- Increased energy demand at some portfolios due to post-pandemic recovery.
- Reduced supply of offsite renewable electricity in the power purchase agreement at Taikoo Li Chengdu.
- Limited renewable energy sources in the Chinese Mainland.
- Changing government regulations in the Chinese Mainland.
- Managing waste in line with upcoming legislation in Hong Kong and the Chinese Mainland.
Swire Properties
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Swire Properties disclosed greenhouse gas emissions of 165.5K tCO2e (2023). By scope: Scope 1: 10.4K tCO2e (2023); Scope 2: 152.8K tCO2e (2023); Scope 3: 257.9K tCO2e (2023). Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
165.5K tCO2e (2023)
2023
Renewable Energy
Approximately 6% at Two Taikoo Place (2023)
of total energy
Water Usage
35.7M m3 (2023)
2023
Waste
41.4K tonnes (2023)
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 10.4K tCO2e (2023) |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 152.8K tCO2e (2023) |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 257.9K tCO2e (2023) |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 165.5K tCO2e (2023) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced Scope 1 and 2 absolute GHG emissions by 29% compared to the 2019 baseline.
- Reduced carbon intensity from the tenant-controlled portion of downstream leased assets by 40% compared to the 2018 baseline.
- Reduced electricity use intensity by 15% in Hong Kong portfolio and 7% in Chinese Mainland portfolio compared to the 2019 baseline.
- Approximately 6% of landlord’s building energy was supplied by renewable sources at Two Taikoo Place.
- Hong Kong portfolio achieved 26.1% commercial waste diversion rate from landfills.
- Hong Kong projects under development achieved 99.7% demolition waste diversion rate.
- Chinese Mainland portfolio achieved 45.7% commercial waste recycling rate.
- Reduction of water intensity: Hong Kong portfolio 9.4%, Chinese Mainland portfolio 26.8%, Hotels 3.5%.
- 90% of buildings in our Hong Kong portfolio achieved IAQ Excellent Class.
- 80% of buildings in our Chinese Mainland portfolio fulfilled the local IAQ standard.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce operational carbon emissions (Scope 1 and 2) by 25% by 2025.
- Reduce electricity use intensity by 20% in Hong Kong portfolio and 13% in Chinese Mainland portfolio by 2025.
- Generate 4-6% of landlord’s building energy from on-site renewable energy sources by 2025.
- Achieve waste diversion rates of 30% in Hong Kong portfolio and 50% in Chinese Mainland portfolio by 2025.
- Reduce water intensity by 10% in Hong Kong portfolio, 20% in Chinese Mainland portfolio, and 8% in Hotels by 2025.
📅 Medium-term
- Reduce value chain GHG emissions (Scope 3) by 28% per square metre by 2030.
- Achieve net-zero commitment validated by SBTi by 2024.
🔭 Long-term
- Net-zero emissions by 2050.
- Zero waste to landfill by 2050.
- Water neutrality by 2050.
🌱 ESG Focus Areas
Climate ChangeEnergy ManagementResource and CircularityWater ConservationBiodiversityOccupant Wellbeing