Climate Change Data

Tsim Sha Tsui Properties Limited

Climate Impact & Sustainability Data (2021-07 to 2022-06)

Reporting Period: 2021-07 to 2022-06

Environmental Metrics

Total Carbon Emissions:189,071.5 tCO2e/year (Scope 1,2 & 3 combined)
Scope 1 Emissions:23,735.5 tCO2e/year
Scope 2 Emissions:189,071.5 tCO2e/year
Scope 3 Emissions:2,099.9 tCO2e/year
Renewable Energy Share:0.21%
Total Energy Consumption:275,329,545 kWh/year
Water Consumption:1,480,570 m3/year
Waste Generated:75,288.0 tons/year
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Green Living
  • Innovative Design
  • Community Spirit
  • Governance

Environmental Achievements

  • Exceeded initial target of reducing GHG emissions by 30% from 2012 baseline by 2030 (achieved 39.68% reduction)
  • Reduced single-use plastic consumption by 64.74% across all business lines from 2017 baseline
  • Reduced water consumption intensity by 12.59% from 2018 baseline

Social Achievements

  • Sino Caring Friends organised over 320 activities providing services for over 299,000 less-resourced elderly, children and youth and over 5,500 families, contributing over 186,530 volunteer service hours
  • Launched Sino Sustainability Academy, accumulating 3,198 learning hours during the reporting period
  • Launched Hong Kong’s first Green Mortgage Plan with BOCHK

Governance Achievements

  • Became the first property developer in Hong Kong to join the global coalition of business leaders implementing WEF’s Stakeholder Capitalism Metrics
  • Established a holistic decarbonisation blueprint to achieve net zero carbon by 2050
  • Engaged an independent consultant to conduct an in-depth ESG risk assessment

Climate Goals & Targets

Long-term Goals:
  • Achieve net zero carbon emissions by 2050
Medium-term Goals:
  • Reduce Scope 1 and 2 GHG emissions per square metre by 53.1% from 2018 baseline by 2030
  • Reduce electricity intensity by 30% from 2018 baseline by 2030
  • Achieve renewable energy generation of 6,000,000 kWh from the 2012 level by 2030
  • Divert 50% of commercial waste from landfill by 2030
  • Obtain BEAM Plus Gold or above certification at 100% of wholly-owned new development projects by 2030
  • 50% of approved suppliers to obtain recognised ISO/ESG/EHS standards by 2030
Short-term Goals:
  • Reduce water consumption intensity by 20% from 2018 baseline by 2030
  • Purchase 60% of seafood from sustainable sources by 2025
  • Improve the wellbeing of 5,000 less-resourced families by 2025
  • 100% of approved suppliers to adhere to Sustainable Procurement Policy by 2025
  • 100% of employees to receive ESG training by 2025

Environmental Challenges

  • Extreme weather conditions
  • Stringent regulations to manage waste
  • Competitive market with increasing demand for sustainable buildings
  • Cybersecurity threats
  • Economic performance impacts stakeholder interests
  • Managing waste plastic
Mitigation Strategies
  • Developed a Decarbonisation Blueprint to achieve net zero carbon by 2050
  • Developed alternative sourcing strategies (e.g., EcoBricks)
  • Strengthened information security measures
  • Selective land bank replenishment and diversification of investments
  • Implemented waste management systems
  • Implemented innovative sustainable design features

Supply Chain Management

Supplier Audits: 100% of approved suppliers governed by Contractor/Supplier Code of Conduct

Responsible Procurement
  • Contractor/Supplier Code of Conduct
  • Sustainable Procurement Policy

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events
  • Heatwaves
  • Rising temperatures
  • Rising sea levels
Transition Risks
  • Changing building codes and standards
  • Limited supply of low-carbon construction materials
  • Renewable energy growth
  • Consumer preference for sustainable properties
  • Growth in sustainable finance
Opportunities
  • Reduced operating costs from energy-efficient and climate-resilient buildings
  • Development of energy-efficient products
  • Attraction of green investment

Reporting Standards

Frameworks Used: GRI Standards: Core option, HKEX ESG Reporting Guide, WEF Stakeholder Capitalism Metrics, SASB Standard for the Real Estate Sector, TCFD recommendations

Certifications: ISO 9001, ISO 14001, ISO 10002, ISO 45001, ISO 41001, ISO 50001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • EcoBricks
  • Green mortgages

Awards & Recognition

  • Sustainalytics ESG Regional Top Rated 2022
  • MSCI ESG Ratings A Rated
  • Hang Seng Corporate Sustainability Index Series
  • Numerous other awards listed in the report