Hongkong Land

Hongkong Land, a real estate services firm headquartered in HK, has reported comprehensive carbon emissions data and set ambitious climate commitments.

For the reporting year 2024, Hongkong Land's total emissions, encompassing Scope 1, 2, and 3, amounted to approximately 9.5 billion kg CO2e. This includes Scope 1 emissions of about 2.9 million kg CO2e and Scope 2 emissions totalling approximately 122.4 million kg CO2e. Scope 3 emissions were substantial, with downstream leased assets contributing about 11.1 million kg CO2e and purchased goods and services representing approximately 3.1 billion kg CO2e.

The company has a commitment to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 46.2% by 2030, based on a 2019 baseline of 187,830 tonnes CO2e. Additionally, Hongkong Land has committed to reducing Scope 3 emissions from purchased goods and services and capital goods by 22% per square metre of new built area within the same timeframe. These targets align with keeping global warming to 1.5°C.

Earlier reporting periods show Scope 1 and 2 emissions of approximately 132.3 million kg CO2e in 2021, and Scope 1 emissions of about 1.8 million kg CO2e and Scope 2 emissions of roughly 158.6 million kg CO2e in 2019. Scope 3 emissions for 2023 included purchased goods and services at approximately 673.6 million kg CO2e and downstream leased assets at about 123 million kg CO2e. In 2022, Scope 3 emissions from purchased goods and services were approximately 413.8 million kg CO2e, with fuel and energy-related activities contributing around 88.3 million kg CO2e.

Hongkong Land Holdings Limited has its Science Based Targets initiative (SBTi) targets set, covering its operations and development activities across Asia. These commitments are inherited from Hongkong Land Holdings Limited, with a cascade level of 3 and a relationship type of current subsidiary.