MENU PLACES PEOPLE PARTNERS PEPERRFOFORRMMAANNCCEE PERFORMANCE ((ENENVVIIRROONNMENMENTT)) (ECONOMIC) Performance (Environment) Policies 2022 Progress Profile of Environmental Impacts Climate Change Energy Resource and Circularity Water Biodiversity Occupant Wellbeing Building/Asset Investments Resource and Circularity GRI We are committed to supporting the transition towards a circular economy by reducing and managing 306 waste effectively and promoting circularity across our operations. We aim to identify the impacts of HKEX Aspect A1, waste disposal from our business activities, set targets to continually improve our waste management A2, A3 performance and incorporate waste prevention considerations into our procurement processes. KPI A1.6, A3.1 Focusing on Resource Management and Circularity In 2017, we developed our Waste Management Policy to guide our approaches to reducing waste, from the design and construction phases of our projects to the daily operation and management of our buildings. In 2020, Swire Properties began to review this policy to highlight the value of rethinking resource use and promoting circularity and in 2021, we announced our Resource and Circularity Policy, putting greater emphasis on “designing out” waste and keeping products in use while continuing to enhance resource recovery and recycling across our operations. Reframing waste in the context of resource use and management encourages our employees, tenants, suppliers and others with whom we do business to engage with the topic with greater positivity and creativity before resources are consumed. This approach supports our transition to a circular economy and our goal to achieve zero waste to landfill by 2050. The emphasis on circularity will also help prepare the Company and our tenants for upcoming waste-related legislation, such as the compulsory garbage sorting legislation that has been introduced in major Chinese Mainland cities and the municipal solid waste charging legislation in Hong Kong which may be enacted in the latter half of 2023. Our Resource and Circularity Taskforces in Hong Kong and the Chinese Mainland – made up of representatives from our technical services and sustainable development department, portfolio management teams and hotels – meet regularly to evaluate our resource management strategies, analyse waste data, review progress towards our 2025 and 2030 KPIs and facilitate new circularity initiatives. Waste Diversion Rates We track and collect data on more than 20 types of waste produced by our office and retail tenants, hotel guests and occupants of our residences. We strive to manage the downstream processes of each waste stream and work closely with recycling partners to provide secure outlets for the recyclables we collect. 25.4% 44.8% Commercial waste diversion rate in our Commercial waste recycling rate in our Hong Kong portfolio (including Hotels) Chinese Mainland portfolio (including Hotels) Total amount of waste recycled 3,340 tonnes 8,363 tonnes Hong Kong portfolio (including Hotels) Chinese Mainland portfolio (including Hotels) SUSTAINABLE DEVELOPMENT REPORT 2022 199