Climate Change Data

Jardine Matheson Holdings Limited

Climate Impact & Sustainability Data (2021, 2022, 2023)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:5,418,375 tCO2e/year
Scope 1 Emissions:4,112,571 tCO2e/year
Scope 2 Emissions:1,299,662 tCO2e/year
Total Energy Consumption:78,257,923 GJ/year
Waste Generated:3,967,387 tons/year

ESG Focus Areas

  • Climate Change
  • Responsible Consumption
  • Social Inclusion
  • Colleagues Wellbeing
  • Sustainable Governance

Environmental Achievements

  • Diverted 92% of total recorded waste from disposal in landfills.
  • Conserved 4 million kWh of energy (equivalent of 3,000 tCO2e of carbon emissions) through JEDI.
  • Hongkong Land: 93% of total commercial floor area achieved green building certifications.

Social Achievements

  • Jardine Foundation awarded US$4.5 million in scholarships in 2021.
  • More than 13,700 beneficiaries supported by MINDSET in Hong Kong in 2021.
  • Over 1,600 volunteer hours contributed during the first Group-wide Colleague Volunteering week.

Governance Achievements

  • Simplified parent company structure into a single holding company.
  • Updated Group Code of Conduct to reflect best practices and market trends.
  • Launched Group’s Diversity & Inclusion strategy.

Climate Goals & Targets

Long-term Goals:
  • Transition towards net-zero greenhouse gas emissions.
Medium-term Goals:
  • JC&C and Astra to grow non-coal revenues to 90% and 88%, respectively, by 2030.
  • Hongkong Land to increase female representation in management positions by 50% by 2026.
Short-term Goals:
  • MOHG to eliminate 99% of single-use plastics by the end of 2022.
  • Roll out Group-wide Colleague Volunteering Programme.

Environmental Challenges

  • Phasing down coal in operating markets.
  • Managing climate-related risks (physical and transition).
  • Addressing rising inequality and mental health issues in Asia.
Mitigation Strategies
  • Developing a decarbonisation strategy with a segmented approach.
  • Conducting preliminary physical climate risk analysis and formulating a long-term decarbonisation strategy.
  • Investing in renewable energy and related innovations; committing to no investments in new thermal or metallurgical coal mines and new thermal coal-fired power plants.
  • Implementing Key2Wellness program for employee health and wellbeing; establishing MINDSET for mental health support.

Supply Chain Management

Responsible Procurement
  • Responsible sourcing of seafood, coffee, tea, vanilla, cocoa, and eggs by MOHG.
  • Collaboration with tenants to reduce single-use plastics by Hongkong Land.

Climate-Related Risks & Opportunities

Physical Risks
  • Typhoons, rainfall flooding, extreme heat
Transition Risks
  • Regulatory changes, market shifts towards sustainable practices
Opportunities
  • Investments in renewable energy and climate-resilient technologies.

Reporting Standards

Frameworks Used: WEF Stakeholder Capitalism Metrics, GRI Universal Standards 2021, TCFD Recommendations

Certifications: ISO 14001 (several Astra BUs), ISO 50001 (several Astra BUs), BEAM Plus (Hongkong Land, Hactl)

Third-party Assurance: PricewaterhouseCoopers (limited assurance on selected metrics)

Sustainable Products & Innovation

  • JEDI (AI-powered analytics platform for building energy optimization); BOB (craft beer from surplus bread).

Awards & Recognition

  • Jardines recognised as a Caring Company; JLA won five industry awards for excellence in learning programmes.

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:6234 Thousand tCO2e
Scope 1 Emissions:4839 Thousand tCO2e
Scope 2 Emissions:1395 Thousand tCO2e
Renewable Energy Share:39%
Total Energy Consumption:87804 Thousand GJ
Waste Generated:4542.9 Thousand Tonnes

ESG Focus Areas

  • Climate Change
  • Responsible Consumption
  • Social Inclusion
  • Caring for Colleagues
  • Governance for a Sustainable Future

Environmental Achievements

  • Hongkong Land achieved an SBTi-validated 2030 target for a 46.2% absolute reduction in scope 1 and 2 GHG emissions and a 22% per m2 reduction in carbon intensity for scope 3 GHG emissions by 2030 from 2019 levels.
  • Gammon and Hactl submitted commitment letters for near-term targets to SBTi.
  • DFI committed to 1.5°C-aligned scope 1 & 2 targets for 2030 and 2050, reducing scope 1 and 2 emissions by 10% from 2021.
  • Mandarin Oriental eliminated 99% of single-use plastic.
  • Maxim's MX outlets achieved 100% elimination of single-use plastics for dine-in.
  • 72% of the energy capacity of REE Corporation (JC&C strategic interest) was generated from renewables.
  • Gammon tested a new technology to reduce the overall carbon footprint of concrete by 5%.

Social Achievements

  • Jardine Foundation launched 2 new scholarship schemes.
  • MINDSET HK celebrated its 20th anniversary and channelled HK$10m to support 23 NGOs and 71,128 beneficiaries.
  • 33,000+ volunteer hours committed to the 3-pillar sustainability strategy.
  • US$45m community investment across the Group.
  • 84% internal fill rate for business leader positions.
  • Initiatives to support youth with disabilities, ethnic minorities, and those with special education needs.

Governance Achievements

  • Group-wide assessment of transition risks completed.
  • Improved scores from S&P Global and Sustainalytics.
  • Janine Feng joined the JMH Board, increasing gender diversity.
  • Michael Wu and Janine Feng joined the JMH Audit Committee, increasing independence.

Climate Goals & Targets

Long-term Goals:
  • Net-zero emissions by 2050 (implied).
Medium-term Goals:
  • Achieve 30% renewable energy by 2030 (implied)
  • Divert 80% of waste by 2030 (DFI).
  • Reduce 25% landfill/ incinerator waste intensity by 2025 (Gammon).
Short-term Goals:
  • Set decarbonisation targets with credible reduction pathways towards 2030.
  • Explore circular solutions across the Group.
  • Divert 50% of waste by 2025 (DFI).

Environmental Challenges

  • Overall increase in greenhouse gas emissions and energy usage in 2022 compared to 2021 due to post-pandemic business recovery.
  • Challenges in decarbonizing operations and setting medium-term targets considering business growth.
  • Managing transition risks related to changing regulation, technology, and markets.
  • Cybersecurity threats associated with increased reliance on digital systems.
Mitigation Strategies
  • Developing decarbonisation pathways for operational emissions.
  • Setting science-based targets aligned with climate science (SBTi).
  • Investing in renewable energy, electric vehicle markets, transition minerals, and low-carbon materials.
  • Conducting scenario analysis and climate risk assessments.
  • Implementing robust risk management framework.
  • Building a cybersecurity culture and strengthening controls.

Supply Chain Management

Supplier Audits: Ethical audits for own-brand suppliers in high-risk countries (DFI), Vendor-Scoring programme (Hongkong Land)

Responsible Procurement
  • Code of Conduct
  • Human Rights Policy
  • Sustainable/ Responsible Procurement Policies (several businesses)
  • Supplier Code of Conduct (several businesses)
  • Certification requirements (FSC, PEFC, Rainforest Alliance)

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme climate events
  • Shifting weather patterns
Transition Risks
  • Rising cost of energy
  • Carbon pricing schemes
  • Tightening climate-related regulations
Opportunities
  • Development of energy-efficient products
  • Investment in renewable energy

Reporting Standards

Frameworks Used: GRI Universal Standards, TCFD Recommendations, WEF Stakeholder Capitalism Metrics

Certifications: ISO 14001 (several businesses), ISO 45001 (several businesses), ISO 27001 (Maxim's Group and several Astra businesses)

Third-party Assurance: PricewaterhouseCoopers

UN Sustainable Development Goals

  • Not disclosed

Sustainable Products & Innovation

  • Water Loop refrigeration technology (DFI)
  • Battery-powered crawler crane (Gammon)
  • Biochar production (JEC)
  • Sustainable materials for uniforms (Maxim's)

Awards & Recognition

  • RICS Award 2022 for Corporate Social Responsibility Project of the year (Hongkong Land)
  • Brandon Hall Award Gold medal for Best Advance in Leadership Development (JLA)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:6.2 million tCO2e
Scope 1 Emissions:4,839 thousand tCO2e
Scope 2 Emissions:1,206 thousand tCO2e
Renewable Energy Share:41%
Total Energy Consumption:99,313 TJ
Waste Generated:4.4 million tonnes

ESG Focus Areas

  • Climate Action
  • Responsible Consumption
  • Social Inclusion

Environmental Achievements

  • -18% GHG emissions from businesses under the Decarbonisation Pathway over the past 2 years
  • 41% of Group total energy consumption in 2023 came from renewable sources
  • 94% diverted waste across the Group
  • -25% disposed waste from 2022
  • -4% total waste generated from 2022

Social Achievements

  • US$64m total community investment
  • US$5m in 55+ Jardine Foundation scholarships awarded
  • US$2m channelled towards mental health through MINDSET
  • 95,000+ volunteer hours contributed
  • 42.6% female representation for Executives and above (excluding Astra)

Governance Achievements

  • Integration of sustainability considerations into financial planning and forecasting
  • Sustainability updates provided twice a year to boards across the Group
  • Development of guidance and frameworks to integrate sustainability due diligence and carbon costs into the capital allocation process

Climate Goals & Targets

Long-term Goals:
  • Net-zero GHG emissions by 2050
Medium-term Goals:
  • All businesses to achieve 1.5°C-aligned scope 1 and 2 reduction targets by 2030 (Decarbonisation Pathway).
  • UT aims for a 30% reduction in emissions by 2030 compared to the 2019 baseline (Transition Pathway).
Short-term Goals:
  • Continue reducing scope 1 and 2 emissions based on decarbonisation roadmaps.
  • Better understanding of renewable energy use and cost impact.
  • Collect data on Scope 3 emissions.

Environmental Challenges

  • Decarbonisation may not be a straight line to net-zero emissions in 2050. Emissions may temporarily increase due to market conditions or business growth.
  • New technology may not deliver expected emissions reductions or may do so on longer timelines than anticipated.
  • The policy environment in our markets may not develop as quickly as hoped.
Mitigation Strategies
  • All businesses have developed detailed roadmaps with a focus on interim milestones, identifying opportunities around lower carbon fuels, renewable energy and electrification.
  • The Group will reconsider assumptions and adjust its approach as conditions change to ensure continued progress on decarbonisation.
  • Integration of climate risks into enterprise risk management process to inform business strategy and decision-making processes.

Supply Chain Management

Supplier Audits: DFI audited 94% of its own brand production facilities located in high-risk areas in 2023.

Responsible Procurement
  • Code of Conduct
  • Human Rights Policy
  • ESG criteria for evaluating new vendors (Gammon)
  • Sustainable sourcing practices (Mandarin Oriental, Wellcome)

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme heat
  • Sea level rise
Transition Risks
  • Carbon price
  • Energy price
  • Policies and regulations
Opportunities
  • Development of energy-efficient products
  • Investment in renewable energy and transition mineral extraction

Reporting Standards

Frameworks Used: UN Sustainable Development Goals, GRI, TCFD, SASB, World Economic Forum Stakeholder Capitalism Metrics

Certifications: ISO 14001 (several businesses), ISO 45001 (several businesses)

Third-party Assurance: PricewaterhouseCoopers (limited assurance)

Sustainable Products & Innovation

  • Innovative water loop refrigeration systems (DFI)
  • Innovative paint technology to reduce energy consumption (Astra)
  • Sustainable bento boxes (Wellcome)

Awards & Recognition

  • Social Enterprise Supporter Plus Award 2023 (Jardine Matheson Limited)
  • HKB National Business Awards 2023 for Energy (Maxim’s and Towngas)