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 58 is higher than 77% 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 2024, New World Development Company Limited reported total greenhouse gas emissions of approximately 1,778,661,000 kg CO2e. This includes Scope 1 emissions of about 9,701,000 kg CO2e, Scope 2 emissions of approximately 148,601,000 kg CO2e, and significant Scope 3 emissions totalling around 1,620,359,000 kg CO2e. The combined Scope 1 and 2 emissions amounted to about 158,302,000 kg CO2e. The company has set ambitious reduction targets, committing to a 46.2% reduction in absolute Scope 1 and 2 GHG emissions by FY2030 from a FY2019 baseline. Additionally, it aims to reduce Scope 3 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. New World Development has also pledged to achieve net-zero greenhouse gas emissions across its entire value chain by FY2050. This long-term commitment includes a target to reduce absolute Scope 1, 2, and 3 emissions by 99.6% from a FY2023 baseline. The company is actively working towards energy efficiency, with a goal of reducing energy intensity in major existing buildings by 37% in Hong Kong and 22% in Mainland China by 2030, both against their respective baselines. Overall, New World Development's climate commitments reflect a strong alignment with industry standards and a proactive approach to addressing climate change.
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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.
