CHIEF EXECUTIVE'S STATEMENT We are also actively looking to expand our residential 40-member Taskforce on TNFD, we are proud to have portfolio in South East Asia under our HK$100 billion plan. supported the creation of this pioneering disclosure We are focused on the four major cities of Jakarta in framework, which will help companies to integrate nature- Indonesia, Ho Chi Minh City in Vietnam, Bangkok in related considerations into their investment decisions and Thailand and Singapore, and expect these markets to business operations. remain stable in 2024, due to increased urbanisation and a Our work continues, and we are on track to achieve our limited supply of luxury residential properties. ambitious 1.5°C-aligned science-based targets. We remain We expect the performance of our hotels in Hong Kong and focused on collaborating closely with our business partners the Chinese Mainland to continue to improve with more through various programmes to meet shared sustainability international visitors in 2024. In September, we were goals. These include the Green Kitchen Initiative for F&B delighted to have The Upper House ranked fourth on The tenants in our retail portfolios, and our proprietary Green World’s 50 Best Hotels list, a remarkable achievement for Performance Pledge (“GPP”) programme for office tenants. Swire Hotels. Both programmes have received a strong positive response We are moving forward with the next phase of growth for from our tenants, achieving significant results in energy The House Collective and EAST brands, with several savings, improved water efficiency and water diversion exciting projects in the pipeline, including The House rates. In 2023 we launched the “GPP Academy”, Collective hotels in Tokyo, Shenzhen and Xi’an. We have a three-year collaboration with the Hong Kong Business also been making good progress with our asset-light, Environment Council (“BEC”) which will enable our office third-party management model as we explore potential tenants to share industry knowledge and best practices to new sites with suitable partners. improve their sustainability capabilities. We also became the first real estate company in Hong Collective Measures Towards Net Zero Kong and the Chinese Mainland to launch a supply chain We continue to focus on our pioneering sustainability work sustainability engagement programme, in partnership with and our commitment to building vibrant communities, in EcoVadis. Through this collaboration, we are empowering order to realise our vision to be the leading performer in our suppliers to improve their own ESG performance and our industry globally by 2030. increase resilience, working collectively towards the global net zero goal. As an industry leader, we are taking a holistic approach to mitigating climate-related risk, and reducing our carbon Taikoo Place: Sustainability in Action footprint. We continue to invest in innovative solutions for Now more than ever, it is crucial that we, as an industry, our future, and our achievements are being recognised take steps to minimise our impact on the environment. locally, regionally and globally, including our number two The redevelopment of Taikoo Place has been a showcase ranking in the Dow Jones Sustainability World Index 2023. of our work in sustainable building development, and the We are also pioneering new ground as an early adopter of next phase of this project will highlight our extensive work the Taskforce on Nature-related Financial Disclosures in biophilic design. (“TNFD”). As the only Hong Kong representative of the 22