23 December 2022

Henderson Land Commits to the Science Based Targets Initiative (SBTi) by Setting Emissions Reduction Targets Grounded in Climate Science

Henderson Land Development Company Limited (“Henderson Land” or “the Group”) (Stock code: 12) is pleased to announce its commitment to the Science Based Targets initiative (SBTi) by setting emissions reduction targets grounded in climate science to support the Paris Agreement, which is aimed at keeping the rise in global temperature to well below 2°C above pre-industrial levels and at pursuing efforts to further limit global warming to 1.5°C.

The SBTi is a collaborative effort by the United Nations Global Compact (UNGC), the World Resources Institute (WRI), Carbon Disclosure Project (CDP) and the World Wide Fund for Nature (WWF), seeking to provide a framework for businesses to participate in science-based target setting consistent with the Paris Agreement.

Sustainability is at the heart of Henderson Land’s business strategy. In an effort to combat climate change, the Group has pledged to set Scope 1, 2 and 3 reduction targets on greenhouse gas emissions, echoing its 2030 Sustainability Vision.

When developing the reduction targets, the Group will conduct a comprehensive review of its major properties and construction activities in Hong Kong and mainland China, and will continue to work closely with its stakeholders across the value chain. By tackling the materials, building services systems and construction methods of its construction projects, the Group strives to reduce carbon emissions throughout a building’s life cycle, while implementing a low-carbon operational model by optimising energy management at different levels of the business, promoting renewable energy and improving waste management.

Committed to fighting climate change, the Group has established its 2030 Sustainability Vision. In 2021, the Group set new energy intensity targets by pledging to reduce the energy intensity of its Hong Kong property portfolio from baseline year 2019 by 20% — and the electricity consumption of its mainland China property portfolio from baseline year 2021 by a cumulative 10% — by 2030.

Henderson Land’s leading position in sustainable development has been widely recognised on both local and international levels. In November, the Group won the prestigious Business Leadership in Sustainability Award at the Asia Pacific Leadership in Green Building Awards 2022, organised by the World Green Building Council (WorldGBC). At the biennial Green Building Award 2021 jointly organised by the Hong Kong Green Building Council (HKGBC) and the Professional Green Building Council (PGBC), the Group bagged a total of six accolades, including the Pioneer Award in Green Building Leadership (Developer), the industry’s top honour, and the Grand Award (New Buildings Category: Projects Under Construction and/or Design - Commercial), which was attributed to The Henderson, the Group’s highly anticipated flagship commercial development at Murray Road, Central.

Henderson Land has also received a 4-star performance rating and an A-grade disclosure rating from the Global Real Estate Sustainability Benchmark (GRESB), an AA+ grade from the Hong Kong Quality Assurance Agency (HKQAA) Sustainability Seal, and a Low-risk rating from Sustainalytics. In addition, the Group was ranked among the Top 10 companies in both the 7th Hong Kong Business Sustainability Index (HKBSI) and the 3rd Greater Bay Area Business Sustainability Index (GBABSI).