Swire Properties Engages Tenants towards Net-Zero, with Bespoke “Green Performance Pledge” (“GPP”) to Change the Sustainability Game for Office Tenants

In September 2021, Swire Properties became the first developer in Hong Kong and the Chinese Mainland to have ambitious 1.5°C-aligned science-based targets (SBTs) officially approved. The Company has ramped up its commitment to reaching net-zero emissions by 2050 for its operations (Scope 1 and 2 emissions) and along its value chain (Scope 3 emissions).

This June, the Company co-hosted a global webinar with the World Green Building Council to celebrate World Environment Day, where its Chief Executive Tim Blackburn and other colleagues shared the Company’s net-zero goals and initiatives.

Click here to watch the video (WorldGBC Global Webinar – Swire Properties’ Session)

“Green Performance Pledge”: Tenant Engagement to Reduce Carbon Footprint

Swire Properties launched the Green Performance Pledge (“GPP”) in August 2021 to drive deeper landlord-tenant partnerships on sustainable development. Over 30 office tenants – representing more than 21% of occupied lettable floor area from its Hong Kong office portfolio – have signed up.

Building on the basic premise of a green lease, the GPP covers the entire tenancy cycle. Swire Properties aims to engage 50% of office tenants[1] through the GPP in Hong Kong and the Chinese Mainland by 2025.

For tenants with fit-out works, the GPP includes a comprehensive “SD Fit-out Technical Guidelines” that provides user-friendly templates, office design recommendations, and a recognition system to recognise tenants who adopt sustainability features.

As for operations, an array of tools and support are also available to tenants, including performance benchmarking, free energy audits, smart water meters and access to pioneering green technologies including Hong Kong’s first smart waste reduction programme for offices. Tenants will also receive recognition for exemplary environmental performance.

[1] Measured by occupied lettable floor area (“LFA”) of office portfolio at 100% basis comprising Taikoo Place and Pacific Place in Hong Kong, as well as Taikoo Hui in Guangzhou.

Click here for more details.

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