Collaborative commitments to sustainability are more effective than individual efforts alone in addressing universal material issues like climate change. This is why Champion REIT, a Hong Kong real estate investment trust that owns and invests in a portfolio of prime properties including Three Garden Road and Langham Place, seeks to serve as a ‘super-connector,’ leveraging stakeholders’ resources to promote environmental and social wellness that are equally essential among their internal and external supply chains, from tenants, business partners, investors, and staff, to the community.
Embarking on Net Zero journey through inaugural ESG Forum
Progressively realising the 42% reduction targets in both energy and carbon emissions by 2030, which were set in 2019 to align with nine United Nations Sustainable Development Goals (UNSDGs), the Trust has further reinforced its decarbonisation commitment by pledging with its parent company to achieve Net Zero by 2045.
Achieving these ambitious targets relies significantly on engagement from tenants, who are one of the important stakeholders across the Trust’s value chain. As such, Champion REIT has introduced novel partnership approaches targeted at collaborating with tenants to advance its environmental objectives.
Take the Trust’s inaugural ESG forum back in July, for instance. Themed ‘Championing Shared Values and Greater Resilience’, the event aimed to facilitate dialogue on transitioning to net zero emissions and promoting social inclusion. The insights imparted by the industry experts underscored the importance of collaboration to align all business and environmental decisions for an equitable green transition. Another highlight was a keynote sharing that added excitement by emphasizing how diversity and inclusion can bring people together.
Champion Green Challenge gamifies sustainable actions among office tenants
The Trust also debuted the Champion Green Challenge – an incentive-based initiative designed to encourage office tenants’ action in reducing energy consumption and waste. This six-month competition helps participating companies develop environmental management plans through formalizing timely eco-friendly policies and practices. Besides optimizing daily operations and peer benchmarking, the challenge welcomes tenants’ innovative ideas toward sparking environmental stewardship through collaboration.
Related sustainability best practices were also communicated with tenants to keep them informed on market and regulatory updates. Approximately 20% of office tenants, based on leased office space, participated in the challenge. The competition aspires to present a win-win outcome, allowing tenants to participate in making positive impacts on the environment, and enabling the Trust to collect scope 3 emission data for advancing sustainability strategies.
Co-creating shared values with customers and tenants
The Trust strives to amplify social impacts by co-creating positive, uplifting values across society through consistent multi-partnership that brings together business and community for a common goal.
An example is Langham Place Mall’s collaboration with the Hong Kong Cancer Fund as part of its Christmas campaign featuring lovable Care Bears characters. The event will feature an exclusive sale of Care Bears, with all proceeds to be donated to its Rainbow Club to help children whose families are affected by cancer. This initiative aims to actively involve customers in caring for the society while making positive impacts in a fun and engaging way.
Another trilateral collaboration is the seasonal campaign promoting warmth and care in our community. At Three Garden Road, a large-scale Christmas ‘Sharelebration’ will be held this December, featuring a pop-up market cum the 12th Tithe Ethical Consumption Movement (TECM) in partnership with Fullness Social Enterprises Society (FSES), a non-governmental organization specializing in connecting social enterprises to promote ESG-aligned products and services. Besides, children from the Music Children Foundation, which is committed to nurturing underprivileged youth’s musical talents, will perform Christmas carols. Altogether, 20 social enterprises along with over 200 beneficiaries and volunteers will join this ‘Sharelebration’ to celebrate Christmas.
All these initiatives show that united efforts around shared goals can be powerful, even if individual influence seems narrow. Moving ahead, Champion REIT will further consolidate contributions from all collaborators to champion environmental and social resilience through strengthened partnerships in the years to come.
