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Sun Hung Kai Properties releases 2020/21 Sustainability Report on ESG performance and new environmental targets

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Sun Hung Kai Properties Limited (SHKP) has set new 10-year environmental targets, as outlined in the 2020/21 Sustainability Report released today.

The new 10-year environmental targets cover its management of greenhouse gas emissions, energy consumption, water use and construction waste diversion. These include a pledge to reduce the greenhouse gas emissions intensity of the Group’s major properties by 25% by 2029/30. The Group also commits to obtaining Leadership in Energy and Environmental Design (LEED) certifications for all its new investment properties. The initiatives represent an advancement of the Group’s green efforts after it met its five-year energy reduction target in the last financial year, in keeping with the Group’s spirit of Building Homes with Heart.

SHKP’s Environmental, Social and Governance (ESG) strategies are in tune with the United Nations’ Sustainable Development Goals and the Group fully supports the government’s sustainability initiatives in environmental protection, talent development, housing supply and more. 

Highlights of SHKP’s sustainability initiatives and the value they created for stakeholders and the community are as follows:

The Environment

ICC became the first building in Hong Kong to receive the Health - Safety Rating for Facility Operations and Management certificate from International WELL Building Institute. Moreover, the Group’s core commercial projects under construction are all designed to obtain LEED Gold or Platinum ratings. And to help combat climate change, SHKP promotes the use of electric vehicles and renewable energy.  

People

SHKP took the largest number of recruits from the first batch of candidates of the government’s Greater Bay Area (GBA) Youth Employment Scheme, enabling fresh university graduates to explore career opportunities in GBA cities. Apart from supporting career development of its staff, the company took extra care of their health during the pandemic. It was one of the first property developers to support the government’s vaccination outreach scheme.  

Customers

Smart technologies, especially those enabled by its 5G network, are leveraged to promote smart living and maximize satisfaction of customers and property users. As at the end of June 2021, The Point by SHKP, a customer loyalty programme under the SHKP Malls App, had more than 1.2 million members.
 
Supply Chain

The Group’s procurement takes into account environmental factors. Close to 100% of its suppliers are locally based companies, which are preferred whenever possible to reduce carbon emissions from transportation and to support the local economy. In addition, the company integrates smart technologies into traditional construction practices to enhance health and safety features at its construction sites. 

Community

SHKP continues to promote reading among youth, sports for charity and care for the underprivileged. Embracing the cross-generational living concept, the company will develop its first multigenerational housing project in Tung Shing Lei, Yuen Long. Some of the units will be configured specifically for the elderly, and the project will include a wellness centre, kindergarten and nursery to create a harmonious living environment. The construction of United Court, SHKP’s transitional social housing project, is expected to be completed in 2022, and will offer 1,800 units, benefitting 5,000 underprivileged families.

To view the full Sustainability Report, please visit https://www.shkp.com/Html/CSR/SHKP_SR_2021_EN.pdf

Sun Hung Kai Properties Hong Kong Cyclothon returns with spectacular new route on the Hong Kong-Zhuhai-Macao Bridge and free virtual rides 
A pilot run for future intercity GBA mega events

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The Sun Hung Kai Properties Hong Kong Cyclothon is back with a spectacular new route and an exciting virtual reality ride experience. The Hong Kong Tourism Board (HKTB) announced today that the hugely popular event will make its keenly-anticipated return on 16 January 2022, and will for the first time include the Hong Kong section of the Hong Kong–Zhuhai–Macao Bridge (HZMB). Free virtual ride experience will also be offered to cyclists unable to join in person.

HKTB Executive Director Dane Cheng said the event would feature two ‘first’ elements. “This year’s Hong Kong Cyclothon will not only be the first sports event held on the world’s longest bridge-tunnel sea crossing as it is taking a whole new route on the HZMB, but also the first time a virtual experience has been incorporated into the event, offering cyclists worldwide who are unable to take part physically a thrilling and immersive experience of racing over the landmark bridge.

“These special features are a pilot run for future intercity events in the Greater Bay Area, and consolidate Hong Kong’s status as the international tourism event capital in the GBA. I sincerely hope participants from other cities in the Area will come and ride with us in the years to come.”

Adam Kwok, Executive Director of Sun Hung Kai Properties (SHKP), the Hong Kong Cyclothon’s long-time title and charity sponsor, remarked in his speech, “Every time, the Sun Hung Kai Properties Hong Kong Cyclothon brings new enhancements for everyone. This time, we will have a rare opportunity to change the cycling route from the Tsing Ma Bridge to the Hong Kong Section of the Hong Kong-Zhuhai-Macao Bridge. I’m sure Hong Kong cycling enthusiasts are eagerly looking forward to this magnificent route!

“The event will also continue to uphold SHKP’s spirit of Sports-for-Charity. In addition to allocating a part of the public registration fee for charity, our Group will make additional matching donations in the ratio of 1:5, meaning for every HK$100 an individual rider contributes, SHKP will pitch in HK$500, thus benefitting more people in need. We hope the public will keep the passion of the Tokyo Olympics and the National Games alive, by continuing to support the athletes and sports development in Hong Kong, and spend more time doing sports themselves.”

The HKTB has introduced stringent anti-infection measures for the event to ensure the safety of cyclists and spectators. All riders are required to be fully vaccinated against COVID-19 at least 14 days before the event (on or before 2 January) and to provide a negative COVID-19 nucleic acid test within 48 hours before the event. The event plans to have a limit of 3,000 participants in view of COVID-19 safeguards and traffic restrictions for the bridge area.

As the Cyclothon features a new route requiring a higher degree of technical skill, participants must have previously completed a ride of at least 30 km in the Hong Kong Cyclothon between 2015 and 2018. Participants can prepare for the new route by trying the virtual races beforehand.

The event will be open for registration on Saturday (20 November). Cyclists who previously signed up for the 2019 Hong Kong Cyclothon can register in advance and will receive a 20% discount when they successfully enroll. If registrations received exceed the planned quota, participants will be selected in a draw.

To share the excitement of racing on the bridge as widely as possible, a free virtual race experience is being introduced to allow cyclists from Hong Kong, the mainland, and overseas unable to join in person to enjoy a mesmerising simulation of the experience.

A Never-before-taken Route 

The Hong Kong Cyclothon this year will first move to the HZMB (Hong Kong Section). Cyclists will start from the HZMB Hong Kong Port and pass by the Scenic Hill Tunnel and the highway between Airport Channel and the western waters, returning along the way before reaching the HKSAR boundary. 

Eligibility

  • 16-70 years old
  • Participants must have completed a 30-km/ 35-km/ 50-km events of the Hong Kong Cyclothon between 2015 and 2018 
  • Fully vaccinated against COVID-19 in Hong Kong 14 days before the event, i.e. by 2 January
  • Tested negative for COVID-19 by organiser’s test within 48 hours before the event, with valid vaccination records 

Groups

Start time Group Planned quota
05:00am 48-km 1,000
07:35am 26-km (Group A) 2,000
09:10am 26-km (Group B)

 

Stringent Anti-epidemic Measures

 

10 Anti-epidemic Measures

Before the event

  1. Participants and staff are required to be fully vaccinated against COVID-19 with a HKSAR government-recognised vaccine 14 days before the event. 
  2. Participants and staff are required to take a nucleic acid test arranged by the organiser within 48 hours before the event. 

On the event day

  1. Temperatures of participants and staff will be taken
  2. Participants are required to record their visit with Leave Home Safe app 
  3. Confirmation of identity, negative COVID-19 test results and identification bracelet to be worn throughout the whole event 
  4. Masks are compulsory before and after the event 
  5. Hand sanitisers are available 
  6. Segmented star-off times to streamline different groups 
  7. No water stations along the way 

After the event

  1. Free rapid antigen test kit for COVID-19 for cyclists to do home test. 

 

Ensuring cyclists’ safety

 

10 safety measures

Eligibility

  1. Cyclists are required to have completed an event of at least 30 km in Hong Kong Cyclothon between 2015 to 2018 to ensure they have the required cycling skill on highway

Preparation 

  1. Virtual races available for cyclists to familiarise themselves with the route 
  2. Recordings of the route available for pre-event preparation 
  3. Safety instructions will be explained in the event briefing 

Measures on event day
Stringent safety instructions for cyclists

  1. Cyclists should be equipped with safety helmet and other protective gears and wear them all the time
  2. No mobile phones, earphones, cameras, or selfies sticks should be used when cycling 
  3. Cyclists are not allowed to remain stationery unless there are unforeseen circumstances

Road safety 

  1. Instructional signs available for slopes, turns, and bumpy surfaces 
  2. Wind speed and direction will be closely monitored 

Emergency support

  1. First aid stations and paramedics will standby along the route to provide immediate assistance 

 

Registration starts on 20 November with lucky draw for participant selection 

 

Notes to participants
Date Procedure
20-30 November
(closes at 11:59 pm)
Register on event website (www.discoverhongkong.com/cyclothon) and fill in personal details. Upload a copy of Finisher’s Certificate of previous participation.
From 2 pm, 5 December If registrations received exceed the planned quota, participants will be randomly selected in a draw. Successful participants will receive a notification from 2 pm, 5 December.
By 11:59 pm, 7 December Complete registration fee payment online and select pick-up and drop-off point for shuttle on the event website.
Groups Registration fee
48-km HK$750
Includes:
  • COVID-19 test
  • Rapid antigen test kit for post-event test
  • Cyclist’s pack and event jersey
  • Finisher’s certificate and finisher’s medal
  • Shuttle transport on event day
  • Charity donation
26-km HK$500

 

Introducing the Virtual Races
   
To enhance the event’s appeal, this year free Virtual Races will be launched to recreate the 26-km actual route of the HZMB (Hong Kong Section). Participants can feel the authentic ups and downs and resistence of the scene in an immersive virtual journey. E-sports elements such as timed acceleration zones are also included to add excitement to the ride. 

Members of the public and cyclists can also use their own training bike stations and join the virtual races directly through the app. Participants can check their time and ranking upon completion of the route.

Where to find the 26-km full ride (45 minutes) and opening hours
Date and time 12nn – 9 pm, 3-16 January 2022
*Participants of physical events can book in advance
Locations
  • SPORTS EXPO, Mong Kok
  • AME E-sports Stadium, Tsim Sha Tsui

*5-minute trials of the virtual races are also available at Sun Hung Kai Properties shopping malls. Locations will be announced soon.

SHKP signs first sustainability-linked loan of HK$8,650 million, the largest of its kind in real estate sector in Hong Kong

Sun Hung Kai Properties Limited (SHKP) today signed its first sustainability-linked loan (SLL) facility with oversubscription from eight leading international and local banks, amounting to HK$8,650 million. The four-year club loan, the largest for the real estate sector in Hong Kong, reaffirms the Group’s commitment to sustainability for pursuing long-term growth.  

The credit facility received an overwhelming response from banks, with the loan size having increased significantly from an initial amount of HK$3,000 million to HK$8,650 million, clearly showing the banking community’s strong support for the Group’s sustainability initiatives.

SHKP has been incorporating elements of green and wellness in its operations to create sustainable value for its stakeholders.  Apart from developing a number of certified green commercial landmarks in Hong Kong and major mainland cities, the Group strives for a balance between development and environmental conservation as evidenced by its residential developments, such as PARK YOHO and Wetland Seasons Park. To help combat climate change, SHKP has established clear environmental targets and consistently reviews its completed properties for investment, looking for areas of environmental performance enhancements. The Group is planning to install solar panels at its new buildings, where feasible, as well as promoting a wider use of electric vehicles in the community by installing more charging stations at its new developments. 

SHKP’s dedicated work on Environmental, Social and Governance (ESG) is well recognized by respected organizations and the financial community.  The Group has been named one of the top three companies in the Hang Seng Corporate Sustainability Index for three consecutive years, and a constituent member of the FTSE4Good Global Index since 2018. 

SHKP Chairman and Managing Director Raymond Kwok said: “This credit facility marks another milestone on SHKP’s sustainability journey, giving us new momentum to create long-term value for stakeholders and the community as a whole.  It demonstrates the Group’s ongoing efforts on ESG and will reinforce our Building Homes with Heart belief in making the earth and our community a better home for all. The Group is committed to not just meeting the sustainability performance targets but also developing comfortable, green and sustainable communities for cross-generational living, working, and enjoyment.”

Bank of China (Hong Kong) Limited, DBS Bank Ltd., The Hongkong & Shanghai Banking Corporation Limited collectively act as sustainability advisors of this facility and advise SHKP on sustainability performance targets.  On top of the three advisors, the facility is also backed by Mizuho Bank, Ltd., MUFG Bank, Ltd., Agricultural Bank of China Limited, Sumitomo Mitsui Banking Corporation, and Hang Seng Bank Limited.

Bank of China (Hong Kong) Limited’s (BOCHK) Deputy Chief Executive Wang Bing said: “SHKP has been upholding Building Homes with Heart at its core and is fully devoted to driving sustainable development across its diversified business segments. BOCHK is very delighted to be appointed as the sustainability advisor for its sustainability-linked loan facility. With green and sustainable development as one of our core strategic goals, the bank strives to diversify our portfolio of green finance products and services. As one of the major commercial banks, we are committed to promoting the development of green and sustainable finance in Hong Kong. We will continue to support our clients through low-carbon transition so as to contribute to a more sustainable future together.”

DBS Hong Kong’s Managing Director and Head of Institutional Banking Group Alex Cheung said: “DBS Bank has a long-standing relationship with SHKP through supporting their various key financing exercises over the years. We are pleased to participate in their first sustainability-linked loan as their sustainability advisor. As our clients advance on their sustainability agenda, DBS Hong Kong will double down on our commitment to collectively realizing a greener and more sustainable future with our partners.” 

The Hongkong & Shanghai Banking Corporation Limited’s Managing Director, ESG Solutions, Global Banking Jonathan Drew said: “SHKP is implementing energy efficiency solutions across its portfolio and thus playing its part to implement a critical component in Hong Kong’s Climate Action Plan 2050. This loan incentivises SHKP to meet its ambitious targets and at the same time demonstrates the potential of Hong Kong’s fast growing green and sustainable finance market. We are delighted to support SHKP in this landmark transaction.”

According to the loan agreement, SHKP is entitled to interest savings upon achieving a set of predetermined sustainability ESG targets.  These sustainability performance targets include:

  • Achieving annual reduction in electricity consumption intensity (ECI, measured in units of kWh/m2)
  • Demonstrating continuous improvements in the S&P Global ESG Scores(1)
  • Retaining as a constituent member of the Hang Seng Corporate Sustainability Index with a designated rating(2)


The facility was signed by Sun Hung Kai Properties (Financial Services) Limited, with its parent, SHKP, providing a guarantee.  It has a 30:70 split between a term loan and revolving credit tranches and a maturity of four years.  The proceeds will be used for general working capital and to fund ongoing sustainability initiatives.  SHKP has the highest credit ratings among property companies in Hong Kong, attaining an A1 and A+ rating with stable outlook from Moody’s and Standard & Poor’s respectively.  


(1) The S&P Global ESG Scores (formerly known as the SAM ESG Scores; Dow Jones Sustainability Index scores) is an ESG data set that provides company level, dimension level, and criteria level scores based on the S&P Global Corporate Sustainability Assessment process, an annual evaluation of companies' sustainability practices.

(2) The Hang Seng Corporate Sustainability Index includes the top 30 Hong Kong-listed companies that perform well on corporate sustainability.  Constituent companies of the index are selected by the Hong Kong Quality Assurance Agency, an independent and professional assessment body, to ensure the index is objective and reliable.  SHKP attained AAA, the highest rating, in both 2020 and 2021. 
 

Key Facts and Figures
Underlying Profit
HK$ 29,873 million
(2020/21 Annual Results)
Hong Kong Land Bank
57.9 million square feet
Mainland Land Bank
75.3 million square feet
Hong Kong Retail Space
12 million square feet
Hong Kong Office Space
10 million square feet
Sustainable Development
Community Investment and Charity
Our Environmental Commitment
Employee Care
Loving Home and Domestic Harmony
Community Investment and Charity
Community Investment and Charity
Our Environmental Commitment
Employee Care
Loving Home and Domestic Harmony
Community Investment and Charity
Community Investment and Charity
Our Environmental Commitment
Our Environmental Commitment
Employee Care
Employee Care
Loving Home and Domestic Harmony
Loving Home and Domestic Harmony