Caring for Nature

Managing Our Environmental Performance

Prosperity REIT is dedicated to maximizing unitholders’ value through a livable ambiance for work and leisure. Incorporating the concept of “respect for nature” into the founding pillars of our sustainability strategy, Prosperity REIT strives to promote green living at our workplace and to the wider community. To sustain our efforts in environmental management, this year we established performance targets under different environmental aspects. Following our visions, the REIT Manager has actively managed the REIT’s environmental performance to decouple the environmental footprint of our existing assets.

Improving Indoor Environmental Quality (IEQ)

In order to minimize toxic and harmful chemicals in indoor environment, the Green Cleaning Plan, is implemented. It is formulated according to the requirements of the Hong Kong Green Building Council, BEAM Plus for Existing Buildings (Version 2.0) and other environmental guidelines. Standards for cleaning equipment and product are explained while standard operating procedures are also provided for different types of cleaning activities. Our Property Manager is responsible for maintaining and reviewing the Plan.

Reducing Energy Consumption and Greenhouse Gas Emissions

To respond to global calls for climate action, limiting greenhouse gas emissions from business operations has become a paramount priority of every responsible corporate. Since energy use in buildings accounts for most of the greenhouse gas emissions in Hong Kong, Prosperity REIT is committed to reducing its energy consumption through different initiatives.

To achieve these targets, more efforts are still needed to upgrade our building facilities and equipment. Looking forward, the REIT Manager has developed an action plan which seeks to further unlock our energy-saving potentials through various measures.

  Prosperity REIT’s Asset Enhancement Action plan (Starting from 2020 and beyond) Coverage
Icon 1 1. Installing check meter for electricity reading to enable efficient energy monitoring and management practices • All properties
Icon 2 2. Installing solar panels at selected properties to step up our efforts on renewable energy adoption • 9 Chong Yip Street
• Prosperity Place
Icon 3 3. Replacing a chiller and its pump sets to enhance our cooling efficiency • Prosperity Millennia Plaza
Icon 4 4. Replacing remaining T8/T5 light fitting with energy efficient LED lighting • All properties

Apart from upgrading our properties hardware, the REIT Manager also adopted different environmental measures to achieve optimal energy efficiency and energysaving results during our operations. For instance, the Property Manager will make use of smart building management systems and motion detectors to enable the power-down of non-essential lights, elevators and other facilities in our assets. By shutting down unused facilitates during nighttime, we avoid energy wastage during non-operation hours.

Conserving Water Resources

Since water is the precious resource on planet earth, we have been meticulously finding ways to limit the water consumption of our property portfolio. To live up to our visions, our Prosperity REIT promises to reduce 2% and 5% water consumption in our properties by 2025 and 2030 respectively, using our consumption data in 2017 as our baseline.

Greening Our Properties

Certification of BEAM Plus Existing Buildings V2.0 Selective Scheme (Energy Use and Management Module) accredited by Hong Kong Green Building Council.

As green building becomes the major trend in the property development and management industry, Prosperity REIT sets out its vision on green building. By 2030, the REIT aims to get at least 80% of its property portfolio’s total GFA recognized with green building or other external certifications.

In 2020, we completed an Energy Use assessment module of BEAM Plus Existing Buildings V2.0 Selective Scheme at Prosperity Millennia Plaza and received an “Excellent Grade” result. With step up efforts in 2021, an “Excellent Grade” result was achieved in Management assessment module of BEAM Plus Existing Buildings V2.0 Selective Scheme across six of our properties, including The Metropolis Tower, 9 Chong Yip Street, Prosperity Place, Trendy Centre, Prosperity Center and New Treasure Centre. The pre-set 2030 target has been reached with 100% of our portfolio recognized with green building certifications. In the future, we will put efforts into achieving more accreditations and ensuring that environmentally-friendly features are added to our property design.

Limiting Waste Generation

With our commitment to reducing waste generation, a 3-R strategy (Reduce, Reuse and Recycle) is in place in our daily business operations. Every year at our properties, we recycle and reuse Christmas trees to prevent unnecessary purchases.

  2018 2019 2020
Non-hazardous waste      
Paper consumed (kilograms) 938 997.6 897.8
Toner cartridge waste used (pieces) 5 10 2
Paper recycled1 (kilograms) 5,819 4,983 7,185
Toner cartridge waste recycled (pieces) 5 10 2
Glass bottles recycled1 (kilograms) N/A N/A 61
Hazardous waste      
Fluorescent light tube replaced (pieces) 738 798 754
Fluorescent light tube recycled (pieces)1 295 392 320
Computer waste recycled (pieces)1 22 0 25

Involving Tenants and External Parties

To maximize the impact of our environmental advocacy, we believe Prosperity REIT should take initiatives to engage external stakeholders in taking collective action. For years, Prosperity REIT has been actively partnering with a charitable organization ELCHK to organize activities for our tenants and neighbors. Through our events, we hope not only to encourage more people to cherish the beauty of nature but also foster good social cohesion in different community sectors.

Caring For Tenants

Our Response to COVID-19

To minimize the risk of COVID-19 spreading in the workplace, we work together with our tenants on social distancing and avoid unnecessary social activities. We used to host our tenant engagement event annually to provide a platform for our staff to interact proactively with our tenants and build strong business relationships.

Protecting Data and Privacy

Property management operations always involve the collection of visitors/tenants personal data. Thus, we ensure to exercise extreme caution to protect the information provider’s privacy in our day-to-day operations. 

Handling Complaints

To enhance the efficiency and effectiveness of complaint resolution, we have adopted a working instruction for the purpose. Our tenants can raise their concerns or requests by mail, phone, fax, email or in person. As soon as the information is received, we will take prompt action to offer corrective and preventive solutions to the tenants.