2023-04-12

Hang Lung Properties Publishes Sustainability Report 2022


Hang Lung Properties published its online Sustainability Report at the same time as its Annual Report for the financial year ended on December 31, 2022, enabling stakeholders to have a holistic understanding of its effort and achievements in the area of sustainability. 

In 2022, Hang Lung has achieved several significant milestones in support of its mission to become one of the world's most sustainable real estate companies. 

The reports elaborate on the approach and measures the Company has adopted, and the corresponding quantitative achievements with case studies, in accordance with the four priorities governing the Company’s sustainability agenda: Climate Resilience, Resource Management, Wellbeing and Sustainable Transactions.  

Key Sustainability Achievements and Initiatives in 2022 include:

Climate Resilience:
  • Became the first real estate company in Hong Kong and mainland China to receive approval from the Science Based Targets initiative (SBTi) for its near and long-term company-wide emissions reduction targets in line with SBTi’s Net-Zero Standard
  • Procured additional renewable energy: almost 25% of the mainland China portfolio’s electricity demand will be met by renewable energy in 2023. Parc 66 in Jinan has become 100% powered by renewable energy from January 1, 2023
  • 38% reduction in GHG Emissions Intensity (Scope 1 and 2) vs 2018 baseline, and 3.8% reduction in absolute GHG Emissions (Scope 3) vs 2021
Resource Management:
  • 16.4% reduction in electricity intensity in 2022 as compared to 2018
  • 15% reduction in water intensity in 2022 as compared to 2018
  • 56% operational waste diversion rate in 2022
Wellbeing:
  • Increased the Employee Engagement Survey percentile rank in the Gallup Overall Database to 68th. Placed in the top 25% of companies with the fastest growth in the second year of the survey
  • Celebrated the 10th anniversary of the Hang Lung As One Volunteer Team. In 2022, 1,925 volunteers completed 135 volunteering activities
  • Launched the Hang Lung Future Women Leaders Program to mentor 200 female university students across the nation with partners
Sustainable Transactions:
  • Launched a new model of sustainability partnership with LVMH Group to lead climate and sustainability action in real estate and retail through the end of 2025
  • Secured 46% of total debts and available facilities from sustainable finance
  • Over 80% construction floor area (CFA) certified to LEED /BEAM Plus Gold rating or above