GlobalData offers a comprehensive analysis of Swire Properties, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Swire Properties‘ ESG performance. GlobalData’s company profile on Swire Properties offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Swire Properties, a real estate company, has set target to achieve net zero by 2050. It has also implemented reduction strategies to aid in achieving its 2025 and 2030 near-term science-based targets ("SBTs") pertaining to Scope 1, Scope 2, and Scope 3 emissions, aligned with the 1.5°C goal. These encompass direct emissions from owned or controlled sources, indirect emissions stemming from the generation of purchased energy, and all other indirect emissions, respectively. Strategies for Scope 1 and 2 emissions reduction involve adopting net-zero designs in new and revamped buildings, emphasizing continuous digitalization, electrification, and expanding renewable energy capacities. For Scope 3 emissions, initiatives focus on low-carbon procurement expansion, engaging partners for data sharing and resilience-building, and achieving zero waste to landfill and water neutrality commitments by 2050 to promote a circular economy.
In 2022, Swire Properties total carbon emissions (Scopes 1 & 2)- market-based method was 165,549 tCO2e and total carbon emissions (Scopes 1 & 2)- location-based method was 195,814 tCO2e. Swire Properties witnessed a 6% decrease in total carbon emissions (Scope 1 and 2) as compared to the previous year, 2021. The company achieved 40% reduction in carbon intensity within the tenant-controlled segment of downstream leased assets, and 17% reduction of embodied carbon intensity from new major developments. Additionally, the company has made significant strides in addressing Scope 1 and 2 emissions, achieving a remarkable 28% reduction in absolute GHG emissions in 2022 when compared to the 2019 baseline year. The company has also set operational carbon emissions (Scope 1 and 2 SBT) target to reduce absolute greenhouse gas (GHG) emissions by 25% by 2025.
In conclusion, Swire Properties has set target for net zero by 2050 to reduce its GHG emissions. Swire Properties has taken steps and made investments to reduce emissions, by adopting net-zero design in new buildings and major retrofits, and continuous digitalisation and electrification of existing buildings.
