Swire Properties

Swire Properties's reported carbon emissions

**Swire Properties: Carbon Emissions and Climate Commitments** Swire Properties, a real estate services company headquartered in Hong Kong, is actively engaged in addressing its climate impact. The company has set ambitious targets for emissions reduction and is committed to achieving net-zero emissions by 2050. **Emissions Data:** * **2025:** Total reported emissions were approximately 386.1 million kg CO2e. This comprises approximately 8.6 million kg CO2e for Scope 1 emissions, approximately 102.5 million kg CO2e for Scope 2 (market-based), and approximately 277.0 million kg CO2e for Scope 3. * **2024:** Total emissions amounted to approximately 390.2 million kg CO2e, including about 9.0 million kg CO2e (Scope 1), 129.6 million kg CO2e (Scope 2 market-based), and 280.8 million kg CO2e (Scope 3). * **2023:** Swire Properties reported total emissions of approximately 371.1 million kg CO2e, with Scope 1 at roughly 10.4 million kg CO2e, Scope 2 (market-based) at approximately 152.8 million kg CO2e, and Scope 3 at about 257.4 million kg CO2e. * **2022:** Total emissions were approximately 544.0 million kg CO2e, with Scope 1 at around 9.9 million kg CO2e, Scope 2 (market-based) at approximately 155.7 million kg CO2e, and Scope 3 at a significant 425.1 million kg CO2e. * **2021:** Total emissions were approximately 495.2 million kg CO2e, comprising approximately 11.3 million kg CO2e (Scope 1), 165.6 million kg CO2e (Scope 2 market-based), and 328.4 million kg CO2e (Scope 3). * **2020:** While a comprehensive total is not provided for 2020, Scope 1 and 2 emissions (market-based) were approximately 203.3 million kg CO2e. Scope 3 emissions for this year were detailed across various categories, including downstream leased assets (approximately 139.4 million kg CO2e) and purchased goods and services (approximately 90.1 million kg CO2e). * **2019:** Scope 1 and 2 emissions (market-based) totalled approximately 230.3 million kg CO2e. Scope 3 emissions included approximately 179.5 million kg CO2e from downstream leased assets and about 113.8 million kg CO2e from purchased goods and services. **Climate Commitments and Reduction Targets:** Swire Properties has established several science-based targets to guide its decarbonisation efforts: * **Net-Zero Goal:** The company is committed to reaching net-zero greenhouse gas emissions across its value chain by 2050. * **Near-Term Targets:** * A commitment to reduce absolute Scope 1 and 2 GHG emissions by 25% by 2025, compared to a 2019 baseline. * A commitment to reduce absolute Scope 1 and 2 GHG emissions by 46% by 2030, from a 2019 baseline. * A target to reduce Scope 3 GHG emissions from downstream leased assets by 28% per square meter by 2030, based on a 2018 baseline. * A target to reduce Scope 3 GHG emissions from capital goods by 25% per square meter by 2030, using a 2016-2018 baseline. * In-use operational GHG emissions for owned and leased buildings, covering downstream leased assets, are targeted for a 75.7% reduction per square meter by 2034 from a 2022 base year. * Upfront embodied GHG emissions of new buildings, covering capital goods, are targeted for a 69.5% reduction per square meter by 2034 from a 2022 base year. * Absolute Scope 3 GHG emissions from fuel and energy-related activities are targeted for a 35% reduction by 2034 from a 2022 base year. * Scope 3 GHG emissions from the use of sold products are targeted for a 63.8% reduction per square meter of sold buildings by 2034. * A commitment to install no new fossil fuel equipment in its building portfolios from January 1, 2030. * **Long-Term Targets:** * In-use operational GHG emissions for owned and leased buildings, including downstream leased assets, are targeted for an 98.8% reduction per square meter by 2050 from a 2022 base year. * Upfront embodied GHG emissions of new buildings, covering capital goods, are targeted for a 98.5% reduction per square meter by 2050. * All other absolute Scope 3 GHG emissions are targeted for a 90% reduction by 2050. Swire Properties' climate commitments are aligned with a 1.5°C pathway. The company has achieved a notable 29% absolute Scope 1 and 2 carbon reduction in 2023 compared to its 2019 baseline.