Fortune Reit Sustainability Profile
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 lower than 52% 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) 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 company has set ambitious targets to reduce its Scope 1 and Scope 2 emissions by 46% by 2030, using 2019 as the base year. This commitment aligns with the Science Based Targets initiative (SBTi) and reflects Fortune Reit's dedication to addressing climate change. In the previous year, 2022, the total emissions were significantly higher at approximately 49,357,700 kg CO2e, indicating a substantial reduction in emissions over the year. The breakdown for 2022 included 312,800 kg CO2e from Scope 1, 17,425,000 kg CO2e from Scope 2, and 31,619,900 kg CO2e from Scope 3 emissions. Fortune Reit’s emissions intensity for Scope 1 and 2 is reported at 6.0 kg CO2e per square foot, demonstrating their focus on improving energy efficiency in their operations. The company is actively measuring and working to reduce its Scope 3 emissions, which encompass indirect emissions from the value chain. Overall, Fortune Reit is committed to sustainable practices and aims to contribute positively to climate action through its reduction targets and ongoing initiatives.
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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 |
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Fortune Reit's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Fortune Reit has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
Frequently Asked Questions
Common questions about Fortune Reit's sustainability data and climate commitments