Sustainability Report 2021/22

Value Created for the Environment For the progress of our 10-year target on GHG emissions intensity reduction, this year, we successfully achieved a significant reduction of around 25.3% since 2019/20. This is mainly attributable to the significant reduction of electricity use during the pandemic, and also the grid emissions intensity for both utility companies in Hong Kong earlier. Despite of that, we will continue to closely monitor our progress and strive to reduce GHG emissions intensity across our operations when the economy is back to normal. SHKP has adopted energy-saving measures in different operations. We have improved energy efficiency in our buildings through retrofitting measures, including chiller sequencing optimization, LED lighting, chiller plant replacement and smart escalator sensors. As of June 2022, more than 220 energy-saving projects had been launched at our shopping malls, residential and commercial buildings, of which 99 earned grants from the CLP Eco Building Fund and five from the HKE Smart Power Building Fund. We encourage tenants to reduce consumption by initiating eco-efficiency programmes and providing free energy audits, carbon audits and technical energy-saving advice. We have already served over 2,500 tenants in 53 of our managed buildings. New technology and smart systems drive our energy optimization. At our BEAM Plus-certified Sun Hung Kai Centre and other buildings, Internet of Things (IoT) technology monitors and analyzes consumption. Smart systems automatically manage the operation of chillers and pumps. A protocol regarding automation of power systems control has been implemented to provide better data communication for energy efficiency enhancement. At V City, cloud-based technology optimizes our chillers and provides energy-saving insights and data visualization. The shopping mall has reduced its electricity consumption for six consecutive years. This year, V Walk participated in CLP’s retro-commissioning Charter Programme and earned a Smart Technology Award for its building-management system and chiller-plant optimization. The optimization is expected to reduce electricity consumption by 300,000 kWh per year. Building an Extensive Renewable Energy Network Renewable energy is another key focus. The Group has widely adopted solar-power applications across our managed properties. The Group is building one of the city’s largest solar-energy generation networks, with around 14,600 solar panels, covering more than 400,000 ft 2 by the end of 2023. It is expected to generate 5.6 million kWh of electricity annually and reduce carbon emissions by 2,600 tonnes, which is equivalent to the CO 2 absorption of around 112,700 trees in one year. As of June 2022, over 8,000 solar panels had been installed in our 33 buildings as well as construction sites. For example, Greenfield Garden has solar panels on the rooftop, supported by a smart system, which was recognized with the Renewable Energy Excellence Award organized by CLP in 2020. Brill Plaza joined CLP’s Feed-in Tariff (FiT) Scheme and achieved zero tariffs for months. It has become one of the scheme’s largest-scale ultra low-emission industrial and commercial buildings in the district. By the end of 2023, we plan to install another 18 solar PV systems in our buildings. Solar panels in Brill Plaza Solar panels in ICC 15 Sun Hung Kai Properties Limited • Sustainability Report 2021/22