New World Development

New World Development, based in Hong Kong and operating in retail trade and repair services, reported total emissions of approximately 1.35 billion kg CO2e in 2025. This includes about 8.9 million kg CO2e from Scope 1 emissions, 142.1 million kg CO2e from Scope 2 emissions, and Scope 3 emissions totalling approximately 1.28 billion kg CO2e. Key Scope 3 categories for 2025 include capital goods (821.3 million kg CO2e), investments (132.7 million kg CO2e), use of sold products (204.4 million kg CO2e), and downstream leased assets (103.3 million kg CO2e).

Looking back, in 2024, the company's total emissions were approximately 1.49 billion kg CO2e. This comprised about 9.7 million kg CO2e from Scope 1, 148.6 million kg CO2e from Scope 2, and 1.33 billion kg CO2e from Scope 3. In 2023, total emissions were approximately 876.8 million kg CO2e, with Scope 1 at about 8.0 million kg CO2e, Scope 2 at approximately 109.3 million kg CO2e, and Scope 3 at about 759.5 million kg CO2e. For 2022, New World Development reported Scope 1 emissions of approximately 46.0 million kg CO2e and Scope 2 emissions of approximately 219.4 million kg CO2e, for a combined total of roughly 265.4 million kg CO2e, without disclosing Scope 3 data. In 2021, Scope 1 emissions were approximately 42.4 million kg CO2e and Scope 2 emissions were about 255.3 million kg CO2e, totalling roughly 297.7 million kg CO2e. In 2020, Scope 1 emissions were approximately 35.5 million kg CO2e and Scope 2 emissions were about 284.8 million kg CO2e, resulting in a combined total of roughly 320.3 million kg CO2e. For 2019, Scope 1 emissions were approximately 299.9 million kg CO2e and Scope 2 emissions were about 311.1 million kg CO2e, combining for roughly 611.0 million kg CO2e. In 2018, Scope 1 emissions were approximately 310.7 million kg CO2e and Scope 2 emissions were about 313.0 million kg CO2e, totalling roughly 624.0 million kg CO2e. In 2017, Scope 1 emissions were approximately 334.7 million kg CO2e and Scope 2 emissions were about 327.0 million kg CO2e, summing to roughly 663.8 million kg CO2e.

New World Development has set ambitious climate commitments, validated by the Science Based Targets initiative (SBTi). The company commits to reaching net-zero greenhouse gas emissions across its 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. Furthermore, New World Development aims to reduce absolute Scope 3 GHG emissions from capital goods by 25.0% within the same timeframe and Scope 3 GHG emissions from downstream leased assets by 51.6% per square metre by FY2030 from a FY2023 base year. Long-term targets include a 99.6% absolute reduction in Scope 1, 2, and Scope 3 GHG emissions from capital goods, use of sold products, downstream leased assets, and investments by FY2050 from a FY2023 base year. The company also has an older SBTi target to reduce absolute Scope 1 and 2 GHG emissions by 46.2% by FY2030 from a FY2019 base year, and to reduce Scope 3 GHG 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.

Additionally, New World Development aims for a 22% energy intensity reduction (kWh/sq. m.) in major existing buildings in Mainland China by 2030 against a 2015 baseline and a 37% energy intensity reduction (kWh/sq. m.) in major existing buildings in Hong Kong by 2030 against a 2012 baseline. The company has also pledged support for the Hong Kong Green Building Council's "Advancing Net Zero" initiative to monitor best practices for achieving net-zero operations in all buildings by 2050.