Sustainability Report 2023/24

Our hotels also proactively enhance energy efficiency. For example, we have installed more sub-meters to better monitor and manage electricity usage in restaurants, rooms and public areas. We also continue to retrofit our lighting systems with energy-saving LEDs. To identify areas for improvements and decarbonize our value chain, we have undertaken voluntary carbon audits at the majority of our properties since 2008. During the reporting year, our property management subsidiaries have performed 69 energy audits and 70 carbon audits for our managed properties. Furthermore, we have provided complimentary energy audits, carbon audits and energy- saving/carbon reduction advice to more than 1,300 tenants. We are continuously aiming to expand such coverage within our portfolio. To further decarbonize our downstream emissions, we have installed more than 10,000 smart meters and rolled out eco-efficiency programmes for our tenants. Sanfield has begun conducting in-house carbon emissions reviews for each site, to identify further opportunities for reducing carbon emissions. Via internal webinars, we educate our general staff and property management staff about energy-saving measures and best practices to build internal capacity. These include topics, such as chiller plant control optimization and electronically commutated plug fans application. Accelerating the Deployment of Renewable Energy Renewable energy is key to our efforts in decarbonization. To support the development and adoption of renewable energy, we are building one of Hong Kong’s largest solar energy networks. Our renewable energy achievements include: • As at 30 June 2024, there are a total of 16,500-plus solar panels installed at 62 of our managed buildings and two construction sites, covering a total site area of approximately 367,000 square feet. These could generate around 6.96 million kWh of electricity annually, and reduce carbon emissions by around 3,200 tonnes - equivalent to the CO 2 absorption of around 140,000 trees in one year • Solar panels at our Shap Sze Heung project make it the first construction site in Hong Kong to deploy a renewable energy system. Our goal is to generate 50,000 kWh of electricity annually and support the CLP’s Feed-in Tariff (FiT) programme. A six-metre hybrid wind turbine generates renewable energy for the workers’ lounge and office By the end of 2025, we expect to have installed around 20,000 solar panels that could generate around 8.96 million kWh of electricity annually, and reduce carbon emissions by around 4,000 tonnes - equivalent to the CO 2 absorption of around 174,000 trees in one year. The Group, through a joint venture partnership, is undertaking the development of Hong Kong’s pioneering first solar farm built on the South East New Territories Landfill in Tseung Kwan O. Works on the 107,600 square feet solar farm will soon commence, and it is capable of generating 1.2 million kWh of electricity annually upon completion. To support the government’s carbon neutrality goal, we will continue to monitor market trends and purchase more RECs in the future. Construction site at Shap Sze Heung project Valais - Residential development Sun Hung Kai Properties Limited | Sustainability Report 2023/24 < 30 > 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 Appendices