Hongkong Land’s Entire Central Portfolio Achieves LEED Platinum Rating, Representing 27% of all LEED EBOM Platinum-Certified Buildings in Hong Kong

HONG KONG SAR - Media OutReach Newswire - 7 May 2024 - Hongkong Land proudly announces that its Central portfolio buildings in Hong Kong have all achieved LEED for Existing Buildings: Operations & Maintenance (LEED EBOM) Platinum ranking as recognised by the U.S. Green Building Council. LEED EBOM measures actual data from building performance instead of design or simulated data. The result is a testament to Hongkong Land's longstanding commitment to excellence across property management and upgrading existing buildings in meeting the highest green building standards. This demonstrates that retrofitted buildings can often surpass the requirements of new buildings in terms of energy efficiency standards. In some cases, these upgrades can even achieve higher efficiency standards than newly constructed buildings.

Mr. Kenneth Foo (left), Executive Director at Hongkong Land, receives the LEED Platinum certification under “V4.1 Operation and Maintenance: Existing Buildings” from Mr. Peter Templeton (right), President & CEO at U.S. Green Building Council

As the single largest owner of LEED EBOM Platinum rated office buildings in Hong Kong, Hongkong Land's Central Portfolio represents 27% of all LEED for Existing Buildings: Operations & Maintenance (LEED EBOM) Platinum-certified buildings in the city. The Central Portfolio's LEED EBOM Platinum certification, coming on top of its existing BEAM Plus Platinum certification from the Hong Kong Green Building Council (HKGBC) solidifies Hongkong Land's position as a leader in sustainable building practices in Hong Kong.

Retrofitting existing buildings has resulted in the average energy utilisation index of Hongkong Land's offices being within the top 15 percentile of Grade-A offices in Hong Kong and within the top 10 percentile amongst buildings with office and retail components. This clearly demonstrates that retrofitted buildings can achieve the same energy efficiency standards as new buildings without the carbon-intensive process of new construction.

Kenneth Foo, Executive Director at Hongkong Land said, "This recognition clearly demonstrates that you don't have to be new to be more sustainable. In fact, Jardine House which is home to some of Hong Kong's most impressive global and local organisations, was completed in 1973 and is the highest performing building in our Central Portfolio across water efficiency, energy efficiency, air quality, and waste diversion."

These certifications are a result of the ambitious sustainability targets Hongkong Land set in its Sustainability Framework 2030. The Group has set science-based targets approved by the Science Based Targets initiative (SBTi), aiming for an absolute reduction of 46.2% in emissions by 2030 from 2019 levels. Additionally, Hongkong Land is reducing Scope 1 and 2 carbon emissions by 29% against a 2019 baseline. Hongkong Land will release its 2023 sustainability progress report in May, further detailing its progress and setting new targets.

Hongkong Land's strategy to achieve these targets has been to focus on improving energy efficiency in existing buildings, while also working to monitor and reduce the embodied carbon required for new builds with its bespoke embodied carbon measurement tool. The tool uses a supplier-based approach tailored to supply chains across the region, which allows the identification of carbon saving opportunities across the design, tendering and construction processes. Embodied carbon refers to the carbon dioxide (CO₂) emissions associated with materials and construction processes throughout the entire lifecycle of a building, and can account for up to 50% of the total carbon footprint of a building.

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