Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview CClimlimaattee Waste Water People Communities SwireTHRIVE – CLIMATE Decarbonise our business and build climate resilience CO emissions 2022 Group carbon footprint 2022 Progress against targets 2 4.2% 1.4% 649,000 9.0% 30.2% 2022 2030 2050 tonnes -19%* -50%* Net zero 11% reduction from 2021 728,000 tonnes 55.1% *Compared with 2018 baseline The scienti昀椀c reality of climate change Our approach Swire Properties and Swire Coca-Cola have is being felt increasingly by communities We are committed to play our part to set science-based targets aligned with the globally. To avert the worst e昀昀ects of limit global temperature rise to 1.5°C, in 1.5°C pathway and approved by Science the rapidly changing climate, the world line with the Paris Agreement. Progress Based Targets Initiative (SBTi). Both needs to limit global temperature rise to requires technological advancements, companies have signed up to Business 1.5°C and transition to a net zero carbon mature markets, and enabling policy Ambition for 1.5°C. emissions economy by 2050. environments. Our strategy is to support To reduce emissions, we are: Failure to mitigate climate change, or their development. adapt to it, represent the two most SwireTHRIVE and our Climate Change severe global risks over the next decade, Policy outline what we will do to underscoring why the Group has identi昀椀ed reduce our emissions and adapt to it as a key risk. According to the World climate change. Improving energy Using more e昀케ciency renewable energy Meteorological Organization (WMO), the chance of breaching the 1.5°C target before 2030 stands at 50%. Every fraction Reducing GHG emissions of a degree counts. CO 2 Our ambition is to achieve net zero Our businesses will be a昀昀ected by climate change directly and by governmental and emissions by 2050. This will not be easy. Choosing low-carbon Encouraging our suppliers and regulatory mitigation and adaptation We operate and invest in the carbon and energy e昀케cient products customers to responses. Decarbonising our operations intensive aviation sector, which is di昀케cult decarbonise in all sectors where we operate is a to decarbonise without breakthroughs in strategic imperative. We must also reduce alternative fuel technology. The Group and its operating company value chain emissions and strengthen our Our interim target is to halve our scope 1 Swire Properties both received an A- resilience to climate impacts. and 2 emissions by 2030, compared with a rating in the 2022 CDP Climate Change 2018 baseline. Each of our businesses has questionnaire. individual targets aligned with science, nationally determined contributions, or international industry commitments. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 25