Client: A Leading Real Estate Developer
Sector: Real Estate
Location: Hong Kong
Ambition to: Develop Science-Based Targets (SBT) and a decarbonization roadmap aligned with SBTi
Services: Inventory Review | Emissions Trajectory Modeling | Reduction Opportunities Evaluation | Scope 3 Inventory Review | Renewable Energy Procurement Study | Internal Stakeholder Engagement
About the Client:
The client is a prominent real estate developer in Hong Kong, known for its commitment to sustainability and innovation. RESET Carbon has been collaborating with the organization since 2017 to design and implement a target and roadmap that is aligned with the Science Based Targets initiative (SBTi) decarbonization pathway.
The Challenge:
The developer wanted to align its carbon emissions with SBTi and develop a comprehensive decarbonization strategy. The primary goal was to review the existing inventory and portfolio of owned and operated properties, model the SBT emissions trajectory, and evaluate potential reduction opportunities.
Our Approach:
RESET’s approach involved several key steps:
- Inventory Review: Conducted an in-depth review of the existing inventory and portfolio of properties across China, Southeast Asia and the US.
- Emissions Trajectory Modeling: Modeled the SBT emissions trajectory using the sectoral decarbonization approach (SDA).
- Reduction Opportunities Evaluation: Identified carbon reduction opportunities.
- Scope 3 Inventory Review: Reviewed and developed Scope 3 emissions inventory and targets.
- Renewable Energy Procurement Study: Conducted a study focused on the renewable energy procurement options available across China, as well as the specific regulations and market updates.
- Internal Stakeholder Engagement: Engaged internal stakeholders to ensure alignment and support for the decarbonization strategy.
- SBT Pilot Program: Participated in the Building Sector SBT Pilot Program capturing exclusive insight into the new decarbonization ambitions and target setting criteria.
Key outcomes at a glance:
- Enhanced Data Accuracy: Improved the accuracy and reliability of the carbon inventory through rigorous data collection and verification.
- Scenario Modeling: Developed and analyzed various emission reduction scenarios to inform strategic decision-making.
- Reduction Opportunities: Identified and assessed emission reduction opportunities, providing clarity on key areas for engagement.
- Standardization: Prepared a standard set of procurement specifications and requirements providing a clear pathway for future engagement.
Result:
As a result of RESET’s collaboration, the client now has a robust framework for managing its carbon inventory and advancing its decarbonization strategy, enabling them to quantify ongoing sustainability impact and identify future improvement areas. Collectively we have pioneered multiple climate actions leading to the client securing its leadership position within the industry.