Sino Group Announces Sustainability Vision 2030
Creating Better Lifescapes through Initiatives in Adopting Renewable Energy, Reducing Single-Use Plastics and Redefining Property Development Philosophy
HONG KONG, CHINA - Media OutReach - 23 October 2020 - Sino Group today announced its Sustainability Vision 2030 ('SV2030') initiative in support of the United Nations Sustainable Development Goals (UNSDGs). Under its SV2030, the Group has set sustainability goals that align with the six key areas of focus under its 'Creating Better Lifescapes' vision, and adopt a new 3R Strategy (Renew, Reduce, Redefine) to address Hong Kong's sustainability challenges. This includes the adoption of over 3,200 solar panels to generate renewable energy sources, reducing consumption of single-use plastics (SUP) by 50% across all business lines by 2022, and developing green properties that are wellness-centric.
Sino Group's plan to install over 3,200 photovoltaic panels on the rooftops and exteriors across 19 properties and three hotels will complete in 2021.
'At Sino, sustainability is integrated in every aspect of operations as we seek to create values for stakeholders and make business a driver of sustainability for a better future. The Sustainability Vision 2030, covering crucial areas such as renewable energy, plastic reduction, green building certification and innovative sustainability solutions, is an important blueprint charting the course for 2030 and beyond. I would like to thank our partners for the staunch support, and look forward to creating better lifescapes as we continue on our sustainability journey,' remarks Mr Daryl Ng, Deputy Chairman of Sino Group.
RENEW: Renewable Energy Sufficient to Power 1,200+ Households
As an early responder to the air pollution issue, Sino Group has committed to a 30 per cent reduction in greenhouse gas emissions by 2030 from the 2012 level.
The Group's work on building a sustainable future for Hong Kong actually predates the SV2030 initiative. In 2018, the Group was one of the earliest industry players to install photovoltaic systems on its properties, and its plan to install over 3,200 panels on the rooftops and exteriors across 19 properties and three hotels will complete in 2021. To date, over 3,000 photovoltaic panels have already been installed. Over 8,000,000 kWh of energy will be generated through the photovoltaic system by 2030 from the 2012 level - equivalent to the energy consumption of 1,279 local households for one year. Pilot projects to explore other renewable energy sources that can work within the space limitations of Hong Kong are also underway, such as the Group's award-winning in-building hydropower system and rooftop wind turbines.
Since September 2019, the Group has also worked closely with local PropTech company, Negawatt, to leverage big data, Internet of Things (IoT) and Artificial Intelligence (AI) to enhance the Group's energy efficiency levels. The pilot programme at Exchange Tower has achieved an eight per cent year-on-year reduction in chiller plant energy consumption while maintaining the same level of indoor comfort. The energy saved is equivalent to the annual energy consumption of 37 local households. The system is expected to be deployed at another 13 buildings under the Group.
REDUCE: Reducing Single-Use Plastic Consumption by 50% Across all Business Lines
The Group will continue its effort to reduce the consumption of Single-Use Plastics (SUP) as part of its SV2030 commitment. The initiative aims to halve the Group's SUP consumption by 2022 (from 2017 level) across all business lines. Since 2018, the Group has saved over 1.98 million plastic bottles by installing smart filtered water stations at its malls and hotels. This has translated into carbon emission reduction by around 3,140,000 kg, equivalent to planting 136,539 trees.
'Sino Group is among the first in the industry in setting a plastic reduction target and installing smart filtered water stations at its premises. Currently, the Group has the largest network of smart water dispensers in Hong Kong. We are glad to see the Group's swift execution in contributing to protecting the Earth through reducing the use of plastics,' Ms Ada Yip, CEO of Urban Spring remarks.
REDEFINE: Pursuing WELL™ for All
'We believe in the well-being of both the environment and people and target to achieve WELL™ certification for all of our new projects in Hong Kong, on top of BEAM Plus certification,' said Mr Ng. 'Our focus on WELL™ underscores our people-centric design philosophy and commitment to supporting the health and well-being needs of our users in the post-COVID new normal.'
The Group currently has the largest number of new buildings in Hong Kong that are registered and listed under the WELL v2™ project directory. 133 Portofino, the Group's new project at Sai Kung was the first residential property in Hong Kong to receive WELL Core v2™ pre-certification, followed by St. George's Mansions and the Group's new commercial development at Wong Chuk Hang. WELL™ is the world's first architectural benchmark focused exclusively on human health and wellness to improve sustainability, WELL™ identifies 10 concepts of the built environment that make a positive impact on human health and well-being, namely air, water, nourishment, light, movement, thermal comfort, sound, materials, mind and community.
REDEFINE: Incubating Innovative Sustainability Solutions for the Property Sector
Sino Group also believes Hong Kong's path to a sustainable future is paved with technology. It will further explore innovations that improve sustainability and wellness as part of its SV2030. Working with Sino Inno Lab, the Group will support and partner with start-ups and inventors, as well as invest in PropTech (property technology) solutions.
Established in 2018, Sino Inno Lab serves as a sandbox platform for technology companies and start-ups to test out innovative solutions that benefit the industry as a whole. So far, it has already nurtured more than 100 PropTech solutions, connecting more than 400 companies on technology sourcing.
Sino SV2030 is the Group's latest Environmental, Social and Governance (ESG) commitment in line with the UNSDGs and sets clear directions in embracing sustainability across the Group's six strategic pillars -- Green, Wellness, Design, Innovation, Heritage and Culture, and Community.
Note to Editors
<Refer to the appendix for details of the sustainability goals under SV2030>
Appendix
Sino Group Sustainability Vision 2030
Sustainability Goals
Green
- By 2030, achieve a GHG emission reduction of 30% from our 2012 baseline (covering the common areas of 51 properties under our management)
- By 2022, reduce single-use plastic consumption by 50% across all business lines from our 2017 baseline
- By 2030, achieve a renewable energy generation of 8,000,000 kWh from the 2012 level
- By 2025, 60% of seafood served at the Group's hotels will be purchased from sustainable sources
Design
- Achieve BEAM Plus certification for all of our new buildings in Hong Kong
- Seek to achieve WELL™ certification for all of our new buildings in Hong Kong
- Continue to adopt sustainable building standards and invest in improvements across our portfolio
Wellness
- Deliver products and services that enhance the wellness of our stakeholders
- Improve the wellbeing of our employees through wellness programmes covering work, family, physical health and mental health
- Increase training hours per employee by 50% by 2025 and 100% by 2030 from 2019 level
- Increase recruitment diversity by employing different ethnic groups and less-abled personnel
Innovation
- Foster a culture of innovation that enables colleagues and external innovators to test out new ideas and build a mechanism to apply new technologies in our business operations
- Receive ISO 27001 (Information security management) certification by 2025
Heritage & Culture
- Work on revitalisation of heritage building, promote appreciation of heritage conservation as well as arts and culture to enrich life
Community
By 2025
- Improve the well-being of 5,000 less-resourced families
- Establish a wellness education programme to promote health education in the community
- Support 150 primary schools and enhance the school environment by providing wellness education
- Collaborate with local NGOs to promote social inclusion
- Collaborate with NGOs to help women from less-resourced families contribute to the community
By 2030
- Develop long-term, mutually-beneficial relationships aimed at
· enhancing the quality of life of all our stakeholders, including individuals, groups and the wider community; and
- · promoting social inclusion
About Sino Group
Sino Group is one of the leading property developers in Hong Kong. It comprises three listed companies -- Sino Land Company Limited (HKSE: 083), Tsim Sha Tsui Properties Limited (HKSE: 0247) and Sino Hotels (Holdings) Limited (HKSE: 1221) as well as private companies held by the Ng Family.
The Group's core business is developing residential, office, industrial and retail properties for sale and investment. In addition to an extensive portfolio in Hong Kong, the Group has footprints in mainland China, Singapore and Australia. The Group has developed more than 220 projects, spanning a total plot ratio area of over 84.6 million sq. ft. Our core business is complemented by the gamut of property services encompassing management, security and environmental services to ensure a seamless Sino Experience. We are also a key player in hotel and club management.
The Group employs more than 10,000 committed staff members, who share the vision of creating better lifescapes. Lifescape is our vision -- to build a better life together, where the community thrives in harmony by embracing green living and wellness, by engaging with all and pursuing meaningful designs, and by seeking innovation while respecting heritage and culture. Committed and together, we create a better community where people live, work and play.
The Group focuses its sustainability efforts on six areas, namely Green, Wellness, Design, Innovation, Heritage & Culture, and Community. Sino Land Company Limited (083) has been a constituent member of the Hang Seng Corporate Sustainability Index Series since September 2012 for its continual efforts in promoting sustainability.
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