With the extensive reach of our business, the Group is devoted to making a positive impact in the face of climate change. Across our business units, we act responsibly by reducing and managing carbon emissions and waste from our operations. The Group is among the first to disclose its GHG emissions on the carbon footprint repository for listed companies in Hong Kong.
 
The Group recognises that the changing climate can potentially affect our assets physically, day-to-day operations and other business aspects. In 2024, the Group conducted a climate scenario analysis and risk mapping exercise to evaluate climate-related risks and opportunities.  We formulate policy, strategy and adaptive measures to reinforce our climate resilience and mitigate the potential impacts. We will continue to refine our climate risk management framework to ensure its robustness and applicability.
 
We made substantial efforts in climate-related disclosure and targets setting. By the end of 2024, we have committed to Science Based Targets Initiative (“SBTi”) for science-based targets setting and submitted the near-term targets for validation.

The Group's near-term science-based greenhouse gas (“GHG”) emissions reductions targets have been validated by SBTi; our work to drive for sustainability is entering a new chapter.

Our Decarbonisation Progress: Validated 1.5°C Pathway

The Group remains steadfast in its commitment to science-based climate action, underscored by the official validation of our near-term targets by the SBTi in mid-2025. Aligned with a 1.5°C trajectory, we have pledged a 42% absolute reduction in Scope 1 and Scope 2 GHG emissions by 2030, using 242,759 tonne CO2e in 2022 as the baseline. We are pleased to report that, as of our latest inventory, the Group has already achieved 42% reduction against the baseline (market-based), driven by the implementation of technological operational efficiencies and renewable energy procurement as well, across our diverse portfolio. More information about our annual GHG emissions in 2025 can be found on P.50 of our 2025 sustainability report here.

Regarding our broader value chain, we are targeting a 25% reduction in Scope 3 emissions by 2030. Our material impact areas—specifically capital goods, downstream leased assets, and investments—have seen a notable 94% reduction against the 2022 baseline. This progress is primarily attributed to the strategic completion of major construction projects in 2024, coupled with a sharpened focus on low-carbon procurement. Moving forward, we will continue to integrate climate-resilient technologies and maintain a robust monitoring framework, ensuring we remain on track to meet our 2030 milestones while adhering to the highest standards of SBTi transparency.