Hang Lung Properties and LVMH Group have announced an ambitious agenda entitled Common Charter: Joining Forces to Accelerate Change (“Charter”) that outlines 20 innovative actions to accelerate sustainability progress. The first-of-its-kind partnership between a landlord and tenant has made significant progress since its inception in October 2022.
Under the Charter, the Groups plan to implement 20 concrete actions in 2023, including sharing energy data, pursuing renewable energy, developing a shared learning agenda, and using digital platforms to improve environmental governance. To speed progress, leverage expertise and strengthen impact under the Charter, the Groups are partnering with a number of external organizations, including Bluerisk, CLP, Schneider Electric, and TRASHAUS.
In addition, they are developing research projects on key challenges through the Urban Land Institute, and through Hang Lung’s association with the Hang Lung Center for Real Estate at Tsinghua University.
The Charter is available for download, showing a spirit of transparency and encouraging innovation and collaboration among stakeholders. The Groups will report back on progress in all 20 action areas, including quantifiable results from actions undertaken in 2023, as well as new ambitions for even greater impact in early 2024. Some of the Charter actions have already begun, with the Groups working with TRASHAUS on a waste audit covering a store renovation in Shanghai.
Both Groups have shown their commitment to sustainability leadership and innovation through this pioneering partnership. Their Common Charter which outlines concrete actions focused on climate resilience, resource management, people and wellbeing, and sustainability governance is poised to make significant progress towards a more sustainable future.