Leveraging Blockchain Technologies to Support Net Zero

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:

  • We are closely monitoring how energy optimisation improvements can come with adopting digital solutions. In the future, we expect the implementation of Allinfra’s digital Renewable Energy Certificates, or dRECs, will offer us real-time, transparent and credible electricity data tracking and environmental impact, allowing easy auditing and verification.
  • We are proactively exploring solar PV expansion within portfolio. Apart from the 28 properties identified previously, we are undergoing a second round of technical feasibility assessment for further installation across the remaining 99 properties in Hong Kong.
  • As part of our Business as Mutual approach, we are keen to educate and influence stakeholders across our value chain to support and facilitate low-carbon collaboration. This can create system-wide impact for our community to transition towards Net Zero together.

 

Please visit our Net Zero Strategy webpage to understand our approach and roadmap to achieve the Net Zero goal by 2035.  

 

 

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