Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Resource Efficiency
• Community Engagement
• Customer Satisfaction
• Employee Well-being
• Ethical Business Practices
• Sustainable Building Development

Environmental Achievements

• 26% reduction in GHG emissions in 2022
• 49% reduction in carbon emissions at HPML’s office from 2020
• 44% reduction in carbon emissions at HPML managed properties from 2018
• 100% of new development projects underwent Life Cycle Assessment
• 90% construction waste recycling rate at sites with double refuse chute system
• 46% decrease in total energy consumption at construction sites compared to 2021
• 49.5% decrease in GHG scope 2 emissions at construction sites compared to 2021
• Over 613,000 kWh generated by solar panels installed on properties in 2022

Social Achievements

• Reached over 1 million people through WLAB and Club Wheelock engagement
• Donated 4,000 COVID-19 rapid antigen test kits to those in need
• Provided 35,000 square feet of space for community vaccination centers
• Supported over 87,000 students through Project WeCan
• Achieved >95% customer satisfaction
• Served 1,211 repeat buyers in 2022
• Achieved >92% resident satisfaction and >93% tenant satisfaction

Governance Achievements

• Sustainalytics ESG Regional Top-Rated badge
• HKQAA CSR Index Plus for three consecutive years
• CDP disclosure completed
• 166 hours of training on corruption and bribery
• No reported cases of breaches of the Code of Conduct
• 18 HPML properties certified with ISO9001 and ISO10002

Climate Goals & Targets

Environmental Challenges

• Global geopolitical uncertainty impacting economic balance and supply chain
• Rising inflation and slowing growth
• Potential increase in climate change related risks to assets (typhoons, flooding, landslides)
• Transitional risks from tightened emissions regulations and increased renewable technology adoption

Mitigation Strategies

• Focus on resilience and prudence through liquidity creation, strengthening delivery, and sound financial management
• Integration of climate resilient features in buildings (energy saving measures, improved drainage)
• Adoption of renewable energy (solar panels)
• Establishing a roadmap to a low-carbon economy aligned with the Paris Agreement and SBTi recommendations
• Scenario analysis for climate-related risks and opportunities

Supply Chain Management

Supplier Audits: Regular assessments and reviews of sustainability performance; Supplier Code of Conduct

Responsible Procurement

• Supplier Code of Conduct
• Environmental and social performance assessments
• Clauses in contracts forbidding child and forced labour, discrimination, bribery, and corruption

Climate-Related Risks & Opportunities

Physical Risks

• Typhoons
• Flooding
• Rainfall-induced landslides
• Extreme heat

Transition Risks

• Tightened emissions regulations
• Increased adoption of renewable technology

Opportunities

• Development of energy-efficient products
• Adoption of renewable energy

Reporting Standards

Frameworks Used: GRI Universal Standards 2021, GRI G4 Construction and Real Estate Sector Disclosures, TCFD recommendations, AA1000 Stakeholder Engagement Standard

Certifications: ISO 9001, ISO 10002, ISO 14001, ISO 45001, BEAM Plus, LEED®

Third-party Assurance: Hong Kong Quality Assurance Agency (HKQAA)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Green buildings (BEAM Plus, LEED®)
• Smart home and smart control solutions

Awards & Recognition

• BCI Asia Top 10 Developers Award 2022
• RICS Corporate Social Responsibility Project of the Year 2022
• RICS Sustainability Award 2022
• GBA Low Carbon Buildings Top 100 Award
• Good MPF Employer 5 Years+
• Platinum Award in Special ESG Awards – Outstanding ESG Performer of the Year (Large Enterprise)
• Grand Award in Best Sustainability Report for Non-listed Company & Commendation Newcomer Award
• HKQAA CSR Index Plus Mark
• Sustainalytics ESG Risk Rating (Low-risk)
• LOOP+ by WWF Hong Kong

Environmental Metrics

ESG Focus Areas

• Creating a positive impact on the environment
• Delivering quality experiences & trusted partnerships
• Developing long-term enduring value

Environmental Achievements

• Achieved BEAM Plus Gold ratings for all new development projects for 8 consecutive years.
• 21.5% reduction in overall GHG intensity.
• Increased construction waste recycling rate to 69.4%
• 37% reduction in carbon emissions at Wheelock’s and HPML’s headquarters compared to 2022.

Social Achievements

• Engaged with over 1.19 million people through various initiatives.
• Achieved a total of 30 awards in service quality and ESG performance.
• Provided 19,351 housing units through transitional housing and Land Sharing Pilot Scheme (LSPS).
• Maintained a total workforce gender ratio of 1:1.08 (female: male).

Governance Achievements

• Sustainability-linked loans make up 49% of corporate loans.
• Successfully completed Carbon Disclosure Project (CDP) disclosure.
• Achieved four consecutive years of improved scores in the HKQAA CSR Index Plus.
• No reported instances of Code of Conduct violations.

Climate Goals & Targets

Environmental Challenges

• Weakened market sentiment and record low volume of property transactions.
• Potential increase in negative impacts due to climate change-related risks on assets.
• Increased severity of extreme weather events and the shift in climate pattern under warmer climate.

Mitigation Strategies

• Projects designed and constructed in alignment with building sustainability guidelines (BEAM Plus Gold and LEED Gold ratings).
• Implementation of electrification in construction, replacing diesel generators with grid electricity.
• Enhancement of climate resilience measures against climate risks.
• Regular review of contingency plans and protections at assets against extreme weather events.

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct; prequalification and tendering assessments; contract clauses prohibiting child/forced labor, discrimination, bribery, and corruption; regular assessments of sustainability performance.

Climate-Related Risks & Opportunities

Physical Risks

• Typhoons, flooding, rainfall-induced landslides, drought, extreme heat, coastal and pluvial flooding, heavy precipitation, river flooding, landslides, fire weather, tropical cyclones, sea level rise.

Transition Risks

• Tightened emissions regulations, increased adoption of renewable technology.

Opportunities

• Development of energy-efficient products, expansion of renewable energy adoption.

Reporting Standards

Frameworks Used: GRI Universal Standards 2021, HKEX ESG Reporting Guide, TCFD recommendations

Certifications: BEAM Plus, LEED, ISO 9001, ISO 10002, ISO 14001, ISO 45001, IAQwi$e, Wastewi$e

Third-party Assurance: Hong Kong Quality Assurance Agency (HKQAA)

UN Sustainable Development Goals

• Not disclosed

Sustainable Products & Innovation

• Green buildings (BEAM Plus Gold and LEED Gold ratings); use of green and reclaimed materials; prefabrication and Modular Integrated Construction (MiC) methodology.

Awards & Recognition

• See Appendix III for a complete list of awards.