25 x 25 Sustainability Targets

Following the announcement in 2020 of our 2030 Sustainability Goals and Targets, in 2021 Hang Lung established 25 targets to be achieved by the end of 2025 (“25 x 25 Sustainability Targets” or “25 x 25”). The 25 x 25 Sustainability Targets address the four priorities outlined in Hang Lung’s Sustainability Framework: Climate Resilience, Resource Management, Wellbeing and Sustainable Transactions. These targets define concrete and quantifiable measures to address significant sustainability challenges and provide our employees with a clear agenda over the next four years.

Priority

 25 x 25

Climate Resilience

  1. 40% cumulative reduction in GHG intensity (kg CO₂e/m2) relative to 2018
  2. 18% cumulative reduction in electricity intensity (kWh/m2) relative to 2018
  3. 25% of our mainland China portfolio electricity demand met by renewable energy
  4. Wherever feasible exceed local regulations for the provision of parking spaces installed with EV charging facilities across our portfolio
  5. Demonstrate best efforts to achieve at least 10% reduction in embodied carbon intensity (kg CO₂e/m2) for new development project that begin in 2022 or later, compared to typical practice in an equivalent building
  6. 15% reduction in GHG intensity (kg CO₂e/m2) from tenants’ electricity consumption for our properties in mainland China, relative to 2018
  7. Complete technical analysis for climate adaptation measures for all properties

Resource Management

  1. 60% of construction waste diverted from landfill for new projects starting in 2022 with maximized recycling
  2. Demonstrate best efforts to maximize the use of recycled, reused and bio-based materials on all new projects
  3. 10% reduction in water intensity (m3/m2/year) relative to 2018
  4. 70% of operational waste diverted from landfill

Wellbeing

  1. Achieve an employee engagement rating greater than or equal to the 75thpercentile
  2. Maintain Female-to-Male pay ratio of 1:1
  3. Conduct an audit of all our properties and corporate practices on how to enhance wellbeing and opportunities for persons with disabilities
  4. Obtain local or international health and wellness certification for all our existing Mainland properties
  5. Obtain WELL Gold certificate or equivalent for at least one new property in Hong Kong and mainland China
  6. Deliver priority ESG training targeted to all departments and seniority levels
  7. Maintain a Lost Time Injury Rate of 1.5 or below for employees
  8. Maintain zero work-related fatalities for employees and contractors
  9. Work with youth on wellbeing community initiatives at all properties by 2025

Sustainable Transactions

  1. Embrace technology to build a robust digital platform for assessing suppliers’ ESG performance
  2. 100% of marketing events evaluated for their sustainability impacts
  3. 100% of leases incorporate sustainability provisions
  4. 50% of total debts and available facilities from sustainable finance
  5. 100% of potential asset acquisitions include ESG due diligence