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 62 is higher than 99% 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 2023, New World Development Company Limited, headquartered in Hong Kong, reported no carbon emissions data. However, the company has set ambitious climate commitments to address its greenhouse gas emissions. New World Development aims to achieve a net-zero target across its value chain by FY2050. As part of its near-term strategy, the company commits to reducing absolute Scope 1 and 2 greenhouse gas emissions by 42% by FY2030, using FY2023 as the base year. Additionally, it plans to cut Scope 3 emissions from capital goods by 25% and from downstream leased assets by 51.6% per square metre within the same timeframe. Looking back at previous years, in 2022, the company reported total emissions of approximately 265,376,000 kg CO2e, with Scope 1 emissions at about 46,006,000 kg CO2e and Scope 2 emissions at around 219,370,000 kg CO2e. In 2021, total emissions were approximately 297,696,000 kg CO2e, with Scope 1 at about 42,426,000 kg CO2e and Scope 2 at approximately 255,269,000 kg CO2e. New World Development's long-term goal includes a significant reduction of 99.6% in absolute Scope 1, 2, and 3 emissions by FY2050 from the FY2023 base year. This comprehensive approach reflects the company's commitment to sustainability and aligns with industry standards for climate action.
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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.
