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 98% of the industry. This can give you a sense of how well the company is doing compared to its peers.
New World Development's reported carbon emissions
In 2022, New World Development Company Limited reported total greenhouse gas emissions of approximately 265,376,000 kg CO2e, comprising about 46,006,000 kg CO2e from Scope 1 and about 219,370,000 kg CO2e from Scope 2. The company has set ambitious climate commitments, aiming to reduce absolute Scope 1 and 2 emissions by 42% by FY2030 from a FY2023 base year. Additionally, it targets a 25% reduction in Scope 3 emissions from capital goods and a significant 51.6% reduction in Scope 3 emissions from downstream leased assets within the same timeframe. Looking further ahead, New World Development is committed to achieving net-zero greenhouse gas emissions across its value chain by FY2050. This long-term goal includes a remarkable 99.6% reduction in Scope 1, 2, and 3 emissions from capital goods, use of sold products, downstream leased assets, and investments, all based on a FY2023 baseline. The company has demonstrated a consistent commitment to sustainability, with previous emissions data showing a downward trend in emissions from 320,294,000 kg CO2e in 2020 to 297,696,000 kg CO2e in 2021, and further to 265,376,000 kg CO2e in 2022. These efforts align with industry standards for climate action and reflect New World Development's dedication to addressing climate change while enhancing operational efficiency.
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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 committed to some reduction initiatives 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.
