Hang Lung is very pleased to share that we have procured 1,200 tonnes of low carbon emissions steel for 95% of the reinforcing steel bars in a key tunnel of our Westlake 66 project in Hangzhou. Supplied by Baoshan Iron & Steel Co., Ltd. ("Baosteel"), the steel combines renewable energy and recycled steel scrap to achieve a 50% reduction in carbon emissions compared to conventional alternatives. 

This initiative advances our leadership in sustainable construction, following our earlier successful use of low carbon emissions steel in the Pavilion Extension of our flagship Plaza 66 in Shanghai. Altogether we have procured almost 2,700 tonnes of low carbon emissions steel in our Shanghai and Hangzhou projects in 2024 and 2025, with a combined 45% reduction in carbon emissions.

Hang Lung will continue to do our part to support steel decarbonization through our procurement efforts and through our involvement in the real estate-steel sector collaborative initiative convened by CISA (China Iron and Steel Association), World Steel Association (worldsteel), and Urban Land Institute.

Our Pavilion Extension procurement was the first commercial real estate project in mainland China to incorporate low carbon emissions steel. For more information on that transaction, please see here: https://lnkd.in/gF77qnAn.