Swire Properties

  • Sector: Built Environment
  • Headquarters: Hong Kong SAR China

Review summary

Swire Properties submitted its Climate- and Nature-related Disclosure document to the It’s Now for Nature campaign and met all the review criteria.

  • Swire Properties’ materiality assessment addresses nature-related dependencies, impacts, risks and opportunities across the value chain using TNFD’s LEAP approach.
  • Swire Properties explicitly discloses its dependencies, impacts, risks and opportunities, such as (non-exhaustive):
    • Dependencies: Water provisioning, climate regulation
    • Impacts: GHG emissions, waste, water consumption
    • Risks: Increased exposure to reputation and litigation risks in relation to climate- and nature-related issues
    • Opportunities: Increased adoption of renewable energy and location-based nature-based solutions.

  • Swire Properties has set SMART targets for GHG emissions, water, and waste with a deadline of 2025.
  • For example, Swire Properties aims to achieve waste diversion from landfills:
    • Hong Kong Portfolio (including hotels) 30% of commercial waste
    • Hong Kong (projects under development) 85% of demolition waste, 70% of construction waste
    • Chinese Mainland (projects under development) 50% of total waste
  • Swire Properties aims to achieve water neutrality by 2050. To 2025, Swire Properties has set a water intensity target across their portfolio: 10% (m3/m2) in Hong Kong portfolio, Chinese Mainland by 20% (m3/m2) and Hotels by 7% (m3/guest night).

  • Swire Properties has started developing Biodiversity Guidelines for Hong Kong and the Chinese Mainland to protect and enhance biodiversity in projects.
  • To achieve water neutrality by 2050, Swire Properties is implementing water conservation efforts, such as the installation of water-efficient flow. To help monitor and track progress against targets, it has set up smart digital water meters, enabling better monitoring and management of water usage.
  • Swire Properties is integrating ISO management systems to ensure that climate- and nature-related considerations are fully integrated in day-to-day operations.
  • Swire Properties is evaluating all operating procedures to include nature-related elements in routine inspections and a comprehensive review of sustainable procurement guidelines.

  • The Board of Directors has approved the nature strategy of Swire Properties. It approves the Company’s strategy direction Company on sustainability and ESG matters, including climate- and nature-related issues.
  • The ESG Steering Committee reports into the Board of Directors and:
    • Reviews any significant risks and opportunities, associated issues, targets and disclosures related to climate and nature;
    • Formulates and reviews the climate and nature strategy;
    • Reviews performance in achieving climate- and nature-related KPIs annually.