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 66 is higher than 98% 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 aimed at achieving net-zero greenhouse gas emissions across its value chain by FY2050. For the near term, New World Development has committed to reducing absolute Scope 1 and 2 greenhouse gas emissions by 42% by FY2030, using FY2023 as the baseline. Additionally, it aims 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. Historically, the company has shown a decreasing trend in emissions. In 2022, total emissions were 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. This represents a significant reduction from previous years, such as 2021, when total emissions were about 297,696,000 kg CO2e. Long-term, New World Development aims for a dramatic reduction of 99.6% in absolute Scope 1, 2, and 3 emissions by FY2050, compared to the FY2023 baseline. This commitment aligns with industry standards for climate action and reflects the company's dedication to sustainability in the real estate sector.
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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.
