Climate Change Data

Link Real Estate Investment Trust

Climate Impact & Sustainability Data (2021-2022)

Reporting Period: 2021-2022

Environmental Metrics

Total Carbon Emissions:120,715 tCO2e/year
Scope 1 Emissions:9,222 tCO2e/year
Scope 2 Emissions:111,435 tCO2e/year
Scope 3 Emissions:48,510 tCO2e/year
Renewable Energy Share:1%
Total Energy Consumption:250,840 MWh/year
Water Consumption:1,657,889 m3/year
Waste Generated:39,419 tons/year
Carbon Intensity:0.029 tonnes CO2e/sq m

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • 15.1% reduction in carbon emissions intensity (Scope 1 & 2) compared to the 2018/2019 baseline
  • Reached 86.5% green building certification coverage, compared to 71.2% in 2020/2021
  • 4.0% reduction in general water use intensity compared to the baseline
  • 6.7% general waste recovered/recycled, compared to 6.4% in 2020/2021
  • 1,149 tonnes of organic waste recovered
  • The Cabot (UK property) was 100% powered by renewable electricity

Social Achievements

  • Completed employee engagement survey with 87% response rate and overall score of 3.9
  • Achieved an average of 18.7 hours of training per staff
  • Completed tenant satisfaction survey with a satisfaction score of over 4.0 out of 5.0
  • Link Together Initiatives committed HK$15.5M supporting eight community projects and 220 students under Link University Scholarship
  • Launched pilot of Local Employment Initiative

Governance Achievements

  • Maintained a diverse Board
  • Issued new Sustainable Finance Framework requiring all sustainability-linked transactions to include E, S, G KPIs
  • Executed HK$12 billion sustainability-linked loan with E, S, G KPIs
  • Updated Responsible Investment Policy
  • Climate disclosures in full compliance with TCFD recommendations and with mapping to ISSB Climate Exposure Draft

Climate Goals & Targets

Long-term Goals:
  • Net Zero carbon emissions by 2035
Medium-term Goals:
  • Net Zero carbon emissions (Scope 1 & 2) by 2035
  • 30% reduction in electricity intensity by 2035
  • 100% renewable energy adoption by 2035
Short-term Goals:
  • 25% reduction in carbon emissions intensity (Scope 1 & 2) by 2025/2026
  • 5% reduction in electricity intensity by 2025/2026
  • 100% green building certification coverage by 2025/2026
  • 50% green lease adoption in Hong Kong and Mainland China by 2026/2027
  • >10% housekeeping and security staff hired locally from underprivileged groups by 2026/2027 in Hong Kong

Environmental Challenges

  • Supply chain disruptions due to COVID-19, particularly affecting recyclable materials
  • Increased electricity intensity in Hong Kong portfolio due to government measures requiring increased air change and higher than average number of hot days
Mitigation Strategies
  • Developed alternative sourcing strategies for Styrofoam recycling, achieving nearly 60% recycling rate
  • Implemented energy management systems and other energy-saving initiatives to offset increased electricity consumption

Supply Chain Management

Supplier Audits: 105 top suppliers reviewed annually

Responsible Procurement
  • Supplier Code of Conduct
  • Procurement Policy
  • Prioritization of suppliers with internationally recognized management systems and sustainability policies

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding
  • Rising temperatures
Transition Risks
  • Policy and legal changes
  • Technological changes
  • Market shifts
  • Reputational risks
Opportunities
  • Green building enhancements
  • Use of lower-carbon energy sources
  • Improved stakeholder relations
  • Increased resilience
  • Access to capital

Reporting Standards

Frameworks Used: GRI Standards – Core Options, International Integrated Reporting Framework, TCFD, ISSB Exposure Draft IFRS S2 Climate-related Disclosures

Certifications: Null

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

UN Sustainable Development Goals

  • SDG 9
  • SDG 11
  • SDG 17

Focus on industry, innovation, infrastructure, sustainable cities and communities, and partnerships.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • GRESB Green Star rating (10 consecutive years)
  • Inclusion in DJSI Asia Pacific Index, FTSE4Good Index Series, Hang Seng Corporate Sustainability Index
  • Various other awards listed in the report