Our Environment
Wharf REIC is devoted to making a positive impact in the face of climate change. We build our climate resilience through formulating climate change policy, relevant strategy and precautionary measures. We made substantial efforts in climate-related disclosure and targets setting to align with the goals of the Paris Agreement. By the end of 2024, we committed to Science Based Targets Initiative (“SBTi”) for science-based targets setting and submitted the near-term targets for validation.
Our Decarbonisation Progress: Validated 1.5°C Pathway
As a leading company in the premier investment property sector, the Group is dedicated to supporting the transformation of the built environment towards a low-carbon future. Following the validation of our near-term targets by the SBTi in 2025, we have committed to a 1.5°C-aligned absolute reduction of 42% in Scope 1 and Scope 2 GHG emissions by 2030, from a 2022 base year of 101,531 tonnes CO2e. Our latest performance data indicate a 3% reduction relative to the baseline. This represents the initial phase of our long-term decarbonisation roadmap, which entails systematic scaling of energy-efficient measures and retrofitting of core assets. More information about our annual GHG emissions in 2025 can be found on P.50 of our 2025 sustainability report here.
In addressing Scope 3 emissions, the Group focuses on our most material impact: downstream leased assets. We have committed to a 25% reduction by 2030 and have achieved a 49% decrease against the 2022 baseline. This momentum reflects our tenants’ support for energy intensity reduction. By fostering a collaborative ecosystem and deploying advanced climate-monitoring tools, the Group propels continuous, accountable progress toward our validated 2030 targets and the long-term resilience of our premium asset portfolio.
To gradually decarbonise our business, the Group acknowledges the importance of enhancing energy efficiency and the significance of using renewable energy sources wherever possible. We conduct retro-commissioning works of chillers, upgrade the lighting system and continuously explore innovative technology solutions. The solar photovoltaic panel system on rooftop of Gateway I and II of Harbour City enables us to participate in the Feed-in-Tariff (“FiT”) Scheme by CLP.
Strengthening our resilience and using sustainable resources are intertwined with our business, therefore, we go beyond compliance with legislation and adopt international standards in managing the use of water and energy, diverting waste from landfills, as well as protecting the environment.
We also invest our efforts to promote responsible environmental behaviour. We provide employees with guidance for green procurement. Guidelines and tips are also provided to our tenants to encourage environmentally friendly practice during renovation or fit out work. We actively participate in various environmental protection schemes such as Tree Conservation Scheme, Sustainable Consumption Scheme and Green Office Labelling Scheme, etc.
Our Business Units were awarded different recognitions for their environmental efforts. Harbour City and Times Square demonstrated their excellence in sustainable building management, receiving the Platinum certification in the LEED v4.1 (existing buildings: operations and maintenance). Our key investment properties and hotel operations maintained the ISO 14001 environmental management system certifications. Our business units are also recognised under the Environmental Excellence Scheme, including Energywi$e Label, IAQwi$e Label, Wastewi$e Label and the Carbon "Less" Certificate.
