New World Development
New World Development Company Limited, commonly known as New World Development, is a prominent Hong Kong-based conglomerate established in 1970. With its headquarters in Hong Kong, the company operates extensively across the Asia-Pacific region, focusing on real estate, infrastructure, and services. Renowned for its innovative approach, New World Development has made significant strides in urban development and sustainability, offering a diverse portfolio that includes residential, commercial, and retail properties. The company is recognised for its commitment to quality and design, setting benchmarks in the industry. Over the years, New World Development has achieved notable milestones, solidifying its position as a leader in the market. Its dedication to enhancing community living and environmental stewardship distinguishes it from competitors, making it a key player in the real estate and infrastructure sectors.
DitchCarbon Score
How does New World Development's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Retail Trade Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
New World Development's score of 58 is higher than 77% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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New World Development's reported carbon emissions
In 2024, New World Development Company Limited reported total greenhouse gas emissions of approximately 1,778,661,000 kg CO2e. This includes 9,701,000 kg CO2e from Scope 1 emissions, 148,601,000 kg CO2e from Scope 2 emissions, and a significant 1,620,359,000 kg CO2e from Scope 3 emissions. The total emissions from Scope 1 and 2 combined were about 158,302,000 kg CO2e. The company has set ambitious targets to reduce its carbon footprint. By FY2030, New World Development aims to achieve a 46.2% reduction in absolute Scope 1 and 2 greenhouse gas emissions from a FY2019 baseline. Additionally, it plans to reduce Scope 3 emissions from capital goods by 22% per square metre of construction floor area and from downstream leased assets by 29.8% per square metre of gross floor space, both within the same timeframe. Looking further ahead, New World Development has committed to reaching net-zero greenhouse gas emissions across its entire value chain by FY2050. This long-term goal includes a staggering 99.6% reduction in absolute Scope 1, 2, and 3 emissions from capital goods, use of sold products, downstream leased assets, and investments, all measured from a FY2023 baseline. The company is also focused on energy efficiency, targeting a 37% reduction in energy intensity in major existing buildings in Hong Kong by 2030, compared to a 2012 baseline, and a 22% reduction in Mainland China against a 2015 baseline. These commitments reflect New World Development's proactive approach to addressing climate change and its alignment with global sustainability goals.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 334,666,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 |
| Scope 2 | 326,998,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | - | - | - | - | 0,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
New World Development is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
