Sun Hung Kai Properties releases 2021/22 Sustainability Report on ESG performance and climate-related information

Sun Hung Kai Properties releases 2021/22 Sustainability Report on ESG performance and climate-related information

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Sun Hung Kai Properties Limited (SHKP) today released the 2021/22 Sustainability Report, which sets out the Group’s Environmental, Social and Governance (ESG) performance and its latest sustainability initiatives. 

The Group fully supports Hong Kong’s and the mainland’s goals of carbon neutrality by 2050 and 2060, respectively. To respond to the global call for climate action, the Group has strengthened its climate change management and from this reporting year has started to make disclosure with reference to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Climate-related governance, strategy, risk management and targets are highlighted in this report.

In 2021/22, SHKP signed two sustainability-linked loan facilities with leading banks. Both loans were the largest of their kind for the Hong Kong real estate sector at the time. They demonstrated the banking industry’s trust in and support for the Group’s work on ESG. 

Highlights of the Group’s sustainability initiatives are as follows:

Environment

SHKP supports low-carbon transition. Progress in meeting the 10-year environmental targets established in 2020/21 was well on track. The Group is committed to improving the environmental performance of existing buildings and having all its new core commercial projects achieve the Leadership in Energy and Environmental Design (LEED) Gold or Platinum certification. In the reporting year, Two IFC became the first building in Hong Kong to be awarded LEED Platinum certification under v4.1 Operations and Maintenance: Existing Buildings rating system. This is one of the 108 green-building-related certifications the Group had obtained as of the end of June 2022. 

People

SHKP nurtures a people-oriented culture and strives to create an inclusive workplace by actively promoting diversity and providing fair employment opportunities. As of June 2022, the Group employed 485 people with physical or mental disabilities, and 755 people from ethnic minorities. The Group continued to support the government’s Greater Bay Area (GBA) Youth Employment Scheme and offered graduates career opportunities in GBA cities.

Customers

SHKP leverages smart technologies, particularly its 5G network, to provide better customer service. For example, the Group’s mobile app The Point by SHKP, through 5G, provides real-time occupancy information of washroom and nursery facilities in selected shopping malls. Signature Homes uses cloud technology for flat visits, residential leasing management and tenant services. The newly-launched Go Royal programme of the five Royal hotels, a mobile-based customer-loyalty programme integrated with The Point, has become the largest hotel and shopping loyalty programme in Hong Kong. 
 
Supply Chain

The Group upholds sustainability value in procurement decisions. In the reporting year, the Group refined the Sustainable Supply Chain Management Guideline, enabling its construction arm to strengthen supply chain management. The Group and its contractors also employed smart technologies in construction. SHKP was the first property developer in Hong Kong to adopt the rotational bridge launching construction method for the bridge construction project in Yuen Long.

Community

In 2021/22, SHKP contributed substantially to combat the fifth wave of COVID-19 by lending sites for free for two major community isolation facilities, including the land site at Tam Mi, Yuen Long for a 10-hecture facility. The Group also provided two commercial spaces for community vaccination centres and donated caring kits for people in need. The Group-initiated transitional housing project, United Court, is Hong Kong’s largest project of such in full operation. Opened in June this year, it provides 1,800 units for families awaiting public housing.

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