2023-09-28
Nan Fung Group Launches Its First Sustainability Report
With a long-term vision of building a sustainable and resilient community, the Group has grown from its humble textile roots in Hong Kong into an ever-evolving conglomerate with a solid global presence. Even with a rich history of 69 years, the launch of the SEWIT report stands as a significant milestone for the Group, as it showcases the Group’s commitment, collective efforts and performance in realising its sustainability framework – SEWIT.
Moving ahead, Nan Fung Group will continue to publish sustainability reports regularly to keep its stakeholders informed of its sustainability commitments, progress and achievements as it expands the reach of the SEWIT framework. The Group aspires to join hands with the wider community to pioneer a sustainable and intergenerational future.
Welcome to read the report and share your feedback with Nan Fung Group at SEWIT@nanfung.com.
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Executive Summary
Nan Fung Group’s Commitment to Sustainability
Guided by the Group’s long-term vision of building cohesive, sustainable and resilient communities, Nan Fung Group established its sustainability framework, “SEWIT”, in 2022.
The SEWIT framework encompasses five strategic pillars - Social Cohesion, Environment, Wellness, Innovation and Technology, acting as a manifestation of the Group’s core values and pioneering role as a corporate.
Nan Fung Group fosters a sustainable, resilient and cohesive community by understanding the material issues of its stakeholders.
In 2022, the Group conducted a location-based materiality assessment involving 1,000+ stakeholders for AIRSIDE at Kai Tak and its vicinity in Hong Kong, identifying material social topics in the area.
The Group also integrated the “Theory-of-Change” framework for programme curation and accelerated the use of impact measurement tools to create, measure and maximise positive impact for all parties.
Environment
Nan Fung Group recognises climate-related risks as emerging risks that affect its long-term business success. The Group’s strategy in environmental stewardship focuses on creating positive environmental impacts.
In 2022, the Group’s property portfolio in Hong Kong committed to the Science-Based Targets initiative.
The Group has also published its first Climate-Related Financial Disclosures, as per the recommendations set out by the Task Force on Climate-Related Financial Disclosures and conducted the first Group-wide net-zero training to continuously build sustainability capability.
Wellness
Nan Fung Group cares for the well-being of its stakeholders, including employees, customers, suppliers and neighbours with whom the Group shares the communities.
The Group’s achievements include:
• Recording a Lost-time Injury Rate of 0.85 – ensuring occupational health and safety remains a top priority.
• AIRSIDE in Hong Kong achieving WELL Platinum certification, and the C8 project in Mainland China obtaining WELL Gold certification.
• Nan Fung Life Sciences investee, Arctic Vision, revolutionising eye care with groundbreaking solutions for eye diseases and bringing wellness through life sciences innovations.
Innovation
Nan Fung Group fosters an environment of co-creation and intrapreneurship, continuously seeking new knowledge to inspire meaningful disruptions.
The Group focuses on cultivating an intrapreneurial environment, investing in life sciences innovation and enhancing its positioning through innovating its business streams.
The Group’s achievements include:
• Over 240 ideas generated from internal and external incubation competitions.
• Over US$1 billion invested in over 60 companies and 30 funds by Nan Fung Life Sciences and Pivotal.
• The Mills Fabrica’s investment in and/ or incubation of a total of 7 funds and over 20 start-ups since 2018.
• The launch of NF Touch and Net Positive Lease to engage and empower tenants, their employees and the community in achieving sustainability goals.
Technology
Nan Fung Group harnesses the power of technology to convert knowledge into applications and create ideal products and solutions to benefit mankind.
AIRSIDE in Hong Kong exemplifies the Group’s adoption of innovative and sustainable technologies. The Group’s achievements include:
• One of the largest office-building PV Farms and Walkable PV in Hong Kong.
• Automatic Refuse Collection System with a weighing system and recycling capabilities.
• Nurturing biodiversity through a biofiltration system, using recycled greywater for irrigation in an artificial wetland.
In addition to smart facility solutions, in early 2023, the Group established a new global property research and analytics arm to leverage artificial intelligence and machine learning for refining and enhancing data-informed decision-making for the Group.
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