Sino Land Aligns with 8 Key Local and Global Sustainability Reporting Standards in its Sustainability Report 2023

Referencing the final version of the ISSB's new IFRS S1 and S2 and TNFD beta v0.4 framework

HONG KONG, Oct. 5, 2023 /PRNewswire/ -- Sino Land Company Limited ('Sino Land'), a listed company of Sino Group (the 'Group'), reaffirms its commitment to sustainability with the adoption of eight principal local and global sustainability reporting standards and frameworks in its Sustainability Report 2023 (the 'Report'). Sino Land is one of the first developers in Hong Kong to publish the Report with reference to the International Sustainability Standards Board (ISSB)'s new IFRS S1 and S2, along with the Taskforce on Nature-related Financial Disclosures (TNFD) beta v0.4 framework, highlighting the solid progress in environmental, social and governance (ESG) performance of Sino Land during the period from 1 July 2022 to 30 June 2023 (the 'Period').

Keeping Abreast of Global Sustainability Reporting Standards

Mr K.T. Ting, Chief Operating Officer, Hong Kong Quality Assurance Agency (HKQAA), said, "We are delighted to help verify Sino Land's sustainability report and see the company has taken a significant step in sustainability reporting with reference to the final version of the ISSB's IFRS S1 and S2, published in June 2023, and the TNFD beta v0.4 framework. These contemporary and widely recognised standards have gained support from international bodies, enabling Sino Land to effectively communicate its sustainability performance to stakeholders while fostering accountability and driving continuous improvement."

Mr Daryl Ng, Deputy Chairman and Chairman of the ESG Steering Committee of Sino Group, said, "We hold a strong belief in the crucial role of businesses in driving decarbonisation and bolstering climate resilience. 2022 is a memorable year for the Group as our ongoing efforts to sustainability have been recognised by the international community. Sino Land participated in multiple ESG ratings and is humbled that our corporate efforts were recognised, including being selected as a constituent of the Dow Jones Sustainability Asia/Pacific Index, and our MSCI ESG Rating has been upgraded to "AA". These recognitions further underscore our dedication to sustainable practices and solidify our position as a dedicated industry participant. We extend an invitation to everyone to join us in actively working towards a greener and more sustainable future."

Strengthening Climate Resilience

Committed to strengthening climate resilience of our portfolio, Sino Land remains steadfast in its pursuit of addressing climate risk and implementing innovative green solutions. Performance highlights for the Period include:

• Being one of the first Hong Kong developers to publish a standalone Climate Action Report in line with the Task Force on Climate-related Financial Disclosures ('TCFD') framework.
• Conducting thorough climate risk assessments for over 170 existing and new buildings under its management in Hong Kong.
• Obtaining BEAM Plus provision rating for 100% of the Group's projects under development.
• Achieving greenhouse gas ('GHG') emissions and electricity consumption reduction targets set out in Sino Land's Sustainability Vision 2030 (SV 2030) ahead of schedule.
• Expanding renewable energy resources with over 4,000 photovoltaic panels installed at properties under the Group's management. Notably, China Hong Kong City's rooftops boast 1,143 photovoltaic panels.

Engaging the Public to Enhance Biodiversity

The Group recognises the vital role of biodiversity conservation in protecting our planet's well-being. In line with this, it has implemented meaningful initiatives aimed at promoting and preserving biodiversity, including:

• Expanding Farm Together to 20 farms across Hong Kong and Singapore, spanning over 56,000 sq. ft. Skyline Tower tenants were also invited to join an eight-week programme to plant and harvest their own crops during the reporting period.
• Launching Hong Kong's first cross-sectoral coral conservation and restoration project, CORAL REEFStoration. The project marks major progress with the deployment of the first batch of 7.5 square metres of reef tiles at Middle Island and the opening of the CORAL REEFStoration Centre at Ocean Park during the Period.

Empowering Stakeholders and Communities

Sino Land appreciates the immense significance of individuals and remains steadfast in its commitment to empowering stakeholders. The company has achieved remarkable milestones during the Period, which include:

• Organising more than 156,500 hours of training, marking a 47.71% increase from the 2019 level.
• 1,770 Sino Caring Friends contributed over 207,000 volunteer hours in Hong Kong, aiding over 25,000 less-resourced elderly, children and youths, and more than 5,800 families.
• Garnering over 130 awards and recognitions related to its sustainability and community engagement efforts.

SOURCE Sino Group