Hang Lung

Hang Lung Properties Limited, a real estate services firm headquartered in HK, has demonstrated a growing commitment to carbon emission reduction. In 2024, the company reported total emissions of approximately 443.7 million kg CO2e, encompassing Scope 1, Scope 2 (market-based), and Scope 3 emissions.

Scope 1 emissions for 2024 were approximately 4.3 million kg CO2e, primarily from stationary combustion. Scope 2 emissions, calculated using the market-based approach, amounted to approximately 125.1 million kg CO2e, while the location-based calculation yielded approximately 171.0 million kg CO2e. Scope 3 emissions were substantial, totalling approximately 435.0 million kg CO2e, with purchased goods and services and downstream leased assets being the most significant contributors.

Hang Lung Properties has set ambitious climate targets, aligning with a net-zero trajectory. The company commits to reducing absolute Scope 1 and 2 GHG emissions by 46.6% by 2030, using 2019 as a base year. Furthermore, a long-term goal aims for a 99.6% reduction in absolute Scope 1 and 2 emissions by 2050, also from a 2019 baseline. For Scope 3, the company has committed to reducing absolute emissions by 99.6% by 2050, using 2020 as a base year. Additional specific Scope 3 targets include reducing emissions from purchased goods and services and downstream leased assets by 25% by 2030, based on 2020 levels. More recent targets indicate a commitment to reduce scopes 1, 2, and 3 in-use operational GHG emissions by 56.1% per m² by 2030 from a 2023 base year, and a long-term intensity reduction target of 98.8% per m² by 2050.

The company also aims to achieve net-zero greenhouse gas emissions across its entire value chain by 2050.