Launched in August 2021, Swire Properties’ Green Performance Pledge (“GPP”) is a performance-based landlord-tenant partnership. Building on the basic premise of a green lease, the GPP covers the entire tenancy cycle in two core areas, fit-out and operations, focusing on creating a significant impact in terms of energy, water and waste reduction.
The GPP has grown rapidly in popularity since its launch, expanding fivefold in just two years. As of July 2023, over 70 office tenants have joined across the company’s Hong Kong office portfolio, representing 45%[1] of the occupied lettable floor area. Participating companies come from a wide range of industries, including banking and finance, luxury, legal, information technology and beyond.
For new tenants fitting-out their premises, or for existing tenants planning a renovation, the GPP provides a Sustainable Fit-out Programme which includes a comprehensive set of ‘Sustainable Fit-out Technical Guidelines’ as well as a validation and recognition system to improve energy and water efficiency, reduce waste and enhance employee wellness.
Under the operations portion, participants can make use of an array of tools and solutions to guide them to operate in a more sustainable way. Highlights include performance benchmarking, action planning, data sharing, and tailored SD offerings such as free energy audits, smart meter installation and smart waste monitoring systems.
A highlight of its ongoing efforts to invest in tenants’ sustainability efforts is the “GPP Academy”, a three-year collaboration with the Business Environment Council (BEC) that will enable office tenants to tap extensive industry knowledge, network and share best practices from other companies.
BEC conducted a series of pre-programme surveys and interviews to understand GPP tenants’ training needs and sustainability goals, and used the results to design quarterly capacity building events for the GPP Academy. These events include seminars, building tours and workshops, with the aim of enhancing tenants’ sustainability capabilities.
Commencing in Q3 2023, the Academy will empower GPP tenants to take practical and impactful actions to elevate their SD performance by reducing carbon emissions, energy consumption, water usage and waste generation.
The GPP is one of the many initiatives Swire Properties has in place to meet its ambitious 1.5oC-aligned science-based targets, which also include Scope 3 targets on tenants’ carbon emissions and embodied carbon emissions for new development projects.
[1] Measured by occupied lettable floor area (“LFA”) of office portfolios, which are Taikoo Place, Pacific Place and One Citygate in Hong Kong.
Snapshot of 2022 GPP Award Ceremony
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