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 60 is higher than 97% 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 significant greenhouse gas emissions, totalling approximately 1,000,100 kg CO2e for Scope 1, 148,601,000 kg CO2e for Scope 2, and a substantial 1,329,681,000 kg CO2e for Scope 3 emissions. This reflects their ongoing commitment to transparency in emissions reporting. 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, they plan 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 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 strategy includes a remarkable target to reduce absolute Scope 1, 2, and 3 emissions by 99.6% from a FY2023 baseline. These commitments position New World Development as a proactive player in the real estate sector, aligning with global climate goals and demonstrating a strong dedication to sustainability from their headquarters in Hong Kong.
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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.
