Ho Bee Land Limited
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:5284 tCO2e
Scope 1 Emissions:2154 tCO2e
Scope 2 Emissions:3130 tCO2e
Total Energy Consumption:10,411,236 kWh
Water Consumption:45,085 m3
Waste Generated:1,371,000 kg
Carbon Intensity:0.07 tCO2e/m2
ESG Focus Areas
- Enhancing Economic Value
- Contributing to a Sustainable Environment
- Developing our People
- Enriching our Communities
- Strengthening Corporate Governance
Environmental Achievements
- Reduced total Greenhouse Gas emissions by 7%
- Reduced electricity intensity by 15% in FY2023 from FY2022
- Secured £376 million Green loan for Ropemaker Place and $450 million Green loan for The Metropolis
Social Achievements
- Increased average training hours per employee by 57% in FY2023 from FY2022
- Maintained a stable workforce in FY2023 and recorded a lower turnover rate
- Increased CSR expenditure by S$765,000 (28.9% increase from FY2022)
Governance Achievements
- Established a Board Sustainability Committee comprising four Independent Directors
- Maintained a record of zero incidents of corruption in FY2023
- Publicly pledged commitment at the Securities Investors Association (Singapore)’s Corporate Governance Statement of Support 2023
Climate Goals & Targets
Long-term Goals:
- Achieve net-zero emissions by 2050
Medium-term Goals:
- Setting a medium-term decarbonisation target to FY2030
Short-term Goals:
- Achieve an 18% reduction in GHG emissions (Scope 1 and 2) by FY2026
Environmental Challenges
- Colder winter in London in 2023 leading to increased natural gas consumption
- Power outage at The Metropolis requiring diesel to fuel backup generators
- Heightened uncertainties in global markets and geopolitical environment impacting business outlook and sustainability progress
Mitigation Strategies
- Implementing new energy efficiency initiatives across properties
- Developing short-term decarbonisation targets (18% reduction in GHG emissions by FY2026)
- Reviewing building efficiency and obtaining green certificates where possible
Supply Chain Management
Climate-Related Risks & Opportunities
Physical Risks
- Heat stress
- Floods (riverine and coastal)
- Urban floods
- Water scarcity
Transition Risks
- Policy and regulations
- Technology
- Market
- Reputation
Opportunities
- Development and availability of new lower GHG emitting technologies
- Decreased grid reliance and energy usage
- Lower cost of capital due to compliance to environmental policies and regulations
- Increased valuation due to ‘greenium’
Reporting Standards
Frameworks Used: GRI Standards 2021, TCFD
Awards & Recognition
- Water Efficiency Awards 2024 (The Metropolis)
- National Arts Council’s Patron of the Arts (Corporate) Award