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Sustainability Report 2019 (Incorporated in the Cayman Islands with limited liability) Stock Code : 1997 SUSTAINABILITY REPORT 2019 16th Floor, Ocean Centre, Harbour City, Tel: (852) 2118 3118 Canton Road, Kowloon, Hong Kong www.wharfreic.com TABLE OF CONTENTS 1 Data at a Glimpse 2 Message from the Chairman 4 About Our Business 6 About Our Report 8 Our Sustainability Approach Business Protecting Our Nurturing Our Development Environment People 14 22 36 Business-in- Products and Community Services 44 52 60 Performance Data Summary 68 Major Awards, Charters and Memberships 69 Significant Laws and Regulations 70 GRI Standards and HKEX ESG Reporting Guide Content Index 74 Verification Statement Published by Sustainability Team Copyright © 2020 Wharf Real Estate Investment Company Limited. All rights reserved. Sustainability Report 2019 / Wharf Real Estate Investment Company Limited DATA AT A GLIMPSE 2.2% 2.7% 1.4% Air emissions particularly NOx Year-on-year greenhouse gas emissions dropped Less energy used from The “Star” Ferry dropped 2019 48.71 tonnes 2019 130,766 tonnes CO2e 2019 848,023 GJ 2018 2018 50.07 tonnes 2018 132,598 tonnes CO2e 867,059 GJ Less water consumed from Total waste generated Employee Leisure and Hospitality turnover 4.3% 18.2% 2019 453,068 m3 2019 23,787.91 tonnes 2019 1,008 employees 2018 473,617 m3 2018 29,082.05 tonnes 2018 1,029 employees Overall customer Injury rate satisfaction rate per 1,000 employees dropped in Investment Properties and Leisure and Hospitality 2017-2019 0 2019 male 34 female 35 work-related fatality for 3 >91 % consecutive years 2018 male 48 female 44 1 Wharf Real Estate Investment Company Limited / Sustainability Report 2019 Sustainability Report 2019 / Wharf Real Estate Investment Company Limited Guided by our Group-level Sustainability Steering Committee, the We ensure our business is future-proof by engaging and In the upcoming years, we will consider gradual adoption of MESSAGE FROM Group manages various sustainability issues in five focus areas, empowering our people. In addition to our talent attraction TCFD framework and expand our coverage of target setting namely Business Development, Protecting Our Environment, and engagement strategies, we strive to provide our to other environmental aspects in response to HKEX’s latest THE CHAIRMAN Nurturing Our People, Business-in-Community, and Products and employees with safe, healthy and inclusive working reporting requirements. Furthermore, our future sustainability Services. environment, and invest in resources to sustain their improvement will place considerable focus on stakeholder 102-14 professionalism. We remain committed to delivering positive engagement to effectively identify and manage their interests 2019 was the second hottest year on record on Earth and the social impacts through our full support for nurturing and expectations. this third Sustainability Report of Wharf Real Estate hottest in Hong Kong. As climate change becomes alarmingly volunteerism among employees. In Investment Company Limited (“Wharf REIC” or together evident, Wharf REIC is speeding up the pace to address the Before you read on, we would also like to take this opportunity with its subsidiaries, “the Group”), we continue to communicate impacts. This year, all of our business units (“BUs”) conducted In 2019, some of our youth empowerment initiatives reached to express our highest appreciation to the ongoing support our conscious efforts and commitments to ensure long-term preliminary climate risk assessments with reference to the a new phase. Our Architectural Design Internship Programme and joint efforts by multi-stakeholder groups, paving the way sustainability. Task Force on Climate-related Financial Disclosures (“TCFD”) gathered some past awardees to hold an exhibition named to our success of achieving sustainable business. In particular, recommendations. Our largest assets — Harbour City — has “Nine Wooden Chairs” to celebrate the 9th anniversary. The the current coronavirus outbreak presents unprecedented Over the years, Wharf REIC has built corporate strategy based also introduced a series of work for climate resilience. The Wharf Young Art Programme, which aims to boost teenage disruption to not only our business and the local economy but on our long-standing mission of “Building for Tomorrow”. To invaluable experience gained in this case will strengthen our creativity and art development, received the Award for Arts also the wider society. We are grateful to all of our employees create long-term shared values for our stakeholders socially climate change adaptive capacity. On the other hand, our BUs Education (Non-school Division) of the Hong Kong Arts as they continue to serve the community with their quality and environmentally, sustainability thinking is fully embedded fully support the Group-wide energy reduction target, and Development Awards 2018. Project WeCan continues to service during such a difficult time. in every aspect of our business operation. Wharf REIC remains most of them have established their own goals. Through the empower underprivileged secondary school students for a constituent member of Hang Seng Corporate Sustainability concerted efforts, we reduced our year-on-year energy pursuing higher education and career goal, benefitting over Index, and is accredited with CSR Index Plus Mark by Hong consumption by 2.2%. 70,000 students since 2011. Kong Quality Assurance Agency. We believe sustainable growth can be better achieved by Wharf REIC goes extra miles in maintaining service excellence The Group stays abreast of the international and industry working with our business partners. Driven by our commitment and providing quality products. We give due consideration to Stephen T H Ng trends and goes beyond regulatory compliance in relation to to sustainable procurement, we have a robust vendor improve customer experience, safety and privacy. Apart from Chairman and Managing Director sustainability. The Group has made strong commitment to 11 management system to ensure our success in maintaining constantly collecting valuable suggestions and comments Hong Kong of the 17 United Nations (“UN”) Sustainable Development close ties with suppliers while managing risk. As we view from our customers, we closely monitor their satisfaction and Goals (“SDGs”) to align our efforts with global objectives. The sustainability as a priority, suppliers with excellent sustainability look for rooms for improvement. Group adopts a top-down management approach to performance will be our preference alongside their ability to formulate sustainable business and operational strategies. provide quality service and products. 2 3 ABOUT OUR BUSINESS 102-2, 102-4, 102-6, 102-7, 102-10, 102-45 4 Sustainability Report 2019 / Wharf Real Estate Investment Company Limited About Wharf REIC Business Overview2 Sustaining a prominent figure in Hong Kong’s real estate Wharf REIC holds a portfolio of six premier quality assets in industry, Wharf REIC develops, invests and operates signature Hong Kong, namely Harbour City, Times Square, Wheelock properties across the territories of Hong Kong. Through offering House, Crawford House, The Murray, Hong Kong, a Niccolo excellent one-stop lifestyle experiences1 and fulfilling our role Hotel (“The Murray”) and Plaza Hollywood. This portfolio as an employer of choice for our community, we aspire to occupies approximately 11.7 million square feet of gross floor contribute to the economic growth of the city. We follow the area (“GFA”). It had a total value of HK$268 billion as of 31 long-standing mission of “Building for Tomorrow” to develop December 2019 and total revenues of HK$15.7 billion in 2019. our business while taking our environment, stakeholders and society as a whole into consideration. Harbour City Situated at the heart of the city alongside Times Square the exquisite Victoria Harbour, this flagship Located in Causeway Bay, Times landmark in Tsim Sha Tsui offers the The Murray Square is a 17-level shopping and all-in-one shopping, dining, entertainment Positioned in the heart of Hong Kong, The lifestyle landmark for shoppers and and sightseeing experience for shoppers Murray, a fondly memorable Government tourists. It is a prime choice for and visitors with its massive 2 million sq. office building renewed under the offices, all under one roof and ft. mall and three signature hotels. Government’s Conserving Central initiative3, is directly linked to a busy MTR station. a 25-storey contemporary urban hotel. Plaza Hollywood Located in Hong Kong’s vibrant new Kowloon Wheelock House East central business district (“CBD”), this Located in Hong Kong’s ground zero high-traffic regional shopping mall sits atop a CBD, Wheelock House is a 25-storey mass transit railway (“MTR”) station where two prime Grade A office building. busy lines intersect, and at the entrance to a main north-south road link. The “Star” Ferry Company, Limited (“The “Star” Ferry”) Crawford House As an icon of Hong Kong for decades, The “Star” Ferry Situated in Hong Kong’s core CBD, provides two inner harbour ferry services: Tsim Sha Tsui Crawford House is a commercial to Central and Tsim Sha Tsui to Wan Chai. It also offers a tower spanning 7-storey retail circular tour service around Victoria Harbour and a water premises (with a basement) and tour sightseeing service beyond Victoria Harbour. 18 prime office floors atop. 1 For details of our customer groups, please refer to the Business Review section of our Annual Report 2019. 2 For detailed breakdown of the products and
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