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 70 is higher than 83% 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, headquartered in Hong Kong, reported significant carbon emissions across various scopes. The total emissions included approximately 9,701,000 kg CO2e for Scope 1, 148,601,000 kg CO2e for Scope 2, and a substantial 1,329,681,000 kg CO2e for Scope 3 emissions. This data reflects a comprehensive approach to emissions reporting, covering all three scopes. The company has set ambitious reduction targets, committing to a 46.2% reduction in absolute Scope 1 and 2 greenhouse gas emissions by FY2030, using FY2019 as the baseline. Additionally, New World Development 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 within the same timeframe. Looking towards the long term, New World Development has pledged to achieve net-zero greenhouse gas emissions across its entire value chain by FY2050. This commitment includes a remarkable target to reduce absolute Scope 1, 2, and 3 emissions from capital goods, use of sold products, downstream leased assets, and investments by 99.6% from the FY2023 baseline. These initiatives align with the Science Based Targets initiative (SBTi) and demonstrate New World Development's commitment to sustainability and climate action, positioning the company as a leader in the real estate sector's response to climate change.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 334,666,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 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 | 000,000,000 |
| Scope 3 | - | - | - | - | - | - | 000,000,000 | 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.
