How does NWD integrate sustainability into its core business?

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NWD's Integration of Sustainability into Core Business Operations

New World Development Company Limited (NWD) has demonstrably integrated sustainability across its business operations, a commitment recognised by its inclusion in TIME Magazine's "World's Most Sustainable Companies of 2024" list, where it ranked 43rd globally. This recognition stems from NWD's proactive incorporation of sustainability into its business models, focusing on the development of green buildings, reduction of carbon emissions and energy intensity, and active support for the transition to a low-carbon economy.
Science-Based Targets and Renewable Energy Transition

NWD has established and received approval from the Science Based Targets initiative (SBTi) for its short-term 1.5°C targets, signifying a commitment to aligning its operations with global climate goals. Furthermore, the Group is dedicated to formulating long-term targets in accordance with the SBTi's Net-Zero Standard. Complementing these targets, NWD has developed a comprehensive Renewable Energy Roadmap. This roadmap outlines an ambitious goal of achieving 100% renewable energy usage in its rental properties within the Greater Bay Area by fiscal year 2026, with a subsequent target for Greater China by fiscal year 2031. The Group also actively pursues the installation of renewable energy generation systems in both new and existing projects to foster broader market development.
Climate Risk Management and Resilience

The Group systematically embeds climate considerations into its risk management processes and investment decision-making frameworks. This is operationalised through the implementation of its "Climate Resilience Guideline," which mandates the incorporation of climate change mitigation and adaptation measures throughout various project stages, including design, major refurbishments, and construction activities. NWD has undertaken preliminary climate-related risk assessments at multiple locations across Hong Kong and Mainland China, with more detailed surveys conducted on assets identified as potentially high-risk to ensure appropriate mitigation strategies are in place.
Leadership in Sustainable Finance

NWD has been a pioneering force in the realm of sustainable finance within Hong Kong. In 2018, its K11 ATELIER King's Road property, which achieved triple platinum certifications for WELL Building Standard, LEED, and Hong Kong's BEAM Plus, was instrumental in securing Hong Kong's first green loan. Expanding on this leadership, NWD collaborated with DBS Hong Kong to facilitate Asia's first loan specifically linked to Global Real Estate Sustainability Benchmark (GRESB) performance. Moreover, NWD distinguished itself as the world's first developer to issue a dual tranche offering of social and green bonds denominated in US dollars in the public bond markets.
Promoting Diversity and Inclusivity

Beyond environmental initiatives, NWD actively champions workplace diversity and inclusivity. The Group has achieved a notable female representation of 35.3% on its board, placing it among the highest in Hong Kong-listed companies. This commitment extends to the implementation of a range of measures and social innovation programmes designed to support the mental and physical well-being of its employees, reflecting a holistic approach to corporate responsibility.

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How does NWD integrate sustainability into its core business?

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