Hang Lung Properties (0101) announced on Thursday that full renewable electricity coverage will be achieved across all 11 of its operating properties in nine mainland cities next month, a milestone expected to cut an estimated 227,513 tones of greenhouse gas emissions this year.
The portfolio spans 2.65 million square meters of gross floor area. Hang Lung sources wind and solar renewable power under a whole-building procurement model covering both landlord and tenant electricity consumption. It is expected to procure around 440,655 MWh of renewable electricity across its mainland portfolio by the end of this year, the company said.
Adriel Chan Wenbwo, chair of Hang Lung Properties and chair of the Sustainability Steering Committee, said that this milestone delivers value to the business and tenants, enhances energy resilience and contributes to China’s dual carbon goals.
The five-year sustainability initiative began at Spring City 66 in Kunming in 2021, with Riverside 66 in Tianjin the latest to complete the transition on October 1 this year, which marks significant progress toward Hang Lung's net zero commitment and its goal of achieving 100 percent renewable electricity across all operations by 2050, it added.
"China's electricity markets and policies are evolving quickly," said Ma Jun, director of the Institute of Public & Environmental Affairs (IPE). "We hope more property developers and operators will expand their procurement of renewable energy—an essential step for sector-wide decarbonization—creating sustained market demand and enabling a cleaner and more secure future."
Frank Feng
