Hongkong Land, a listed property investment, management, and development group is at the cutting edge of the real estate industry in Asia.
In February 2022 they committed to a set of ambitious near-term science-based targets (SBTs). These included a 46.2% reduction of absolute Scope 1 and 2 GHG emissions by 2030 from 2019 levels, and a 22% per square metre reduction of carbon intensity for Scope 3 GHG emissions from purchased goods and services and capital goods over the same period.
In just 4 months their SBTs have been successfully validated by Science Based Targets initiative.
They are one of 4 real estate companies in Hong Kong to have achieved such a milestone and the sixth company across all sectors, illustrating what an accomplishment this is.
Chairman of Hongkong Land, Mr Ben Keswick, shares that “The successful validation of Hongkong Land’s near-term SBTs is a significant achievement in the Group’s climate action journey and is an important milestone in the execution of Jardines’ decarbonisation strategy.”
“By setting targets that have now been validated by an independent party, we have strengthened Hongkong Land’s business resilience and readiness – positioning it for long-term growth and aligned it more closely with the growing sustainability expectations of our partners, tenants and investors.”
We have seen first-hand the commitment and dedication of the Hongkong Land team in not only achieving this validation, but also their enthusiasm and drive for their longer-term climate journey.
Congratulations to the Hongkong Land team – an exceptional achievement and one of great importance for the sector, with another major developer in Asia firmly on the SBTi map. We look forward to continuing to see you flourish and make meaningful progress.