Five out of Hang Lung’s Ten Mainland Operating Properties are Powered by Renewable Energy
- Written by The Bulletin
Green power purchase agreements cover properties in Shanghai, Wuxi, Kunming and Jinan
HONG KONG SAR and SHANGHAI, CHINA - Media OutReach Newswire - 8 April 2024 - Hang Lung Properties (SEHK stock code: 00101) ("the "Company" or "Hang Lung") announced that half of its operating properties in Mainland have been powered by renewable energy through power purchase agreements since April 1, 2024, solidifying its market leadership in sustainable real estate practices.*
The move represents a remarkable milestone in Hang Lung's sustainability journey, and means that by the end of 2024 Hang Lung will go well beyond its 2025 sustainability target of 25% renewable energy for its mainland China portfolio. The achievement includes five properties in four cities: Plaza 66 and Grand Gateway 66 in Shanghai, Center 66 in Wuxi, Spring City 66 in Kunming, and Parc 66 in Jinan.
These innovative transactions – which draw on wind and solar power – support China's goals of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060, and demonstrate Hang Lung's commitment to sustainability leadership. They also align with the Company's commitment to achieving net-zero greenhouse gas emissions across its value chain by 2050, in accordance with climate science and its Science Based Target initiative (SBTi) target.
"Hang Lung aims to push the boundaries of what is possible for sustainability in the real estate industry and to inspire others to follow suit. We are leading the way, showing that it is possible to accelerate emissions reductions and sustainability progress in an economically viable way," said Mr. Adriel Chan, Hang Lung Properties Vice Chair and Chair of Sustainability Steering Committee.
Hang Lung's Renewable Energy Chronology:
- December 2021: Spring City 66 in Kunming is Hang Lung's first property and the first commercial complex in Yunnan Province to be powered by renewable energy
- January 2023: Parc 66 in Jinan is the first commercial property in Jinan and Shandong Province to be powered by renewable energy
- April 2024: Plaza 66 and Grand Gateway in Shanghai, and Center 66 in Wuxi build on the successes in Kunming and Jinan and are also powered by renewable energy. Altogether, five out of ten of Hang Lung's Mainland operating properties are powered by renewable energy*
| Property | Minimum Green Electricity Under Bundled Power Purchase Agreement | Maximum Unbundled Green Electricity Certificate |
| Spring City 66, Kunming | 100% | 0% |
| Parc 66, Jinan | 100% | 0% |
| Center 66, Wuxi | 98% | 2% |
| Grand Gateway 66, Shanghai | 95% | 5% |
| Plaza 66, Shanghai | 95% | 5% |
Hashtag: #HangLung #renewableenergy
The issuer is solely responsible for the content of this announcement.
About Hang Lung Properties
Hang Lung Properties Limited (SEHK stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the "66" brand, the company's Mainland portfolio has established its leading position as the "Pulse of the City". Hang Lung Properties is recognized for leading the way in enhanced sustainability initiatives in real estate as it pursues sustainable growth by connecting customers and communities.
At Hang Lung Properties – We Do It Well.
For more information, please visit www.hanglung.com.
