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 Reinforcing our Commitment to a Net-Zero Future Tackling carbon emissions is the collective responsibility of companies, governments and wider society. Swire Properties is constantly seeking opportunities to communicate our SD ambitions to a broader audience. By sharing our sustainability work, we hope to facilitate the sharing of best practices and to drive industry momentum towards achieving net-zero. This year, our Chief Executive, Tim Blackburn took part in World Green Building Council’s “Placemaking for a Net-Zero Future” global webinar, sharing how Swire Properties is leading the way for other in achieving our net-zero goals. Click here for a video of Mr Blackburn explaining our progress towards net-zero. Net-zero Roadmap Swire Properties was the first real estate developer in Hong Kong and the Chinese Mainland to join the Business Ambition for 1.5°C campaign, led by the Science Based Targets initiative in partnership with the United Nations Global Compact. We have put in place approved 1.5°C-aligned science-based targets to support the delivery of net-zero emissions before 2050. In 2022, our Scope 1 and Scope 2 emissions accounted for 28% of our total carbon emissions. We developed a carbon management hierarchy to prioritise our actions. Our core focus is on reducing demand for energy and resources in both the landlord and tenant areas, then improving the efficiency of our energy and material consumption before switching to low-carbon energy sources – this prioritisation will help maximise our carbon abatement in the most cost-effective manner. 72% of our 2022 emissions came from Scope 3 activities along our value chain. While working to decarbonise our operations, we recognise that we also have an important role to play in facilitating emissions reductions along our value chain through collaborations with our partners. SUSTAINABLE DEVELOPMENT REPORT 2022 178