We aim to optimize our use and management of natural resources, including energy, water and materials. Energy efficiency can lead to significant cost savings, and water scarcity is an important issue in many of the cities where we have properties. In general, responsible resource management constitutes good corporate citizenship and benefits our communities. Our efforts to use resources responsibly will encompass all our activities and materials and help support the transition to a circular economy.
2030 Goal
Accelerate the transition to a circular economy by minimizing resource consumption and maximizing recycling.
2030 Targets
- Incorporate circular building principles in new properties
- Implement water management program in all properties
- Divert 90% of waste from landfill
25 x 25 Sustainability Targets
- 60% of construction waste diverted from landfill for new projects starting in 2022 with maximized recycling
- Demonstrate best efforts to maximize the use of recycled, reused and bio-based materials on all new projects
- 10% reduction in water intensity (m3/m2/year) relative to 2018
- 70% of operational waste diverted from landfill
Energy Management
In 2021, we established a target to achieve an 18% reduction in electricity intensity by 2025, compared to our 2018 baseline. As of the end of 2023, we reduced our electricity intensity by 13.7% compared to the 2018 baseline.
Examples of initiatives contributing to the enhanced energy efficiency of our portfolio include:
- Upgrading Building Management Systems
- Major asset enhancements to improve operational efficiency, including chiller upgrades, lift replacement and lighting retrofits
- Retro-commissioning
- Optimization of major building facilities’ operating schedules
Waste Management
The bulk of our waste is generated through the operation of our properties and tenants. We have adopted a variety of measures to divert waste from landfill and facilitate recycling at our properties, including but not limited to:
- Regular collection services for key recyclables, including paper, plastics, metal and glass bottles
- Food waste collection services for F&B tenants at selected properties in Hong Kong, such as Amoy Plaza and Kornhill Plaza; and for all properties in mainland China;
- Umbrella dryers at selected commercial properties in Hong Kong to reduce the consumption of plastic umbrella bags
- Paperless parking system in mainland China, which is estimated to avoid at least 6.4 million tickets annually
Water Management
Hang Lung recognizes water scarcity as a severe global challenge, and most of the cities in which we operate are in areas with water stress. To cope with this foreseeable challenge, we have adopted a wide range of measures to reduce water consumption at our properties, including installing water-efficient fittings and rolling out initiatives to raise awareness on water conservation among our employees, customers and tenants.
