{"id":151746,"date":"2025-04-16T09:27:37","date_gmt":"2025-04-16T02:27:37","guid":{"rendered":"http:\/\/www.thestorythailand.com\/?p=151746"},"modified":"2025-04-17T09:30:11","modified_gmt":"2025-04-17T02:30:11","slug":"hongkong-land-sustainability","status":"publish","type":"post","link":"https:\/\/www.thestorythailand.com\/en\/hongkong-land-sustainability\/","title":{"rendered":"Sustainability progress to 2030 delivering value for Hongkong Land"},"content":{"rendered":"\n<p>In 2024, Hongkong Land made significant strides towards its Sustainability Framework 2030 goals. The Company has already met and exceeded several targets due to decarbonisation efforts, the transformation of LANDMARK in Tomorrow&#8217;s CENTRAL, innovative tenant partnerships, and various CSR initiatives.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Progress to net zero: Reducing our science-based target carbon emissions<\/h3>\n\n\n\n<p>Hongkong Land has achieved a 33.3% reduction in Scope 1 and 2 carbon emissions against the 2019 baseline. The Company has also improved its commercial waste diversion rate to 48%, progressing to the 2030 target which is set at 50%.<\/p>\n\n\n\n<p>By enhancing its bespoke embodied carbon tools and updating its emissions factor databases, the Company successfully advanced the granularity of its sustainability efforts along the supply chain. Beyond these achievements, Hongkong Land has reduced operational disruption and increased asset value through enhancement upgrades and energy efficiency measures with an estimated annual savings of US$1 million.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Reinvesting in existing assets to accelerate decarbonisation pathway<\/h3>\n\n\n\n<p>Hongkong Land has a long history of reinvesting in existing assets, ensuring each building not only withstands the test of time but also meets the latest global green building certification standards.<\/p>\n\n\n\n<p>In 2024, Hongkong Land\u2019s sustainability efforts were once again recognised by esteemed ESG indices and rating agencies such as Global Real Estate Sustainability Benchmark (GRESB), the Dow Jones Sustainability World Index, and the S&amp;P Global Sustainability Yearbook 2025.<\/p>\n\n\n\n<p>Hongkong Land has set a new benchmark in the city by becoming the first developer to achieve \u201cTriple Platinum\u201d status across its entire Hong Kong commercial portfolio. 96% of Hongkong Land\u2019s leasing portfolio has attained the second-highest ratings or above for green building certification, and 70% of the portfolio is WELL certified. The Company is committed to maintaining the highest efficiency of its existing buildings, continuously reducing its existing portfolio\u2019s carbon footprint and steadily progressing towards the goal of 100% certification for existing leasing portfolios by 2030.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Always forward: Collaborating with tenants and partners to have greater positive environmental impact<\/h3>\n\n\n\n<p>The Tenant Sustainability Partnership Programme (TSPP) was launched in 2023 to cultivate collaboration between Hongkong Land and its tenants. By the end of the first year, 23% of the Company\u2019s total Central lettable office area \u2013 over 840,000 sq. ft. \u2013 had joined the TSPP. The TSPP has since expanded to properties on the Chinese mainland.<\/p>\n\n\n\n<p>Demolition materials account for a large proportion of a project\u2019s total construction waste. Hongkong Land conducted a circularity study before the commencement of Tomorrow\u2019s CENTRAL and set a 75% waste diversion rate target. The Company collaborated with contractors, suppliers and academia to identify reuse, recycle and waste reduction opportunities throughout the project.<\/p>\n\n\n\n<p><strong>Michael Smith<\/strong>, Chief Executive of Hongkong Land, said: \u201cMeeting a number of our 2030 sustainability targets ahead of schedule reflects our commitment to a sustainable future as we think in generations and create lasting value for all our stakeholders. ESG leadership is fundamental to our operations, and these milestones demonstrate our ability to align business excellence with sustainable values.\u201d<\/p>\n\n\n\n<p>For comprehensive details on Hongkong Land&#8217;s sustainability performance, kindly access the full&nbsp;<a href=\"https:\/\/webfile.hkland.com\/assets\/sustainability-report\/2025\/en\/hongkong-land-sustainability.pdf\" rel=\"noreferrer noopener\" target=\"_blank\">Sustainability Performance Report 2024<\/a>.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.thestorythailand.com\/en\/13\/12\/2024\/143969\/\">UOB\u2019s \u0e3f6.5B loan fuels Bangchak\u2019s SAF Plant<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.thestorythailand.com\/en\/16\/04\/2025\/151744\/\">Web browsers remain major security weak point, facilitating 44% of attacks<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.thestorythailand.com\/en\/09\/12\/2024\/143627\/\">Beacon VC boosts Impact Fund for Sustainable SEA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2024, Hongkong Land made significant strides towards its Sustainability Framework 2030 goals. <\/p>\n","protected":false},"author":8,"featured_media":151748,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3540],"tags":[6907,33090,33091,33092],"class_list":["post-151746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sustainability-en","tag-sustainability","tag-hongkong-land","tag-sustainability-framework-2030-goals","tag-michael-smith"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sustainability progress to 2030 delivering value for Hongkong Land - The Story Thailand<\/title>\n<meta name=\"description\" content=\"In 2024, Hongkong Land made significant strides towards its Sustainability Framework 2030 goals. 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