Sustainability Report 2023/24

Paragraph Description Reference (Page number) and Remarks 34 An entity shall disclose information about its approach to setting and reviewing each target, and how it monitors progress against each target, including: (a) whether the target and the methodology for setting the target has been validated by a third party; Value Created for the Environment (16-45) We have set 10- year targets on GHG emissions and energy consumption for our properties. Having already met our FY2029/30 GHG emissions target, we have set a new goal for the future. As we move forward, we will explore the feasibility of having our targets validated by a third party. (b) the entity’s processes for reviewing the target; (c) the metrics used to monitor progress towards reaching the target; and (d) any revisions to the target and an explanation for those revisions. 35 An entity shall disclose information about its performance against each climate-related target and an analysis of trends or changes in the entity’s performance. Value Created for the Environment (16-45) Paragraph Description Reference (Page number) and Remarks 36 For each greenhouse gas emissions target disclosed, an entity shall disclose: (a) which greenhouse gases are covered by the target; Value Created for the Environment (16-45) (b) whether Scope 1, Scope 2 or Scope 3 greenhouse gas emissions are covered by the target; Value Created for the Environment (16-45) (c) whether the target is a gross greenhouse gas emissions target or net greenhouse gas emissions target. If the entity discloses a net greenhouse gas emissions target, the entity is also required to separately disclose its associated gross greenhouse gas emissions target; Value Created for the Environment (16-45) Our target is a gross GHG target. (d) whether the target was derived using a sectoral decarbonization approach; and Value Created for the Environment (16-45) (e) the entity’s planned use of carbon credits to offset greenhouse gas emissions to achieve any net greenhouse gas emissions target. In explaining its planned use of carbon credits the entity shall disclose information including: (i) the extent to which, and how, achieving any net greenhouse gas emissions target relies on the use of carbon credits; (ii) which third-party scheme(s) will verify or certify the carbon credits; (iii) the type of carbon credit, including whether the underlying offset will be nature-based or based on technological carbon removals, and whether the underlying offset is achieved through carbon reduction or removal; and (iv) any other factors necessary for users of general purpose financial reports to understand the credibility and integrity of the carbon credits the entity plans to use. We will explore the feasibility of purchasing carbon credits to offset GHG emissions in our operations. Sun Hung Kai Properties Limited | Sustainability Report 2023/24 < 122 > Our Reporting Approach Message from the Sustainability Steering Committee Our Business Our Approach to Sustainability Value Created for the Environment Value Created for People Value Created for Customers Value Created for Supply Chain Value Created for Community Appendix VI