Overview

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    Our Sustainability Approach

    Prosperity REIT is a responsible corporate citizen, committed to integrating sustainability into our culture and business. We believe that incorporating sustainability values in our operations will help the business to achieve long-term success for our business. The ongoing climate crisis has brought about sweeping changes to business operations worldwide, materialising both as risks and opportunities. Prosperity REIT took proactive steps to protect our businesses from rising climate risks and rode the wave of current sustainability megatrends and opportunities. A climate change policy is in place to align the business with Hong Kong’s Securities and Futures Commission’s (“SFC’s”) “Circular to licensed corporations – Management and Disclosure of Climate-related Risks by Fund Managers” (the “Circular”).

    We have shown our dedication through establishing the Sustainability Steering Committee with experienced taskforces as well as the alignment of our corporate strategies with the United Nations Sustainable Development Goals (“UNSDGs”) and global best practices. Based on the relevant SDGs, targets were developed through putting our commitment into action, forming our “Vision 2030”. The holding company for the ESR Group, ESR Group Limited, is also dedicated to sustainability and aspires to run a carbon-neutral corporation. Being a member of ESR Group, Prosperity REIT is aligned with both entities in this aspect and includes ESG considerations within our asset management and investment decisions.

    In a dynamic ESG environment, we continuously enhance our environmental performance by incorporating sustainability principles and ESG considerations in our policies, procedures, and business operations. We also have environmental and wellness initiatives implemented and hope to expand our efforts in all aspects of our business in the near future.

    Sustainability Vision 2030

    Prosperity REIT’s “Vision 2030” strives to align our sustainability roadmap with the UNSDGs. To tackle the sustainability challenges, we seek to collaborate with various stakeholders to scale up our efforts. We will closely monitor the implementation and progress of the targets in the following four areas, and report to the Board of Directors of the REIT Manager (the “Board”) on a regular basis.

    Community
    Building / Services
    Nature
    People
    Community
    Building / Services
    Nature
    People
    Nature
    People
    Community
    Building / Services

    Nature

    Climate change
    Targets/KPIs (by 2030)
    • Implement TCFD-aligned climate related disclosures in our 2024 Sustainability Report
    Progress in 2023
    • Conducted risk assessment and scenario analysis
    • Implemented TCFD-aligned climate disclosures
    Green buildings
    Targets/KPIs (by 2030)
    • Expand green building certification at the asset level
    Progress in 2023
    • 100% of our property portfolio’s total GFA recognised with external green building certification
    • “Platinum” rating under BEAM Plus Comprehensive Scheme achieved at The Metropolis Tower
    • “Platinum” rating under WELL Certification achieved at Prosperity Millennia Plaza
    Greenhouse gas emission
    Targets/KPIs (by 2030)
    • Reduce 14% and 20% Scope 2 GHG emissions in our properties* by 2025 and 2030 respectively, using our 2017 performance data as the baseline
    Progress in 2023
    • Replacement of a chiller set at The Metropolis Tower
    • Solar panels are fitted at all of our wholly owned properties where spatially feasible
    • Reduced 38% GHG emissions in our properties compared to 2017
    * The scope of target covers the environmental impacts generated from Prosperity REIT’s property management operations only and does not include tenant performance.
    Energy efficiency
    Targets/KPIs (by 2030)
    • Reduce 14% and 20% energy consumption in our properties* by 2025 and 2030 respectively, using our 2017 performance data as the baseline
    Progress in 2023
    • Replacement of a chiller set at The Metropolis Tower
    • Solar panels are fitted at all of our wholly owned properties where spatially feasible
    • Reduced 17% in energy consumption in our properties compared to 2017
    * The scope of target covers the environmental impacts generated from Prosperity REIT’s property management operations only and does not include tenant performance.
    Water management
    Targets/KPIs (by 2030)
    • Reduce 2% and 5% water consumption in our properties* by 2025 and 2030 respectively, using our 2017 performance data as the baseline
    Progress in 2023
    • Installation of rainwater collection system at Trendy Centre
    • 98% increase in rainwater capture and recycling in 2023 compared to 2022
    • Reduced 8.5% water consumption from municipal supply in our properties compared to 2022
    * The scope of target covers the environmental impacts generated from Prosperity REIT’s property management operations only and does not include tenant performance.
    Waste management
    Targets/KPIs (by 2030)
    • Identify effective waste reduction, separation and recycling opportunities by 2030
    • Increase recycling rate
    Progress in 2023
    • Waste audit was conducted
    • Full implementation of regular incentivise waste recycling programmes for tenants’ participation
    Climate change
    Targets/KPIs (by 2030)
    • Implement TCFD-aligned climate related disclosures in our 2024 Sustainability Report
    Progress in 2023
    • Conducted risk assessment and scenario analysis
    • Implemented TCFD-aligned climate disclosures
    Green buildings
    Targets/KPIs (by 2030)
    • Expand green building certification at the asset level
    Progress in 2023
    • 100% of our property portfolio’s total GFA recognised with external green building certification
    • “Platinum” rating under BEAM Plus Comprehensive Scheme achieved at The Metropolis Tower
    • “Platinum” rating under WELL Certification achieved at Prosperity Millennia Plaza

    Vision and Mission

    Developed based on the mission of ESR Group, our core values: Excellence, Inclusion, Entrepreneurship, and Sustainability, serve as the cornerstone of our sustainability vision and mission and guide our business decisions.

    Vision Statement
    Mission Statement
    Core Values
    Vision Statement
    Mission Statement
    Core Values
     
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    Commit to be a responsible corporate citizen by building a sustainable environment and enhancing the well-being of our stakeholders through our core values.