Company retains its first position in Asia for the second consecutive year
Swire Properties’ sustainable development (SD) efforts have once again been recognised at an international level. The Company has advanced to fourth position in the Dow Jones Sustainability World Index (DJSI World) 2022, rising three places from seventh position in the global real estate industry.
Out of the more than 30 different aspects assessed, the Company ranked second globally in the “Environmental Dimension” category, performing exceptionally well in the areas of environmental governance, operational eco-efficiency, climate strategy and green building investment (score date: 16 December 2022).
Companies listed in the DJSI World are selected based on their ESG scores in the S&P Global Corporate Sustainability Assessment (CSA). This year over 13,000 companies, including over 500 real estate companies, were assessed, representing a 19% increase over 2021.
“This latest ranking in the Dow Jones Sustainability World Index 2022 is another important milestone in our 50th Anniversary year. It recognises our sustainability and ESG achievements as well as the collective efforts of all our stakeholders, including partners, tenants and suppliers, who share our vision and help us to achieve our goals,” said Tim Blackburn, Chief Executive of Swire Properties.
“In the future we will continue to build on this strong foundation. We are committed to promoting sustainable development and to accelerating the adoption of advanced technologies and collaborating even more closely with all our stakeholders to bring about positive change as we advance towards our goal of achieving net-zero emissions by 2050.”
Swire Properties’ 1.5°C-Aligned Science-Based Targets
The Company’s sustainable development achievements continue to reach new heights as it works towards achieving its 1.5°C-aligned science-based targets.
Across its global real estate portfolio, Swire Properties achieved a 23% reduction in absolute carbon emissions in 2021, compared to the 2019 baseline. This was contributed to the ongoing adoption of advanced low-carbon technologies such as a cloud-based, smart energy management platform and an integrated direct current microgrid solution that places distributed renewable energy generation, load and energy storage devices in close proximity which reduces carbon emissions by 10% compared to conventional energy generation systems.
Swire Properties also achieved a 34.6% reduction in tenants’ carbon emissions intensity (scope 3 downstream leased assets) in 2021, compared to the 2019 baseline. This directly resulted from the implementation of various industry-leading, tenant-engagement programmes including the Green Performance Pledge – a bespoke programme for office tenants to help them improve their environmental performance, and the Green Kitchen Initiative – for F&B tenants in the Company’s retail malls.
Additionally, since 1 July 2021, the entire Taikoo Hui mixed-use development in Guangzhou has been powered by 100% renewable electricity generated from off-site wind power. Together with Sino-Ocean Taikoo Li Chengdu, which has been powered by 100% renewable electricity since 2020, the Company’s mix of renewable electricity in all of its Chinese Mainland portfolios is now approximately 47%.
Top Rankings In Leading Sustainability Indices
This year, Swire Properties’ sustainability efforts continued to be recognised by other leading global and local indices. The Company retained its Global Sector Leader title (Mixed Use sector) in the 2022 Global Real Estate Sustainability Benchmark (GRESB) for the sixth consecutive year. In addition, Swire Properties ranked No. 1 in the Hang Seng Corporate Sustainability Index for the fifth year in a row, achieving the highest total score among over 500 assessed Hong Kong-listed companies, and maintained its highest “AAA” rating.