Targets
Status
Conduct climate risk assessments across our portfolio and develop corresponding climate resilience strategies
Engage with investors and regional-level policymakers to develop comprehensive climate resilience strategies
Reducing our carbon footprint and reinforcing climate resilience remain our priority. Increase in frequency and severity of extreme weather events makes it indispensable for businesses to formulate longer-term resilience and adaptation strategies.
We regularly examine the resilience of our properties to withstand extreme climate-related events by conducting industry-and geography-specific assessments, as well as conducting research to understand climate-related regulations at national and international levels.
Our disclosures align with the latest version of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and the International Sustainability Standards Board (ISSB) Exposure Draft IFRS S2 Climate-related Disclosures (ISSB Climate Exposure Draft) in March 2022 to enable transparent, consistent, comparable, and verifiable climate-related information.
Conduct climate risk assessments across our portfolio and develop corresponding climate resilience strategies
Engage with investors and regional-level policymakers to develop comprehensive climate resilience strategies
Achieved
On Track
Lagging Behind
Not Commenced
Chai Wan Car Service Centre
During the early stage of due diligence for our Chai Wan property acquisition, flood risk was identified as the primary physical climate risk due to its proximity to the seafront. Different business units were brought into the discussion to understand and evaluate the asset’s vulnerability, mitigation options, costs, and potential insurance risk prior to acquisition. The final investment plan included flood mitigation measures, transfer of risks upon completion of acquisition and identified required updates to standard operating procedures.