New World Development

New World Development, a Hong Kong-based company in the retail trade services sector, has actively reported its carbon emissions and committed to ambitious climate goals.

In 2025, the company's total reported emissions were approximately 1.30 billion kg CO2e. This includes Scope 1 emissions of approximately 8.90 million kg CO2e, Scope 2 emissions of approximately 142.06 million kg CO2e, and Scope 3 emissions totaling approximately 1.15 billion kg CO2e. Key categories within Scope 3 included capital goods at approximately 821.33 million kg CO2e, use of sold products at approximately 204.40 million kg CO2e, and downstream leased assets at approximately 103.32 million kg CO2e.

Looking back, New World Development's emissions in 2024 were approximately 1.49 billion kg CO2e, comprising Scope 1 emissions of around 9.70 million kg CO2e, Scope 2 emissions of about 148.60 million kg CO2e, and Scope 3 emissions of approximately 1.33 billion kg CO2e. For 2023, the company reported total emissions of approximately 876.83 million kg CO2e, with Scope 1 at about 8.02 million kg CO2e, Scope 2 at approximately 109.33 million kg CO2e, and Scope 3 at around 759.47 million kg CO2e.

New World Development has set several Science Based Targets initiative (SBTi) validated targets. The company commits to achieving net-zero greenhouse gas emissions across its entire value chain by FY2050. Near-term targets include reducing absolute Scope 1 and 2 GHG emissions by 42.0% by FY2030 from a FY2023 base year. Additionally, New World Development aims to reduce absolute Scope 3 GHG emissions from capital goods by 25.0% and Scope 3 GHG emissions from downstream leased assets by 51.6% per square metre within the same timeframe (FY2023 base year to FY2030). The company also has a long-term target to reduce absolute Scope 1, 2, and Scope 3 GHG emissions from capital goods, use of sold products, downstream leased assets, and investments by 99.6% by FY2050 from a FY2023 base year.

Earlier commitments include a 37% energy intensity reduction (kWh/sq. m.) in major existing buildings in Hong Kong against a 2012 baseline by 2030, and a 22% energy intensity reduction (kWh/sq. m.) in major existing buildings in Mainland China against a 2015 baseline by 2030. The company has also pledged support for the "Advancing Net Zero" initiative, aiming for all buildings to operate at net-zero by 2050.