Aligning Emissions Reduction Targets with SBTi towards Carbon Neutrality Goals

The Science Based Targets initiative (SBTi), a global effort mobilising the private sector to reduce greenhouse gas (GHG) emissions pursuant to the Paris Agreement, has validated Sino Land Company Limited’s near-term targets to be aligned with SBTi criteria and recommendations (version 5.0) for scopes 1, 2 and 3.

Covering the developer’s operations in Hong Kong, mainland China, Singapore and Australia, the validated commitments—to reduce absolute scope 1 and scope 2 emissions by 46.2 per cent by FY2030, based on FY2019; as well as to reduce scope 3 emissions (from leased assets; capital goods; fuel-and-energy-related activities; and waste generated in operations) by 51.6 per cent per square foot by FY2030, based on FY2022—are in line with efforts to achieve carbon neutrality before 2050.

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Launched in 2015 following a partnership between CDP; United Nations Global Compact; World Resources Institute; and World Wide Fund for Nature, the SBTi enables organisations to set science-based emissions reduction targets with online resources, technical assistance and independent assessment. —Construction+ Online

Sources: Sino Group; Science Based Targets