Business Daily Media

The Times Real Estate

.

Sustainability progress to 2030 delivering value for Hongkong Land

Key achievements include:

  • 33.3% reduction in Scope 1 and 2 carbon emissions against 2019 baseline, making good progress toward 2030 target.
  • 96% of Hongkong Land’s leasing portfolio has achieved the second highest or above ratings for green building certification, ahead of its 2030 target of 90%.
  • 81% of Hongkong Land’s wholly owned leasing portfolio has achieved the highest ratings across global green building certifications.
  • 48% in commercial waste diversion rate, showing progress towards the 2030 target of 50%.

    HONG KONG SAR - Media OutReach Newswire - 16 April 2025 - In 2024, Hongkong Land made significant strides towards its Sustainability Framework 2030 goals. The Company has already met and exceeded several targets due to decarbonisation efforts, the transformation of LANDMARK in Tomorrow's CENTRAL, innovative tenant partnerships, and various CSR initiatives.

    Mark Lam, Head of Investor Relations and ESG Engagement, Hongkong Land; Andy Yeung, Director and Head of Technical Services, Hongkong Land; Grace Lam, Senior Sustainability Manager, Hongkong Land (From left to right)
    Mark Lam, Head of Investor Relations and ESG Engagement, Hongkong Land; Andy Yeung, Director and Head of Technical Services, Hongkong Land; Grace Lam, Senior Sustainability Manager, Hongkong Land (From left to right)

    Progress to net zero: Reducing our science-based target carbon emissions

    Hongkong Land has achieved a 33.3% reduction in Scope 1 and 2 carbon emissions against the 2019 baseline. The Company has also improved its commercial waste diversion rate to 48%, progressing to the 2030 target which is set at 50%.

    By enhancing its bespoke embodied carbon tools and updating its emissions factor databases, the Company successfully advanced the granularity of its sustainability efforts along the supply chain. Beyond these achievements, Hongkong Land has reduced operational disruption and increased asset value through enhancement upgrades and energy efficiency measures with an estimated annual savings of US$1 million.

    Reinvesting in existing assets to accelerate decarbonisation pathway

    Hongkong Land has a long history of reinvesting in existing assets, ensuring each building not only withstands the test of time but also meets the latest global green building certification standards.

    In 2024, Hongkong Land’s sustainability efforts were once again recognised by esteemed ESG indices and rating agencies such as Global Real Estate Sustainability Benchmark (GRESB), the Dow Jones Sustainability World Index, and the S&P Global Sustainability Yearbook 2025.

    Hongkong Land has set a new benchmark in the city by becoming the first developer to achieve “Triple Platinum” status across its entire Hong Kong commercial portfolio. 96% of Hongkong Land’s leasing portfolio has attained the second-highest ratings or above for green building certification, and 70% of the portfolio is WELL certified. The Company is committed to maintaining the highest efficiency of its existing buildings, continuously reducing its existing portfolio’s carbon footprint and steadily progressing towards the goal of 100% certification for existing leasing portfolios by 2030.

    Always forward: Collaborating with tenants and partners to have greater positive environmental impact

    The Tenant Sustainability Partnership Programme (TSPP) was launched in 2023 to cultivate collaboration between Hongkong Land and its tenants. By the end of the first year, 23% of the Company’s total Central lettable office area – over 840,000 sq. ft. – had joined the TSPP. The TSPP has since expanded to properties on the Chinese mainland.

    Demolition materials account for a large proportion of a project’s total construction waste. Hongkong Land conducted a circularity study before the commencement of Tomorrow’s CENTRAL and set a 75% waste diversion rate target. The Company collaborated with contractors, suppliers and academia to identify reuse, recycle and waste reduction opportunities throughout the project.

    Mr Michael Smith, Chief Executive of Hongkong Land, said: “Meeting a number of our 2030 sustainability targets ahead of schedule reflects our commitment to a sustainable future as we think in generations and create lasting value for all our stakeholders. ESG leadership is fundamental to our operations, and these milestones demonstrate our ability to align business excellence with sustainable values.”

    For comprehensive details on Hongkong Land's sustainability performance, kindly access the full Sustainability Performance Report 2024.


    Hashtag: #HongKongLand

    The issuer is solely responsible for the content of this announcement.

    Hongkong Land

    Hongkong Land is a major listed property investment, management and development group. Founded in 1889, it is a market leader in the development of experience-led city centres that unlock value for generations by combining innovation, placemaking, exceptional hospitality and sustainability.

    The Group focuses on developing, owning and managing ultra-premium mixed-use real estate in Asian gateway cities, featuring Grade A office, luxury retail, residential and hospitality products. Its mixed-use real estate footprint spans more than 830,000 sq. m., with flagship projects in Hong Kong, Singapore and Shanghai. Its properties hold industry-leading green building certifications and attract the world's foremost companies and luxury brands.

    The Group's Hong Kong Central portfolio represents some 450,000 sq. m. of prime property. LANDMARK, the luxury shopping destination of the Hong Kong Central portfolio, is undergoing a three-year, US$1 billion expansion and upgrade, which aims to reinforce the portfolio as a world-class destination for luxury, retail, lifestyle and business. The Group has a further 165,000 sq. m. of prestigious office space in Singapore, mainly held through joint ventures, and five retail centres on the Chinese mainland, including a luxury retail centre at Wangfujing in Beijing.

    In Shanghai, the Group owns a 43% interest in a 1.1 million sq. m. mixed-use project in West Bund. Due to complete in 2028, it will comprise of Grade A offices, luxury and retail space, high-end waterfront residential apartments, hotels and convention and cultural facilities. Alongside LANDMARK, it forms part of the Group's CENTRAL Series of globally-recognised destinations for luxury and lifestyle experiences.

    Hongkong Land Holdings Limited is incorporated in Bermuda and has a primary listing in the equity shares (transition) category of the London Stock Exchange, with secondary listings in Bermuda and Singapore. Hongkong Land is a member of the Jardine Matheson Group.

    News from Asia

    "Relaxing Jiaxing" Creative Naming Journey Launches, A Hong Kong Influencer Lead the Way in Cultural Tourism

    HONG KONG SAR - Media OutReach Newswire - 7 May 2025 - Recently, a well-known travel influencer from Hong Kong was invited by Jiaxing Municipal Bureau of Culture and Tourism and Putike Internation...

    Amari Bangkok: Gateway to the Vibrant Heart of the City, Creating Unforgettable Experiences at Every Moment

    BANGKOK, THAILAND - Media OutReach Newswire – 7 May 2025 - Located in the dynamic heart of Thailand's capital, Amari Bangkok is an upper-upscale luxury hotel managed by ONYX Hospitality Group — a ...

    INIU Expands European Footprint Through Strategic Partnership with SFR

    PARIS, FRANCE - Media OutReach Newswire - 7 May 2025 - Powering ahead with innovation, INIU, a globally trusted brand in portable power solutions, is proud to bring its products to even more Fren...

    Rhenus signs MoU with Inland Waterways Authority of India (IWAI)

    MUMBAI, INDIA - Media OutReach Newswire - 7 May 2025 - Through the Memorandum of Understanding (MoU), leading global logistics service provider, the Rhenus Group, will operate barge services in va...

    INIU Partners with Boulanger to Launch Innovative Charging Products in France

    PARIS, FRANCE - Media OutReach Newswire - 7 May 2025 - INIU has expanded its partnership with France's leading electronics retailer Boulanger, making its latest innovations—MagPro Slim 5K/10K, P...

    New Report Highlights Need for Ecosystem Approach to Help MSMEs in Southeast Asia Adopt More Sustainable Practices

    Report by the Centre for Impact Investing and Practices (CIIP) finds growing momentum among micro, small, and medium enterprises (MSMEs) in Southeast Asia to adopt sustainability practices...

    His Highness Shaikh Mohammed Bin Sultan Bin Hamdan Al Nahyan acquires Warrants of Diginex Limited to Purchase 6.75 Million Ordinary Shares of Diginex for USD$300 million via a Private Transaction

    LONDON, UNITED KINGDOM - Media OutReach Newswire - 7 May 2025 - Diginex Limited ("Diginex") (NASDAQ: DGNX), a global leader in ESG sustainable RegTech, is pleased to announce that His Highness Sha...

    CTF Life Title-Sponsored "Fencing Plus" Training Programme by Kai Tak Sports Initiative Officially Kicks Off

    Nearly 800 Students Participate in the Selection to Become Future World Champions HONG KONG SAR - Media OutReach Newswire - 7 May 2025 - Title-sponsored by CTF Life and organised by Kai Tak Sport...

    Chubb Life Launches "Health Up" Insurance Plan to Foster a Wellness Lifestyle for the Tech-savvy Generation

    HONG KONG SAR - Media OutReach Newswire - 9 May 2025 - Chubb Life Hong Kong today announced the launch of Health Up Insurance Plan (Health Up), a digital insurance plan aimed at promoting and faci...

    F88 officially becomes a public company, paving the way for UPCOM listing

    HANOI, VIETNAM - Media OutReach Newswire - 8 May 2025 - On May 6, F88 Investment Joint Stock Company (F88) was officially recognised as a public company, marking a major milestone in its growth an...

    UNSW startup accelerator offers $200K to the next generation of Australian deeptech unicorns

    UNSW Founders, Australia’s most recommended startup accelerator, has partnered with fund manager Luminary Partners to invest $200,000 each into 18...

    The Future Is Now: AI Modernization Is Reshaping How Business Gets Done

    The present business environment imposes stronger requirements on Australian organizations to match the fast-paced digital-first economy requireme...

    Businesses losing an average of $493k from data integrity flaws

    Managing data responsibly and effectively for the AI age can give organisations a strong competitive advantage, but many are failing to harness th...

    AI shopping disruptor Zyft raises $7.5M to lead the next gen of retail tech

    Zyft appoints new CEO, Richard Stevens, to lead the latest Waller Group success story, valued at $30 million SYDNEY, 28 April 2025: Zyft, the lea...

    Little known law offers savvy Kiwis the opportunity to supercharge their retirement savings

    A little-known legal amendment is being leveraged by savvy New Zealanders and expat Brits to supercharge their retirement savings. Not many peop...

    Cutting edge AI technology designed for doctors to reduce patient wait times launched in NZ

    New Zealand specialist doctors now have access to Artificial Intelligence technology to help reduce patient wait times and experts say it could be...

    Sell by LayBy