Climate Change Data

Environmental Metrics

ESG Focus Areas

• Emissions
• Waste Management
• Energy Efficiency
• Water Reduction
• Environmental Impact
• Employment and Labour Practices
• Occupational Health and Safety
• Staff Development and Training
• Supply Chain Management
• Product Responsibility
• Anti-corruption Practices
• Community Investment

Environmental Achievements

• Replaced lighting fixtures with more energy-efficient products
• Utilized water taps with water efficiency labels in development projects
• Promotes water-efficient practices and water conservation awareness
• Adhered to strict policies and guidelines during property construction to control and mitigate construction noise, dust and wastewater discharge
• Encourages employees to adopt green office practices to minimize paper consumption

Social Achievements

• Developed a positive and harmonious workplace for employees
• Offered competitive remuneration packages with employee benefits
• Implemented an equal employment opportunity policy
• Adopted workplace safety guidelines, trainings and emergency measures
• Provided health seminars and events for employees
• Provided education subsidies to eligible employees
• Maintained a long-term win-win cooperation relationship with suppliers
• Adopted an anti-corruption policy and conducted seminars on integrity and prevention of corruption
• Implemented community responsibility-related content in the adopted CSR Policy

Governance Achievements

• Applied all principles as set out in the Corporate Governance Code, with some deviations
• Adopted the Model Code for Securities Transactions by Directors
• Established a Remuneration Committee, Nomination Committee, and Audit Committee
• Implemented a Board Diversity Policy
• Maintained a corporate governance function responsible for developing and reviewing policies and practices

Climate Goals & Targets

Environmental Challenges

• Economic and market conditions in Hong Kong and the US may impact operating results and financial conditions
• Operational risks such as default by buyers, tenants, and partners, and internal process failures
• Financial risks in the normal course of business
• Impact of an interest rate up-cycle and market volatility

Mitigation Strategies

• Closely monitored changes to regulations and accounting standards
• Formulated policies for various types of risk and reviewed them regularly
• Maintained a strong balance sheet and ample cash on hand
• Pursued opportunities to replenish land bank with development potential

Supply Chain Management

Responsible Procurement

• Holistic approach on supplier selection and assessment, considering their credits, reputations, product and service quality, environmental and social performance
• Communicated closely with suppliers and monitored their performance
• Required suppliers to comply with relevant performance standards and conducted periodic reviews

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ESG Reporting Guide (Appendix 27 to the Listing Rules)

Environmental Metrics

ESG Focus Areas

• Emissions
• Waste Management
• Energy Efficiency
• Water Reduction
• Environmental Impact
• Employment and Labour Practices
• Occupational Health and Safety
• Staff Development and Training
• Supply Chain Management
• Product Responsibility
• Anti-corruption Practices
• Community Investment

Environmental Achievements

• Total Non-Hazardous Waste decreased significantly during the year comparing to the previous reporting year mainly due to less construction activities.
• Replaced lighting fixtures with better performance and more energy efficient ones.
• Installed insulated glass units on the building envelope at the Repulse Bay project to conserve energy.
• Adopted water reduction practices and upgraded water-efficient fixtures.
• Signed up for the e-Bill Service to receive electronic water bills.

Social Achievements

• Created a positive and cohesive working environment for its employees.
• Offered remuneration packages with employee benefits including medical subsidies, provident fund schemes.
• Implemented an equal employment opportunity policy.
• Established workplace safety guidelines, provided safety trainings and adopted emergency measures.
• Provided induction trainings for new employees.
• Provided education subsidies to eligible employees.
• Implemented an anti-corruption policy and conducted seminars on integrity and the prevention of corruption.

Governance Achievements

• Adopted a Board Diversity Policy.
• Adopted a Director Nomination Policy.
• Set up a Remuneration Committee.
• Set up a Nomination Committee.
• Set up an Audit Committee.
• Adopted a Dividend Policy.
• Maintained the prescribed amount of public float.

Climate Goals & Targets

Environmental Challenges

• Declined property sales.
• Increased uncertainties arising from the volatile status of US-China trading relationship and recent political incidents in Hong Kong.
• Potential impact on the group’s operating results and financial conditions due to economic and market conditions, legislative and regulatory changes, government policies and political conditions in Hong Kong and the United States.
• Risks distinctive to property development, property investment, and property related businesses.

Mitigation Strategies

• Pursuing to build and manage quality properties mainly in Hong Kong, with focuses on luxury residential properties.
• Maintaining a strong balance sheet and ample cash on hand to navigate any unexpected external turbulence.
• Formulated policies for various types of risk and reviewed and revised them from time to time to align with market changes, statutory requirements, and best practices in risk management processes.
• Implementing measures to mitigate risks identified in the risk assessment process.

Supply Chain Management

Responsible Procurement

• Considering suppliers’ credits, reputations, product and service quality, environmental and social performance.
• Requiring suppliers to comply with relevant performance standards and conducting periodic reviews.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ESG Reporting Guide (Appendix 27 to the Listing Rules)

Environmental Metrics

ESG Focus Areas

• Emissions
• Waste Management
• Energy Efficiency
• Water Reduction
• Environmental Impact
• Employment and Labour Practices
• Occupational Health and Safety
• Staff Development and Training
• Supply Chain Management
• Product Responsibility
• Anti-corruption Practices
• Community Investment

Environmental Achievements

• Reduced paper usage in head office by 12.4%
• Incorporated sustainability elements into its property development and business operation (Pulsa project with over 50% site area covered by greenery)
• Registered Ap Lei Chau project for BEAM Plus New Buildings certification targeting gold rating
• Reduced total GHG emissions from 14,052.36 tonnes CO2e to 8,854.54 tonnes CO2e
• Reduced GHG emission intensity from 61.62 to 45.99
• Reduced total non-hazardous waste from 1,826.62 tonnes to 1,373.31 tonnes
• Reduced non-hazardous waste intensity from 8.01 to 7.13
• Reduced total electricity consumption from 23,428.58 MWh to 17,785.34 MWh
• Reduced electricity consumption intensity from 102.74 to 92.38
• Reduced total water consumption from 44,293.77 m3 to 32,128.92 m3
• Reduced water consumption intensity from 194.92 to 167.58

Social Achievements

• Two major subsidiaries accredited with the “Good Employer Charter 2020”
• A major subsidiary received the Good MPF Employer Award
• Participated in PowerUP program to boost employee energy levels
• Regular health webinars arranged for employees
• Signed Mental Health Workplace Charter
• Two major subsidiaries recognized as Caring Company by The Hong Kong Council of Social Service
• Contributed to communities through charitable donations and employee participation in charity events

Governance Achievements

• Adopted a Board Diversity Policy
• Adopted a Director Nomination Policy
• Adopted a Dividend Policy
• Established a whistleblowing policy
• Adopted an anti-corruption policy
• Regular seminars on integrity and corruption prevention conducted

Climate Goals & Targets

Environmental Challenges

• Fall in interest income due to decreased bank balances and Hong Kong interest rates
• Substantial decline in share of results of Consolidated Hotels Limited due to the adverse impact of the COVID-19 pandemic on the hospitality industry
• Unfavorable economic atmosphere during the pandemic
• Absence of cross-border visitors
• Geopolitical risks

Mitigation Strategies

• Maintaining a strong cash position and very low gearing level
• Adopting flexible strategies to cope with market volatility
• Implementing initiatives to reduce electricity consumption
• Replacing electrical appliances with more energy-efficient models
• Prioritizing equipment with energy labels in procurement
• Adopting water reduction practices and upgrading water-efficient fixtures
• Actively promoting water-efficient practices
• Implementing environmental management measures to reduce pollution during construction
• Sourcing timber from sustainable forestry sources
• Sourcing construction materials regionally to reduce carbon footprint
• Recycling construction waste
• Adopting design options to minimize air ventilation impact
• Using roofing materials with high solar reflectance index
• Using non-CFC refrigerants and avoiding ozone-depleting materials
• Adopting certified energy-efficient appliances and equipment
• Reducing annual consumption of potable water and sewage volume

Supply Chain Management

Responsible Procurement

• Holistic approach on supplier selection and assessment, considering their credits, reputations, product and service quality, environmental and social performance
• Selecting regionally manufactured material suppliers to reduce environmental footprints

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ESG Reporting Guide (Appendix 27 to the Listing Rules)

Awards & Recognition

• Outstanding Managed Property Award in Kowloon West Best Security Services Awards 2019

Environmental Metrics

ESG Focus Areas

• Occupational health and safety
• Climate-related issues
• Environment and natural resources

Environmental Achievements

• Reduced paper usage in head office by 15.4%
• Adopted green building design in the development of Pulsa, with over 50% of the site areas covered by greenery.
• Ap Lei Chau project registered for BEAM Plus New Buildings certification, targeting a gold rating.

Social Achievements

• Major subsidiary received the Good MPF Employer 5 Years+ Award.
• Major subsidiary garnered the Equal Opportunity Employer Award for the Gender Equality Category.
• Approximately 83% of employees received training, averaging 3 hours per employee.

Governance Achievements

• Established a whistleblowing policy.
• Adopted an anti-corruption policy and conducted regular anti-corruption training sessions.
• Three major subsidiaries were nominated for Caring Company 2021/22.

Climate Goals & Targets

Environmental Challenges

• Extreme weather events affecting daily operations.
• Increasingly stringent government policies and regulations towards a low-carbon economy.
• Skilled worker shortage, rising inflation, and supply chain issues impacting the hotel industry.

Mitigation Strategies

• Implemented business contingency plans for operations.
• Taken out property insurance and public liability insurance.
• Adopting best practices in designing and constructing sustainable buildings.
• Monitoring the impact of challenges and exposure to risks.

Supply Chain Management

Responsible Procurement

• Holistic approach on supplier selection and assessment, considering their credits, reputations, product and service quality, environmental and social performance.
• Suppliers complete questionnaires relating to environmental and social risks.
• Selecting regionally manufactured material suppliers to reduce environmental footprints.

Climate-Related Risks & Opportunities

Physical Risks

• Typhoon
• Rainstorm
• Flooding
• Heat waves

Transition Risks

• Implementation of increasingly stringent government policies and regulations towards a low-carbon economy.

Reporting Standards

Frameworks Used: ESG Reporting Guide (Appendix 27 to the Listing Rules)

Third-party Assurance: Independent consultant

Awards & Recognition

• Good MPF Employer 5 Years+ Award
• Equal Opportunity Employer Award for the Gender Equality Category
• Outstanding Managed Property Award in Kowloon West Best Security Services Awards 2020

Environmental Metrics

ESG Focus Areas

• Occupational health and safety
• Climate-related issues
• Environment and natural resources

Environmental Achievements

• Reduced energy consumption by 4%
• Reduced GHG emissions by 6%
• Reduced water consumption by 14%
• Ap Lei Chau project achieved provisional gold rating in BEAM Plus New Building Certification

Social Achievements

• A major subsidiary received the Good MPF Employer Award for 7 consecutive years
• Two subsidiaries received the “Partner Employer Award” from The Hong Kong General Chamber of Small and Medium Business
• Approximately 70% of employees received training with an average of 3 hours completed
• A major subsidiary is accredited as a Manpower Developer from the Employees Retraining Board

Governance Achievements

• Compliance with all principles set out in the Corporate Governance Code in Appendix 14 to the Listing Rules (except for certain deviations)
• Established a Board Diversity Policy
• Established an anti-corruption policy and whistleblowing policy

Climate Goals & Targets

Environmental Challenges

• Economic and market conditions including property market sentiment and property values, legislative and regulatory changes, government policies and political conditions in Hong Kong and the United States
• Operational risks including default on the part of buyers, tenants and strategic business partners, and inadequacies or failures of internal processes, people and systems or other external factors
• Financial risks in the normal course of business
• Climate change leading to frequent extreme weather affecting operations
• Transition climate risks such as increasingly stringent government policies and regulations towards a low-carbon economy

Mitigation Strategies

• Business contingency plans for operations are in place
• Property insurance and public liability insurance to protect interests and reduce potential financial loss
• Adopting best practices in designing and constructing sustainable buildings
• Continuously assessing, reviewing and managing climate risk-related goals
• Formulated policies for various types of risk, reviewed and revised from time to time to align with market changes, statutory requirements, and best practices in risk management processes
• Ongoing risk assessment process

Supply Chain Management

Responsible Procurement

• Holistic approach on supplier selection and assessment, considering their credits, reputations, product and service quality, while paying due consideration to their environmental and social performance
• Certain suppliers complete a questionnaire relating to environmental and social risks
• Selecting regionally manufactured material suppliers to reduce environmental footprints

Climate-Related Risks & Opportunities

Physical Risks

• Typhoon
• Rainstorm
• Flooding
• Heat waves

Transition Risks

• Implementation of increasingly stringent government policies and regulations towards a low-carbon economy

Reporting Standards

Frameworks Used: ESG Reporting Guide (Appendix 27 to the Listing Rules)

Awards & Recognition

• Outstanding Managed Property Award in Kowloon West Best Security Services Awards 2021
• Caring company logo 2022/23 by the Hong Kong Council of Social Service

Environmental Metrics

ESG Focus Areas

• Occupational health and safety
• Climate-related issues
• Environment and natural resources

Environmental Achievements

• Reduced energy consumption by 2%
• Reduced GHG emissions by 6%
• Reduced non-hazardous waste by 60%
• Reduced water consumption by 13%
• Ap Lei Chau project achieved provisional gold rating in BEAM Plus New Building Certification

Social Achievements

• A major subsidiary received the Good MPF Employer Award for 8 consecutive years
• Two subsidiaries received the “Partner Employer Award” from The Hong Kong General Chamber of Small and Medium Business
• Three major subsidiaries were awarded the caring company logo 2023/24 by the Hong Kong Council of Social Service
• Peninsula Square, property managed by a property management subsidiary, was awarded as Star Managed Property in Kowloon West Best Security Services Awards 2022

Governance Achievements

• Compliance with all principles of good corporate governance as set out in the Corporate Governance Code, except for certain deviations.
• Established a Board Diversity Policy
• Adopted a Director Nomination Policy
• Adopted a Dividend Policy
• Implemented a Corporate Social Responsibility (CSR) Policy
• Adopted an anti-corruption policy and whistleblowing policy

Climate Goals & Targets

Environmental Challenges

• Economic and market conditions in Hong Kong and the United States impacting operating results and financial conditions
• Operational risks such as default by buyers, tenants, and partners, and internal process failures
• Financial risks in the normal course of business
• Climate change leading to frequent extreme weather events
• Transition climate risks such as increasingly stringent government policies and regulations towards a low-carbon economy

Mitigation Strategies

• Formulated policies for various types of risk and reviewed them regularly
• Business contingency plans for operations in place
• Implementation of mitigation measures to tackle extreme climate events
• Property insurance and public liability insurance to protect interests
• Adopting best practices in designing and constructing sustainable buildings
• Continuously assessing, reviewing, and managing climate risk-related goals

Supply Chain Management

Responsible Procurement

• Holistic approach on supplier selection and assessment, considering their credits, reputations, product and service quality, environmental and social performance
• Questionnaire relating to environmental and social risks
• Selecting regionally manufactured material suppliers to reduce environmental footprints

Climate-Related Risks & Opportunities

Physical Risks

• Typhoon
• Rainstorm
• Flooding
• Heat waves

Transition Risks

• Implementation of increasingly stringent government policies and regulations towards a low-carbon economy

Reporting Standards

Frameworks Used: ESG Reporting Guide (Appendix C2 to the Listing Rules)

Certifications: ISO 9001 (property management subsidiary)

Awards & Recognition

• Good MPF Employer Award (major subsidiary)
• Partner Employer Award (two subsidiaries)
• Caring company logo 2023/24 (three major subsidiaries)
• Star Managed Property in Kowloon West Best Security Services Awards 2022 (Peninsula Square)