Wang On Properties Limited
Climate Impact & Sustainability Data (2021-04 to 2022-03, 2023-04 to 2024-03)
Reporting Period: 2021-04 to 2022-03
Environmental Metrics
Total Carbon Emissions:216.4 tCO2e
Scope 1 Emissions:95.3 tCO2e
Scope 2 Emissions:121.1 tCO2e
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:6,615,786 MWh
Water Consumption:20,668 m3
Waste Generated:1,410 tons (hazardous); 3,613 tons (non-hazardous)
Carbon Intensity:Not disclosed
ESG Focus Areas
- Robust Governance
- Sustainable Places
- Thriving People
Environmental Achievements
- 25% of our development portfolio is green building certified by GFA in 2022.
- 2 buildings with BEAM Plus green building certification
Social Achievements
- 96% response rate in employee satisfaction survey (excluding Goodtech)
- Contractor Injury Rate (case(s) per 100 workers) of 0.97
- approximately HK$9.3 million in Community Investment
- 114 people Staff Volunteers
- 13% increase in Training Hours compared to previous year
Governance Achievements
- Established group-wide ESG committee in 2022
- Participated in annual GRESB assessment
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Set 2027 energy, carbon, water targets for property management assets with action plan
- Achieve 100% BEAM Plus certification (minimum Bronze) for development project portfolio by GFA by 2027
- Set 2027 waste targets for property management assets with action plan
- Maintain portfolio-wide contractor injury rate below 2 cases per 100 workers by 2027
- Raise average training hour to 6 per employee by 2027
Short-term Goals:
- Develop Climate Resilience Design Guidelines by 2025
Environmental Challenges
- Supply chain disruptions due to climate events (implied)
- Contractor safety incidents (increase of 25% compared to last year)
Mitigation Strategies
- Developed alternative sourcing strategies (implied)
- Provided occupational safety booklet to enhance safety awareness of employees at work
- Conducting preliminary energy ratings for managed properties to inform energy and carbon reduction target setting
- Establishing robust waste recycling systems ahead of the Municipal Waste Charging Scheme
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- All suppliers and contractors must meet the quality, environment and safety standards set out by the Group
- Integrate contractor ESG Assessment in tender process and monitoring
Climate-Related Risks & Opportunities
Physical Risks
- extreme weather threatening building structures and safety
Transition Risks
- risks of transitioning to a low-carbon economy
Opportunities
- exploring renewable energy generation capacity in building design
Reporting Standards
Frameworks Used: GRESB
Certifications: BEAM Plus
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Caring Company Logo 2021/22
Reporting Period: 2023-04 to 2024-03
Environmental Metrics
Total Carbon Emissions:1062.46 tCO2e (development projects) + 2431.57 tCO2e (managed properties) + 54.87 tCO2e (office)
Scope 1 Emissions:17.41 tCO2e
Scope 2 Emissions:37.47 tCO2e
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:159,485.55 kWh (office) + 6,178,738.65 kWh (managed properties) + 3,968,194.14 kWh (development projects)
Water Consumption:97.35 m3 (office) + 38,079.99 m3 (managed properties) + 15,062.00 m3 (development projects)
Waste Generated:0.156 tons (hazardous, development projects) + 647.85 tons (non-hazardous, managed properties) + 30,631.08 tons (non-hazardous, development projects)
Carbon Intensity:0.07 tCO2e/m2 (office); 0.04 tCO2e/m2 (managed properties); 0.02 tCO2e/m2 (development projects)
ESG Focus Areas
- Robust Governance
- Sustainable Places
- Thriving People
Environmental Achievements
- 1 building obtained LEED certification, 7 buildings are certified under BEAM Plus, and 3 buildings have provisional certification
- Electricity consumption decreased by approximately 7.77% compared to FY2022/2023
Social Achievements
- Approximately HKD2 million in community investment
- 100% response rate in employee satisfaction survey
- Achieved a 4-Star rating for the Development Benchmark and ranked 3rd in peer comparison in the 2023 GRESB assessment
Governance Achievements
- Established an anti-fraud and whistleblowing mechanism
- Annual anti-corruption training for directors and employees
- No corruption lawsuits filed against the Group or its employees during the year
Climate Goals & Targets
Long-term Goals:
- Net-zero carbon emissions in alignment with Hong Kong’s Climate Action Plan 2050
Medium-term Goals:
- Achieve 100% BEAM Plus certification (minimum Bronze) for development project portfolio by GFA by 2027
- Set 2027 energy, carbon, water targets for property management assets with action plan
Short-term Goals:
- Develop Climate Resilience Design Guidelines by 2025
Environmental Challenges
- Quality and safety issues from contractors failing to meet satisfactory levels
- Climate change physical risks (flooding, typhoons, landslides)
- Climate change transition risks (regulatory changes, technological advancements, market shifts)
- Compliance with laws and regulations
Mitigation Strategies
- Standardised quality assurance standards for construction projects; post-completion reviews; annual contractor performance assessments
- Energy audits; energy and carbon reduction targets; 100% green building certification target by 2025
- Development of Climate Resilience Design Guidelines by 2025; energy reduction modelling for new projects; renewable energy systems in new projects
- Regular reviews of work practices and compliance; strengthening policy implementation
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- All suppliers and contractors must meet quality, environmental, and safety standards
Climate-Related Risks & Opportunities
Physical Risks
- Flooding
- Typhoons
- Landslides
- Gradual changes in climate (temperature shifts, water availability, rising sea levels)
Transition Risks
- Stricter emissions reporting and regulations
- Higher environmental standards and energy efficiency requirements
- Technological advancements in green building practices
- Market shifts towards sustainable development
- Reputational damage from not being perceived as sustainable
Opportunities
- Growing demand for environmentally friendly and energy-efficient properties
Reporting Standards
Frameworks Used: GRESB
Certifications: LEED, BEAM Plus
Third-party Assurance: Independent third-party data review (not assurance/verification)
UN Sustainable Development Goals
- Not disclosed
Each ESG focus area contributes to the advancement of the United Nations Sustainable Development Goals (UNSDG)
Sustainable Products & Innovation
- Energy-efficient appliances and equipment
Awards & Recognition
- 4-Star rating for the Development Benchmark in the 2023 GRESB assessment
- Caring Company Logo 2023/24 by The Hong Kong Council of Social Service
- Other awards listed in Sustainability Highlights section