As organisations around the world embark on their own carbon reduction journeys, we foresee that tracking and reporting emissions, carbon credits and sinks will face greater scrutiny – especially as carbon pricing becomes the norm.
Since 2019, we launched a Solar PV Proof-of-Concept to demonstrate how blockchain technology could be an immutable, secure and verifiable method of tracking carbon impact. In collaboration with Allinfra, we have been applying blockchain technology to enhance the development of sustainable infrastructure. The collaboration commenced with a pilot solar project in Lok Fu Place since February 2021 and has been extended to TKO Spot and Tai Yuen Commercial Centre. To date, we have identified 25 additional properties in our portfolio for further expansion of our rooftop solar PV initiative.
Following our announcement on April 2021 to achieve Net Zero carbon by 2035, we are increasingly cognizant of the need to accurately measure and report crucial ESG data, including the total amount of energy generated and tonnes of CO2 saved. Here are our latest updates:
Please visit our Net Zero Strategy webpage to understand our approach and roadmap to achieve the Net Zero goal by 2035.
As we pursue our medium-term goals outlined in Vision 2025 and to create value for our stakeholders and the communities we serve, we are pleased to ensure the integration of sustainability best practices into our daily operations by introducing sustainability-linked loan with our key relationship banks.
Our maiden sustainability-linked loan of AUD 212 million from DBS was announced on 22 Mar 2020, followed by the HK$1 billion sustainability-linked loan from OCBC Bank announced on 11 Jun 2020. To incentivise sustainable practices, the loan is structured to incorporate a reduced pricing structure with interest cost savings. Link will be eligible for the interest savings if it maintains its listing on leading global sustainability indices and achieves sustainability milestones based on performance in the annual independently assessed Global Real Estate Sustainability Benchmark (GRESB). GRESB is widely recognised to be the leading sustainability benchmark for real estate and infrastructure investments across the world.
The proceeds of the loan will be used for general corporate funding purposes including sustainability initiatives.
General Manager - Corporate Development & Strategy Calvin Lee Kwan was recently elected the Co-chair of the United Nations Environment Programme Finance Initiative (UNEP FI) Property Working Group (PWG) and a member of the UNEP FI Investment Committee. This is a two-year commitment, during which Link will steer the work and direction of the two groups, and act as a voice for the industry in the Asia-Pacific region. In the last five years, as a UNEP FI PWG member, Link has contributed to the formulation of global best practice guidelines on topics including measuring and reporting positive impact and incorporating environmental, social and governance factors in valuation. Most recently, Link has supported the efforts of the Task Force on Climate-related Financial Disclosures.
"Hong Kong Market", run by single-letting market operator Uni-China at Yat Tung Shopping Centre in Tung Chung, has reopened after a major facelift, featuring a 1960s-era Hong Kong décor. An eye-catching 11-metre-long aircraft model inside the market created by a well-known paper-crafting master helps visitors to relive the nostalgic scene of aeroplanes flying low over buildings in Kowloon City. Other attractions include the market's interior design, which showcases Hong Kong's past architecture, and a customer service counter in the guise of an old-time cinema ticket office.
In addition to providing a wide range of fresh market products at various price points to suit the needs of different shopper groups, the market now also offers a cooked food street. Other new services include e-membership, market DJ and daily discount offers.