Wharf Reic Sustainability Profile
Wharf Real Estate Investment Company Limited, commonly known as Wharf REIC, is a leading player in the real estate sector, headquartered in Hong Kong. Established in 2016, the company has rapidly positioned itself as a key player in property investment and development, focusing on prime commercial and residential properties across Hong Kong and mainland China. Wharf REIC's portfolio includes iconic developments such as Harbour City and Times Square, which are renowned for their unique blend of retail, office, and leisure spaces. The company is distinguished by its commitment to quality and innovation, ensuring that its properties meet the evolving needs of tenants and consumers alike. With a strong market presence and a reputation for excellence, Wharf REIC continues to achieve significant milestones, solidifying its status as a leader in the real estate industry.
DitchCarbon Score
How does Wharf Reic'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 Real Estate 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
Wharf Reic's score of 44 is higher than 64% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Wharf Reic's reported carbon emissions
In 2024, Wharf Real Estate Investment Company Limited (Wharf REIC) reported total carbon emissions of approximately 140,270,000 kg CO2e across all scopes. This includes 8,888,000 kg CO2e from Scope 1, 92,758,000 kg CO2e from Scope 2 (market-based), and 140,270,000 kg CO2e from Scope 3 emissions. The company has set ambitious targets to reduce its greenhouse gas emissions by 30% by 2030 from a 2014 baseline, with specific commitments to reduce Scope 1 and Scope 2 emissions by 42% from a 2022 base year. Wharf REIC's emissions data shows a significant increase in Scope 3 emissions, which rose from 904,000 kg CO2e in 2023 to 140,270,000 kg CO2e in 2024, indicating a need for enhanced focus on upstream and downstream activities. The company is also committed to reducing Scope 3 emissions from downstream leased assets by 25% by 2030. The company’s emissions intensity metrics indicate a GHG emissions intensity of approximately 53,360 kg CO2e per employee and 0.00814 kg CO2e per HK$ million in revenue for 2024. These figures reflect Wharf REIC's ongoing efforts to monitor and manage its carbon footprint effectively. Wharf REIC's climate commitments align with the Science Based Targets initiative (SBTi), ensuring that their reduction targets are consistent with the global goal of limiting temperature rise to 1.5°C. The company is actively working towards these targets, demonstrating a commitment to sustainability and responsible environmental stewardship.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 6,670,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 121,271,000 | 000,000,000 | 000,000,000 | 00,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | 0,000,000 | 0,000,000 | 00,000,000 | 0,000,000 | 000,000 | 000,000,000 |
How Carbon Intensive is Wharf Reic's Industry?
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Wharf Reic's Scope 3 Categories Breakdown
Wharf Reic's Scope 3 emissions, which increased significantly last year and increased significantly since 2019, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 58% of total emissions under the GHG Protocol, with "Downstream Leased Assets" being the largest emissions source at 54% of Scope 3 emissions.
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Wharf Reic's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Wharf Reic has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
Frequently Asked Questions
Common questions about Wharf Reic's sustainability data and climate commitments