2025-04-09
Discover the Key Highlights of Chinachem Group Sustainability Report 2023-2024 (只提供英文版)
Chinachem Group (CCG) is pleased to announce the release of its Sustainability Report 2023-24, underscoring its steadfast commitment to sustainability throughout the reporting period. The past year has been exceptionally rewarding for CCG, with its ongoing sustainability efforts reaching new heights. CCG is proud to have achieved the highest possible 5-star rating in the Global Real Estate Sustainability Benchmark (GRESB) and to be recognised as a Global Sector Leader for 2024.
For the first time, CCG has significantly enhanced its climate-related disclosures by referencing both the IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures, issued by the International Sustainability Standards Board (ISSB), as well as the Transition Plan Taskforce (TPT) Disclosure Framework. Additionally, CCG has shared its biodiversity enhancement efforts in line with the Taskforce on Nature-related Financial Disclosures (TNFD) recommendations, demonstrating its commitment as an early adopter.
CCG also conducted a comprehensive stakeholder engagement and double materiality assessment to understand the impact and financial materiality of ESG topics from its stakeholders’ perspectives. This process not only helped CCG comprehend its impacts on environmental, economic, and social topics, but also how these topics impact CCG. By prioritising key ESG issues based on stakeholder feedback, it gathered valuable insights that inform its sustainability strategy and decision-making.
CCG’s commitment to making a positive impact on the communities it serves remains unwavering. With this overarching vision, it has made significant strides during the reporting period. The key achievements include:
Protecting Our Planet
- Building Climate Resilience – CCG conducted a comprehensive climate-related physical risk assessment and scenario analysis for its existing buildings and new construction sites. A detailed Value at Risk (VaR) assessment quantified the potential financial impacts of identified physical climate hazards, indicating minimal financial exposure across all scenarios and timeframes.
- Committing to Biodiversity Enhancement – CCG has embarked on its first TNFD study, adopting the LEAP approach, demonstrating its commitment as an early adopter. CCG will establish short- to long-term objectives for material metrics with substantial nature-related dependencies and impacts.
- Innovating Green Building Design – New developments of CCG incorporate cutting-edge sustainable technologies, such as Modular Integrated Construction (MiC), Multi-trade Integrated Mechanical, Electrical, and Plumbing (MiMEP), and smart IoT systems. Discover the green features of its two Tung Chung projects in the Report.
- Speeding Up Green Transition – Guided by its Science Based Targets initiative (SBTi) validated decarbonisation roadmap – CCG 3050+, CCG aims to reduce Scope 1 and 2 carbon intensity by 51.8% by 2030, compared to the 2020 baseline. CCG has initiated several green projects, including replacing the chiller system at Nina Tower and other properties, and advancing renewable energy deployment. In 2023, it achieved a 25.1% carbon intensity reduction, further down from 23.0% in 2022.
- Partnering for Environmental Excellence – CCG’s Green Tenant Engagement Programme fosters collaboration with tenants to achieve sustainability objectives. Through a digital platform, its 100 tenants can record their green actions and share electricity data, competing for eco-friendly rewards and management fee rebates. The REACT Campaign extends its influence to the public, educating and inspiring over 90,000 participants on waste reduction and recycling through a series of community engagement activities.
Enabling a Prosperous Tomorrow
- Leveraging Sustainable Finance for Positive Impacts – CCG is the first real estate developer to align with both the Hong Kong Taxonomy for Sustainable Finance and the International Platform on Sustainable Finance (IPSF)’s Common Ground Taxonomy through its enhanced Sustainable Finance Framework. CCG also jointly secured Hong Kong’s first-ever HK$8.8 billion green loan for logistics centre development. As of 30 June 2024, 62% of its total financing facilities are green or sustainability-linked.
- Investing in Sustainability - CCG has updated its ESG Due Diligence Guidelines to better integrate ESG considerations into its investment decisions. This is reflected in its strategic entry into the overseas real estate market, with acquisitions like Kaleidoscope and One New Street Square in London, both showcasing exceptional design and ESG credentials.
Thriving with Our Community and People
- Fostering a Caring Community - CCG has integrated its volunteering initiatives into its CCG Hearts loyalty programme, which goes beyond traditional membership reward schemes. The CCG Hearts “Quest” feature encourages proactive participation in volunteering, allowing participants to earn points and redeem rewards while spreading joy. As of 30 June 2024, CCG, along with its 26 community partners, provided 8,243 hours of volunteer services, a ninefold increase from the previous year.
- Empowering Employees - CCG launched its new Employer Value Proposition (EVP) to create a "Space to make a transformative impact, career and life". Through stakeholder engagement and co-creation workshop, CCG’s culture now emphasises sustainability and employee empowerment.
Looking ahead, CCG is excited to continue advancing its efforts and growing sustainably alongside its stakeholders. CCG is currently in the process of setting its SBTi net-zero target aligned with the 1.5°C pathway. To achieve this ambitious goal, CCG will conduct asset condition surveys on its properties to identify maintenance needs and prioritise its asset enhancement and redevelopment plans, thereby achieving significant energy savings. CCG is committed to sharing more progress and milestones in the near future.
Share your feedback: Chinachem Group Sustainability Report 2023-2024 Feedback Survey
Officially opened in December 2023, Nina Park has attracted more than 167,800 visitors as of 30 June 2024. It is a diverse plant community of a variety of native trees, shrubs, and flowering plants with 30% green area coverage.
Achieved the highest possible 5-star rating in the Global Real Estate Sustainability Benchmark (GRESB) and to be recognised as a Global Sector Leader for 2024.