HONG KONG, June 20, 2018 /PRNewswire/ -- Hang Lung Group Limited (Stock Code: 00010) and Hang Lung Properties Limited (Stock Code: 00101) today published their online Sustainability Reports 2017, covering the challenges and achievements of the two companies in pursuing sustainability throughout their day-to-day operations for the period January 1 to December 31, 2017.
Hang Lung’s latest Sustainability Reports highlight the Companies’ achievements in sustainability during the financial year January 1 to December 31, 2017.
Building upon their successes over the past five years, the Companies have adopted a new sustainability framework this year which takes into account the emerging global trends outlined in the United Nations' Sustainable Development Goals (SDGs). This new framework sets Hang Lung on the path to develop longer-term goals and plans that will bring the Companies' sustainability initiatives to the next level.
The year 2017 marked the inclusion of Hang Lung Properties as an Index Component of the Dow Jones Sustainability Indices (DJSI) in the Asia Pacific Index for the first time, in recognition of the Company's stellar efforts. Reflecting on our longstanding efforts to promote a culture of sustainability awareness across the organization, Mr. Philip Chen, Chief Executive Officer of Hang Lung Group and Hang Lung Properties, said, "We adopted a different and very systematic approach to sustainability six years ago. The pursuit of excellence in this area has never been easy. We have made sustainability a core value of our own. I am confident that our colleagues will continue to uphold our business philosophy, We Do It Right, in our commitment to sustainability."
Remarkable milestones in 2017 included the completion of asset enhancement programs at Plaza 66 in Shanghai and at Fashion Walk in Hong Kong. These asset enhancement programs not only increased the profitability of Hang Lung's portfolio, but also optimized the energy and operating efficiency of the projects by adopting new technologies and approaches. Last year, the Company invested over HK$40 million in a Clean Air Initiative, to enhance the indoor air quality at our properties in mainland China.
Below are the Companies' sustainability highlights in 2017:
Driving Purposeful Business
- Rolled out the new Customer Engagement Survey at our malls in mainland China and received an average of 90% overall customer satisfaction.
- Invested over HK$40 million in the Clean Air Initiative to upgrade air filtration systems at malls and office towers in mainland China to enhance indoor air quality.
Building Cohesive Workforce
- Delivered 86,469 hours of training to staff.
- Launched the Hang Lung Challenge to enhance employee understanding of the Group and strengthen team spirit.
- 40% of our executive staff members are female.
Conserving Natural Capital
- Achieved 9% reduction in electricity intensity at properties in Hong Kong and mainland China in 2017 against the 2015 baseline, just 3% away from the 2020 target.
- Replaced air-cooled chillers with more energy-efficient water-cooled chillers at 14 properties in Hong Kong since 2006, cumulatively reducing electricity consumption by 96 million kWh, equivalent to HK$123 million.
- Reduced water consumption by 12% at properties in mainland China in 2017, compared to 2016.
Safeguarding Common Future
- Organized over 100 volunteer activities under the theme "Shaping the Future" in Hong Kong and the Mainland, contributing over 12,000 volunteer service hours.
- Launched the "Hang Lung Young Architects Program" in collaboration with leading local cultural enterprise "Walk in Hong Kong" to enable over 300 secondary school students to better understand architecture and its connection with the community.
The Hang Lung Sustainability Reports are prepared in accordance with the core option of the Global Reporting Initiative (GRI) Standards and adopts the revised Environmental, Social, and Governance Reporting Guide (ESG Guide) contained in Appendix 27 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong. Information in the Reports has been independently verified by the British Standards Institution.
The Sustainability Reports 2017 are now available for download from the Company website at www.hanglung.com.
Hang Lung Group
Hang Lung Properties
About Hang Lung Properties
Hang Lung Properties Limited (stock code: 00101), a constituent stock of the Hang Seng Index and Hang Seng Corporate Sustainability Indices in Hong Kong, and the Dow Jones Sustainability Asia Pacific Index since 2017, is a leading real estate developer operating in Hong Kong and mainland China. Boasting a diversified portfolio of investment properties in Hong Kong, the Company has progressively branched out into the Mainland since the 1990s, with our distinctive footprint now fully established in Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, and Wuhan, with all the Mainland projects carrying the "66" brand. In May 2018, Hang Lung won an auction for a prime plot of land in Hangzhou, marking the Company's expansion to its ninth Mainland city. As Hang Lung's business continues to grow, the Company is set to develop into a highly admired national commercial property developer in China.
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