Looking Ahead
As we look ahead to the upcoming year, the Group is committed to building on our achievements and driving sustainable transformation across our operations. We are dedicated to creating lasting value for the people and communities we serve, while aligning our efforts with practices that benefit both society and the environment. Our focus remains on innovation, collaboration, and accountability as we work towards a more sustainable and resilient future.
Strengthening Board Governance
Following the Group restructuring, the Executive Committee was transitioned to the Board of Directors of Chinachem Group Holdings Limited (the “Board”) on 1 July 2024. The new Board composition, with the appointment of three Non-Executive Directors and two Independent Non-Executive Directors, aims to enhance its effectiveness, diversity perspectives and independent view in decision making.
Towards Carbon Neutrality: Decarbonisation and Net-Zero Target
Guided by our Chinachem Group Carbon Reduction Roadmap – CCG 3050+, we will advance our initiatives to achieve decarbonisation in our operations.
Key upcoming initiatives to achieve carbon reduction focus on enhancing the energy efficiency of our chiller plants and heat pumps. Building on the success of the first chiller plant unit upgrade under our zero-carbon chiller system replacement project at Nina Tower, we will proceed with the upgrading of remaining plant units and implement artificial intelligence (“AI”) for energy optimisation, anticipating to yield up to 45% energy savings. Furthermore, we are exploring opportunities in heating and cooling with high potential for further energy saving and asset condition improvement.
Additionally, we are committed to increasing our green building certifications coverage our properties further in FY2024/25. These continuous improvements in our green building initiatives will enhance energy efficiency and significantly contribute to our carbon reduction goals. We are also in the process of setting our Science Based Targets initiative (“SBTi”) net-zero target aligned with the 1.5°C pathway, demonstrating our dedication to mitigating climate change through scientifically grounded strategies. These endeavours underscore our unwavering commitment to enhancing energy efficiency and reducing carbon emissions.
Building a More Resilient Future: Sustainability Conference
Building on the success of our Chinachem Group Sustainability Conference 2023 in late 2023, which attracted over 2,600 participants, we are preparing for an even larger and more impactful event in 2024. The conference will expand its thematic scope to discuss the importance of integrating sustainable solutions for a resilient future, in line with our commitment to promoting sustainable development and creating a more liveable city.
Fostering Green Communities: The Green Tenant Engagement Programme
Our green tenancy initiatives launched this year have been an initial success in promoting sustainability among tenants. We incorporate sustainability clauses in tenancy agreements, provide comprehensive fitting-out guidelines and engages with our tenants to improve well-being. Through an innovative digital platform that allows tenants to share electricity bills, take green actions, and participate in quiz challenges, we work with tenants to achieve measurable carbon savings and promote sustainability and well-being. Going forward, we will deepen tenant engagement by providing additional support, ensuring sustainability is integrated into every aspect of our leasing practices.
Commitment to Biodiversity Conservation: TNFD
Being an early adopter of the Taskforce on Nature-related Financial Disclosures (“TNFD”), we have launched our first study this year. We will integrate the findings into our decision-making processes and develop metrics to monitor and assess our nature-related performance, ensuring alignment with our overall sustainability strategy.
Investing in a Greener Future: Sustainable Financing
Recognising the pivotal role of sustainable financing in the transition to a low-carbon economy and nurturing more liveable cities, we are positioning ourselves as the first real estate developer to align with both the Hong Kong Taxonomy for Sustainable Finance and the IPSF’s Common Ground Taxonomy through our enhanced Sustainable Finance Framework. This comprehensive framework will enhance the governance of our financial decision-making processes, moving us closer to our objective of generating long-term value for our stakeholders and the communities we support.
Dedication to Social Impact: The Group’s Volunteerism
Our dedication to social impact continues to grow through initiatives like CCG Hearts, which has seen a ninefold increase in volunteer hours this year. In the year ahead, we will expand our partnerships with NGOs to address emerging societal needs, leveraging the expertise of our colleagues to maximise community impact.
Our commitment to sustainability, collective prosperity and societal advancement propels us forward. Together, we will continue to advocate for a future that embraces these values, creating positive and lasting impact for generations to come.
