Hongkong Land joins initiative to limit temperature rise to 1.5°C

The campaign is spearheaded by the Science Based Targets initiative.

Singapore Exchange-listed Hong Kong Land continued to reiterate its global efforts against global warming as it joined the Science Based Targets initiative (SBTi) campaign to limit global warming to 1.5°C.

This is in line with the Paris Agreement targets.

The group has set its own emission reduction targets across the region. A 46% reduction in Scope 1 and 2 emissions, as well as a 22% reduction in carbon intensity for Scope 3 emissions, are planned by 2030 from 2019 levels. Measures entailed by the campaign include the retrofitting and deployment of smart green technologies, increasing the use of renewable energy, and focusing on low carbon construction to reduce emissions in development projects. 

“Climate change is an issue we have attached great importance to for many years and is a business priority for the Group. We are proud to be strengthening this dedication by committing to this initiative,” commented Ben Keswick, Chairman, HongKong Land. 

Other similar initiatives by the group include the current retrofitment of existing assets to drive energy efficiency, the implementation of a green building certification programme, and an overall reduction in the Central Portfolio by 30% when compared to the baseline year of 2008. 

“Developers must take responsibility for mitigating their impact on the environment and pushing the sustainability agenda forward on behalf of the community they serve, including their tenants who are increasingly prioritising greener buildings and services,” added Robert Wong, CEO, HongKong Land.

The SBTi was originally established in 2015 as part of a partnership between what was known as the Carbon Disclosure Project, the United Nations Global Compact, the World Resources Institute, and the World Wide Fund for Nature.