2022-12-13
Swire Properties - Accelerating Actions Towards Net Zero
Swire Properties recognises that climate change poses significant risks and also presents significant opportunities to its business, and therefore the company is firmly committed to reducing climate impacts and optimising resource efficiency throughout its operations.
During COP27, Swire Properties shared a thought leadership article on its journey towards net zero as part of the #BuildingToCOP27 campaign initiated by the World Green Building Council.
During COP27, Swire Properties shared a thought leadership article on its journey towards net zero as part of the #BuildingToCOP27 campaign initiated by the World Green Building Council.
Swire Properties’ Chief Executive Tim BLACKBURN shared, through a short video, his net-zero vision and reveals what motivates him
to drive the company’s sustainability journey to new heights.
In December 2020, Swire Properties signed the Business Ambition for 1.5°C, the first real estate company in Hong Kong and the Chinese Mainland to pledge support to the commitment. To achieve the ambitious vision, Swire Properties has ramped up its science-based targets to the more stringent 1.5°C pathway, which were approved by Science Based Targets initiative (“SBTi”) in September 2021. The 1.5°C-aligned SBT will ensure achievement of its near-term deep decarbonisation targets that align with the Paris Agreement goals and sets the Company to advance to net-zero emissions by 2050.
In 2021, Swire Properties’ scope 1 and scope 2 absolute carbon emissions continued to show a downward trend, reducing 23% of absolute Scope 1 and 2 carbon emissions (compared to 2019 baseline) and 35% in carbon intensity for tenants’ operations (compared to 2018 baseline). The progress reflects its decarbonisation initiatives adopted across the whole building including both landlord and tenant areas.
Two Taikoo Place, one of Swire Properties’ latest major developments in Hong Kong, considers both embodied carbon and operational carbon in various development stages, including
Two Taikoo Place, one of Swire Properties’ latest major developments in Hong Kong, considers both embodied carbon and operational carbon in various development stages, including
- Incorporation of passive design such as vertical solar fins and utilisation of ultra-high performance glass to maximise the use of daylight, achieving better energy efficiency and taking care of occupant wellbeing.
- Adoption of IoT technology for the operational phase to optimise building energy use using artificial intelligence, detecting system faults, and performing predictive maintenance. Annual energy savings associated with the installation of main active and passive equipment exceeds BEAM Plus1 and LEED2 baseline performance by 27%.
- Work closely with building contractors in green material procurement such as low-carbon concrete, rebar with high recycled content and FSC-certified timber.
- During building construction, Swire Properties has adopted Building Information Modelling (BIM) models to facilitate the use of prefabricated structural steel and modularised E&M elements to reduce material wastage. Its construction site is also powered with compact container-sized battery systems to replace conventional diesel generators, reducing over 80% of carbon emissions on-site.
- Bio-diesel driven tri-generation plant, PV panels and a wind turbine installed at Two Taikoo Place is expected to generate renewable electricity contributing to 6% of the building’s energy use.
1 Based on Building Energy Code 2015 Edition as baseline
2 Based on ASHRAE 90.1-2007 as baseline (LEED 2009 for Core and Shell Development)