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30 May 2022

Swire Properties’ “Green Performance Pledge”: Changing the Sustainability Game for Office Tenants

In just ten months, office tenants covering over 1.5 million sq ft have signed up

 

As part of its Sustainable Development (SD) 2030 Strategy and longstanding commitment to fighting climate change, Swire Properties’ proprietary Green Performance Pledge (GPP) continues to grow rapidly in popularity and is helping office tenants take their overall SD performance to new levels.

 

Building on the basic premise of a green lease, the GPP covers the entire tenancy cycle in the two core areas of fit-out, and operation, which focuses on creating a significant impact in terms of energy, water, and waste reduction. This performance-based programme gives users access to a multitude of ‘green’ tools while enhancing tenant-landlord collaboration.

 

Since the launch of the pilot in August 2021, 30 office tenants – representing approximately 20% of occupied lettable floor area from the Company’s Hong Kong office portfolio – have signed up. Participants come from Taikoo Place, Pacific Place and One Citygate, and span a wide range of industries such as banking and finance, legal, information technology and consumer brands.

 

The GPP will also be piloted in the Company’s Chinese Mainland portfolio in 2022. Swire Properties aims to engage 50% of office tenants[1] in Hong Kong and the Chinese Mainland by 2025.

 

“Swire Properties’ Green Performance Pledge is set to become our leading tenant engagement platform and will drive a new level of collaboration and sustainability performance with our tenants. We’ve had an overwhelming response from participating tenants, because most organisations recognise that it’s the right thing to do,” said Don Taylor, Director, Office at Swire Properties.

 

“The GPP is an action-oriented approach that gives our tenants access to cutting-edge, data-driven tools and technologies that will help them improve their environmental performance through behavioural change. This initiative is very timely, as many companies are looking not just for office space, but also for partners who can help them achieve their sustainable development goals. Moving forward, we’ll continue to look for different ways to collaborate with our tenants and key stakeholders to limit global warming to 1.5oC and create a more sustainable future together.”

 

GPP At A Glance

With SD touch points at every part of the tenancy cycle – from fit-out to operations, a dedicated team from Swire Properties will guide companies on their SD journey, from goal setting to action planning and achievement.

 

For new tenants fitting-out their premises, or for existing tenants planning a renovation, the GPP includes a comprehensive set of ‘SD Fit-out Technical Guidelines’. Featuring user-friendly templates, the Guidelines cover office design as well as a validation and recognition system to improve energy and water efficiency, reduce waste and enhance employee wellness.

 

Under the operations portion, tenants can make use of an array of tools and support available to guide them to operate in a more sustainable way. Highlights include performance benchmarking and action planning, data sharing, tailored SD offerings such as free energy audits and smart water meters, access to pioneering green technologies including Hong Kong’s first smart waste reduction programme, networking opportunities, and recognition for exemplary environmental performance.

 

Swire Properties’ 1.5°C-Aligned Science-Based Targets (SBTs)

In September 2021, the Company became the first real estate developer in Hong Kong and the Chinese Mainland to have its 1.5°C-aligned SBTs approved by the Science Based Targets initiative (SBTi) to play its part in combating climate change. Apart from the Paris-aligned Scope 1 and 2 decarbonisation targets, these SBTs also involve Scope 3 targets which take aim at tenants’ carbon emissions and embodied carbon emissions of new development projects.

The Company’s years of contribution to sustainability have earned it top rankings in three leading sustainability indices, including ranking seventh out of 237 global real estate companies, and first in Asia, in the Dow Jones Sustainability World Index, retaining its Global Sector Leader title in the Global Real Estate Sustainability Benchmark (“GRESB”) for the fifth consecutive year, as well as ranking number one in the Hang Seng Corporate Sustainability Index for four consecutive years.

 

To find out more about Swire Properties’ sustainability efforts and its SD 2030 Strategy, please refer to the latest SD Report.

 

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Appendix: List of GPP Participating Tenants at Taikoo Place, Pacific Place and One Citygate (in alphabetical order; mentions endorsed by tenants)

  • Allianz Global Investors
  • AlphaSights
  • Amundi Hong Kong Limited
  • APG Investments Asia Limited
  • APlus Partners Management Co., Limited
  • Atlas Air and Polar Air Cargo
  • Bank Julius Baer & Co. Ltd.
  • Bank of Montreal Hong Kong Branch
  • Capgemini Hong Kong Ltd
  • China CITIC Bank International Limited
  • CLSA Limited
  • Crédit Agricole Corporate and Investment Bank
  • DBS Bank (HK)
  • Deloitte
  • Fidelity International 
  • Freshfields Bruckhaus Deringer
  • IBM China/Hong Kong Limited
  • JLL
  • John Swire & Sons (H.K.) Ltd.
  • Kennedys
  • Kering Asia Pacific Limited
  • LVMH Fragrance Brands
  • Neo Derm Group Limited
  • Reynolds Porter Chamberlain
  • Securities and Futures Commission
  • Spaces
  • Sylebra Capital Limited
  • Transamerica Life (Bermuda) Ltd.
  • Wells Fargo Bank, N.A. – Hong Kong Branch

 


[1] Measured by occupied lettable floor area (“LFA”) of office portfolio at 100% basis comprising Taikoo Place and Pacific Place in Hong Kong, as well as Taikoo Hui in Guangzhou.