Swire Pacific Accelerates Progress on Sustainable Development

HK$84.8 million allocated to innovative cleantech solutions in 2023 Internal Carbon Pricing scheme piloted at three operating companies

Swire Pacific (the Group) has released its Sustainability Report 2023 (the Report), which details the Group’s progress in delivering its SwireTHRIVE sustainable development strategy during the reporting year. The strategy sets out Swire Pacific’s ambitions for achieving net zero carbon emissions, water neutrality and zero waste to landfill by 2050, as well  as having 30% of the Board and senior leadership roles filled by women this year. 

The Report for 2023 covers Swire Pacific’s diversified businesses, including Property, Beverages and Aviation. Highlights include: 

• Allocated HK$84.8 million to innovative cleantech solutions that reduce the carbon, waste and water footprint of operating companies, via the Swire Pacific Sustainable Development  Fund.
• Piloted Internal Carbon Pricing at three operating companies that account for 96% of operational emissions.
• Achieved the near-term target of women making up 30% of the Swire Pacific Board of Directors by 2024.
• Increased the amount of sustainable finance as a proportion of the Group’s total financing to 47%.
• Embarked on a comprehensive diversity, equity, inclusion and belonging assessment with four operating companies in Hong Kong and the Chinese Mainland.
• Conducted a climate scenario analysis at the Group level to strengthen both the understanding of climate risk and the Task Force on Climate-related Financial Disclosure (TCFD).
• Distributed HK$35 million to local programmes through the Swire Group Charitable Trust (Swire Trust).

During 2023, Swire Pacific made solid progress in waste diversion and gender diversity. The Group diverted 61% of waste from landfill, and is close to reaching its 2030 target of 65% diversion. Women now hold 28% of senior leadership roles and represent 31% of the Board. The Group has met its target of women making up 30% of the Board and aims to achieve the same target for senior leadership roles by 2024. Swire Pacific also reduced its operational greenhouse gas emissions by 30% compared with 2018 levels and reduced water withdrawal by 8%, based on a 2018 frozen efficiency baseline. Swire Trust donated HK$35 million to supporting education, marine conservation, the arts and COVID-19 relief. 

SwireTHRIVE targets and 2023 progress at a glance*: 

	SwireTHRIVE Targets	Progress in 2023
	50% reduction in greenhouse gas emissions1 by 2030, and net zero by 2050	30% decrease from 2018 baseline
	65% waste diversion from landfill2 by 2030, and zero waste to landfill by 2050	61% waste diverted from landfill
	30% reduction in water withdrawal3 by 2030, and water neutrality by 2050	8% reduction in water withdrawal compared with the 2018 frozen efficiency baseline
	30% women on the Board and in senior leadership roles by 2024	31% of the Board and 28% of senior leadership roles filled by women
	Supporting communities through TrustTomorrow	HK$35 million distributed by Swire Trust to support education, marine conservation, the arts and COVID-19 relief

^* For definitions of terms, please refer to the glossary in the Sustainability Report  2023.

Remarks 

1. Scope 1 + Scope 2 emissions only. 2018 base year.
2. Incudes non-hazardous waste (where the company exercises operational control).
3. Compared with a 2018 frozen efficiency baseline. Excludes bottling volume from Swire Coca-Cola.

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About Swire Pacific Limited 
Swire Pacific (HKEX: 00019/00087) is a Hong Kong-listed international conglomerate with a diversified portfolio of market-leading businesses. The company has a long history in Greater China, where the name Swire or Taikoo (太古) has been established for over 150 years. Swire Pacific’s strategy is focused on Greater China and South East Asia, where we seek to grow our core businesses of Property, Beverages, and Aviation, as well as new areas of growth such as healthcare. Swire Pacific is the largest shareholder in two other listed companies in Hong Kong: Swire Properties Limited and Cathay Pacific Airways Limited. Swire Pacific is listed on the Hang Seng Corporate Sustainability Index, the Dow Jones Sustainability Asia Pacific Index and the MSCI All Country World Index (ACWI) ESG Leaders Index. 
Visit Swire Pacific’s website at www.swirepacific.com.