Fortune Reit
Fortune Real Estate Investment Trust (Fortune REIT), headquartered in Hong Kong, is a prominent player in the real estate investment sector. Established in 2003, the trust primarily focuses on retail and commercial properties across key regions in Hong Kong and mainland China. With a diverse portfolio that includes shopping malls and office spaces, Fortune REIT stands out for its strategic asset management and commitment to enhancing tenant experiences. Over the years, Fortune REIT has achieved significant milestones, including a successful listing on the Hong Kong Stock Exchange, which has solidified its market position. The trust is recognised for its robust financial performance and sustainable growth strategies, making it a preferred choice for investors seeking exposure to the dynamic Asian real estate market.
DitchCarbon Score
How does Fortune Reit'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 Real Estate 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
Fortune Reit's score of 27 is higher than 55% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Fortune Reit's reported carbon emissions
In 2023, Fortune Real Estate Investment Trust (Fortune Reit), headquartered in Hong Kong, reported total greenhouse gas emissions of approximately 19,633,400 kg CO2e. This figure includes 794,900 kg CO2e from Scope 1 emissions, 18,547,600 kg CO2e from Scope 2 emissions, and 290,800 kg CO2e from Scope 3 emissions. The previous year, 2022, saw total emissions of about 49,357,700 kg CO2e, indicating a significant reduction in emissions. Fortune Reit has set ambitious climate commitments, aiming to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 46% by 2030, using 2019 as the base year. This target has been approved through the Science Based Targets initiative (SBTi) and reflects the company's commitment to align with the 1.5°C climate goal. Additionally, Fortune Reit is focused on measuring and reducing its Scope 3 emissions, although specific targets for these emissions have not been disclosed. The company has consistently reported its emissions data across all relevant scopes, demonstrating transparency and accountability in its climate strategy. As part of its ongoing efforts, Fortune Reit continues to monitor and improve its energy consumption intensity, which was reported at approximately 0.1615 kg CO2e per square foot in 2023. Overall, Fortune Reit's proactive approach to managing its carbon footprint and its commitment to significant emissions reductions position it as a responsible player in the real estate sector, contributing to broader climate action goals.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 2,024,100 | 0,000,000 | 000,000 | 000,000 |
| Scope 2 | 24,027,700 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 490,200 | 000,000 | 00,000,000 | 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.
Fortune Reit 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.
