Henderson Land Completes Its First Carbon Credit Transaction on HKEX’s Core Climate

Henderson Land Development Company Limited (“Henderson Land” or “the Group”) (Stock code: 12) announced that it has completed its first carbon credit transaction on Hong Kong Exchanges and Clearing Limited (“HKEX”)’s Core Climate. As one of the first corporate users of the platform, Henderson Land supports the global transition to net zero for a more sustainable future.

Launched by HKEX in October 2022, Core Climate is a new international carbon marketplace that seeks to connect capital with climate-related products and opportunities in Hong Kong, mainland China, Asia and beyond. In December this year, Henderson Land purchased a batch of high-quality voluntary carbon credits that were generated from a wind energy project in mainland China and certified by the Verified Carbon Standard (VCS) by Verra, an international standard setter. This marked Henderson Land’s transaction of voluntary carbon credits for the first time — and an important milestone in its efforts to promote a low-carbon economy in Hong Kong.

With a continued focus on driving sustainable development and tackling climate change, Henderson Land has recently announced its commitment to the Science Based Targets initiative (SBTi) by setting emissions reduction targets grounded in climate science. Echoing its 2030 Sustainability Vision, the Group has pledged to set Scope 1, 2 and 3 reduction targets on greenhouse gas emissions. In addition to being a partner of the Hong Kong Government’s Carbon Neutrality initiative, the Group established new energy intensity targets in 2021 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.