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Revolutionizing Waste Management: Sino Land's Circular Innovation in Hong Kong
Published on February 28, 2024
About Sino Land Company Limited
Sino Land Company Limited HKSE: 083, a leading property developer in Hong Kong, is well-known for its comprehensive range of services including development properties for sale and investment, coupled with diverse offerings such as hotel operations, property management, car park management, cleaning services, environmental solutions, security services, and hospitality.
Business Type: A preeminent property company and real estate developer.
Reporting Region: Chinese jurisdiction in Hong Kong Special Administrative Region SAR.
Market Capitalization: HKD 78,695 million as of June 30, 2023.
Incorporating GRESB: Engagement with the GRESB Real Estate Assessment for both Standing Investment and Development activities.
Striving for ESG Integration
Sino Land’s overarching sustnability objectives include achieving net-zero carbon emissions by 2050. The company has proactively developed greenhouse gas GHG targets based on the Science Based Targets initiative , ming to drive decarbonization efforts while seeking further reductions in its carbon footprint.
Furthermore, Sino Land has elaborated a Decarbonization Blueprint encompassing its long-term strategies and methods for carbon reduction. It continuously reviews 15 new sustnability objectives as part of its Sustnability Vision 2030 framework, with goals across various material topics. This process is guided by the company’s dedicated ESG Steering Committee.
Pioneering Circular Economy Solutions in Waste Management
Sino Land commenced its engagement with GRESB in 2019 and has since made significant strides towards sustnability, consistently improving its performance year over year due to its unwavering commitment to environmental stewardship. A pressing concern for the real estate sector in Hong Kong, waste management is particularly critical given imping capacity limits at landfills.
Acknowledging that three of Hong Kong’s landfills are nearing their limit and facing strict government targets under the Waste Blueprint for Hong Kong 2035, which reduce waste disposal by up to 45 with a target recovery rate of over 55. This situation, coupled with the imminent implementation of Municipal Solid Waste Charging starting August 1, 2024, highlights the imperative need for proactive waste management strategies.
To address this environmental challenge and contribute to Hong Kong’s sustnability goals, Sino Land has embraced innovation by partnering with local startup EcoBricks. This collaboration introduced a groundbreaking solution in waste management through converting all seven types of plastic, including mixed plastics and composite materials, into sustnable construction resources.
ing product is lightweight yet durable and locally sourced, offering significant cost savings on transportation compared to imported bricks while reducing associated greenhouse gas emissions. By repurposing plastic waste as “green concrete,” Sino Land has effectively contributed to mitigating environmental impact.
Tackling the vast amount of plastic waste entering Hong Kong’s landfills each year, Sino Land's initiative with EcoBricks has been instrumental in diverting approximately 170 metric tons of plastic waste into constructive use. To date, over 3 million kilograms of plastic have been repurposed through this innovative approach.
Sustnable Development and Reporting Standards
Sino Land continues to set industry benchmarks by being one of the pioneering developers in Hong Kong to incorporate International Sustnability Standards Board’s recent IFRS S1 and S2 standards into its annual Sustnability Report. The company also aligns with other prominent global reporting frameworks, demonstrating a commitment to sustnability.
Furthermore, acknowledging climate risks, Sino Land conducts comprehensive assessments based on Taskforce on Climate-related Financial Disclosures TCFD guidelines in its latest Climate Action Report. This approach ensures robust resilience agnst environmental challenges while capitalizing on opportunities for sustnable growth.
Incorporating these efforts into local and international frameworks showcases Sino Land’s commitment to continuous ESG advancements, fostering shared value creation among stakeholders through responsible business practices.
For more information about becoming a GRESB Member or connecting with us, please visit our contact page.
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Sino Land Circular Innovation Waste Management Hong Kong Sustainable Real Estate Solutions EcoBricks Plastic to Construction Partnership GRESB Engagement ESG Performance Improvement Net Zero Carbon Emissions Property Development Hong Kong Waste Blueprint Sustainability Goals