We aim to optimize our use and management of natural resources, including energy, water and materials. Energy efficiency can lead to significant cost savings, and water scarcity is an important issue in many of the cities where we have properties. In general, responsible resource management constitutes good corporate citizenship and benefits our communities. Our efforts to use resources responsibly will encompass all our activities and materials and help support the transition to a circular economy.
Since 2015, we have been working towards a 12% reduction in our electricity intensity by construction floor area for our entire managed portfolio by the end of 2020. As of the end of 2019, we have already made good progress towards this target, having achieved a 10.6% reduction in our electricity intensity by construction floor area. Examples of initiatives contributing to the enhanced energy efficiency of our portfolio include:
- Upgrading Building Management Systems
- Major asset enhancements to improve operational efficiency, including chiller upgrades, lift replacement and lighting retrofits
- Optimization of major building facilities’ operating schedules
The bulk of our waste is generated through the operation of our properties and tenants. We have adopted a variety of measures to divert waste from landfill and facilitate recycling at our properties, including but not limited to:
- Regular collection services for key recyclables, including paper, plastics, metal and glass bottles
- Food waste collection services for F&B tenants at selected properties in Hong Kong, such as Amoy Plaza and Kornhill Plaza; and for all properties in mainland China;
- Umbrella dryers at selected commercial properties in Hong Kong to reduce the consumption of plastic umbrella bags
- Paperless parking system in mainland China, which is estimated to avoid at least 6.4 million tickets annually
Hang Lung recognizes water scarcity as a severe global challenge, and most of the cities in which we operate are in areas with water stress. To cope with this foreseeable challenge, we have adopted a wide range of measures to reduce water consumption at our properties, including installing water-efficient fittings and rolling out initiatives to raise awareness on water conservation among our employees, customers and tenants.