66, Kunming, now the Company's first development, and the first commercial complex in Yunnan Province, to achieve net-zero carbon emissions in annual electricity consumption for both landlord and tenant operations;
  • The launching of initiatives worth HK$27 million in support of Hong Kong's COVID-19 vaccination drive.
Other highlights under Hang Lung Properties' four sustainability priorities in 2021 include:

Climate Resilience
  • For its Scope 1 and 2 emissions: Achieved a cumulative 28.9% GHG emission intensity reduction compared to the Company's 2018 baseline;
  • For its Scope 3 emissions: The first calculation of Scope 3 emissions, and the formulation of reduction initiatives and targets (for embodied carbon and tenants' emissions);
  • Detailed mapping of the Company's approach to addressing climate-related issues in support of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Resource Management
  • Electricity intensity in 2021 was 10.7% below the Company's 2018 baseline;
  • Reviewed water consumption practices across its portfolio, and set a 10% water intensity reduction target for 2025;
  • Upcycled or reused about 24 tons of frontline staff uniforms.

Wellbeing
  • Conducted the Company's first comprehensive, third-party employee engagement survey with a 97.4% participation rate;
  • Applied for the WELL Health and Safety Rating for 19 buildings covering all Mainland properties and the Standard Chartered Bank Building in Hong Kong;
 

 
  • Over 1,800 volunteers completed 138 volunteering activities and contributed more than 14,500 service hours despite the pandemic.

Sustainable Transactions
  • Secured 30% of debt and available facilities from green bonds, green loan facilities, and sustainability-linked loan facilities;
  • Developed a sustainable procurement strategy for the Company's existing operations, and defined 16 ideas to improve sustainability in the Company's projects under development;
  • Collaborated with tenants on multiple community sustainability initiatives, and introduced amendments to tenant and fitout guides to incorporate more sustainability provisions. 
 

For details, please check out Hang Lung Properties Sustainability Report 2021:
https://www.hanglung.com/en-us/media-center/publications/sustainability