Swire Properties’ second Chinese mainland mixed-use development achieves “net zero carbon”,
continuing the Company’s commitment to Business Ambition for 1.5°C
Swire Properties announced today that Taikoo Hui, Guangzhou, its flagship development in the Chinese mainland’s Greater Bay Area, is now powered by 100 per cent renewable electricity. The Company is one of the first real estate developers in Guangdong Province to accomplish “net zero carbon” in its annual electricity consumption for landlord and tenants’ operations.
With effect from 1 July 2021, the entire Taikoo Hui, Guangzhou development – including the premium shopping mall, two Grade-A office towers and the Mandarin Oriental Hotel – has been 100 per cent powered by renewable electricity, generated via off-site wind power and purchased from a third party. This was possible due to a new policy introduced by the Guangdong Provincial Government in June 2021, which allows enterprises to procure renewable electricity from a registered energy provider.
This milestone will allow Swire Properties to reduce Taikoo Hui, Guangzhou’s annual CO2 emissions by over 12,000 tonnes and increase its mix of renewable electricity in the Chinese mainland to over 37 per cent.
“This is a significant achievement in our sustainable development journey and a highlight for Taikoo Hui, Guangzhou’s 10th anniversary celebrations this year. We’re committed to Business Ambition for 1.5°C and we’ll be increasing our efforts to reduce carbon emissions,” said Tim Blackburn, Chief Executive Officer, Chinese mainland, Swire Properties.
“As a pioneer in the area of sustainable development, we’ll continue to lead by example by setting aggressive science-based targets, adopting global best practices and exploring the latest green building technologies to further enhance energy efficiency across all our portfolios. Our work at Taikoo Hui, Guangzhou and across the Chinese mainland, will contribute to the Central Government’s pledge to achieve carbon neutrality before 2060.”
Taikoo Hui, Guangzhou is at the forefront of Swire Properties’ sustainable development endeavours. Since its opening in 2011, it has implemented a variety of technologies and initiatives to improve energy efficiency and has won multiple international accolades. The two office towers were the first in Guangzhou to achieve LEED Core and Shell Gold certification in 2012. It was also the first enclosed shopping mall in the world to earn LEED Existing Buildings Operations and Maintenance (EBOM) Platinum Certification in 2017, as well as the first mall in the city to install onsite solar photovoltaic panels on the roof. Diverse tenant-engagement activities, from the Green Pledge Programme to free energy audits, have also helped to enhance the development’s overall sustainability performance.
In addition to Taikoo Hui, Guangzhou’s most recent achievement, Sino-Ocean Taikoo Li Chengdu was the Company’s first retail mall in the Chinese mainland to be powered by 100 per cent renewable electricity, starting from January 2020, followed by Swire Hotel’s “Temple House” in Chengdu since January 2021.