Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social

Environmental Achievements

• Minimized environmental impacts by carefully managing energy consumption, water usage, property design and waste production.
• Implemented eco-friendly initiatives such as switching off lights during lunch hours, setting air-conditioning at optimal temperature, pre-setting printers to two-sided printing mode, and promoting reuse and recycle of paper.

Social Achievements

• Complied with relevant labour standards and employment laws and regulations.
• Provided a healthy and safe workplace for its employees.
• Developed a Training Policy to govern training related matters and allocated sufficient resources for staff development.
• Established a policy to prohibit child and forced labour.
• Established a contract policy and corresponding evaluation procedures to govern the selection of suppliers and construction contractors.
• Established relevant policies to ensure compliance with applicable laws and regulations and to fulfil its corporate responsibility towards the customers.
• Closely monitored the development projects at every stage to ensure that project development, construction process and product quality are in compliance with applicable laws and regulations.
• Created a corporate culture that embraces integrity, honesty and fairness, and is committed to conducting its business in the absence of any undue influences.

Governance Achievements

• Applied the principles and the code provisions as set out in the Corporate Governance Code.
• Established three committees: Nomination Committee, Remuneration Committee, and Audit Committee.
• Adopted a board diversity policy.

Climate Goals & Targets

Environmental Challenges

• Severe downturn in the property market in Guangzhou and Mainland China.
• Risk factors distinctive to property development and property related businesses (e.g., default on the part of buyers, tenants, subtenants, contractors, and strategic business partners).
• Slowdown in foreign trade and tough competition from e-commerce business impacting tenants in traditional wholesale industry.

Mitigation Strategies

• Closely monitored market condition and formulated selling plan from time to time.
• Diversified investment to difference sectors and geographic locations.
• Maintained a relatively low gearing ratio.
• Implemented internal control system and had experienced staffs in different business functions.
• Offered rental discounts for the short and medium term to retain tenants.
• Continued efforts to boost future rental income through participation in exhibitions, conducting professional market researches, and procuring completion of refurbishment of certain floors.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Engaged suppliers and construction contractors with licenses granted by relevant regulators or government authorities.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental
• Social

Environmental Achievements

• Implemented eco-friendly initiatives such as switching off lights during lunch hours, setting air-conditioning at optimal temperature, pre-setting printers to two-sided printing, and placing recycling boxes in the office.

Social Achievements

• Complied with relevant labor standards and employment laws and regulations; provided a healthy and safe workplace for employees; emphasized employee development and provided internal and external training; established a policy to prohibit child and forced labor; maintained good relationships with customers and suppliers.

Climate Goals & Targets

Environmental Challenges

• Economic downturn and industrial transfer affected the rental market, resulting in reduced occupancy rates; uncertainties brought about by trade disputes affected the overall economies in China; the novel coronavirus epidemic significantly affected consumers’ income, confidence, and the capital market.

Mitigation Strategies

• Implemented various marketing activities and refurbished properties to improve rental market performance; commenced presale of logistics projects to speed up cash recovery; closely monitored the after-effects of the epidemic and strived for destocking, refinancing, and securing resources for project development.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Engaged suppliers and construction contractors with licenses granted by relevant regulators or government authorities; established a contract policy and corresponding evaluation procedures; required suppliers and contractors to follow the Group’s Code of Conduct.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed