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Home Sustainability Environment
Decarbonisation

We all have a part to play in decarbonisation.

We recognise our role in reducing carbon emissions to slow down climate change and we commit our resources, technology and leadership influence to get behind this cause and to make direct reductions in our operations.

We all live on one planet so the challenge of tackling climate change and reducing carbon emissions is one we involve everyone in. From our tenants, vendors, service providers and talented younger generation whose futures climate change will have most impact, we believe that everybody can make a difference.

Six Levers for Long-Term Decarbonisation

Six Levers EN 
ImageMobile

Our decarbonisation strategy is built on six core levers that allow us to navigate operational realities, regulatory diversity and capital constraints across jurisdictions:

1. Energy Efficiency

This is the foundation. From HVAC optimisation and chiller upgrades to LED retrofits and control system automation, we continue to drive down energy intensity at scale. Our EMS deployment programme, layered on 15 years of energy optimisation work, gives us a cost-efficient, high-control starting point.

 

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2. On-Site Renewables

We are scaling rooftop solar PV across our portfolio, with priority given to assets offering viable roof space and structural suitability. We are also exploring lightweight and flexible solar systems that reduce load while preserving rooftop usability.

3. Green Power Procurement

In jurisdictions where on-site generation is not viable, we are expanding our use of RECs and green electricity contracts. Our decisions here are influenced by both supplier readiness and the projected pace of grid decarbonisation, which varies widely across APAC markets.

4. Carbon-Related Investments (Insets)

We are open to exploring investment opportunities in carbon sinks and removals, such as building-integrated insets and nature-based solutions that can be tied to our assets. Over the long term, we believe these will form part of our future carbon balance sheet.

5. Fuel Mix Optimisation

Fuel mix optimisation addresses decarbonisation through two key approaches: adapting to regional grid transition timelines; and reshaping energy demand via electrification. By incorporating these considerations into our market expansion and electricity procurement choices, we ensure emissions reduction even when policy-driven improvements are slow.

6. High-Integrity Offsets (For Residual Emissions)

Offsets are only considered for genuinely hard-to-abate emissions. We favour credits tied to emission avoidance (e.g. organic waste diversion or methane capture) and continue to explore self-generated credits within our own operations. We do not rely on offsets to meet near-term targets and view them as a backstop, not a strategy.

Targets
Status

25% reduction in carbon intensity (Scope 1 & 2) by 2025/2026 (compared to 2018/2019 baseline)

Achieved

100% renewable energy adoption across our portfolio by 2035(1)

On Track

(1)To cover our electricity footprint via renewable energy on-site generation and off-site procurement, purchase of renewable energy certificates and direct investments in renewable energy.

Achieved Achieved On Track On Track Lagging Behind Lagging Behind Not Commenced Not Commenced

2025/2026 Progress

29.4%

Reduction in Carbon Intensity from 2018/2019 Baseline

24.5MW

Installed Solar PV Capacity(1)

HK$67.4M

Capital Deployment for Energy Saving and Decarbonisation

Decarbonisation EN

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